Dampak Proses Go Public Terhadap Profitabilitas Bank Umum

Buditianingsih, Karina (2020) Dampak Proses Go Public Terhadap Profitabilitas Bank Umum. Masters thesis, Institut Teknologi Sepuluh Nopember.

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Abstract

Berbagai alasan mendasari pemilik perusahaan untuk melakukan proses Go Public seperti meningkatkan aspek permodalan perusahaan, meningkatkan kesejahteraan pemilik perusahaan menjadi bentuk yang lebih likuid, dan mengatasi kendala peminjaman. Keputusan Go Public akan selalu berdampak pada kinerja perusahaan. Hal ini disebabkan ada kemungkinan bagi perusahaan yang menerima dana dari proses Go Public untuk tidak mampu mengelola dana tersebut sehingga menyebabkan adanya surplus ekuitas dan berdampak pada penurunan kinerja perusahaan, salah satunya dari segi profitabilitas. Penelitian ini menggunakan teknik purposive sampling menghasilkan 3 sampel bank yang melakukan IPO pada periode tahun 2014 dengan kategori Bank BUKU 2. Perubahan profitabilitas perusahaan akibat proses Go Public dianalisis dengan menggunakan rasio keuangan Net Profit Margin (NPM) dan Gross Profit Margin (GPM). Rasio ini digunakan selain untuk mengetahui perubahan profitabilitas pasca Go Public, juga untuk mengetahui kemampuan perusahaan dalam melakukan efisiensi biaya. Uji hipotesis berupa uji t berpasangan dilakukan terhadap Net Profit Margin (NPM) dan Gross Profit Margin (GPM) dari 3 sampel bank dengan periode 4 tahun sebelum dan sesudah Go Public. Berdasarkan hasil uji t berpasangan yang didasarkan rasio Gross Profit Margin (GPM), profitabilitas perusahaan pasca Go Public sesuai sampel di atas dinyatakan tidak berbeda dengan profitabilitas perusahaan sebelum Go Public. Tidak adanya pengaruh Go Public tersebut dikaitkan dengan ketidakmampuan perusahaan dalam melakukan efisiensi pada beban biaya. Hasil yang berbeda ditunjukkan oleh hasil uji t berpasangan yang didasarkan rasio Net Profit Margin (NPM). Berdasarkan uji tersebut, proses Go Public dinyatakan memberikan pengaruh terhadap profitabilitas perusahaan. Namun, pengaruh yang ditunjukkan tidak memberikan hasil yang positif terhadap pertumbuhan laba, melainkan penurunan kinerja pada segi profitabilitas. Penurunan profitabilitas tersebut dikaitkan dengan ketidakmampuan bank dalam melakukan efisiensi terhadap keseluruhan biaya terutama oleh beban bunga. ========================================================= Various reasons underlie company owners to go public, such as increasing the capital aspect of the company, increasing the prosperity of company owners to a more liquid form, and overcoming borrowing constraints. Going public decisions will always have an impact on company performance. This is because there is a possibility that companies that receive funds from the Go Public process will not be able to manage these funds, causing a surplus of equity and an impact on company performance, one of which is in terms of profitability. This study used purposive sampling technique to produce 3 samples of banks that conducted IPOs in the 2014 period with the category BUKU 2 banks. Changes in company profitability due to the Go Public process were analyzed using financial ratios of Net Profit Margin (NPM) and Gross Profit Margin (GPM). This ratio is used not only to determine changes in profitability after going public, but also to determine the company's ability to make cost efficiency. Hypothesis testing in the form of paired t test was carried out on Net Profit Margin (NPM) and Gross Profit Margin (GPM) from 3 sample banks with a period of 4 years before and after going public. Based on the results of the paired t test based on the ratio of Gross Profit Margin (GPM), the profitability of companies after going public according to the sample above is stated to be no different from the profitability of the company before going public. The absence of the Go Public influence is associated with the company's inability to make efficiency at cost. Different results are indicated by the paired t test results based on the Net Profit Margin (NPM) ratio. Based on this test, the Go Public process is stated to have an influence on company profitability. However, the effect shown does not provide a positive result on profit growth, but a decrease in performance in terms of profitability. The decline in profitability was associated with the inability of banks to carry out efficiency in overall costs, particularly by interest expenses.

Item Type: Thesis (Masters)
Uncontrolled Keywords: Go Public, Gross Profit Margin (GPM), Net Profit Margin (NPM), Profitabilitas Go Public, Gross Profit Margin (GPM), Net Profit Margin (NPM), and Profitability
Subjects: H Social Sciences > HG Finance > HG4529 Investment analysis
Divisions: 61101-Magister Management Technology
Depositing User: Karina Buditianingsih
Date Deposited: 26 Aug 2020 03:20
Last Modified: 26 Aug 2020 03:20
URI: https://repository.its.ac.id/id/eprint/79021

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