Studi Tingkat Efisiensi: Perbandingan Besar Perusahaan dan Efek Krisis Ekonomi

Abstract

The purpose of this study are (I) to analyze the efficiency differences between large and
small firms. and (2) to analyze the impact of monetary crisis to efficiency, both large and
small firms_ All the manufacturing firms listed on the JSX are ranked by total assets. The
30 highest firms are categorized as the large firms and the 30 lowest firms are
categorized as the small firms. Data taken from the Indonesian Capital Market Directory
1999. Six financial ratio are used to represent the company efficiency. Those ratios are
consist of three categories: profitability, liquidity and operation. and leverage. In
general, the result of the study suggest that large and small firms have their own
efficiency niches. There are no differences between large and small firms with regard to
efficiency. In addition, consistent with Machfoedz's (1999) study. company efficiency are
impacted by economic crisis. and the large firms are more impacted by economic crisis
than the small one