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Covid 19 Pandemi Dan Dinamika Harga Bawang Merah Di Provinsi - Provinsi Di Indonesia Aurelia, Millenia; Sahara, Sahara; Hakim , Dedi Budiman
Policy Brief Pertanian, Kelautan, dan Biosains Tropika Vol 4 No 1 (2022): Policy Brief Pertanian, Kelautan dan Biosains Tropika
Publisher : Direktorat Kajian Strategis dan Reputasi Akademik IPB University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29244/agro-maritim.0401.179-183

Abstract

Bawang merah merupakan salah satu komoditas pertanian yang memiliki nilai ekonomi tinggi, namun komoditas bawang merah tersebut bersifat musiman sehingga harga bawang merah cenderung berfluktuasi antar waktu dan juga antar wilayah. Kesenjangan harga bawang merah antar provinsi masih terjadi baik sebelum dan selama masa pandemi Covid-19. Pada masa pandemi Covid-19 kenaikan harga bawang merah terjadi hampir di seluruh Provinsi Indonesia (kecuali Provinsi Sulawesi Barat). Kenaikan harga tertinggi terdapat di wilayah Provinsi Kalimantan Barat, Maluku Utara, Papua Barat, Papua dan Lampung. Perbedaan harga yang terjadi antar wilayah berkaitan dengan pola dan jalur distribusi dimana letak sentra produksi jauh dari pasar konsumen. Upaya perbaikan pada sistem distribusi bawang merah perlu dilakukan sebagai prasyarat untuk menjamin agar seluruh daerah dapat memperoleh pasokan bawang merah dalam jumlah dan kualitas yang cukup sepanjang waktu dengan harga yang stabil. Peningkatan produktivitas juga perlu dilakukan melalui penggunaan benih unggul dan benih TSS.
Mergers and Acquisitions: Lessons Learned from Indonesia's State-Owned Enterprises Sudaryono; Hakim , Dedi Budiman; Manurung, Adler Haymans; Asikin, Zenal
International Journal of Social Science and Business Vol. 9 No. 2 (2025): May
Publisher : Universitas Pendidikan Ganesha

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23887/ijssb.v9i2.93976

Abstract

This study examines the impact of mergers and acquisitions on the financial performance of Indonesia’s state-owned enterprises, specifically in terms of Return on Assets (ROA), Return on Equity (ROE), and the Price-to-Earnings (P/E) Ratio. To test the hypothesis, the research incorporates fundamental factors such as Revenue, Current Ratio, and Debt-to-Equity Ratio, alongside external influences like Exchange Rate, Oil Price, and the COVID-19 pandemic. Mergers and acquisitions are considered moderating factors in this relationship. This study employs a Panel Data Regression Model using Generalized Least Squares (GLS) for initial estimates, followed by Ordinary Least Squares (OLS) to further refine the analysis. The data is sourced from 132 publicly listed Indonesia's state-owned enterprises on the Indonesia Stock Exchange, covering the period from 2010 to 2021. The study shows that Revenue significantly affects ROA, ROE, and P/E Ratio, while the Debt-to-Equity Ratio impacts ROA and P/E Ratio. Among external factors, the exchange rate influences both ROA and ROE. The analysis reveals that mergers and acquisitions lead to notable changes in financial performance, particularly in the P/E Ratio, where Revenue and Debt-to-Equity Ratio have a stronger effect. Additionally, when combined with the Current Ratio, mergers and acquisitions enhance their impact on ROA, ROE, and P/E Ratio. These findings suggest that holding policies improve operational efficiency in Indonesia’s state-owned enterprises and that investors benefit from potential capital gains following merger announcements. However, while the holding policy shows positive results, further governance improvements are needed for long-term success.
The Effect of Systematic and Fundamental Factors on The Valuation of Cement Manufacturers in Indonesia Wedagama, Dewa Nyoman Wiryasantika; Hakim , Dedi Budiman; Juanda, Bambang; Andati, Trias
Jurnal Aplikasi Bisnis dan Manajemen Vol. 8 No. 2 (2022): JABM Vol. 8 No. 2, Mei 2022
Publisher : School of Business, Bogor Agricultural University (SB-IPB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17358/jabm.8.2.337

Abstract

There are two kinds of factors that influenced companies’ valuation: systematic factors and fundamental factors. The relationship between the company valuation of cement companies listed on the Indonesia Stock Exchange (IDX) and several systematic factors and fundamental factors need to be identified to know determinant factors of the valuation. The valuation of each company from 2013 to 2019 was examined to four systematic factors: the excess capacity of each company (idle capacity), market share, government infrastructure spending, and excess supply of cement in the market. As a result of the panel data regression between valuation as the dependent variable and the four systematic factors in this research, the market share has a greater influence on the valuation than the other three factors, the government infrastructure spending, the excess capacity of each company, and the oversupply of cement in the market. Fundamental factors as valuation determinants have been examined and identified, then through relative valuation-multiples, the panel data regression of valuation as the dependent variable and fundamental factors showed companies fundamental factors have a higher influence on the valuation of SMCB, SMGR and INTP, meanwhile, non-fundamental factors have a higher influence on SMCB and SMCB and SMBR valuation. Keywords: valuation, infrastructure budget, oversupply of cement market, company’s excess capacity