The Effect of Financial Restructuring, Firm Size and Sales Growth on Firm Performance (Balance Scorecard): The Case of State-Owned Enterprises in Indonesia
DOI:
https://doi.org/10.47747/ijfr.v6i2.2806Keywords:
Financial Restructuring, Firm Size, Sales Growth, Firm Financial PerformanceAbstract
This study aims to determine and analyze the Effects of Financial Restructuring, Company Size, and Sales Growth on Company Performance (as measured by the Balanced Scorecard) in BUMN Companies throughout Indonesia. The population in this study consisted of 21 BUMN Companies that underwent restructuring. The Sampling Technique used in this study was Purposive Sampling. In this study, the samples consisted of 9 companies that published complete financial reports and performance reports and carried out restructuring from 2018 to 2023. The analysis technique employed was multiple linear regression. The results of this study indicate that financial restructuring, company size, and sales growth together have a significant effect on company performance (balanced scorecard), partially financial restructuring does not affect company performance (balanced scorecard), company size affects company performance (balanced scorecard), and sales growth affects company performance (balanced scorecard). These findings have practical implications for financial restructuring and company performance in the BUMN sector.
References
As’ari, H. A. S. I. M., Airawaty, D., & Zaman, B. (2020). Pengaruh Restrukturisasi Keuangan Terhadap Kinerja Perusahaan Grup Dan Non-Grup Studi Kasus Pada Perusahaan yang Terdaftar di Bursa Efek Indonesia. JAE: Jurnal Akuntansi & Ekonomi, 5(1), 61-68. https://repository.unpkediri.ac.id/4821/
Brigham, E. F., & Houston, J. F. (2019). Fundamentals of financial management. Cengage Learning. https://thuvienso.hoasen.edu.vn/handle/123456789/11493
Adhiambo, C. (2021). The Effect of Financial Restructuring on Performance of Insurance Companies in Kenya (Doctoral dissertation, University of Nairobi). https://erepository.uonbi.ac.ke/handle/11295/157259
Felicia, F. (2021). Pengaruh Manajemen Aset, Pertumbuhan Penjualan, Leverage, Dan Ukuran Perusahaan Terhadap Kinerja Perusahaan Dengan Variabel Kontrol Umur Perusahaan Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia Periode 2017-2019 (Doctoral dissertation, Universitas Tarumanagara). https://repository.untar.ac.id/21695/
Harahap, S. S. (2011). Analisis kritis atas laporan keuangan. Jakarta: Rajawali Pers. https://library.stik-ptik.ac.id/detail?id=44897&lokasi=lokal
Hery. (2017). Analisis Laporan Keuangan. Jakarta: Grasindo.
Jirwanto, H., Aqsa, M.A., Agusven, T., Herman, H., & Azka, V.S. (2024). Manajemen Keuangan. Padang: CV. AZKA. https://books.google.co.id/books/about/Manajemen_Keuangan.html?id=H_36EAAAQBAJ&redir_esc=y
Kasmir. (2018). Analisis Laporan Keuangan, Cetakan Ke-12. Depok: PT. Raja Grafindo Persada. https://www.rajagrafindo.co.id/produk/analisis-laporan-keuangan/
Krause, H. U., & Arora, D. (2019). Key performance indicators for sustainable management: a compendium based on the “balanced scorecard approach”. Walter de Gruyter GmbH & Co KG. https://books.google.com/books?hl=en&lr=&id=8zzEDwAAQBAJ&oi=fnd&pg=PR7&dq=Krause,+Hans+Ulrich+and+Arora,+Dayanand.+2020.+Key+Performance+Indicators+for+Sustainable+Management+-+A+Compendium+Based+on+the+%E2%80%9CBalanced+Scorecard+Approach%E2%80%9D.+Berlin/Boston+:+De+Gruyter+Oldenbourg.&ots=S1MEB4MAYv&sig=vYy-sHYn4FpkQkWLq_z4sTToVUs
Maulina, R., & Mulyadi, R. (2021). Restrukturisasi kredit dalam pelaksanaan kebijakan countercyclical dampak penyebaran covid-19 di PT. BPRS Baiturrahman. Akbis: Media Riset Akuntansi Dan Bisnis, 4(1), 38-44. http://jurnal.utu.ac.id/jakbis/article/view/2740
Mikha, T. A., & Totok, D. (2018). Pengaruh Tata Kelola Perusahaan, Ukuran Perusahaan, dan Umur Perusahaan Terhadap Kinerja Perusahaan. Diponegoro Journal of Accounting, 7(1), -10.
Norley, L., Swanson, J., & Marshall, P. (2008). A practitioner’s guide to corporate restructuring. City & Financial Publishing. https://books.google.com/books/about/A_Practitioner_s_Guide_to_Corporate_Rest.html?id=vodRPgAACAAJ
Nathania, K. (2023). Pengaruh Restrukturisasi Perusahaan Terhadap Kinerja Keuangan Perusahaan (Studi Pada Perusahaan Bumn Yang Terdaftar Pada Peraturan Pembentukan Bumn Prioritas Tahun 2021). Skripsi. Fakultas Ekonomi dan Bisnis Universitas Lampung Bandar Lampung 2023. http://digilib.unila.ac.id/75247/
Partiwi, R., & Herawati, H. (2022). Pengaruh Kepemilikan Institusional, Leverage Dan Ukuran Perusahaan Terhadap Kinerja Perusahaan. Jurnal Kajian Akuntansi Dan Auditing, 17(1), 29-38. DOI: https://doi.org/10.37301/jkaa.v17i1.76
Puspita, D., & Hermanto, H. (2023). Pengaruh Modal Kerja, Total Aset, dan Pertumbuhan Penjualan terhadap Kinerja Perusahaan dengan Dimoderasi Kebijakan Hutang. Ekonomis: Journal of Economics and Business, 7(1), 451-458. http://ekonomis.unbari.ac.id/index.php/ojsekonomis/article/view/793
Rahayu, C. F., & Mulyani, N. (2024). Influence of company size, capital intensity, sales growth and profit management against tax avoidance. Educoretax, 4(8), 1054-1065. http://jurnalku.org/index.php/educoretax/article/view/1075
Sujarweni, V. W. (2015). Sistem Akuntansi. Yogyakarta: Pustaka Baru Press. https://onesearch.id/Author/Home?author=Sujarweni%2C+V.+Wiratna
Sunardi, N., & Sasmita, A. S. (2019). Pengaruh Likuiditas, Leverage Dan Growth Terhadap Kinerja Industri Makanan Dan Minuman Yang Tercatat Di Indonesia Stock Exchange Selama Periode Tahun 2011-2015. Jurnal Sekuritas, 2(2), 81-97. https://www.academia.edu/download/86319055/1967.pdf
Suryani, S. (2021). Pengaruh profitabilitas, ukuran perusahaan, pertumbuhan penjualan dan kualitas audit terhadap tax avoidance. Jurnal Akuntansi Dan Keuangan, 10(1), 19-36. DOI: https://doi.org/10.36080/jak.v10i1.1428
Tamara, Y., & Khairani, S. (2023). Pengaruh Pengungkapan Sustainability Report, Ukuran Perusahaan Terhadap Kinerja Perusahaan. In MDP Student Conference, 2(2), 501-506. DOI: https://doi.org/10.35957/mdp-sc.v2i2.4334
Yuniastuti, R. M. (2019). analisis pertumbuhan penjualan, profitabilitas dan likuiditas terhadap kinerja perusahaan otomotif yang terdaftar di Bursa Efek indonesia. GEMA: Journal of Gentiaras Management and Accounting, 11(2), 148-157. http://jurnal.gentiaras.ac.id/index.php/Gema/article/view/166
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2025 Melita Ulandari, Yuhanis Ladewi, Fadhil Yamaly
This work is licensed under a Creative Commons Attribution 4.0 International License.
Copyright for this article is retained by the author(s), with first publication rights granted to the journal.
It is an open-access article distributed under the terms and conditions of the Creative Commons Attribution license (http://creativecommons.org/licenses/by/4.0/)
