PREDIKSI KONDISI FINANCIAL DISTRESS PADA PERUSAHAAN MANUFAKTUR PERUSAHAAN DI BURSA EFEK INDONESIA

2020 ◽  
Vol 3 (1) ◽  
pp. 1-10
Author(s):  
Surya Gandi ◽  
Damayanti Damayanti ◽  
Supriyanto Supriyanto
Keyword(s):  
Financial Distress ◽  
Stock Exchange ◽  
Wald Test ◽  
Total Asset ◽  
Net Income ◽  
Manufacturing Companies ◽  
Case Scenario ◽  
Worst Case ◽  
Current Asset ◽  
Asset Turnover

Being aware the signal of financial distress conditions is important because in the worst case scenario the company can be forced in to liquidation. This condition can be predicted using model that have been developed by many researchers. The purpose of this research is analyze and describe the effects of current asset to current liability, debt to total asset, total asset turnover, and  net income to equity in predicting the condition of financial distress in manufacturing companies listed in Indonesian Stock Exchange  in year 2012-2017. The data analiysis method is logit regression. The resecarch sample used purposive sampling tecnique. The result of wald test (partial) showed that current asset to current liability, debt to total asset and  total asset turnover that have significant effects to predict the condition of  financial distress in company, whilst net income to equity not significant to predict the condition of financial distress in the company. The result of G2/likehood showed that current asset liability, debt to total asset, total asset turnover and  net income to equity  simultaneously have significant influence to predict the condition of financial distress in company. Value of Mc fadden R-squared (R2) showed the relation among the variabels is in a very strong category.

scholarly journals Analisis Pengaruh Current Ratio, DER, TATO dan EBITDA Terhadap Kondisi Financial Distress Pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia

2019 ◽  
Vol 14 (1) ◽  
pp. 111-125
Author(s):  
Amanda Oktariyani
Keyword(s):  
Regression Analysis ◽  
Financial Distress ◽  
Stock Exchange ◽  
Total Asset ◽  
Manufacturing Companies ◽  
Analysis Method ◽  
Current Ratio ◽  
Asset Turnover ◽  
Equity Ratio ◽  
Tax Depreciation

This study aims to determine whether the financial ratios that proxied by Current Ratio, Debt to Equity Ratio, Total Asset Turnover, and Earning Before Interest, tax, Depreciation, and Amortization  affect to Financial distress in manufacturing companies listed on the IDX from  2013  to  2017. The  samples  consist  of  46  manufacturing  companies. The data  analysis  method used is logistic regression analysis. The results showed that Total Asset Turnover and Earning  Before Interest, Tax, Depreciation and Amortization influence partially to Financial Distress. Whereas, Current Ratio and Debt to Equity Ratio has not influence partially to Financial distress. The results showed that Current Ratio (CR), Debt to Equity Ratio (DER), Total Asset Turnover (TATO) and Earning Before Interest, Tax, Depreciation and Amortization (EBITDA) influence simultaneously to Financial Distress on manufacturing companies listed on Indonesia Stock Exchange (IDX) 2013-2017.

Pengaruh Rasio Hutang terhadap Ekuitas, Rasio Saat Ini, Rasio Cepat, Peralihan Aset dan Pengembalian Aset terhadap Pertumbuhan Laba pada Perusahaan Manufaktur Sektor Industri Dasar Kimia

2021 ◽  
Vol 1 (1) ◽  
pp. 27-37
Author(s):  
Mayang Puspitasari ◽  
◽  
Muhammad Nuur Farid Thoha ◽  
Keyword(s):  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Selection Criterion ◽  
Sampling Technique ◽  
Total Asset ◽  
Manufacturing Companies ◽  
Current Ratio ◽  
Asset Turnover ◽  
The Impact ◽  
Profit Growth

Abstract Purpose: This study aimed to ascertain the impact of debt-to-equity ratio, current ratio, quick ratio, total asset turnover, and return on assets on profit growth in basic industrial and chemical manufacturing companies listed on the Indonesian Stock Exchange from 2013 to 2017. Research Methodology: The population of this study consists of 69 firms, 52 of which passed the sample selection criterion using a purposive sampling technique. The data sources for this study are the financial statements of the companies sampled via www.idx.co.id. This study employs multiple linear regression analysis and is conducted using the SPSS software version 20. (Statistical Product and Service Solutions). Results: The results of this study indicate that ROA has an impact on profit growth, while the current ratio, quick ratio, total asset turnover, and debt to equity ratios do not.

scholarly journals FAKTOR-FAKTOR YANG BERPENGARUH TERHADAP PERUBAHAN LABA

2021 ◽  
Vol 13 (1) ◽  
pp. 109-124
Author(s):  
Chermian Eforis ◽  
Setyani Metta Lijaya
Keyword(s):  
Performance Indicator ◽  
Stock Exchange ◽  
Sample Selection ◽  
Financial Statement ◽  
Total Asset ◽  
Manufacturing Companies ◽  
Current Ratio ◽  
Fixed Assets ◽  
Asset Turnover ◽  
Good Signal

Abstract— Profit is one of company’s performance indicator and it will give good signal to investor when it increases. Based on previous studies, there are some financial ratios that have effects toward change in profit such as current ratio, return on asset (ROA), total asset turnover (TATO), and debt to asset ratio (DTA). This research aims to find the effect of current ratio, ROA, TATO and DTA towards change in profit. Manufacturing companies in the consumer goods industry which is listed on the Indonesia Stock Exchange (BEI) from 2016-2019 is the object of this research and purposive sampling as a sampling method. There are several criterias for sample selection such as published an audited financial statement for 4 years consecutive in 2016-2019; using Rupiah as a currency report in Financial statement; and has profit for 4 years consecutive in 2016-2019. There are 27 companies that meet all the criterias. The result of this research were (1) current ratio and debt to total asset had no significant effect towards changes in profit, (2) return on asset had a positive significant effect towards changes in profit, (3) total asset turnover had a negative significant effect towards changes in profit. Current ratio has no significant effect due to gain of intangible assets, gain of unrealized foreign exchange and financial income. The reason for debt to total asset is because the increase of liability is in line with the increase of asset, especially fixed assets. When fixed assets expand, total sales have increase along with profit change   Keywords: Changes in Profit; Current Ratio; Debt to Asset Ratio; Return on Asset; Total Asset Turnover

scholarly journals PREDIKSI KONDISI KEUANGAN PADA PERUSAHAAN SEKTOR PERTAMBANGAN DI BURSA EFEK INDONESIA

2018 ◽  
Vol 7 (11) ◽  
pp. 6100
Author(s):  
Ni Kadek Tina Rasminiati ◽  
Luh Gede Sri Artini
Keyword(s):  
Cash Flow ◽  
Financial Distress ◽  
Total Asset ◽  
Total Debt ◽  
Current Asset ◽  
Asset Turnover

Kondisi keuangan merupakan suatu keadaan yang menunjukkan tingkat kesehatan perusahaan yang sesungguhnya. Kondisi keuangan diukur dengan melihat perusahaan yang mengalami financial distress dan perusahaan yang tidak mengalami financial distress. Tujuan penelitian adalah mengetahui pengaruh dari rasio keuangan seperti current asset turnover, total asset turnover, days sales in receivables, cash flow to total debt, dan  debt to asset terhadap  financial distress. Penelitian dilakukan pada perusahaan sektor pertambangan di BEI periode 2012-2016. Jumlah sampel penelitian yaitu sebanyak 8 perusahaan dalam kategori mengalami financial distress dan 16 perusahaan dalam kategori tidak mengalami financial distress. Metode pengumpulan data menggunakan metode observasi nonparatisipan dan regresi logistik sebagai teknik analisis data. Hasil penelitian ini menemukan bahwa: current asset turnover memiliki pengaruh negatif tidak signifikan terhadap financial distress, total asset turnover berpengaruh negatif signifikan terhadap financial distress, days sales in receivables memiliki pengaruh positif tidak signifikan terhadap financial distress, cash flow to total debt memiliki pengaruh negatif tidak signifikan terhadap financial distress, dan debt to asset berpengaruh berpengaruh positif signifikan terhadap financial distress. Kata kunci : kondisi keuangan, financial distress, dan rasio keuangan.

scholarly journals KINERJA RASIO KEUANGAN UNTUK MEMPREDIKSI KONDISI FINANCIAL DISTRESS PADA PERUSAHAAN JASA DI BURSA EFEK INDONESIA PERIODE 2009-2014

2017 ◽  
Vol 6 (1) ◽  
Author(s):  
Muazaroh Muazaroh
Keyword(s):  
Financial Distress ◽  
Service Sector ◽  
Stock Exchange ◽  
Warning System ◽  
Total Asset ◽  
Return On Assets ◽  
Current Ratio ◽  
Analysis Technique ◽  
Asset Turnover ◽  
Equity Ratio

Identifying financial distress condition is important because it can be an early warning system before bankcruptcy. This condition can be predicted using models that have developed by many researchers. The purpose of this research is to describe and analyze the effect of the return on assets, current ratio, debt to equity ratio and total asset turnover towards condition of financial distress in service sector listed in Indonesian Stock Exchange (IDX) in the year 2009-2014. The data analysis technique is logistic regression. The sample consist of 60 data observed of the firms with positive earning before tax for the two consecutive years and 60 data observed of the firms with negative earning before tax for the two consecutive years. The result of this research shows thatreturn on asset significantly affects to condition of company financial distress. Whereas debt to equity ratio, current ratio and total asset turnover do not significantly influenceto condition of company financial distress.So, companies should pay attention to productivity in the future to maintain the effectiveness of the management.

scholarly journals Analysis of Altman Model and Ohlson Model in Predicting Financial Distress of Manufacturing Companies in the Indonesia Stock Exchange

2017 ◽  
Vol 1 (1) ◽  
pp. 51-63
Author(s):  
Elsa Imelda ◽  
Ignacia Alodia
Keyword(s):  
Discriminant Analysis ◽  
Financial Distress ◽  
Stock Exchange ◽  
Logit Analysis ◽  
Net Income ◽  
Manufacturing Companies ◽  
Multiple Discriminant Analysis ◽  
Retained Earnings ◽  
Ohlson Model ◽  
Altman Model

The purpose of this research is to examine the accuracy of the Altman Model and the Ohlson Model in Bankruptcy Prediction.The research population is all companies who are listed on the Indonesian Stock Exchange. The sample of the research is 40 manufacturing companies listed on the Indonesian Stock Exchange in the period of 2010-2014 that are divided into companies with financial distress and those without financial distress.The data analysis technique is the Multiple Discriminant Analysis and Logit Analysis. The Multiple Discriminant Analysis is derived from the Altman Model while the Logit Analysis is derived from theOhlson Model. The results show that the Ohlson Model and the Logit Analysis are more accurate than the Altman Model and the Multiple Discriminant Analysis in predicting bankruptcy of manufacturing firms in the Indonesian Stock Exchange (BEI) in 2010-2014. Also, the results of the study reveal that the ratio of retained earnings to total assets; earning before interest and taxes to total assets; market value of equity to total liabilities; sales to total assets; and debt ratio, return on assets, working capital to total assets and net income were negative in the last two years. Hence constitutes the benchmark for consideration in determining the financial distress of a company.

scholarly journals Pengaruh Aktivitas, Solvabilitas dan Ukuran Perusahaan Terhadap Profitabilitas Perusahaan Manufaktur Sub Sektor Makanan dan Minuman di Bursa Efek Indonesia Tahun 2012 – 2017

2020 ◽  
Vol 4 (2) ◽  
pp. 81
Author(s):  
Hendry Gunawan
Keyword(s):  
Firm Size ◽  
Stock Exchange ◽  
Secondary Data ◽  
Financial Statements ◽  
Total Asset ◽  
Test Results ◽  
Manufacturing Companies ◽  
Food And Beverages ◽  
Asset Turnover ◽  
Equity Ratio

The purpose of this research is to determine the effect of the ratio of activity, solvability, firm size to company’s profitability in manufacturing companies food and beverages sub-sector listed in Indonesia Stock Exchange period 2012-2017. The sampling method is done by using purposive sampling. The method of collecting secondary data is taken from the IDX that publishes the financial statements. This research uses descriptive statistical analysis and multiple regression analysis with Eviews 9. The results showed that total asset turnover is positive significant, debt to equity ratio is not significant and firm size is not significant to profitability of company. F-test results show total asset turnover, debt equity ratio and size independent variables in this research simultaneously don’t have a significant effect on the return of equity of companies in the food and beverages sub-sector listed on the Indonesia Stock Exchange.

scholarly journals ANALISIS KEMAMPUAN CURRENT RATIO, RETURN ON TOTAL ASSETS, DEBT TO TOTAL ASSETS, TOTAL ASSETS TURNOVER, DAN PRICE EARNING RATIO DALAM MEMPREDIKSI PERTUMBUHAN LABA PADA PERUSAHAAN MANUFAKTUR DI BEI TAHUN 2013-2017

2020 ◽  
Vol 3 (1) ◽  
pp. 24
Author(s):  
Frenita Damayanti Damayanti ◽  
Lardin Korawijayanti Korawijayanti ◽  
Tutik Dwi Karyanti
Keyword(s):  
Linear Regression ◽  
Multiple Linear Regression ◽  
Stock Exchange ◽  
Total Asset ◽  
Manufacturing Companies ◽  
Current Ratio ◽  
Earnings Growth ◽  
Asset Turnover ◽  
Independent Variable ◽  
Profit Growth

<p><em>This study aims to examine the effect of current ratio, return on total assets, debt to total assets, total asset turnover, and price earning ratio in predicting profit growth both simultaneously and partially. The sample in this study were 55 manufacturing companies listed on the Indonesia Stock Exchange during 2013-2017.The collected data will be processed and then analyzed using multiple linear regression. The test is carried out using the help of the SPSS for Windows program.</em><br /><em>The results of the analysis show that the current ratio, return on total assets, debt to total assets, total asset turnover, and price earning ratio simultaneously influence in predicting earnings growth. Partially, only return on total assets and total assets turnover has a significant effect on predicting earnings growth. The value of adjusted R square is 7,7%. This means that 7,7% of profit growth can be explained by independent variable (current ratio, return on total assets, debt to total assets, total asset turnover, and price earning ratio). While the remaining (92,3%) is explained by other variables or other causes.</em></p>

PELUANG KESULITAN KEUANGAN PADA PERUSAHAAN GO PUBLIK YANG TERCATAT DI BURSA EFEK INDONESIA

2019 ◽  
Vol 15 (1) ◽  
pp. 55
Author(s):  
Paula Novena Setio
Keyword(s):  
Cash Flow ◽  
Stock Exchange ◽  
Financial Statements ◽  
Cash Flows ◽  
Free Cash Flow ◽  
Total Asset ◽  
Net Income ◽  
Financial Condition ◽  
Financial Difficulties ◽  
Asset Turnover

This study aimed to examine the chances of financial difficulties at the company went public in Indonesia and listed on the Indonesia Stock Exchange (BEI). Financial difficulties chances have been found among unwell financial condition companies. The factors tested in this study is the condition of the company's financial statements are summarized in several variables such as cash flow, free cash flow, total asset turnover, liquidity, ROE, debt, age of the company, and the size of the company. Samples were 65 non-bank companies that go public and listed on the Indonesia Stock Exchange in 2009-2014. A total of 35 companies that have no chance of financial difficulties and the 30 companies that have a chance of financial difficulties. Where the measurement is done by means of selecting the financial statements, the financial statements are experiencing net income negatively in three consecutive years for companies that have a chance of financial difficulties and the financial statements are experiencing positive earnings were stable and even increased for three consecutive years Similarly, for companies that have no chance of financial difficulties. The results showed that the cash flows are measured as if dealing with the failure of non-bank company in Indonesia, and has a significant impact in predicting financial difficulties and significant opportunities. Keywords: cash flow, free cash flow, total asset turnover, liquidity, ROE, debt, age of the company, company size, and the chances of financial difficulties. ABSTRAK Penelitian ini bertujuan untuk menguji peluang kesulitan keuangan pada perusahaan go publik di Indonesia dan tercatat pada Bursa Efek Indonesia (BEI). Ditemukan peluang kesulian keuangan pada perusahaan yang memiliki kondisi keuangan yang buruk. Adapun faktor-faktor yang diuji dalam penelitian ini adalah kondisi laporan keuangan perusahaan yang dirangkum dalam beberapa variabel seperti arus kas, arus kas bebas, perputaran total aset, likuiditas, ROE, hutang, usia perusahaan, dan ukuran perusahaan. Sampel penelitian adalah 65 perusahaan non bank yang go publik dan terdaftar di Bursa Efek Indonesia pada periode 2009-2014. Sebanyak 35 perusahaan yang tidak memiliki peluang kesulitan keuangan dan 30 perusahaan yang memiliki peluang kesulitan keuangan. Dimana pengukuran ini dilakukan dengan cara penyeleksian laporan keuangan, yaitu laporan keuangan yang mengalami laba bersih negatif secara tiga tahun berturut-turut untuk perusahaan yang memiliki peluang kesulitan keuangan dan laporan keuangan yang mengalami laba positif yang stabil dan bahkan mengalami peningkatan selama tiga tahun berturut-turut pula untuk perusahaan yang tidak memiliki peluang kesulitan keuangan. Hasil penelitian menunjukkan bahwa aliran kas yang diukur seolah-olah berhubungan dengan kegagalan perusahaan non bank di Indonesia, dan memiliki dampak yang berarti dalam memprediksi peluang kesulitan keuangan dan signifikan. Kata kunci: arus kas, arus kas bebas, perputaran total aset, likuiditas, ROE, hutang, usia perusahaan, ukuran perusahaan, dan peluang kesulitan keuangan.

scholarly journals Pengaruh Financial Distress, Total Asset Turnover, dan Audit Tenure pada Pemberian Opini Going Concern

2020 ◽  
Vol 30 (9) ◽  
pp. 2392
Author(s):  
Abdul Gani Damanhuri ◽  
I Made Pande Dwiana Putra
Keyword(s):  
Financial Distress ◽  
Stock Exchange ◽  
Manufacturing Sector ◽  
Sampling Technique ◽  
Total Asset ◽  
Test Results ◽  
Going Concern ◽  
Financial Difficulties ◽  
Going Concern Opinion ◽  
Asset Turnover

The purpose of this study is to obtain empirical evidence of the influence of financial distress, total asset turnover, and audit tenure on going concern opinion. Research located on the Indonesia Stock Exchange (BEI) especially for the manufacturing sector for the period 2015-2018. The sample determined by using purprosive sampling technique, and obtained 23 companies as a samples with 4 years of observation so the total of sample it’s 92 samples. The hypothesis was tested using logistic regression analysis techniques. The test results reveal that financial difficulties have a significant effect on the implementation of opinion that is happening. Distributed TAT and tenure audits are negative on going concern opinion. Keywords: Financial Distress; Total Asset Turnover; Tenure Audit; Going Concern Opinion.

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