Analisis Kinerja Keuangan Dengan Menggunakan Economic Value-Added Dan Financial Value-Added Pada PT. Perkebunan Nusantara XIV Kota Makassar
DOI:
https://doi.org/10.56326/access.v3i2.3262Keywords:
Kinerja Keuangan, Economic Value Added, Financial Value Added, Manajemen Keuangan, Nilai TambahAbstract
Penelitian bertujuan untuk menganalisis dan mengevaluasi kinerja keuangan PT. Perkebunan Nusantara XIV Kota Makassar menggunakan pendekatan Economic Value Added (EVA) dan Financial Value Added (FVA). Tujuan utamanya adalah untuk memahami sejauh mana perusahaan telah berhasil menciptakan nilai tambah ekonomis bagi para pemangku kepentingan dan untuk mengidentifikasi faktor-faktor yang mungkin menyebabkan penurunan nilai tambah tersebut. Penelitian ini menggunakan data sekunder berupa laporan keuangan perusahaan dari tahun 2017 hingga 2021. Metode analisis yang digunakan adalah kuantitatif deskriptif, di mana data diolah dan diinterpretasikan untuk memberikan gambaran yang komprehensif mengenai kinerja perusahaan. Hasil penelitian menunjukkan bahwa kinerja keuangan PT. Perkebunan Nusantara XIV yang diukur dengan metode nilai tambah cenderung mengalami penurunan. Nilai EVA dan FVA perusahaan berada di bawah nol, yang mengindikasikan bahwa perusahaan tidak mampu menciptakan nilai tambah selama periode pengamatan. Penurunan ini sebagian besar disebabkan oleh pengelolaan dana yang kurang optimal, baik yang berasal dari utang maupun ekuitas perusahaan, yang tidak dimanfaatkan secara produktif untuk mendukung pertumbuhan pendapatan. Temuan ini menegaskan pentingnya evaluasi kinerja berbasis nilai tambah sebagai alat yang lebih akuntabel dibandingkan metode akuntansi tradisional dalam mengukur efektivitas manajemen. Oleh karena itu, penelitian ini memberikan kontribusi dalam memperkuat pemahaman mengenai aplikasi EVA dan FVA dalam konteks bisnis perkebunan, serta menyajikan rekomendasi strategis bagi manajemen untuk meningkatkan efisiensi modal dan kinerja keuangan di masa depan.
This research aims to analyze and evaluate the financial performance of PT. Perkebunan Nusantara XIV Makassar City using the Economic Value Added (EVA) and Financial Value Added (FVA) approaches. The primary objective is to understand the extent to which the company has succeeded in creating economic added value for stakeholders and to identify factors that may have caused a decline in this added value. This study utilizes secondary data in the form of the company's financial statements from 2017 to 2021. The analytical method employed is descriptive quantitative, where data is processed and interpreted to provide a comprehensive overview of the company's performance. The results of the study indicate that the financial performance of PT. Perkebunan Nusantara XIV, as measured by the added value method, tends to decline. The company's EVA and FVA values are below zero, which suggests that the company was unable to create added value during the observation period. This decline is largely attributed to the sub-optimal management of funds, both from corporate debt and equity, which were not utilized productively to support revenue growth. These findings underscore the importance of value-based performance evaluation as a more accountable tool compared to traditional accounting methods in measuring management effectiveness. Therefore, this research contributes to strengthening the understanding of the application of EVA and FVA in the context of the plantation business, and provides strategic recommendations for management to improve capital efficiency and financial performance in the future.
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