Literatur Review: Nilai Perusahaan pada Badan Usaha Milik Negara

Abstract

ABSTRACT

Purpose — The purpose of this article is to identify the factors that influence the value of State-Owned Enterprises (BUMN) and to seek solutions for enhancing that value.

Design/Methodology/approach — This study employs a Systematic Literature Review method, analyzing journals published from 2020 to 2024.

Findings — The results of this literature review indicate that the causes of the low value of BUMN include a lack of attention to intellectual capital components, excessive debt levels, weak implementation of Good Corporate Governance (GCG), deviations by BUMN directors, and other exposure risks. To address these issues, BUMN must create competitive advantages and optimally utilize their resources.

Practical Implications — BUMN should focus on the efficient and effective management of human, physical, and structural resources to enhance profitability. Additionally, specific GCG practice guidelines need to be developed, along with implementing debt policies and risk management strategies to mitigate the impact of currency fluctuations on debt.

Originality/Value — This research provides new insights into the challenges faced by BUMN in Indonesia and offers practical solutions that can be applied to improve corporate value amid a dynamic business environment.

Keywords — Systematic literature review, value of BUMN companies.

Article Type — Systematic literature review.