scholarly journals The Effect of Leverage, Size, Liquidity, Operating Cash Flow on Fixed Asset Revaluation

2017 ◽  
Vol 7 (1) ◽  
pp. 31
Author(s):  
Dian Firmansyah ◽  
Nurmala Ahmar ◽  
JMV Mulyadi
Keyword(s):  
Cash Flow ◽  
Stock Exchange ◽  
Audit Fees ◽  
Fair Value ◽  
Cash Flows ◽  
Fixed Asset ◽  
Operating Cash Flows ◽  
Fixed Assets ◽  
Asean Countries ◽  
Tax Payments

This study tries to prove empirically the effect of leverage, size, liquidity and operating cash flows on the revaluation of fixed assets. It used a sample of all non-financial companies, which revalued assets in the periode of 2012-2015, at companies listed on Indonesia Stock Exchange with upward revaluation category. The analysis was done using Path analysis (PLS) without requiring classical assumption and normality test. The results show that leverage affects Asset revaluation, it proves that high leverage because the company to do revaluation of fixed assets, large companies tend to want to display earnings reports that are not too large to reduce their political costs, with asset revaluation, the value of depreciation is calculated Repeated and reduce the company's profit. Operating cash flows affect the revaluation of fixed assets on the grounds that the company requires funds to pay its obligations as well as in revaluation assets cost a great deal for the appraisal services, audit fees and final tax payments. Yet, liquidity has no effect on the revaluation of fixed assets, Within the last 4 years, the study found that users of the Asset revaluation model reporting in Other Comprehensive Income continue to grow and are expected to become financial statements that have superiority and good quality by reporting fair value. In the next research to add the number of variables on Asset revaluation, as well as expand the sample by involving the company revaluation and non revaluation. In addition, to examine the development of asset revaluation, especially in ASEAN countries related to the adoption of IFRS in the case of fixed asset revaluation.Keyword: Leverage, Size, Liquidity, Cash Flow from operation, and Revaluations Assets.

scholarly journals Outsider Estimation of the Fair Value of Bank Stocks: Computational and Conceptual Issues

2003 ◽  
Author(s):  
Mohamed Ariff ◽  
Lina Suranto
Keyword(s):  
Cash Flow ◽  
Poor Performance ◽  
Fair Value ◽  
Cash Flows ◽  
Free Cash Flow ◽  
Market Values ◽  
Operating Cash Flows ◽  
Operating Cash Flow ◽  
Better Than ◽  
Naive Model

This paper attempts to fill a void in the finance literature by reporting the reliability of theoretical valuation models against the market values of banking corporations. The dividend, operating cash flows and the free cash flow valuation approaches are operationalised to estimate fair values of banks. These values are then compared with market values. This results, using the Theil’s U-coefficient, show that the operating cash flow approach provides estimates that are better than the naïve model estimates. The other two approaches produced results no better than the naïve model. A probable reason for the poor performance of the free cash flow approach is suggested. Outsider’s estimation of investment values needed for free cash flow calculation is likely to introduce serious errors irrespective of the theoretical bases of models widely used in the industry.  

scholarly journals EFFECTS OF ASSET STRUCTURE, OPERATING CASH FLOW, AND PROFITABILITY ON DEBT POLICY IN PROPERTY AND REAL ESTATE COMPANIES ON THE INDONESIA STOCK EXCHANGE PERIOD 2013-2017

2018 ◽  
Vol 7 (01) ◽  
pp. 33
Author(s):  
Meilianta Br Peranginangin ◽  
Cathrin Mutiara Saragih ◽  
Hantono Hantono ◽  
Namira Ufrida Rahmi ◽  
Siti Tiffany Guci
Keyword(s):  
Linear Regression ◽  
Real Estate ◽  
Multiple Linear Regression ◽  
Cash Flow ◽  
Analytical Method ◽  
Stock Exchange ◽  
Cash Flows ◽  
Operating Cash Flows ◽  
Operating Cash Flow ◽  
Debt Policy

This study aims to determine the effect of asset structure, operating cash flow, and profitability on debt policy in property and real estate companies in the Indonesia Stock Exchange in 2013-2017. The analytical method used is multiple linear regression, F test and t test. The results of the analysis of this study indicate that the structure of assets, operating cash flows, and profitability have a simultaneous effect on debt policy. Meanwhile the analysis partially shows that the asset structure, operating cash flows, and profitability do not partially affect debt policy.

scholarly journals PENGARUH ECONOMIC VALUE ADDED, MARKET VALUE ADDED, RESIDUAL INCOME, EARNINGS DAN ARUS KAS OPERASI TERHADAP RETURN SAHAM (Studi Empiris pada perusahaan LQ-45)

Media Ekonomi ◽  
2016 ◽  
Vol 16 (1) ◽  
pp. 176
Author(s):  
Hari Cahyadi ◽  
Akhmad Darmawan
Keyword(s):  
Stock Returns ◽  
Cash Flow ◽  
Stock Exchange ◽  
Economic Value ◽  
Value Added ◽  
Cash Flows ◽  
Residual Income ◽  
Operating Cash Flows ◽  
Operating Cash Flow ◽  
Market Value Added

This study to get empirical evidence that the EVA, MVA, Residual income, Earnings and operating cash flow affect the return earned by shareholders, either partially or simultaneously. The sampling method used was purposive sampling, with the criteria of the company that is always inclouded in the LQ-45 index listed in the Indonesia Stock Exchange (BEI) during the observation period of 2011-2014. Companies used in the sample have a positifve data. The analytical method used was multiple linear regression test. The result of this study concluded that the MVA, residual income and operating cash flows simultaneously affected the return earned by shareholders. MVA partially had no effect on returns received by shareholders. Residual income partially had an effect on returns received by shareholders. Operating cash flow partially had an influence on return received by shareholders. The second and the fifth hypothesis in this study could not be tested because EVA variables and earnings experienced multi co linearity, thus it was excluded from the study. Keywords : EVA, MVA, Residual income, Earnings, operating cash flows and stock returns

scholarly journals Effect Of Net Income And Operating Cash Flow On Cash Dividends

2019 ◽  
Vol 3 (2) ◽  
pp. 145-158
Author(s):  
Sherly Rinjani ◽  
Uswatun Hasanah
Keyword(s):  
Cash Flow ◽  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Sampling Technique ◽  
Multiple Linear Regression Analysis ◽  
Cash Flows ◽  
Net Income ◽  
Financial Condition ◽  
Operating Cash Flows ◽  
Operating Cash Flow

In invested, investors are more interested to shared profits at the form of cash dividends. The factor that can determine the amount of cash dividends that companies shared to investors are financial condition of the company which consists of net income and operating cash flow. The objective of this research is to determine the influence of net income and operating cash flows on cash dividends. The population of this research was pharmaceutical sub-sector manufacturing company on the Indonesia Stock Exchange (IDX) 2013-2018 Period. The sampling technique used in this research is purposive sampling method, and five companies have conform of that criteria sampling. This research used multiple linear regression analysis with IBM SPSS 23 software.The result of this research showed that (1) net income has influence on cash dividends (2) operating cash flow has influence on cash dividends.

scholarly journals RELEVANSI NILAI REVALUASI ASET TETAP DENGAN TINGKAT UTANG SEBAGAI VARIABEL MODERASI

2018 ◽  
Vol 14 (1) ◽  
pp. 1
Author(s):  
Fransisca Ayudya Aryani ◽  
Agung Juliarto
Keyword(s):  
Value Relevance ◽  
Stock Exchange ◽  
Fair Value ◽  
Future Prospects ◽  
Fixed Asset ◽  
Debt Contracting ◽  
Financial Condition ◽  
A Value ◽  
Fixed Assets ◽  
Debt Levels

This study aims to analyze the value relevance of fixed asset revaluation and whether debt levels moderate value relevance of fixed asset revaluation. Signaling theory states that the company revalues its assets with the aim to provide credible signals about favorable future prospects; whereas debt contracting theory suggests that firms with high debt levels have opportunistic motives in doing the revaluation of fixed. This study uses 54 data of nonfinancial companies listed on the Indonesian Stock Exchange and have revalued its fixed assets in the period 2012-2015. The results shows that the revaluation of fixed asset has a value relevance, and leverage moderates this value relevance. Companies are trying to show the fair value of assets and an overview of the actual company's financial condition by revaluing their assets. However, when the company revalued its assets and has a fairly high leverage, investor respons negatively on revaluation conducted. Investors perceive that it is an opportunistic motives of managers to avoid the costs arising from the loan agreement.

scholarly journals ANALISIS PENGARUH ARUS KAS OPERASI DAN LABA AKUNTANSI TERHADAP RETURN SAHAM PERUSAHAAN PERAIH INVESTMENT AWARD (BEST ISSUERS) DI BURSA EFEK INDONESIA

2018 ◽  
Vol 7 (2) ◽  
pp. 29-44
Author(s):  
Ika Neni Kristanti
Keyword(s):  
Stock Returns ◽  
Cash Flow ◽  
Stock Return ◽  
Stock Exchange ◽  
Secondary Data ◽  
Financial Statements ◽  
Cash Flows ◽  
Company Performance ◽  
Operating Cash Flows ◽  
Operating Cash Flow

Investors in investing always expect high stock returns. Therefore, investors should be able to assess which companies have good performance, so the stock return is also high. The financial statements, particularly those relating to information on changes in operating cash flows and corporate accounting profit, are one of the important information that can be used by investors to assess company performance. This study aims to provide empirical evidence related to the effect of operating cash flow and accounting earnings on stock returns. The data in this study is secondary data obtained from the company's annual financial statements in Indonesia Capital Market Directory (ICMD) and Indonesia Stock Exchange (IDX). This study was conducted using the company population of the company winning the investment award (best issues) 2017 listed on the Indonesia Stock Exchange in 2015 and 2016. The result of this research is partially variable of operating cash flow (AKO) have positive and significant effect to stock return, while partially, variable of accountancy profit (LAK) have no effect to stock return and simultaneously variable operating cash flow (AKO) and change of accountancy profit (LAK) jointly have a significant effect on stock returns in the company's winning investment award (best issues) 2017 listed on the Indonesia Stock Exchange in 2015 and 2016. Keywords: Operating Cash Flow, Accounting Profit, and Stock Return

scholarly journals Implications of Cash Flows and Investment Opportunity for Investment Decisions in Fixed Assets on Financially Constrained Companies

2020 ◽  
Vol 8 (1) ◽  
pp. 69-75
Author(s):  
Citra Veronisa
Keyword(s):  
Cash Flow ◽  
Financial Constraints ◽  
Stock Exchange ◽  
Investment Decisions ◽  
Cash Flows ◽  
Investment Opportunity ◽  
Fixed Assets ◽  
Investment Opportunities ◽  
Conceptual Paper ◽  
Intervening Variables

This research is a conceptual paper that aims to determine the effect of cash flow and investment opportunity for investment decisions in fixed assets on financially constrained companies. This type of research is explanatory research with companies in the property and real estate sectors listed on the Indonesia Stock Exchange in 2016-2018 as a population.This research will be conducted to predict how much the level of investment decisions is influenced by cash flow and investment opportunities with financial constraints as intervening variables. Based on previous research, shows differences in research results, so the authors aim to see the results of research on companies in Indonesia with different conditions and measurement variables.

scholarly journals Pengaruh Leverage, Arus kas Operasi, Ukuran Perusahaan dan Fixed Asset Intensity terhadap Keputusan Revaluasi Aset tetap (Studi Empiris pada Bank Umum yang Terdaftar di BEI Periode 2012 s.d. 2016)

2018 ◽  
Vol 5 (2) ◽  
pp. 129-142
Author(s):  
Sudrajat Sudradjat ◽  
Nurmala Ahmar ◽  
JMV Mulyadi
Keyword(s):  
Commercial Bank ◽  
Cash Flow ◽  
Financial Reporting ◽  
Firm Size ◽  
Commercial Banks ◽  
Financial Statements ◽  
Fair Value ◽  
Fixed Asset ◽  
Fixed Assets ◽  
Operating Cash Flow

Implementation of financial statement preparation for public companies in Indonesia has shifted from Generally Accepted Accounting Principles (GAAP) to the International Financial Reporting Standards (IFRS) starting in 2012. GAAP practices emphasize to users to find the best terms for a transaction, while IFRS emphasizes principles of fair value in the presentation of financial statements. The Financial Position Report which has adopted IFRS requires that the fixed assets be presented at fair value, so that the financial statements presented to external parties reflect the current value of fixed assets owned by the company. This study aims to investigate the effect of leverage, operating cash flow, firm size and fixed asset intensity to the decision of commercial banks to conduct a revaluation. Commercial Bank that became the object of research is a commercial bank listed on the BEI with observation period starting in 2012 - 2016. Independent variable are leverage, operating cash flow, firm size and fixed asset intensity. Testing on the research model using Hosmer & Lemeshow Test, Omnibus, Nagelker R Square. While testing the hypothesis using Logistic Regression Test. The results of the analysis in hypotesis testing showed that leverage, firm size and fixed asset intensity significantly influence the decision of commercial banks to conduct a revaluation. While operating cash flow has no effect on the decision of commercial banks to conduct a revaluation.

scholarly journals Does the Company's Scale, Fixed Asset Intensity and Operating Cash Flow Affect Asset Revaluation?

2020 ◽  
Vol 18 (1) ◽  
pp. 1-13
Author(s):  
Rr. Tjahjaning Poerwati ◽  
Pancawati Hardiningsih ◽  
Caecilia Srimindarti ◽  
Retno Ika Sundari
Keyword(s):  
Cash Flow ◽  
Large Scale ◽  
Stock Exchange ◽  
Time Frame ◽  
Manufacturing Companies ◽  
Fixed Asset ◽  
Real Situation ◽  
Fixed Assets ◽  
Operating Cash Flow ◽  
Practical Implications

Fixed assets that are measured using cost may have lost their relevance because they do not reflect the real situation. This study aims to analyze the factors that influence the company to revaluate its fixed assets. The sample of this study consisted of 426 manufacturing companies listed on the Indonesia Stock Exchange in the 2015-2018 time frame. The research sample was selected by purposive sampling. Technical analysis of the study used logistic regression. The results of this study found that only fixed asset intensity and operating cash flow affect the revaluation of fixed assets and the scale of the company does not affect the decision of the revaluation of fixed assets. The implication of the results of the study shows that large-scale companies do not always revaluate fixed assets because they can cause taxes on revaluations that must be borne by the company. In addition, the practical implications also show that the Indonesian government must increase the number of licensed appraisers to compensate for the increasing number of companies adopting revaluation models.

scholarly journals The Effect of Firm Size on Predictability Future Cash Flows Using Earnings and Operating Cash Flows

2017 ◽  
Vol 9 (1) ◽  
pp. 90
Author(s):  
Nasrollah Takhtaei ◽  
Hassan Karimi
Keyword(s):  
Cash Flow ◽  
Firm Size ◽  
Small Firms ◽  
Stock Exchange ◽  
Cash Flows ◽  
Working Capital ◽  
Operating Cash Flows ◽  
Relative Ability ◽  
Operating Cash Flow ◽  
Future Cash Flows

The aim of this research is to investigate earnings relative ability, operating cash flow, and two traditional criteria of cash flow, that is, net earnings plus depreciation and operating working capital in predicting operating future cash flows. Further, the effect of firm size on the ability to predict these criteria is investigated in this research. The sample firms contain listed companies in Tehran Stock Exchange (TSE) over the period 2005-2009. The results show that net earnings relative to operating cash flows and its traditional criteria have greater ability to predict future cash flows in small firms whereas operating cash flows compared with other criteria are better predictors in big firms. Results indicate thatthe predictability of all models increases considerably when firm size increases.  

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