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Pengaruh IPO Terhadap Kinerja Keuangan, Good Corporate Governance dan Nilai Perusahaan Emiten Skala UKM di Bursa Efek Indonesia: IPO’s Effect on Financial Performance, Good Corporate Governance and Firm Value of SME Issuers in Indonesia Stock Exchange Risa Resmita Dewi; Anny Ratnawati; Lukytawati Anggraeni
Jurnal Aplikasi Bisnis dan Manajemen (JABM) Vol. 10 No. 2 (2024): JABM, Vol. 10 No. 2, Mei 2024
Publisher : School of Business, Bogor Agricultural University (SB-IPB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17358/jabm.10.2.636

Abstract

Background: The financial sector, especially the Indonesian capital market, shows a positive trend with an increase in the number of IPO companies each year. The contribution of national GDP and the number of SME companies in Indonesia are high, so development efforts to facilitate the provision of capital through the capital market are carried out by the government. Basically, IPO funding obtained by the company will provide an opportunity for the issuer in the hope of improving financial performance so that the company's valuation among investors increases and also improves corporate governance.Purpose: This study aims to analyze the influence of Initial Public Offerings on Financial Performance, Good Corporate Governance and Valuation in SME’s Issuer on Indonesia Stock Exchange. Design/methodology/approach: The research was conducted using the Mann-Whitney test and OLS multiple regression analysis. Findings/Result: The results showed that financial performance has a significant difference after IPO particularly on activity ratio and leverage ratio. It is known that the variables company such as size, outstanding shares, profitability ratio and dummy covid have an effect on company valuation. While leverage, income and activity ratio have no effect on company value. In addition, leverage, company size, outstanding shares and dummy covid have significant effect on good corporate governance.Conclusion: Issues from SME can be considered potential options for investors in the capital market. Besides that, it encourages other SME to obtain funding from the capital market.Originality/value (State of the art): This study examines opportunities for SME companies that can increase their business scale through the capital market by meeting the requirements of financial performance prospects and the implementation of good corporate governance so that they can increase the company's value. Keywords: financial performance, good corporate governance, IPO, firm value, SME
The driver of global agricultural value chains: Evidence from 6 ASEAN Countries Ariyo Dharma Pahla Irhamna; Muhammad Firdaus; Bustanul Arifin; Anny Ratnawati
Region : Jurnal Pembangunan Wilayah dan Perencanaan Partisipatif Vol 20, No 1 (2025)
Publisher : Regional Development Information Center, Universitas Sebelas Maret

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20961/region.v20i1.93403

Abstract

This study investigates the drivers of global agricultural value chain (GAVC) participation in six ASEAN countries: Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam. Employing panel geographically weighted regression, the paper analyzes the spatial heterogeneity of factors influencing global agricultural value chain participation. Our findings reveal significant variations in the impact of tariffs, FDI, agricultural land area, inland waters, and trade balance across countries. Tariffs emerge as a crucial factor in enhancing competitiveness in Indonesia, Singapore, and Thailand, aligning with trade theory. FDI positively influences Malaysia's global agricultural value chain participation, emphasizing attracting foreign investment. Agricultural land area plays a pivotal role in Indonesia and Thailand, highlighting the significance of resource endowments. Inland waters contribute significantly to agriculture in the Philippines, while their impact in Indonesia suggests potential inefficiencies in water management. Trade balance in food products positively affects global agricultural value chain involvement in Thailand and Vietnam. These findings underscore the need for tailored policies to address the unique characteristics of each ASEAN country. Future research should explore the long-term implications of these factors and consider broader socio-economic and environmental contexts.