Widjaja, Irena Santi and Bustaman, Yosman and Siahaan, Antonius TP. (2017) The Impact Of Financial Performance To Total Shareholder Return In PT TELKOM INDONESIA (PERSERO) TBK. Masters thesis, Swiss German University.

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Abstract

The main purpose of this thesis is to study and to analyze the impact of financial performance to Total Shareholder Return (TSR) in PT Telkom Indonesia (Persero) Tbk (Telkom) by using shareholder value approach which concentrates on measuring financial returns to shareholders. Telkom's financial performance currently is measured based on accounting review (Revenue Growth, EBITDA Growth, and Net Income Growth) not yet based on value based financial performance (Economic Profit, Market Value Added and Created Shareholder Value). Based on multiple regression linear test there is no impact of accounting based measures of financial performance rather than value based measured of financial performance to TSR, it is recommended that Telkom must start to concern with value based measures of financial performance to influence TSR. The author realize there is agency problem that Government as Telkom's majority shareholder control the firm and Telkom's management must balance Government's interest and other shareholder's interest.

Item Type:	Thesis (Masters)
Uncontrolled Keywords:	Shareholder Value Approach; Total Shareholder Return; Growth; Financial Performance; Agency Problem
Subjects:	H Social Sciences > HG Finance > HG4001-4285 Finance management. Business finance.
Divisions:	Faculty of Business Administration and Communication > Department of Business Administration
Depositing User:	Astuti Kusumaningrum
Date Deposited:	13 May 2020 13:42
Last Modified:	13 May 2020 13:42
URI:	http://repository.sgu.ac.id/id/eprint/302

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