Comparative Analysis Of Financial Performance During And After Privatization SOE

Abstract

Indonesia is trying to get out of its economic crisis, therefore the Government to privatize as one way out that must be pursued. Step consistent privatization is also one of the Government's commitment to the donor countries, and also the IMF. But on the other hand, many also argue that the wealth / state assets should not be sold to outsiders. They interpreted that selling state-owned is equal to the selling state. There is also an associate privatization problems with article 33 paragraph (2) of the 1945 Constitution which states that the branches of production that controls the lives of many people must be controlled by the state. The purpose of the study by eight state-owned object is to determine the extent to which the significance of these SOEs financial performance before and after privatization. This research used a comparative descriptive. Where, hypothesis testing is done by using t-test. In measuring the financial performance of this, the authors use the Ministerial Decree No. SOE: KEP-100/MBU/2002 with based on the financial aspects of eight indicators are: Return On Equity, Return On Investment, Cash Ratio, Current Ratio, Collection Period, Inventory Turnover, Total Asset Turnover, Total Equity to Total Assets. After testing the hypothesis with a significance level α = 0.05 is known that there was no significant difference from the level of financial performance of SOEs before and after privatization. This is because the main purpose of the government to privatize now is just to fill or cover the budget deficit, should aim to achieve is to Generated by Foxit PDF Creator © Foxit Software http://www.foxitsoftware.com For evaluation only. improve SOE performance itself. So if the financial performance of SOEs did not change / increase significantly as well in the years following the government decision to privatize should be reviewed.