Pengaruh Tingkat Efisiensi Dan Harga Komoditas Batubara Terhadap Kinerja Perusahaan Pertambangan Batubara
DOI:
https://doi.org/10.20527/jwm.v13i3.365Keywords:
Efficiency, Coal price, Company Performance, Data Envelopment AnalysisAbstract
This study aims to measure the level of efficiency and empirically test the relationship between the level of efficiency of coal commodity prices with the performance of coal mining companies listed on the Indonesia Stock Exchange. The sample used is a company listed on the Indonesia Stock Exchange from 2011 to 2016. DEA (Data Envelopment Analysis) method is used to measure the efficiency of a company by using its input structure and output structure. Testing the relationship between the level of efficiency of coal commodity prices with company performance is done by panel data regression method using STATA.
The results showed that the efficiency level of most coal mining sector companies operating in Indonesia is quite high. Of the 11 companies only 6 companies are always experiencing continuous efficiency within a period of 6 years. Only 2 companies achieved an efficiency score below 50% within the same time frame. It was found that the efficiency had no significant impact to company performance. Differently, it was found that coal price level had significant impact to company performance. It was also found that coal price can’t moderate the relationship between efficiency and performance levels. This research is expected to open new insights related to the relationship between efficiency level, coal price and company performance of coal mining sector
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