Pengaruh Diversifikasi Berkaitan Dan Tidak Berkaitan Terhadap Kinerja Keuangan Perusahaan Yang Listing Di BEI Manufaktur, Pertambangan Perdagangan Dan Jasa Tahun 2010
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Institusion
STIE Indonesia Banking School
Author
Maringan, Sintong
Subject
HF5601 Accounting
Datestamp
2024-07-17 06:38:36
Abstract :
Two major of diversification strategies of firm are examined: diversification into related businesses and diversification into unrelated businesses. For many years, there have been debates about the cost and benefit of corporate diversification strategy. For that reason, the objective of this study was to analyze the influence of related and unrelated diversification toward firm?s performance. This research using Liquidity (Current Ratio), Profitability (Return On Asset) and Solvability (Debt to Equity) as dimensions of financial company?s performance. Moreover independent variables in this analysis were type of diversification which is using Rumelt?s Related Ratio to measure this variable. In addition, the analysis used control variables of total asset to eliminate the mistakes in drawing the conclusions. Furthermore, the sample was the secondary data from Indonesia Stock Exchange (BEI/ Bursa Efek Indonesia), i.e. the annual report of manufacture, mining, trade and service company listed on 2010 in BEI. The sample was taken using the method of purposive sampling. The sample was 65 diversified companies consisted of 18 unrelated diversified and 47 related diversified. The statistics method was multiplied linear regression analysis, with hypotheses testing of t-test and F test. These analysis found that related and unrelated diversified company have significant effect towards liquidity and solvability as a measure of financial performance but related diversified and unrelated diversified strategy has no effect on profitability as a measure of financial performance. Keywords: Related diversification, unrelated diversification, current ratio, Return on Asset, Debt to Equity, segment sale.
Two major of diversification strategies of firm are examined: diversification into related businesses and diversification into unrelated businesses. For many years, there have been debates about the cost and benefit of corporate diversification strategy. For that reason, the objective of this study was to analyze the influence of related and unrelated diversification toward firm?s performance. This research using Liquidity (Current Ratio), Profitability (Return On Asset) and Solvability (Debt to Equity) as dimensions of financial company?s performance. Moreover independent variables in this analysis were type of diversification which is using Rumelt?s Related Ratio to measure this variable. In addition, the analysis used control variables of total asset to eliminate the mistakes in drawing the conclusions. Furthermore, the sample was the secondary data from Indonesia Stock Exchange (BEI/ Bursa Efek Indonesia), i.e. the annual report of manufacture, mining, trade and service company listed on 2010 in BEI. The sample was taken using the method of purposive sampling. The sample was 65 diversified companies consisted of 18 unrelated diversified and 47 related diversified. The statistics method was multiplied linear regression analysis, with hypotheses testing of t-test and F test. These analysis found that related and unrelated diversified company have significant effect towards liquidity and solvability as a measure of financial performance but related diversified and unrelated diversified strategy has no effect on profitability as a measure of financial performance. Keywords: Related diversification, unrelated diversification, current ratio, Return on Asset, Debt to Equity, segment sale.
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