Published: 2024-06-01
The Role Of Business Diversification, Education And Development Activities On Business Performance Of Construction Companies Listed In Indonesian Stock Exchange
DOI: 10.35870/jemsi.v10i3.2421
Downloads
Abstract
The aim of this research is to analyze the development of companies in the capital market, especially in the accounting aspect. The companies in this study consist of a large number of subsidiaries, associated companies, and multi-group companies. This is an applied study that uses developments in accounting doctrine, particularly those that influence balance sheet analysis, comparison of financial statements over time, and ratios. The analysis results indicate an increase in stock prices, followed by a general decline the following year, likely due to changes in the economic cycle. Regarding the debt situation, there has been a significant increase. Despite this, increases continued, reaching figures that would be difficult to maintain in the future. The following year, the figure decreased due to the crisis and the disinvestment process mentioned earlier. From this analysis, it appears that the construction group experienced significant challenges in managing their debt and assets over the period, which is reflected in their share price movements, turnover, and results. The composition and variations of the group's balance sheet showed major changes during the period, mainly due to the expansion of lines of activity that required large investments in permanent structures. This situation is unsustainable and requires significant disinvestment. This shows that the capital and financial management of these groups play a very important role in maintaining the stability and growth of their companies. Additionally, we must carefully make investment decisions and manage debt to avoid creating unwanted risks in the future.
Keywords
Article Information
This article has been peer-reviewed and published in the JEMSI (Jurnal Ekonomi, Manajemen, dan Akuntansi). The content is available under the terms of the Creative Commons Attribution 4.0 International License.
-
Issue: Vol. 12 No. 1 (2026)
-
Section: Articles
-
Published: %750 %e, %2024
-
License: CC BY 4.0
-
Copyright: © 2024 Authors
-
DOI: 10.35870/jemsi.v10i3.2421
AI Research Hub
This article is indexed and available through various AI-powered research tools and citation platforms. Our AI Research Hub ensures that scholarly work is discoverable, accessible, and easily integrated into the global research ecosystem. By leveraging artificial intelligence for indexing, recommendation, and citation analysis, we enhance the visibility and impact of published research.
No author biographies available.
-
Supri, B., Rudianto, Abdurohim, Badriatul Mawadah, & Helmi Ali. (2023). Asian Stock Index Price Prediction Analysis Using Comparison of Split Data Training and Data Testing. JEMSI (Jurnal Ekonomi, Manajemen, Dan Akuntansi), 9(4), 1403–1408. https://doi.org/10.35870/jemsi.v9i4.1339
-
Reinartz. (2019). An empiricalcomparison of the efficacy of covarian-based and variance-based SEM. International Journal of Research in Marketing, 26, 332-344.
-
Hendayani, N., Mursalin, A., Judijanto, L., Durya, N. P. M. A., & Utama, N. U. (2023). Analysis Of The Influence Of Dividend Payout Ratio, Investment Opportunity Set And Return On Asset On The Value Of Manufacturing Companies. JEMSI (Jurnal Ekonomi, Manajemen, dan Akuntansi), 9(6), 2558-2563.
-
Tannady, H., Nuzulya Pahlawi, Moch Arif Hernawan, Deddy Novie Citra Arta, & Sri Dewi Yusuf. (2023). Role of Stock Performance as an Intervening Variable in a Relationship Between Profitability, Leverage, Growth and Company Value. JEMSI (Jurnal Ekonomi, Manajemen, Dan Akuntansi), 9(2), 220–225. https://doi.org/10.35870/jemsi.v9i2.1016
-
Andreas, C., Wijaya, S., & Sembiring, J. C. (2021). Effect of Liquidity, Asset Management, Leverage and Dividend Policy on Firm Value at Food and Beverages Companies Listed on the Indonesia Stock Exchange. Budapest International Research and Critics Institute-Journal (BIRCI-Journal), 4(2), 2695-2701.
-
Permatasari, P. D., & Agustina Widodo. (2023). Comparative Analysis Of Stock Liquiditi Level, Price Share And Stock Returns Before And After Stock Split On The Compass 100 Index Year 2017-2021. JEMSI (Jurnal Ekonomi, Manajemen, Dan Akuntansi), 9(3), 774–782. https://doi.org/10.35870/jemsi.v9i3.1165
-
Wicaksono, E., dkk. (2020). Indonesian Middle-Class Consumption Patterns and VAT Burden. Kajian Ekonomi & Keuangan Kementerian Keuangan, 3(1), 1- 16.
-
Wijayanti, T. C., Naim, S., Hendayani, N., Alfiana, A., & Hanum, F. (2024). Identify the Use of Economics for Family Financial Management in Digital Days. Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE), 7(1), 325-345.
-
Hendayani, N., Muzakir, M., Yuliana, Y., Asir, M., & Wahab, A. (2022). Best Practice of Financial Management in SMEs Operation in Digital times. Budapest International Research and Critics Institute-Journal (BIRCI-Journal), 5(1), 3350-3361.
-
Anggriawan, R., Wijaya, V., Anderson, W., & Sembiring, J. C. (2022). Pengaruh Profitabilitas, Leverage, Loan To Asset Ratio Dan Beban Operasional Pendapatan Opersional (Bopo) Terhadap Tax Avoidance (Studi Pada Perusahaan Perbankan Yang Terdaftar Di Bei Tahun 2017-2020). Jurnal AKMAMI (Akuntansi Manajemen Ekonomi), 3(1), 108-114.
-
Sembiring, J. C., Elisa, E., & Wijaya, D. V. (2023). Pengaruh Struktur Modal, Kebijakan Dividen, Likuiditas, Solvabilitas Dan Profitabilitas Terhadap Nilai Perusahaan (Studi Kasus Pada Perusahaan Manufaktur Sub Sektor Makanan Dan Minuman Yang Terdaftar Di Bei Tahun 2018-2021). Journal of Economic, Bussines and Accounting (COSTING), 7(1), 1200-1209.
-
Hermiyetti, H., Rina Apriliani, Muhammad Hery Santoso, Murwani Wulansari, & Agoes Hadi Poernomo. (2023). The Role of Good Corporate Governance as a Moderating Variable in Relationship Between Solvency, Company Size, Liquidity and Stock Price. JEMSI (Jurnal Ekonomi, Manajemen, Dan Akuntansi), 9(4), 1247–1253. https://doi.org/10.35870/jemsi.v9i4.1285
Authors who publish with this journal agree to the following terms:
1. Copyright Retention and Open Access License
Authors retain copyright of their work and grant the journal non-exclusive right of first publication under the Creative Commons Attribution 4.0 International License (CC BY 4.0).
This license allows unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
2. Rights Granted Under CC BY 4.0
Under this license, readers are free to:
- Share — copy and redistribute the material in any medium or format
- Adapt — remix, transform, and build upon the material for any purpose, including commercial use
- No additional restrictions — the licensor cannot revoke these freedoms as long as license terms are followed
3. Attribution Requirements
All uses must include:
- Proper citation of the original work
- Link to the Creative Commons license
- Indication if changes were made to the original work
- No suggestion that the licensor endorses the user or their use
4. Additional Distribution Rights
Authors may:
- Deposit the published version in institutional repositories
- Share through academic social networks
- Include in books, monographs, or other publications
- Post on personal or institutional websites
Requirement: All additional distributions must maintain the CC BY 4.0 license and proper attribution.
5. Self-Archiving and Pre-Print Sharing
Authors are encouraged to:
- Share pre-prints and post-prints online
- Deposit in subject-specific repositories (e.g., arXiv, bioRxiv)
- Engage in scholarly communication throughout the publication process
6. Open Access Commitment
This journal provides immediate open access to all content, supporting the global exchange of knowledge without financial, legal, or technical barriers.