Analisis Diversifikasi Perusahaan Terhadap Kinerja Perusahaan pada Beberapa Perusahaan yang Terdaftar di Bursa Efek Indonesia

Berta Lestari, Aris Setia Noor

Abstract


ABSTRACT

Companies that diversify both low and high have asset sizes that can be used as collateral to facilitate obtaining external funds where high levels of debt pose risks and affect performance. In addition, sales growth that arises due to the success of product development or production as a result of company investment, also affects performance. The purpose of this study was to analyze the company's diversification of the company's performance. In this study the samples used were several companies listed on the Indonesia Stock Exchange (IDX). The sample used in this study is companies that do high diversification except companies in the fields of finance, property, and media that publish financial reports in full and recorded as well as status of Domestic Capital Investors instead of Foreign Investment with a total sample of 100 more companies. Samples were taken using the purposive sampling method. The analytical method used is a multiple linear regression analysis model carried out with the help of the SPSS for windows computer program, Lisrel. Based on the results of the study there are not significant differences between the performance of lowly diversified firms and highly diversified firms of 0.1711 where the Market Value Added average of highly diversified firms is lower than lowly diversified firms. The group of highly diversified firms has lower performance due to several things such as management inefficiency, increased costs due to the complexity of coordination and less responsible actions in carrying out diversification strategies.

Keywords : Company Diversification, Company Performance

ABSTRAK

Perusahaan yang melakukan diversifikasi baik rendah maupun tinggi memiliki ukuran aset yang dapat dijadikan jaminan untuk mempermudah dalam memperoleh dana eksternal di mana tingkat utang yang tinggi menimbulkan risiko dan mempengaruhi kinerja. Selain itu, pertumbuhan penjualan yang timbul karena adanya keberhasilan pengembangan produk atau produksi sebagai hasil investasi perusahaan, juga mempengaruhi kinerja. Tujuan dari penelitian ini adalah untuk menganalisis diversifikasi tinggi perusahaan terhadap kinerja perusahaan.Dalam penelitian ini sampel yang digunakan adalah beberapa perusahaan yang terdaftar di Bursa Efek Indonesia (BEI). Sampel yang digunakan dalam penelitian ini  yaitu perusahaan – perusahaan yang melakukan diversifikasi tinggi kecuali perusahaan bidang keuangan, properti, dan media yang menerbitkan laporan keuangan secara lengkap dan yang tercatat serta berstatus Penanman Modal Dalam Negeri bukan Penanaman Modal Asing dengan sampel total 100 lebih perusahaan . Sampel diambil dengan menggunakan metode purposive sampling. Metode analisis yang digunakan adalah model analisis regresi linear berganda yang dilakukan dengan bantuan program komputer SPSS  for windows, Lisrel . Berdasarkan hasil penelitian terdapat perbedaan yang tidak signifikan antara kinerja lowly diversified firms dan highly diversified firms sebesar 0,1711 dimana rata – rata Market Value Added highly diversified firms lebih rendah dibandingkan dengan lowly diversified firms. Kelompok highly diversified firms mempunyai kinerja yang lebih rendah dikarenakan beberapa hal seperti inefesiensi pengelolaan, peningkatan biaya akibat kompleksitas koordinasi dan tindakan yang kurang bertanggung jawab dalam menjalankan strategi diversifikasi.

Kata Kunci : Diversifikasi Perusahaan, Kinerja Perusahaan

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