Performance Analysis of Foreign Owned and Domestically Owned Companies (Registered Mining Company Case Study on the Indonesia Stock Exchange for the 2016-2020 period)
Keywords:
Financial Performance, Foreign Owned and Domestic Owned
Abstract
The study aims to analyze the performance of foreign-owned companies and domestically-owned companies on financial performance with the object of research being 47 mining companies listed on the Indonesia Stock Exchange at the end of 2020. Based on the completeness of the data studied, only 11 companies were selected. sample from 2016 to 2020. The independent variables of this study are foreign-owned companies (X1) and domestically owned (X2). The dependent variable is financial performance (Y) consisting of NPM, ROA and ROE. Multiple linear regression data analysis using SPSS version 23. The results showed that foreign owned companies and domestically owned companies (domestic) had a significant effect on financial performance (NPM, ROA and ROE), then the test results simultaneously showed that foreign owned companies and foreign owned companies domestic (domestic) significant effect on financial performance. With the magnitude of the influence is only 56.4% while 43.6% is influenced by other factors.
References
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Siregar, S. (2013). Metode penelitian kuantitatif. Jakarta: Kencana.
Sprankling, J. G. (2014). The international law of property. OUP Oxford.
Stout, L. A. (2012). The shareholder value myth: How putting shareholders first harms investors, corporations, and the public. Berrett-Koehler Publishers.
Subing, F. H. (2017). Pengaruh Kepemilikan Asing, Kepemilikan Domestik, Ukuran Perusahaan, Kebijakan Hutang, dan Rasio Perputaran Saham Terhadap Tingkat Pengembalian Saham (Studi Pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Tahun 2014-2016).
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Yoyo Arifardhani, S. H. (2020). Hukum Pasar Modal Di Indonesia: Dalam Perkembangan. Prenada Media.
Aramburu, N., Sáenz, J., & Blanco, C. (2013). Structural capital, innovation capability, and company performance in technology-based colombian firms. Proceedings of the International Conference on Intellectual Capital, Knowledge Management & Organizational Learning, 2(2), 20–29.
Budiarti, E., & Sulistyowati, C. (2014). Struktur Kepemilikan dan Struktur Dewan Perusahaan. Jurnal Manajemen Teori Dan Terapan| Journal of Theory and Applied Management, 7(3).
Cuervo-Cazurra, A., Inkpen, A., Musacchio, A., & Ramaswamy, K. (2014). Governments as owners: State-owned multinational companies. Springer.
Demekas, D. G., & Nerlich, A. (2020). Creating Domestic Capital Markets in Developing Countries.
Dewi, Y. A., Nasfi, N., & Yuliza, M. (2021). Internal Control System, Utilization of Accounting Information Technology, on Village Fund Management Accountability. International Journal of Economics, Business and Accounting Research (IJEBAR), 5(1), 190–203. https://doi.org/10.29040/ijebar.v5i1.2040
Epstein, M. J., & Buhovac, A. R. (2014). Making sustainability work: Best practices in managing and measuring corporate social, environmental, and economic impacts. Berrett-Koehler Publishers.
Fahmi, I. (2012). Analisis Laporan Keuangan. Alfabeta.
Fleming, L., & Sorenson, O. (2016). Financing by and for the masses: An introduction to the special issue on crowdfunding. California Management Review, 58(2), 5–19.
Garanina, T., & Pavlova, Y. (2011). Intangible assets and value creation of a company: Russian and UK evidence. Proceedings of the European Conference on Intellectual Capital, 165–175.
Gul, F. A., Kim, J.-B., & Qiu, A. A. (2010). Ownership concentration, foreign shareholding, audit quality, and stock price synchronicity: Evidence from China. Journal of Financial Economics, 95(3), 425–442.
Haskel, J., & Westlake, S. (2018). Capitalism without capital: The rise of the intangible economy. Princeton University Press.
Hayes, K., & Perks, R. (2012). Women in the artisanal and small-scale mining sector of the Democratic Republic of the Congo. High-Value Natural Resources and Peacebuilding, 529–544.
Invenesia.com. (2021). Daftar Perusahaan Pertambangan di BEI Terbaru. https://www.invesnesia.com/perusahaan-pertambangan-di-bei/.
Irawan, R., & Murhadi, W. R. (2012). Three Factor Model dan Kepemilikan Asing Terhadap Tingkat Return. Jurnal Manajemen & Bisnis FBE UBAYA, 11(2), 213–226.
Karwowski, E. (2015). The finance–mining nexus in South Africa: How mining companies use the South African equity market to speculate. Journal of Southern African Studies, 41(1), 9–28.
Kasmir. (2015). Analisis Laporan Keuangan (Kedelapan). RajaGrafindo Persada.
Lee, I., & Lee, K. (2015). The Internet of Things (IoT): Applications, investments, and challenges for enterprises. Business Horizons, 58(4), 431–440.
Loughran, T., & McDonald, B. (2016). Textual analysis in accounting and finance: A survey. Journal of Accounting Research, 54(4), 1187–1230.
Masyiyan, R. A., & Isynuwardhana, D. (2020). Analysis of Financial Performance with Economic Value Added (EVA) Method, Market Value Added (MVA), And Financial Value Added (FVA). JASa (Jurnal Akuntansi, Audit Dan Sistem Informasi Akuntansi), 4(1), 116–125.
Melita, W., & Rokhmawati, A. (2017). Pengaruh Kepemilikan Manajerial, Kepemilikan Institusional, Kepemilikan Asing, Kepemilikan Individu, Kebijakan Hutang dan Dividen Tahun Sebelumnya Berpengaruh Terhadap Kebijakan Dividen. Jurnal Tepak Manajemen Bisnis, 9(2), 215–232.
Nasfi, N, Marta, Y., & Antoni, A. (2020). Analisis Tingkat Kesehatan Bank Sebelum Dan Sesudah Merger Di Sumatera Barat (Studi Kasus: PT. BPR Rangkiang Aur dengan PT. BPR Rangkiang Denai). Jurnal Menara Ekonomi: Penelitian Dan Kajian Ilmiah Bidang Ekonomi, 6(1), 67–77. https://doi.org/https://doi.org/10.31869/me.v6i1.1748
Nasfi, N, Rahmad, R, Sabri, S. (2020). Effect of Education, Training, Motivation And Work Satisfaction on Banking Organization Commitments. Jurnal Ipteks Terapan, 14(1), 32–44. https://doi.org/http://doi.org/10.22216/jit.2020.v14i1.5139
Nasfi, Rahmad, S. (2020). Pengaruh Diklat Kepemimpinan Dan Pengembangan Karir Terhadap Kinerja Pegawai Dinas Koperasi UMKM Provinsi Sumatera Barat. Al-Fikrah: Jurnal Manajemen Pendidikan, 8(1), 11–28. https://doi.org/http://dx.doi.org/10.31958/jaf.v8i1.2025
Nasfi, N., Iska, S., Nofrivul, N., & Antoni, A. (2019). Financial Sustainability In The Assessent of The Financial Pemormance of West Sumatera Sharia Financing Bank (BPRS). Jurnal Menara Ekonomi: Penelitian Dan Kajian Ilmiah Bidang Ekonomi, 5(1), 51–62. https://doi.org/https://doi.org/10.31869/me.v5i1.1272
Natalia, N. (2019). Efect of Capital Structure, Company Growth And Profitability Of Corporate Values In Coal Mining Subsector Companies. International Journal of Public Budgeting, Accounting and Finance, 2(1), 1–13.
Putri, N. S., Yuniarta, G. A., AK, S. E., Darmawan, N. A. S., & SE, A. (2015). Pengaruh Kinerja Keuangan, Proporsi Kepemilikan, Ukuran, dan Status Perusahaan Terhadap Luas Pengungkapan Perusahaan Sektor Pertambangan yang Terdaftar di BEI Periode 2009-2013. JIMAT (Jurnal Ilmiah Mahasiswa Akuntansi) Undiksha, 3(1).
Raharjanti, R., & Setyowati, N. (2017). Pengaruh Struktur Kepemilikan dan Struktur Modal Terhadap Harga Saham. Jurnal Akuntansi Dan Auditing, 14(2), 89–99.
Rahmad, Sabri, Nasfi, N. (2021). The Influence of Organizational Structure, Leadership and Human Resource Capability on Service Effectiveness. International Journal of Social and Management Studies (Ijosmas), 3(2), 123–131. https://doi.org/https://doi.org/10.5555/ijosmas.v2i3.40
Sari, R. (2020). Pengaruh Kepemilikan Asing dan Leverage Terhadap Kinerja Keungan. BALANCE: JURNAL AKUNTANSI DAN BISNIS, 5(1), 64–70.
Satria, Y, D, Nasfi, N. (2019). Merger As The Fulfillment Of Minimum Capital Requirements And Fulfillment Of Core Capital BPR Based On Financial Regulation No. 5/POJK.03/2015 (Case Study At PT. BPR Rangkiang Aur and PT. BPR Rangkiang Denai). Jurnal Penelitian Dan Kajian Ilmian MENARA Ilmu, 13(9), 13–23. https://doi.org/https://doi.org/10.33559/mi.v13i9.1549
Siregar, S. (2013). Metode penelitian kuantitatif. Jakarta: Kencana.
Sprankling, J. G. (2014). The international law of property. OUP Oxford.
Stout, L. A. (2012). The shareholder value myth: How putting shareholders first harms investors, corporations, and the public. Berrett-Koehler Publishers.
Subing, F. H. (2017). Pengaruh Kepemilikan Asing, Kepemilikan Domestik, Ukuran Perusahaan, Kebijakan Hutang, dan Rasio Perputaran Saham Terhadap Tingkat Pengembalian Saham (Studi Pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Tahun 2014-2016).
Suhatman, Sari.R.M, Nagara.P, N. (2020). Pengaruh Atribut Produk dan Promosi Terhadap Minat Beli Konsumen Kota Pariaman di Toko Online Shopee. Jurnal Bisnis, Manajemen, Dan Ekonomi, 1(2), 26–41. https://doi.org/https://doi.org/10.47747/jbme.v1i2.81
Suhatman. S, Nasfi, N. (2021). Economic Analysis Affecting Tourist Demand on the Number of Visitors to the Gondoriah Pariaman Beach Tourism Object. Ilomata International Journal of Social Science, 2(1), 11–20.
Utama, C. A., & Utama, S. (2014). Corporate governance, size and disclosure of related party transactions, and firm value: Indonesia evidence. International Journal of Disclosure and Governance, 11(4), 341–365.
Van Beveren, I. (2012). Total factor productivity estimation: A practical review. Journal of Economic Surveys, 26(1), 98–128.
Vrbka, J., & Rowland, Z. (2019). Assessing the financial health of companies engaged in mining and extraction using methods of complex evaluation of enterprises. In Sustainable Growth and Development of Economic Systems (pp. 321–333). Springer.
Yoyo Arifardhani, S. H. (2020). Hukum Pasar Modal Di Indonesia: Dalam Perkembangan. Prenada Media.
Published
2021-09-10
How to Cite
nasfi, nasfi, & Suhatman. (2021). Performance Analysis of Foreign Owned and Domestically Owned Companies (Registered Mining Company Case Study on the Indonesia Stock Exchange for the 2016-2020 period). El-Kahfi | Journal of Islamic Economics, 2(02), 136-148. https://doi.org/10.58958/elkahfi.v2i02.65
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Articles
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