ANALISIS KETAHANAN SEKTOR KORPORASI DI INDONESIA ANALYSIS THE RESILIENCE OF CORPORATIONS IN INDONESIA
Abstract
This study aims to determine the corporate resilience in Indonesia and to determine the influence of macroeconomics variabels on Corporate Resilience Index. The data in this study are in the form of quarterly time series from year 2010Q1 to 2017Q4. The dependent indicator in this study is the corporate resilience index. The dependent indicator is formed through four components namely profitability, efficiency, solvability and macroeconomics. While the independent indicator in this research consist of two parts which are internal variable and external variable. Internal variables include Return on Asset (ROA), Return on Equity (ROE), Debt on Equity Ratio (DER) on two commodities, namely palm oil and coal. The external variables include inflation, exchange rate and Gross Domestic Product (GDP). This research result shows that based on calculations using composite index (corporate resilience index) in the form of corporate resilience index that in the year 2011Q1-2011Q3 and 2015Q1, the corporations go trough crises level or vulnerable. The vulnerability of the corporation is caused by external shocks and internal shocks. The conclusion of this research is exchange rate, inflation and GDP effect on Resilience Corporate Index. The suggestion from this research is that Advice from research is Government as monetary authorities must constantly monitor and keep the rupiah's exchange rate against other currencies to keep appreciation or strengthened.