Determinants of Maritime Companies’ Financial Performance in Contributing to the Indonesia Maritime Human Resource Development

Agus Budi Hartono; Powell  Gian Hartono; Georgina  Maria Tinungki

doi:10.48192/prc.v1i4.329

Agus Budi Hartono AMI Maritime Polytechnic, Makassar
Powell Gian Hartono Trisakti University, Jakarta
Georgina Maria Tinungki Hasanuddin University

DOI: https://doi.org/10.48192/prc.v1i4.329

Keywords: Maritime Company Performance, Company Size, Company Growth, Capital Structure, Maritime Company, Company Age

Abstract

This study examined factors that are assumed to influence the profitability of maritime companies as determinants of company performance in relation to the development of marine human resource development as stipulated in PP 47 of 2012 and PP 51 of 2012. Hypothesis testing was carried out to test the direction and significance of influence of formulated hypotheses The results showed that company age positively affect the profitability of maritime companies. Other factors that had been assumed to affect company profitability turned out to show no significant influences including company size, company growth, and capital structure. Maritime companies are recommended to take into account the managerial implications of this study, while the government is expected consider company size in formulating any regulation regarding PP 51 of 2012.