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  6. Assessment of Criteria for Performance E ...

Journal of Security and Sustainability Issues

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Assessment of Criteria for Performance Excellence (KPKU) and Firm Performance: Evidence from Indonesia
Volume 9, Issue 3 (2020), pp. 1077–1088
Melinda Cahyaning Ratri   Iman Harymawan   John Nowland  

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https://doi.org/10.9770/jssi.2020.9.3(31)
Pub. online: 30 March 2020      Type: Article      Open accessOpen Access

Published
30 March 2020

Abstract

This study aims to examine whether the assessment of Criteria for Performance Excellence (KPKU) is related to the firm performance of States-Owned Enterprise (SOE) in Indonesia. This study uses 82 firms-year observations from 19 State-Owned Enterprise listed on the Indonesia Stock Exchange (IDX) for the period 2009 to 2018. This study found that KPKU assessment was positively related to firm performance. This shows that KPKU assessment can be a signal that the company has good performance. The study also found that the positive relationship between KPKU assessment and company performance is stronger in companies audited by Big 4 and in big-sized companies. This study is the first research that discusses the relationship between KPKU assessment and firm performance. This study may be useful for practitioners and academics that are interested in the subject of SOE performance assessment. The results suggest to conduct a regular KPKU assessment because it can be useful to provide a positive signal for shareholders and potential investors.

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Keywords
KPKU assessment firm size firm performance states owned company

JEL
L25 G30 M10

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Generolo Jono Žemaičio Lietuvos karo akademija Šilo g. 5A., LT-10322 Vilnius, el.p: lka@mil.lt

General Jonas Žemaitis Military Academy of Lithuania  Šilo Str. 5A, LT-10322 Vilnius, Lithuania, e-mail: lka@mil.lt

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