scholarly journals Effect of Acquisition on Operating Performance of Indigenous Oil & Gas Firms in Nigeria

2018 ◽  
Vol 6 (12) ◽  
Author(s):  
Nduka Oyediya Ijedinma ◽  
Okah Vincent ◽  
Ugwuegbu Charles Onyemachi
Keyword(s):  
Operating Performance ◽  
New Economy ◽  
Secondary Data ◽  
Poor Performance ◽  
Oil Price ◽  
Statistical Tool ◽  
Return On Equity ◽  
Before And After ◽  
Speed To Market ◽  
The Government

Growth through acquisition has been a critical part of the success of many companies operating in the new economy like that of Nigeria. It is an indisputable fact that acquiring is much faster than building, speed-speed to market, speed to positioning and speed to becoming a viable company is absolutely essential in the new economy. This study evaluated the effect of acquisition on the operating performance of two oil & gas firms in Nigeria. Five research objectives, questions and hypotheses were formulated and analyzed. The study made use of secondary data. The secondary data was gotten from the financial statement of studied firms’ and were used in testing the hypothesis. In testing the formulated hypotheses, variables such as Return on Equity, Return on Assets, Gross earnings, Asset Utilization, & Financial Leverage were compared before and after acquisition using Pair Sample T-Test Statistical Tool. All the results show that the preacquisition financial positions were better off than the post-era. The study identified some of the likely reasons that could account for post-era poor performance to include hostility in the Niger Delta region which has led to pipeline vandalism, drop in oil price etc. The study hereby recommend that Since the oil price cannot be predicted, both firms should diversify some of their operations in activities that are a bit stable, profitable and competitive. The government should ensure that the relative peace experienced so far is being maintained to avoid pipeline vandalism which has adverse effect on oil production.

KETIDAKEFEKTIFAN KEBIJAKAN ANTI-DUMPING PRODUK IMPOR BAJA INDONESIA: SEBUAH ANALISIS AWAL

2017 ◽  
Vol 11 (2) ◽  
pp. 143-168
Author(s):  
Aditya Paramita Alhayat
Keyword(s):  
Government Regulation ◽  
Best Practice ◽  
Secondary Data ◽  
Information Services ◽  
Global Trade ◽  
Trade Patterns ◽  
Safeguard Measures ◽  
The Us ◽  
Before And After ◽  
The Government

Meskipun Indonesia telah mengenakan tindakan anti-dumping terhadap beberapa jenis produk baja, namun impor produk tersebut masih meningkat. Salah satu kemungkinan penyebabnya adalah importasi melalui produk yang dimodifikasi secara tidak substansial atau melalui negara ketiga yang tidak dikenakan tindakan anti-dumping, yang dalam perdagangan internasional umum disebut sebagai praktik circumvention. Studi ini ditujukan untuk membuktikan bahwa circumvention mengakibatkan tindakan anti-dumping atas impor produk baja Indonesia tidak efektif dan untuk memberikan masukan berdasarkan praktik di negara lain supaya kebijakan anti-dumping Indonesia lebih efektif. Circumvention dianalisis dengan membandingkan pola perdagangan antara sebelum dan setelah pengenaan bea masuk anti-dumping (BMAD) menggunakan data sekunder dari Badan Pusat Statistik (BPS) maupun Global Trade Information Services (GTIS). Hasil analisis menunjukkan adanya indikasi kuat bahwa circumvention mengkibatkan pengenaan tindakan anti-dumping impor produk baja di Indonesia menjadi tidak efektif. Oleh karena itu, sangat penting bagi Pemerintah Indonesia untuk segera melakukan penyempurnaan terhadap Peraturan Pemerintah No. 34/2011 tentang Tindakan Antidumping, Tindakan Imbalan, dan Tindakan Pengamanan Perdagangan dengan memasukkan klausul tindakan anti-circumvention yang setidaknya mencakup bentuk-bentuk dan prosedur tindakan, sebagaimana yang telah dilakukan beberapa negara seperti: AS, EU, Australia, dan India. Although Indonesia has imposed anti-dumping measures on several types of steel products, the import of steel products is still increasing. One possible cause is that imports are made by non-substantial modification of product or through a third country which is not subject to anti-dumping measures, which is generally referred as circumvention practice. This study is aimed to prove that circumvention made Indonesian anti-dumping actions on the steel products ineffective. This also study provides recommendation for a best practice for other countries so that Indonesia's anti-dumping policy can be more effective. Circumvention was analyzed by comparing trade patterns between before and after the imposition of anti-dumping duty using secondary data from the Central Bureau of Statistics (BPS) and the Global Trade Information Services (GTIS). The results of the analysis indicate that circumvention became the reason why Indonesian anti-dumping measures on imported steel products are ineffective. Therefore, it is very important for the Government of Indonesia to immediately make amendments to the Government Regulation No. 34/2011 on Antidumping, Countervailing, and Safeguard Measures by adopting clauses of anti-circumvention. This can be done bycovering the forms/types and procedures of action, as has been implemented by several countries such as the US, EU, Australia, and India.

scholarly journals JURNAL ANALISIS KINERJA KEUANGAN SEBELUM DAN SESUDAH PENERAPAN PPK-BLUD PADA RSUD KARDINAH

2017 ◽  
Vol 1 (1) ◽  
Author(s):  
Debby Firoeza Indiany ◽  
Dien Noviany Rahmatika ◽  
Jaka Waskito
Keyword(s):  
Financial Performance ◽  
Financial Management ◽  
Secondary Data ◽  
Profit Margin ◽  
Wilcoxon Test ◽  
Return On Equity ◽  
Financial Ratio ◽  
Fixed Assets ◽  
Before And After ◽  
Turn Over

RSUD Kardinah Kota Tegal in December, 2008 has been designated as Badan Layanan Umum Daerah (BLUD), then since January 2009 has done changes management finances, with the financial management apply system that is called “Pola Pengelolaan Keuangan Badan Layanan Umum Daerah” (PPK – BLUD). This study aimed to analyze the diffrerences in financial performance RSUD Kardinah based on (1) the ratio of the vulnerability, the aspects of return of assets, return on equity, gross profit margin and net profit margin. (2) liquidity ratios include aspects of current ratio, quick ratio and cash ratio (3) solvency ratios include aspects of debt ratios, debt to equity ratio and times interest earned ratio, and (4) the ratio of activity includes aspects of accounts receivable turn over, inventory turn over, fixed assets and total assets turn over before and after implementing PPK-BLUD. This study classified quantative descriptive research the type of data used is secondary data obtained from the annual financial statements of RSUD Kardinah, the period before implementing ppk – blud (2002 – 2008) and after implementing ppk – blud (2009 – 2015). The analytical method used is a diferrent test to test the hypothesis using wilcoxon test with an error rate (alpha) of 5%. The result of this study conclude, there are no significant differences in financial performance based suspectible ratio, liquidity ratio and activity ratio on RSUD Kardinah before and after implementing of PPK-BLUD. There are significant differences in the aspect ratio of the activity inventory turn over snd fixed assets turn over before and after implementing of PPK – BLUD. The implementation of the PPK – BLUD in hospitals Kardinah not give any significant changes to be seen from the ratio financial ratio, but there is an increase in the trend sharp against the income operations hospital after the implementation of PPK – BLUD. Keywords : PPK-BLU, financial ratio analysis, financial performance, Wilcoxon Siged Ranks Test

scholarly journals Evaluasi program pemberian MP-ASI bubuk instan dan biskuit di Kota Mataram, Kabupaten Lombok Barat, Lombok Timur dan Bengkulu Utara tahun 2007

2010 ◽  
Vol 6 (3) ◽  
pp. 145
Author(s):  
I Nyoman Adiyasa ◽  
Hamam Hadi ◽  
I Made Alit Gunawan
Keyword(s):  
Secondary Data ◽  
Nutrition Status ◽  
Average Weight ◽  
Z Score ◽  
Distribution Method ◽  
Poor Families ◽  
Before And After ◽  
Good Nutrition ◽  
The Government ◽  
Integrated Service

Background: Increasing number of poor families leads to higher prevalence of malnourishment and malnutrition. The prevalence of malnutrition in children under five based on weight/age at the Province of Nusa Tenggara Barat and Bengkulu 2005 was above the national target. An effort made by the government to minimize the prevalence of malnourishment/ malnutrition is through the distribution of individual complementary breastfeeding for infants and children of 6-24 months old from poor families. The program had been implemented since 2003-2005 and there were problems of its implementation. In 2007 the program was re-implemented through the program of instant powder and biscuit complementary breastfeeding distribution but its achievement has never been evaluated.Objective: To evaluate the achievement of instant powder and biscuit complementary breastfeeding program at Mataram Municipality, District of Lombok Barat, Lombok Timur, and Bengkulu Utara 2007.Method: The study was observational with pre and posttest design using descriptive, analytical, quantitative, qualitative, and explorative approaches. Subjects were managers of complementary breastfeeding program at provincial, district/ municipal level, health centers, villages/integrated service post and program target. Variables of input, process, output and outcome were obtained through observation, filling in questionnaires, indepth interview, and secondary data recording. Data were analyzed descriptively, analytically, and qualitatively.Result: In the aspect of input, only human resources that was quantitavely adequate, and so were technical guideline at Lombok Timur, Complementary breastfeeding packages relevant with the quantity proposed at Bengkulu Utara. Budget for socialization and program guidebook at Bengkulu Utara were not available. Distribution method was relevant with the guidebook. In the aspect of process, planning was irrelevant with the guidebook; storage was 43.8% relevant with the requirement; distribution was 31.3% relevant with the schedule, quantity and types; monitoring was relevant with the schedule of integrated service post. In the aspect of output, the program was 78.8% relevant with target; 32.5% relevant with quantity; 95.6% could improve weight gain (p < 0.05). In the aspect of outcome: the program could overcome and prevent the prevalence of malnutrition, malnourishment and sustain good nutrition status as much as 55.6% and the result of Z-score statistical test was p < 0.05.Conclusion: Achievement of instant powder and biscuit complementary breastfeeding program in aspect of input was average at three districts/municipality and good at District of Lombok Timur and poor at District of Bengkulu Utara; in aspect of output was poor at three districts/municipality and average at District of Bengkulu Utara; in aspect of outcome was poor at all districts/municipality. There was difference in average weight target before and after the supply of complementary breastfeeding. There was difference in average Z score target before and after the supply of complementary breastfeeding.

scholarly journals APAKAH PEMBENTUKAN HOLDING MENINGKATKAN KINERJA PERUSAHAAN ? ANALISIS PERBANDINGAN KINERJA ANAK PERUSAHAAN ABC BUMN HOLDING SEBELUM DAN SETELAH HOLDINGISASI DAN FAKTOR YANG MEMPENGARUHINYA

2019 ◽  
Vol 9 (2) ◽  
pp. 251
Author(s):  
Bambang Utoyo
Keyword(s):  
Financial Performance ◽  
Commodity Prices ◽  
Poor Performance ◽  
The Poor ◽  
Before And After ◽  
Sugar Mills ◽  
The Government ◽  
The Cost ◽  
Better Than ◽  
Non Parametric

Abstract: The government has established ABC BUMN Holding, with the hope that the performance of its subsidiaries' performance after holding has increased sharply. Unfortunately the financial performance of its subsidiaries is no better than before the holding. This study is intended to analyze the performance of ABC BUMN subsidiaries before and after holding and look for factors that affect their performance, with non-parametric statistical methods and discussions with experts. The results showed that the poor performance of subsidiaries was partly due to the focus of the holding Directors still on restructuring the debt of subsidiaries which were carried out before the establishment of holding, the low productivity of plantations as a result of late replenting, fertilization and maintenance that are not in accordance with the standard, the cost of revitalizing sugar mills has not been able to be prepared by the holding, the synergy between the parent company and its subsidiaries has not gone well, and there has been a tendency to decline in plantation commodity prices. Keywords: Holding, financial performance, low productivity of plantation,  statistic non parametric. Abstrak :Pemerintah telah membentuk ABC BUMN Holding, dengan harapan kinerja anak perusahaan setelah dilakukan holding meningkat secara tajam. Sayangnya kinerja keuangan anak perusahaannya tidak lebih baik dari sebelum holding. Penelitian ini dimaksudkan untuk menganalisis kinerja anak perusahaan ABC BUMN sebelum dan setelah holding dan mencari faktor yang memengaruhi kinerjanya, dengan metode statistic non parametric dan diskusi dengan pakar. Hasil penelitian menunjukkan bahwa belum baiknya kinerja anak perusahaan antara lain disebabkan fokus Direksi holding masih pada restrukturisasi hutang anak perusahaan yang terbawa dari sebelum pembentukan holding, rendahnya produktivitas perkebunan sebagai dampak terlambat replenting, pemupukan dan pemeliharaan yang tidak sesuai standar, besarnya biaya revitalisasi pabrik gula yang belum mampu disiapkan oleh holding, sinergi antara perusahaan induk dan anak perusahaan belum berjalan dengan baik, dan adanya kecenderungan turunnya harga komoditas perkebunan. Kata kunci: Holding, Kinerja keuangan, rendahnya produktivitas perkebunan, statistic non parametric.

scholarly journals DAMPAK MEA TERHADAP INVESTASI, EKSPOR-IMPOR DAN PENGGUNAAN TENAGA KERJA INDONESIA

2019 ◽  
Vol 2 (2) ◽  
Author(s):  
Nur Khasanah ◽  
Prihartini Budi Astuti ◽  
Ika Neni Kristanti
Keyword(s):  
Economic Integration ◽  
Secondary Data ◽  
Economic Community ◽  
Foreign Investors ◽  
Before And After ◽  
The Government ◽  
Asean Economic Community ◽  
The Impact ◽  
Sample Pair ◽  
Made In

This research attempts to analyze the effects of the economic integration of the ASEAN Economic Community (AEC) which was implemented since 2015. The impact analyzed is focused on investments made in Indonesia, both investments made by foreign investors and domestic investors. Another thing that was also highlighted in this study was the flow of exports and imports. This was also investigated because one of the policies contained in the agreement of the ASEAN economic community was the elimination of international trade barriers. In addition to the two things above, researchers also analyzed the influence of the ASEAN economic community on the use oflabor in Indonesia. The data analyzed in this study are secondary data obtained from the relevant agencies. The method used in this study is a different sample pair test. This method is used because the research conducted is comparing the conditions of investment, export-import and use of labor in Indonesia before and after the economic integration of the ASEAN Economic Community. At the end of this study, researchers will provide recommendations to the government regarding what should be done by the government to optimize investment activities, exports and use of local labor in Indonesia.

scholarly journals ANALISIS PROFITABILITAS BANK UMUM SYARIAH YANG MENGGUNAKAN RASIO RETURN ON ASSET (ROA) DAN RETURN ON EQUITY (ROE)

2019 ◽  
Vol 3 (2) ◽  
pp. 117
Author(s):  
Muhammad Ash-Shiddiqy
Keyword(s):  
Financial Services ◽  
Secondary Data ◽  
Sampling Technique ◽  
Return On Assets ◽  
Return On Equity ◽  
Bank Deposits ◽  
Before And After ◽  
The Difference ◽  
Profitability Ratios ◽  
Conventional Bank

The purpose of this study is to understand the difference between Islamic banks' profits beforeand after interest restrictions on conventional bank deposits based on Supervision Acts No. SP-28 DKNS /OJK / 9/2014. The policies of Financial Services Authority can be measured into two profitability ratios:(1) return on assets (ROA), and (2) return on equity (ROE). There were 11 SHARIA banks in Indonesiaselected through purposive sampling technique. Secondary data were the quarterly report of the SHARIABank (six quarters), which focuses on the three quarters before and after implementing the policy. Datawere tested using hypothesis testing through paired sample t-tests with a significant level at 5% (α =0.05). The results of this study indicate that the profitability of SHARIA Banks projected by ROA and ROEhas differences before and after the conventional bank deposit interest rate.

scholarly journals Kebijakan Stock Split Perusahaan Non-Financial Di Indonesia: Manajemen Laba, Kinerja Operasi, Kinerja Pasar

Owner ◽  
2021 ◽  
Vol 5 (2) ◽  
pp. 345-357
Author(s):  
Amrie Firmansyah ◽  
Titi Sari Indriani
Keyword(s):  
Earnings Management ◽  
Stock Prices ◽  
Financial Services ◽  
Stock Exchange ◽  
Operating Performance ◽  
Market Performance ◽  
Secondary Data ◽  
Stock Split ◽  
Before And After ◽  
The Moment

The stock split policy shows the success of managers in managing the company. The condition of managers who have perfect information compared to shareholders, stock split policies may coincide with certain motives carried out by managers. This study examines differences in earnings management, operating performance, and market performance before and after the company conducts a stock split. This study employs secondary data sourced from www.idx.co.id, www.idnfinansials.com, and www.finance.yahoo.com. The data employed consists of data and information from financial statements and stock prices of non-financial companies listed on the Indonesia Stock Exchange from 2013 to 2019. The sample used in this study amounted to 64 observations based on purposive sampling. The data analysis test used the normality test and the Wilcoxon matched-pairs test. This study concludes that earnings management and market performance increase after the company's stock split is carried out. Meanwhile, operating performance did not experience any difference before and after the stock split was carried out. This study proves that managers employ the moment stock split to carry out earnings management for certain motives, even though the market participants positively respond to these actions. The companies that carry out stock splits should make these events to improve their operating performance. This study indicates that the Financial Services Authority needs to review companies with plans to conduct a stock split to protect investors in the capital market

scholarly journals How Are They Elected? Vote Buying And General Election In Ogan Ilir District, South Sumatera Province

2018 ◽  
Author(s):  
Jurnal ARISTO ◽  
Mery Yanti ◽  
Alamsyah
Keyword(s):  
Extended Family ◽  
Secondary Data ◽  
Political Support ◽  
General Election ◽  
Cash Transfer ◽  
Primary Data ◽  
Vote Buying ◽  
Winning Team ◽  
Before And After ◽  
The Government

This article designed to examine patronage practice in the 2014 general election in Ogan Ilir district, South Sumatera Province, Indonesia, before and after election in one electoral area (Ogan Ilir 1). We apply Nine Step to Victory (Alamsyah, 2015) framework to achieve this goal. Our key informants are some legislative candidates and their brokerage or winning team at various level. Primary data gathered through depth interview and secondary data collected from the government institution. This data will be analyzed using interactive model (Miles, Huberman, and Saldana, 1994). Drawing on the qualitative approach, we find that, before election day, all candidates in this area practicing vote buying and patronage to get political support from the voters. A form of patronage dominated by club goods, and cash transfer (transport allowance, communication and consumption cost, and vote buying). We do not find incumbency candidate who is practicing fork barrel. After election day, especially when the winner candidates, has been working as a legislator, he has an obligation to continuing patronage through informal and cultural networking (personal or community event). In this various event, he must deliver goods, services, or money to the people (as an individual or group). Our results are strengthening the previous finding that all candidates have begun implementing patronage strategy when they are recruiting the winning team, campaign, and realize vote buying. Family, especially extended family, and friendship is the primary foundation for all candidates to build brokerage (the winning team) structure. All candidates also using “by name by address” strategy to guide vote-buying practice. We discuss this finding, showing limitation and agenda for the research on this topic.

scholarly journals Analisis Perbandingan Kinerja Keuangan Perusahaan Sebelum Dan Sesudah Akuisisi (Studi Kasus Pada Perusahaan Go Public Non Bank Yang Terdaftar Di BEI Tahun 2012)

1970 ◽  
Vol 12 (2) ◽  
pp. 51-72
Author(s):  
Jean Natawigena ◽  
Fitra Oliyan
Keyword(s):  
Financial Performance ◽  
Quantitative Research ◽  
Economic Value ◽  
Value Added ◽  
Secondary Data ◽  
Public Companies ◽  
Return On Equity ◽  
Final Project ◽  
Before And After ◽  
Market Value Added

This final project aims to analyze the comparison of financial performance of non-bank go public companies listed on the IDX in 2012 before and after the acquisition. This research is quantitative research. The study was conducted using financial ratios, namely: ROE (Return On Equity), DER (Debt to Equity Ratio), EPS (Earning Per Share), TATO (Total Asset Turn Over), CR (Current Ratio), EVA (Economic Value Added), and MVA (Market Value Added). Measurement of financial performance in each company uses secondary data. The population in this study were all companies listed on the IDX that had made acquisitions, and the company announced its acquisition activity in 2012. The method in taking this study using purposive sampling, so that there were eight companies included in the criteria of this study, then the period of observation is 2011-2014. The test tool used is the SPSS version 20. The results of the study using one sample paired t test showed that the companies that acquired did not have differences in ROE, DER, EPS, TATO, CR, EVA and MVA before and after the acquisition.

scholarly journals Analisis Perbedaan Profitabilitas Sebelum dan Sesudah Memenangkan Top CSR (Corporate Social Responsibility)

1970 ◽  
Vol 13 (1) ◽  
pp. 76-92
Author(s):  
Sixtia Apriyana Asrul ◽  
Wiwik Andriani ◽  
Eka Rosalina
Keyword(s):  
Stock Exchange ◽  
Secondary Data ◽  
Financial Statements ◽  
Return On Assets ◽  
Return On Equity ◽  
Paired Sample ◽  
Net Profit ◽  
Before And After ◽  
Corporate Social ◽  
A Company

This study aimed to examine whether there are differences in the profitability of a company before and after winning TOP CSR. The data used in this study is secondary data obtained from the financial statements of companies listed on the Indonesia Stock Exchange for the period 2008-2017. The sample of this study consisted of 17 companies using purposive sampling, ie companies that won TOP CSR from 2011-2017, companies listed on the Indonesia Stock Exchange and companies that had issued 3 years of financial statements after winning the CSR TOP. The variable used in this study is profitability which is proxied by Return On Assets (ROA), Return On Equity (ROE) and Net Profit Margin (NPM). Hypothesis testing is carried out by Paired Sample T-test using the IBM SPSS Version 20 software. Based on the tests carried out, it can be concluded that there are differences in profitability as seen from the ROA side, whereas when viewed from the ROE and NPM side it is not there are differences in profitability.

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