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Sari, Yuni Purwita
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Measuring the Financial Performance of Village Owned Enterprises (VOEs) Sari, Yuni Purwita
JPAS (Journal of Public Administration Studies) Vol 4, No 1 (2019)
Publisher : FIA UB

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (234.058 KB) | DOI: 10.21776/ub.jpas.2019.004.01.3

Abstract

In order to accommodate village potentials and fulfillment of villagers’ needs, through Law No. 32 of 2004 concerning Local Government, the government provides great support so that the village has a business entity which is able to develop and drive the local economy. Law No. 32 0f 2004 states that the village can establish a village-owned enterprises (VOEs), village businesses formed / established by the village government whose capital ownership and management are carried out by the village government and the community, in accordance with the needs and potential of the village. In its development, VOEs were encouraged as economic institutions at the village level supported by the government in order to handle economic activities at the village level because their shares were dominated by the village government. In the framework of this achievement, the financial performance assessment is needed to give feedback for VOEs manager in making the right decision for VOEs development. This study aims to search a proper measurement that appropriate to measure the financial performance of Village Owned Enterprises (VOEs). The result of the study found that several financial ratios can be utilized to measure the financial performance of Village Owned Enterprises (VOEs). Those financial ratios can be classified into capital, asset, management, earning and liquidity assessment, which is known as CAMEL model:1) Ratio of Asset Development is used to measure the Capital Adequacy; 2) Ratio of Productive Asset Quality is used to measure the Asset Quality; 3)BoPo Ratio (Operational Cost of Operating Income) is used to measure the Management Efficiency; 4) Ratio on Asset (ROA) is used to measure the Earnings Quality; and 5)Loan to Deposit Ratio to measure the Liquidity.
Financial Performance of Village-Owned Enterprises (VOEs): Case in Blitar Regency, East Java, Indonesia Sari, Yuni Purwita; Putra, Fadilah; Sujarwoto, Sujarwoto
JPAS (Journal of Public Administration Studies) Vol 5, No 2 (2020)
Publisher : FIA UB

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/ub.jpas.2020.005.02.6

Abstract

Villages have many assets and potentials. Through Village-Owned Enterprises (VOEs), business entities owned by villages, the village assets, and potentials could be managed well for the greatest welfare of the village community. As public enterprises, VOEs are expected to play an important role in the mobilization of resources and they can do so if they are financially viable. Therefore, financial performance is a vital element for Village-Owned Enterprises (VOEs) sustainability. Using a multi-method design, this research aims to examine the growth of financial performance of VOEs in Blitar Regency from 2015 to 2019 and to explore factors that affect the financial performance of VOEs in Blitar Regency from 2015 to 2019. The results discovered that, in general, the financial performance of VOEs in Blitar Regency did not show any significant growth. Out of 85 observed VOEs, 74 of them did not go up from their previous level. However, there are VOEs whose financial performance is increase and decrease, which are five and six VOEs respectively. In addition, human resources, support from the Village Government, and VOE's ability to see business opportunities that exist in accordance with community needs and the potential of the village become the factors that affect the financial performance of Village-Owned Enterprises (VOEs). These factors should be considerations for policymaker and other stakeholders in setting appropriate programs or activities intended to enhance the development of VOEs, which will eventually, contributes to the village development.
Co-Authors Putra, Fadilah Sujarwoto Sujarwoto, Sujarwoto