scholarly journals Ranking of firms by performance using I-distance method

2018 ◽  
Vol 15 (4) ◽  
pp. 85-97
Author(s):  
Nurdan Değirmenci ◽  
Tuba Yakici Ayan
Keyword(s):  
Financial Performance ◽  
Alternative Methods ◽  
Financial Leverage ◽  
Mining Sector ◽  
Distance Method ◽  
Industrial Firms ◽  
Effective Factors ◽  
Profitability Ratios ◽  
Better Than

The objective of this article is to rank firms by their financial performance using statistical I-distance method, which has the ability to determine both ranking and important factors. For this purpose, the method was first applied to 110 Turkish industrial firms without any sectorial separation and then to 7 different sectors, and various findings about firms, sectors and variables were obtained. The I-distance method is used to get rid of the high correlation between variables during the analysis. The reason for choosing the I-distance method is that it allows you to sort the variables by importance and eliminate insignificant variables, as well as take into account correlations between variables. The authors believe that the method is superior to other alternative methods thanks to these qualities. Through a number of analyses, it was possible to see positions of firms both within the whole sample and their own sectors. Furthermore, this method provided valuable information on which factors were important in assessing firms’ financial performance. It has been observed in the analyses that the most effective factors in ranking firms and separating them from each other were profitability ratios, and the fact that liquidity and financial leverage ratios are not effective at all. When examined from a sectoral perspective, the nonmetal mining sector and the chemical, petroleum and plastic sectors seem to be better than other sectors in the performance rankings.

scholarly journals PENGARUH STRUKTUR MODAL TERHADAP KINERJA KEUANGAN PERUSAHAAN : STUDI KASUS PADA PERUSAHAAN SEKTOR PERTAMBANGAN YANG TERCATAT DI BURSA EFEK INDONESIA, 2005-2011

2015 ◽  
Vol 16 (1) ◽  
pp. 26
Author(s):  
Ansoriyah Fadilah
Keyword(s):  
Regression Analysis ◽  
Panel Data ◽  
Capital Structure ◽  
Financial Performance ◽  
Stock Exchange ◽  
Descriptive Analysis ◽  
Annual Data ◽  
Mining Sector ◽  
The Impact ◽  
Profitability Ratios

The purpose of this study was to analyze the impact of capital structure on financial performance of mining sector companies listed in the Indonesia Stock Exchange (BEI). This study employed the descriptive analysis and a regression analysis of panel data. This study covered annual data of 30 mining sector companies listed in the BEI in a 7-year time horizon (20052011). The descriptive analysis showed that most of companies applied a low-leverage policy in their capital structure. In average, the companies generate a good financial performance, in terms of profitability ratios and market based ratios. The regression analysis of panel data showed that capital structure has a significant impact on the company's fnancial performance based on ROA, ROE, and PER, but have insignificant effect on the company's financial performance based on market-to-book value ratio.

Pengaruh Financial Leverage terhadap Financial Performance pada Sektor Industri Manufaktur yang Terdaftar di Bursa Efek Indonesia (BEI) Periode 2015

2018 ◽  
Vol 9 (2) ◽  
pp. 33-48
Author(s):  
Rivaldy Februansyah ◽  
Ika Yanuarti
Keyword(s):  
Financial Performance ◽  
Manufacturing Sector ◽  
Linear Regression Analysis ◽  
The Other ◽  
Debt Ratio ◽  
Financial Leverage ◽  
Coverage Ratio ◽  
Equity Ratio ◽  
Internal Fund

The manufacturing sector is one of the most dominant economic sectors in in achieving growth and development in Indonesia. It needs adequate fund to develop its business. The sources of fund are from internal and external. The firm usually optimized the usage of internal fund prior to external fund. The internal fund comes from equity while the external funds are from debt and stock. Debt is also known as financial leverage. There is a phenomenon that the usage of debt increased the firm’s financial performance, since interest on debt could lower the payment of tax (tax shield). On the other side, the higher the financial leverage the higher the risk of bankruptcy. This research aims to analyze whether financial leverage has an influence on financial performance in the manufacturing sector listed on the Indonesia Stock Exchange (IDX) period 2015. The method of analysis used in this research is multiple linear regression analysis. This research uses quantitative approach with a sample of 140 listed companies in the manufacturing industry. The firm’s financial performance could be measured by the financial ratios. Financial Leverage ratios are ratios that measure the ability of firm’s to meet its financial obligation and the level of usage debt as compared to equity. There are several financial leverage ratios that used in this research, such as Debt Ratio (DR), Debt to Equity Ratio (DER), Interest Coverage Ratio (ICR), and Long Term Debt Ratio (LTDR). Financial performance indicates the ability of firm to generate profit and measured by Profitability Ratio. Return on Asset (ROA) is one of the Profitability Ratio. The statistical result shows that Debt Ratio (DR) negatively affect Return on Asset (ROA) and Interest Coverage Ratio (ICR) positively affect Return on Asset (ROA). Meanwhile, Debt to Equity Ratio (DER) and Long Term Debt Ratio (LTDR) did not affect Return on Asset (ROA). On the other hand, result shows that Debt Ratio (DR), Debt to Equity Ratio (DER), Interest Coverage Ratio (ICR), and Long Term Debt Ratio (LTDR) affect Return on Asset (ROA) simultaneously. Keywords: Financial Leverage, Debt Ratio (DR), Debt to Equity Ratio (DER), Interest Coverage Ratio (ICR), Long Term Debt Ratio (LTDR), Financial Performance, Return on Assets (ROA)

scholarly journals Velody 2—Resilient High-Capacity MIDI Steganography for Organ and Harpsichord Music

2020 ◽  
Vol 11 (1) ◽  
pp. 39
Author(s):  
Eric Järpe ◽  
Mattias Weckstén
Keyword(s):  
Mean Absolute Error ◽  
Signal To Noise Ratio ◽  
High Capacity ◽  
Absolute Error ◽  
Music Technology ◽  
Alternative Methods ◽  
File Size ◽  
User Friendly ◽  
Different Levels ◽  
Better Than

A new method for musical steganography for the MIDI format is presented. The MIDI standard is a user-friendly music technology protocol that is frequently deployed by composers of different levels of ambition. There is to the author’s knowledge no fully implemented and rigorously specified, publicly available method for MIDI steganography. The goal of this study, however, is to investigate how a novel MIDI steganography algorithm can be implemented by manipulation of the velocity attribute subject to restrictions of capacity and security. Many of today’s MIDI steganography methods—less rigorously described in the literature—fail to be resilient to steganalysis. Traces (such as artefacts in the MIDI code which would not occur by the mere generation of MIDI music: MIDI file size inflation, radical changes in mean absolute error or peak signal-to-noise ratio of certain kinds of MIDI events or even audible effects in the stego MIDI file) that could catch the eye of a scrutinizing steganalyst are side-effects of many current methods described in the literature. This steganalysis resilience is an imperative property of the steganography method. However, by restricting the carrier MIDI files to classical organ and harpsichord pieces, the problem of velocities following the mood of the music can be avoided. The proposed method, called Velody 2, is found to be on par with or better than the cutting edge alternative methods regarding capacity and inflation while still possessing a better resilience against steganalysis. An audibility test was conducted to check that there are no signs of audible traces in the stego MIDI files.

Global financial crisis, ownership structure and firm financial performance

2017 ◽  
Vol 34 (4) ◽  
pp. 447-465 ◽  
Author(s):  
Ali Salman Saleh ◽  
Enver Halili ◽  
Rami Zeitun ◽  
Ruhul Salim
Keyword(s):  
Financial Crisis ◽  
Financial Performance ◽  
Ownership Structure ◽  
Family Firms ◽  
Global Financial Crisis ◽  
Ownership Concentration ◽  
Financial Leverage ◽  
Content Type ◽  
Crisis Period ◽  
The Global Financial Crisis

Purpose This paper aims to investigate the financial performance of listed firms on the Australian Securities Exchange (ASX) over two sample periods (1998-2007 and 2008-2010) before and during the global financial crisis periods. Design/methodology/approach The generalized method of moments (GMM) has been used to examine the relationship between family ownership and a firm’s performance during the financial crisis period, reflecting on the higher risk exposure associated with capital markets. Findings Applying firm-based measures of financial performance (ROA and ROE), the empirical results show that family firms with ownership concentration performed better than nonfamily firms with dispersed ownership structures. The results also show that ownership concentration has a positive and significant impact on family- and nonfamily-owned firms during the crisis period. In addition, financial leverage had a positive and significant effect on the performance of Australian family-owned firms during both periods. However, if the impact of the crisis by sector is taking into account, the financial leverage only becomes significant for the nonmining family firms during the pre-crisis period. The results also reveal that family businesses are risk-averse business organizations. These findings are consistent with the underlying economic theories. Originality/value This paper contributes to the debate whether the ownership structure affects firms’ financial performance such as ROE and ROA during the global financial crisis by investigating family and nonfamily firms listed on the Australian capital market. It also identifies several influential drivers of financial performance in both normal and crisis periods. Given the paucity of studies in the area of family business, the empirical results of this research provide useful information for researchers, practitioners and investors, who are operating in capital markets for family and nonfamily businesses.

scholarly journals ANALISIS KINERJA KEUANGAN PADA PT. HANJAYA MANDALA SAMPOERNA Tbk.

2017 ◽  
Vol 12 (2) ◽  
Author(s):  
Rona Rosy Nimiangge ◽  
Harijanto Sabijono ◽  
Hendrik Gamaliel
Keyword(s):  
Financial Performance ◽  
Activity Ratio ◽  
Financial Analysis ◽  
Information Source ◽  
Profit Margin ◽  
Financial Statement ◽  
Operating Profit ◽  
Net Profit ◽  
Turn Over ◽  
Profitability Ratios

Development in technology that happen continuously have made the skills in financial analysis are more needed. Financial statement are the information source for financial position and company financial ferformance analysis.Evaluation of company financial performance in this research  using activity ratio and profitability ratio. This research using PT. Hanjaya Mandala Sampoerna Tbk as objek, this decision are based as 1 of 4 big company in cigarettes industry in Indonesia. The summary problem  in this research is,” How the financial performanceat PT. Hanjaya Mandala Sampoerna Tbk. Based on activity ratio and profitability ratio for year 2015 and 2016?” The activity ratios are calculated with account receivable Turn Over,Inventory Turn Over, Total Asset Turn over,Otherwise Profitability Ratio are calculated with Gross profit  Margin, Operating Profit Margin, and Net Profit Margin. The results showed that the ratios of poor activity were seen from the decline in value in the period 2015-2016, while the profitability ratios increased in the period 2015- 2016 which indicates the company's ability to generate profits has increased.Keywords : Financial Performance Analysis, Activity, Profitability

scholarly journals Sustainability Reporting as Mediation of Factors Affecting Financial Performance: Case in the Mining Sector in Indonesia

2020 ◽  
pp. 30-37
Author(s):  
Septiana Jumita ◽  
◽  
Taufiq Taufiq ◽  
Yusnaini Yusnaini ◽  
◽  
...  
Keyword(s):  
Financial Performance ◽  
Environmental Sustainability ◽  
Stock Exchange ◽  
Social Performance ◽  
Sustainability Reporting ◽  
Mining Sector ◽  
Report Generation ◽  
Factors Affecting ◽  
Management Personnel ◽  
Study Results

The problem of global warming due to environmental pollution has made it necessary for companies to be widely accountable to society about their performance. Therefore, today companies must not only report on the financial performance, but also report on all non-financial aspects of their activities, such as social and environmental. Sustainability reporting enables companies to report on environmental and social performance. It is not just report generation from collected data; instead it is a method to internalize and improve an company’s commitment to sustainable development in a way that can be demonstrated to both internal and external stakeholders. The study examines the factors influencing the company's financial performance through sustainability reporting in mining sector companies in Indonesia. The object of the study is a sample of 6 mining companies listed on the Indonesia Stock Exchange in 2014-2018. In this study, the authors use the Path Analysis – a form of multiple regression statistical analysis that is used to evaluate causal models by examining the relationships between a dependent variable and two or more independent variables. The study results show that sustainability reporting has a positive and significant impact on the financial performance of mining companies.In particular, the results of the analysis show that the company size and its liquidity have a positive and significant effect on the sustainability reporting. Leverage has a negative and significant effect on sustainability reporting. At the same time, the factors disclosed in the sustainability reporting have a significant impact on the financial performance of the companies. The results of this study can be useful for management personnel in the process of preparing a sustainability report by companies that want to attract the attention of investors.

scholarly journals ANALISIS KINERJA KEUANGAN PERBANKAN SYARIAH INDONESIA PADA MASA PANDEMI COVID-19

2021 ◽  
Vol 1 (1) ◽  
pp. 111-125
Author(s):  
Sri Diana ◽  
Sulastiningsih Sulastiningsih ◽  
Endar Sulistya ◽  
Purwati Purwati
Keyword(s):  
Financial Performance ◽  
Quantitative Research ◽  
Banking Industry ◽  
Financial Sector ◽  
Bank Performance ◽  
Islamic Banking ◽  
Important Thing ◽  
Bank Solvency ◽  
Solvency Ratio ◽  
Profitability Ratios

Financial sector is an important thing for a country development. Indirectly, the financial sector will support the economy especially during the pandemic, including the Islamic banking industry. This study aims to analyze the financial performance of Islamic banking in Indonesia based on profitability ratios consisting of BOPO, ROA, ROE, liquidity ratios consisting of Cash ratio and FDR, as well as solvency ratios as measured by the CAR ratio, during the COVID-19 pandemic. This research is descriptive quantitative research by measuring the financial performance of the bank through the level of profitability ratios. The results of this study show that there is a fluctuation changing in the performance values during the COVID-19 pandemic. Bank performance through profitability ratios shows that some sharia banks are classified as efficient and some have decreased the performance. In the liquidity ratio, the average bank experienced a decline in the cash ratio component, with the lowest being at BRI Syariah, which fell by 50.9%. Bank solvency ratio generally shows good performance.

scholarly journals Product Line Diversification and Its Impact on Firm Performance

2021 ◽  
Vol 5 (3) ◽  
pp. 43-58
Author(s):  
Zia ur Rehman ◽  
Asad Khan ◽  
Rafique Ahmed Khuhro ◽  
Abdul Ghafoor Khan
Keyword(s):  
Firm Performance ◽  
Financial Performance ◽  
Product Line ◽  
Group Affiliation ◽  
Firm Profitability ◽  
Business Line ◽  
Diversified Firms ◽  
The Impact ◽  
Positive Effect ◽  
Better Than

The objective of the study is to measure product diversification’s impact on insurance firm’s financial performance in Pakistan. Analysis are carried out to examine how ownership structure, capitalization, group membership, firm size, diversification across business lines, industry concentration affects firm’s financial performance. Data from 2009-2019 is collected to measure the impact of diversification (entropy) on the risk- adjusted returns. Findings of the study reveal that business line diversification has strong positive effect on firm performance (for both ROA and ROE) which means that diversified firms perform better than non-diversified firms. For managers these findings are useful as they propose the need for diversification, capitalization, increase in size and group affiliation to enhance firm profitability.

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