FIRM PERFORMANCE FACTORS AND EFFICIENCY OF INDONESIAN PALM OIL COMPANIES

The palm oil industry is one of the agricultural, industrial sectors with a strategic role in the national economy, especially in Indonesia. Although this industry has a high contribution in Indonesia, the oil palm plantation companies have not shown satisfactory performance. Internal firm condition...

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Autores principales:	Arif Imam Suroso, Hansen Tandra, Mukhamad Najib, Yusman Syaukat
Formato:	article
Lenguaje:	EN ID
Publicado:	Bogor Agricultural University 2020
Materias:	Agriculture (General) S1-972 Business HF5001-6182
Acceso en línea:	https://doaj.org/article/cd9a25642d5647359eb2ba135b962330
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spelling	oai:doaj.org-article:cd9a25642d5647359eb2ba135b9623302021-11-04T04:20:00ZFIRM PERFORMANCE FACTORS AND EFFICIENCY OF INDONESIAN PALM OIL COMPANIES1693-58532407-252410.17358/jma.17.3.227https://doaj.org/article/cd9a25642d5647359eb2ba135b9623302020-11-01T00:00:00Zhttps://jurnal.ipb.ac.id/index.php/jmagr/article/view/34145https://doaj.org/toc/1693-5853https://doaj.org/toc/2407-2524The palm oil industry is one of the agricultural, industrial sectors with a strategic role in the national economy, especially in Indonesia. Although this industry has a high contribution in Indonesia, the oil palm plantation companies have not shown satisfactory performance. Internal firm conditions and macroeconomic variables may influence the performance of oil palm plantation companies. Therefore, this study aims to investigate the firm performance determinants and efficiency of oil palm companies in Indonesia. The samples in this research are 12 oil palm companies listed on the Indonesian Stock Exchange (BEI) for the 2014-2019 periods. The panel regression analysis and the Preference Ranking Organization Method for Enrichment Evaluation (PROMETHEE) are applied in this study. The first result in the panel regression shows that the firm size, exchange rate, and world CPO price affect ROA as the operational performance. Moreover, liquidity, leverage, and inflation do not affect ROA as operational performance. The second result in panel regression shows that inflation, exchange rate, and CPO World Price affect PER as the market performance. However, market performance is not affected by liquidity, leverage, and firm size. The efficiency analysis shows that the firm ranking tends to fluctuate in the observation period. This analysis defines that the oil palm plantation companies in Indonesia, on average, have a similar performance. Keywords: palm oil, firm performance, efficiency, internal conditions, macroeconomicsArif Imam SurosoHansen TandraMukhamad NajibYusman SyaukatBogor Agricultural UniversityarticleAgriculture (General)S1-972BusinessHF5001-6182ENIDJurnal Manajemen & Agribisnis, Vol 17, Iss 3, Pp 227-227 (2020)
institution	DOAJ
collection	DOAJ
language	EN ID
topic	Agriculture (General) S1-972 Business HF5001-6182
spellingShingle	Agriculture (General) S1-972 Business HF5001-6182 Arif Imam Suroso Hansen Tandra Mukhamad Najib Yusman Syaukat FIRM PERFORMANCE FACTORS AND EFFICIENCY OF INDONESIAN PALM OIL COMPANIES
description	The palm oil industry is one of the agricultural, industrial sectors with a strategic role in the national economy, especially in Indonesia. Although this industry has a high contribution in Indonesia, the oil palm plantation companies have not shown satisfactory performance. Internal firm conditions and macroeconomic variables may influence the performance of oil palm plantation companies. Therefore, this study aims to investigate the firm performance determinants and efficiency of oil palm companies in Indonesia. The samples in this research are 12 oil palm companies listed on the Indonesian Stock Exchange (BEI) for the 2014-2019 periods. The panel regression analysis and the Preference Ranking Organization Method for Enrichment Evaluation (PROMETHEE) are applied in this study. The first result in the panel regression shows that the firm size, exchange rate, and world CPO price affect ROA as the operational performance. Moreover, liquidity, leverage, and inflation do not affect ROA as operational performance. The second result in panel regression shows that inflation, exchange rate, and CPO World Price affect PER as the market performance. However, market performance is not affected by liquidity, leverage, and firm size. The efficiency analysis shows that the firm ranking tends to fluctuate in the observation period. This analysis defines that the oil palm plantation companies in Indonesia, on average, have a similar performance. Keywords: palm oil, firm performance, efficiency, internal conditions, macroeconomics
format	article
author	Arif Imam Suroso Hansen Tandra Mukhamad Najib Yusman Syaukat
author_facet	Arif Imam Suroso Hansen Tandra Mukhamad Najib Yusman Syaukat
author_sort	Arif Imam Suroso
title	FIRM PERFORMANCE FACTORS AND EFFICIENCY OF INDONESIAN PALM OIL COMPANIES
title_short	FIRM PERFORMANCE FACTORS AND EFFICIENCY OF INDONESIAN PALM OIL COMPANIES
title_full	FIRM PERFORMANCE FACTORS AND EFFICIENCY OF INDONESIAN PALM OIL COMPANIES
title_fullStr	FIRM PERFORMANCE FACTORS AND EFFICIENCY OF INDONESIAN PALM OIL COMPANIES
title_full_unstemmed	FIRM PERFORMANCE FACTORS AND EFFICIENCY OF INDONESIAN PALM OIL COMPANIES
title_sort	firm performance factors and efficiency of indonesian palm oil companies
publisher	Bogor Agricultural University
publishDate	2020
url	https://doaj.org/article/cd9a25642d5647359eb2ba135b962330
work_keys_str_mv	AT arifimamsuroso firmperformancefactorsandefficiencyofindonesianpalmoilcompanies AT hansentandra firmperformancefactorsandefficiencyofindonesianpalmoilcompanies AT mukhamadnajib firmperformancefactorsandefficiencyofindonesianpalmoilcompanies AT yusmansyaukat firmperformancefactorsandefficiencyofindonesianpalmoilcompanies
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FIRM PERFORMANCE FACTORS AND EFFICIENCY OF INDONESIAN PALM OIL COMPANIES

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