EVALUASI PERBEDAAN KINERJA BADAN USAHA MILIK NEGARA DAN PERUSAHAAN SWASTA YANG GO PUBLIK SEBELUM DAN SELAMA KRISIS MONETER
Oleh :
Yeni Wulan Sari

The objective of the research is to test whether there are significant difference in a State-Owned Enterprices Echoed’s performance before and during the monetary crisis and compare its performance with the financial performance of private enterprices both in general an in industrial sector.The period of 1995 and 1996 was regarded as the period before the monetary crisis, while the period of 1998 and 1999 was regarded as the period during the monetary crisis. The financial performance of State-Owned Enterprices Echoed (SOEs) and private enterprices are measured using financial ratio. There were seven financial ratio used as the indicators of the State-Owned Enterprices Echoed (SOEs) and the private enterprice performance. Those ratios are consist of three ratio categories: liquidity, solvability and profitability.

Samples in the study are 10 public companies listed in the Jakarta Stock Exchange, they are 5 SOEs and 5 private enterprices. Purposive sampling is obtained from 5 SOEs and 8 private enterprices. The parametric and non parametric statistic method of t-test, Wilxocon’Signed Rank Test, Mann-Whitney test and manova were used to test the hypothesis.

The result shows that all SOEs’s financial ratio before and during the monetary crisis are not significantly different. The result shows that monetary crisis is not significanly effect the SOEs’s performance. The performance comparison between SOEs with private enterprices o n the period before the monetary crisis also shows that there are not significant differences. o n the other hand, most SOEs’s financial ratio and the private enterprices’s financial ratio during the monetary crisis shows a significant differences, o nly DER and ROE statistically shows no significant differences. After observing the mining and the cement industrial sector, the performance comparison between SOEs with private enterprices o n the period before and during the monetary crisis shows no significant differences.

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