PENILAIAN KINERJA INTERNAL DAN EKSTERNAL PERUSAHAAN BERBASIS PENCIPTAAN NILAI UNTUK PENYUSUNAN STRATEGI KEUANGAN DAN PENGAMBILAN KEPUTUSAN INVESTASI

Selvina, Yulita Eka and Sitinjak, Elizabeth Lucky Maretha and TRIMEININGRUM, ENY (2019) PENILAIAN KINERJA INTERNAL DAN EKSTERNAL PERUSAHAAN BERBASIS PENCIPTAAN NILAI UNTUK PENYUSUNAN STRATEGI KEUANGAN DAN PENGAMBILAN KEPUTUSAN INVESTASI. Jurnal Ekonomi dan Bisnis, 22 (1). pp. 23-44. ISSN 2528-0147

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Abstract

Performance measurement is crucial for firms, especially publicly listed ones, because of the constant demands to create values. Internal performance measurement aims to determine strategies that are relevant to firms’ conditions while external performance measurement helps investors make investment decisions. This qualitative study uses 40 publicly listed firms in the consumer goods industry for the period 2011-2015. From the internal performance measurement perspective, the results show that eight firms are in the A financial strategy matrix quadrant, 14 firms are in the B quadrant financial strategy matrix, two firms in the C financial strategy matrix quadrant and six firms are in the D financial strategy matrix quadrant. Meanwhile, from the external performance measurement perspective, eight firms are classified into the excellent value managers, 11 firms are classified into the expectation builders quadrant, 11 firms are categorized into the traditionalist quadrant, and none is categorized into the asset-loaded value managers quadrant. Further, from 30 sample firms, only four firms exhibited good performance, namely ADES, HMSP, UNVR, and MLBI. The findings imply that EPS (Earnings Per Share) represents both internal and external performance. For internal performance measurement purposes, EPS helps determine SGR (Sustainable Growth Rate) or the targeted growth rate of firms in the financial strategy matrix. Meanwhile, for external performance measurement purposes, EPS determines current performance. Overall, both internal and external performance create shareholders’ value in the form of distributable profits.

Item Type:	Article
Subjects:	300 Social Sciences > 330 Economics > Financial Economics > Personal Finance 600 Technology (Applied sciences) > 650 Management > 657 Accounting
Divisions:	Faculty of Economics and Business > Department of Accounting
Depositing User:	Dr Elizabeth Lucky Maretha
Date Deposited:	27 Sep 2022 06:12
Last Modified:	27 Sep 2022 06:12
URI:	http://repository.unika.ac.id/id/eprint/29467

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