Analysis of Company Value on Companies That Implement Enterprise Resource Planning (ERP) System (Evidence from Manufacturing Companies Listed on the Indonesia Stock Exchange)

Fendra Fendra

Abstract


This research aims to obtain differences in company value both pre-implementation & post-implementation of ERP system on period of 2009-2013 in manufacturing companies on the IDX. This conducted with One Group Pretest-Posttest Design, using secondary data. Based on purposive sampling criteria, consisted 16 companies. The method used is non-parametric, that is Wilcoxon Signed Ranks Test by SPSS 24 program. The result shows there is no significant increase by Tobin’s Q on post-implementation period. However, when divided into Industry Sector, there is no significant increase on Basic Industry & Chemicals and Miscellaneous Industry, and there is significant increase on Consumer Goods Industry. In brief, ERP system implementation have not able to improve the company value on post-implementation period within the fourth year to the sixth year.

Keywords: Enterprise Resource Planning, System Implementation, Company Value, Tobin’s Q.


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