scholarly journals The Effect of Leverage and Debt Maturity on the Corporate Financial Performance: Evidence from Non Financial Firms Listed at Pakistan Stock Exchange

2021 ◽  
Vol 3 (1) ◽  
pp. 35-47
Author(s):  
Naveed Khan ◽  
Hamid Ullah ◽  
Mustafa Afeef
Keyword(s):  
Financial Performance ◽  
Stock Exchange ◽  
Debt Maturity ◽  
Corporate Financial Performance ◽  
Current Ratio ◽  
Financial Firms ◽  
Insignificant Effect ◽  
Sale Growth ◽  
Negative Effect

Purpose This study examined the effect of leverage, debt maturity on corporate financial performance of non-financial firms listed at the Pakistan Stock Exchange. Targeted population of this study was 100 firm listed at PSX as KSE-100 index out of which 74 non-financial firms were selected from 28 different sectors for the period of 5 years 2013 to 2017. Design/Methodology/Approach: Financial performance measured by ROA, ROE, while leverage, short term leverage, long term leverage taken as independent variables, four variables were taken as control which are size, current ratio, sale growth, tangibility. On the basis of Hausman test, results of random effect model were found appropriate. Findings: ST and LT Leverage have a negative significant and insignificant effect on financial performance (ROA) respectively, moreover long term leverage has a positive and significant but short has a negative and insignificant effect on ROE. The results of the control variables showed that size has a negative and significant effect on ROA and ROE, whereas current ratio has insignificant and negative effect on ROA, ROE. Sale growth has a positive and insignificant effect on firms ROA and ROE. Tangibility has insignificant and negative effect on financial performance. Implications/Originality/Value: This study is consistent with traditional trade-off theory and recommended that management of the non-financial firms listed at the PSX should employ minimal debt level or use an optimal level of capital structure and also to attract good management thus to improve their financial performance.

scholarly journals Analysis On The Influence Of Current Ratio, Debt to Equity Ratio and Total Asset Turnover Toward Return On Assets On The Otomotive and Component Company That Has Been Registered In Indonesia Stock Exchange Within 2011-2017

2020 ◽  
Vol 1 (1) ◽  
pp. 36-44 ◽  
Author(s):  
Mimelientesa Irman ◽  
Astri Ayu Purwati
Keyword(s):  
Financial Performance ◽  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Multiple Linear Regression Analysis ◽  
Total Asset ◽  
Return On Assets ◽  
Current Ratio ◽  
Negative Effect ◽  
Asset Turnover ◽  
Equity Ratio

A good company can be seen from the level of return on assets invested, and it affects the interest of an investor to invest in. But the high or low level of profit can be influenced by the financial performance of one of the financial performance is the Current Ratio, Debt to Equity Ratio, and Total Asset Turnover.  Therefore, a study was conducted to find out whether the Current Ratio, Debt to Equity Ratio, and Total Asset Turnover had an effect on Return On Assets in Automotive and Component companies listed on the Indonesia Stock Exchange for the period 2011-2017. The study population consisted of 12 companies selected by purposive sampling. Financial report data is obtained from the Indonesia Stock Exchange (IDX).  The data analysis technique used is multiple linear regression analysis with SPSS 19.0 and SMART PLS 2019 application tools. The results obtained from this study are the Current Ratio which has a significant effect on Return On Assets, Debt to Equity Ratio has a not significant negative effect on Return On Assets, and Total Asset has a significant positive effect on Return On Assets.

scholarly journals PENGARUH REAL MANIPULATION DALAM MEMODERASI CORPORATE ENVIRONMENTAL DISCLOSURE DAN CORPORATE FINANCIAL PERFORMANCE

2018 ◽  
Author(s):  
Kenny Ardillah
Keyword(s):  
Financial Performance ◽  
Stock Exchange ◽  
Corporate Financial Performance ◽  
Short Term ◽  
Environmental Disclosure ◽  
Long Run ◽  
Sample Data ◽  
Short And Long Term ◽  
Positive Effect

<p><em>This study aims to prove empirically the influence of real manipulation in moderating the negative corporate environmental disclosure against corporate financial performance in the short and long term. This research theory focuses on stakeholder theory.</em></p><p><em>The research sample focuses on state-owned companies listed on the Indonesia Stock Exchange in the </em>2013-2016<em> period. The criteria for selecting research samples used purposive sampling method, so that it was obtained 11 companies that became the research sample. Data were analyzed using classic assumption test, descriptive statistic, and moderated regression analysis using </em>SPSS 19.0<em>.</em></p><p><em>The results of this study are corporate environmental disclosure has a positive effect on corporate financial performance in the short term, real manipulation moderates negatively corporate environmental disclosure towards corporate financial performance in the short term, corporate environmental disclosure has no effect towards corporate financial performance in the long run, and real manipulation can not moderate corporate environmental disclosure towards corporate financial performance in the long run.</em></p><p><em> </em></p><p><em>Keywords </em>:<em> Real Manipulation, Corporate Environmental Disclosure, Corporate Financial Performance</em></p>

scholarly journals Debt maturity structure and firms’ performance: Evidence from Vietnam

2020 ◽  
Vol 6 (03) ◽  
Author(s):  
Hoang duc LE
Keyword(s):  
Positive Impact ◽  
Stock Exchange ◽  
Debt Maturity ◽  
Financial Firms ◽  
Debt Maturity Structure ◽  
Maturity Structure ◽  
Generalized Methods Of Moments ◽  
Methods Of Moments ◽  
The Impact

This paper investigates the impact of debt maturity structure on firms’ performance for all non-financial firms listed on Ho Chi Minh City Stock Exchange and Hanoi Stock Exchange between 2010 and 2017. We find that an increase in the ratio of long-term debt over total debt is associated with a decrease in firms’ performance. We also show that long-term debt financing can lead to a reduction in firms’ performance because it dampens the positive impact of the investment on firms’ performance. Our results are robust when we employ a System Generalized Methods of Moments to deal with endogeneity problems.

scholarly journals Pengaruh Kinerja Keuangan Terhadap Return Saham Perusahaan Badan Usaha Milik Negara

2020 ◽  
Vol 8 (3) ◽  
pp. 425-434
Author(s):  
Alfi Widiana ◽  
Rahmawati Hanny Yustrianthe
Keyword(s):  
Financial Performance ◽  
Stock Returns ◽  
Stock Return ◽  
Sampling Method ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Debt Ratio ◽  
Current Ratio ◽  
Purposive Sampling ◽  
Insignificant Effect

Abstract This objective of this research is to investigate  the influence of current ratio, cash ratio, debt ratio to stock returns.  The sample is selected by purposive sampling method, ie sampling technique using a  certain considerations that are relevant  to the selected sample research purposes. The number of samples obtained are 20 BUMN companies listed on the Indonesia Stock Exchange. The results of this study indicate that the current ratio and cash ratio as a measurement of financial performance have a positive and significant effect on stock returns. While the debt ratio has a negative and insignificant effect on stock returns. Keywords : Financial Performance, Financial Ratios, Stock Return.   Abstrak Penelitian ini bertujuan untuk menganalisa pengaruh current ratio, cash ratio, debt ratio terhadap return saham. Penentuan sampel dilakukan dengan menggunakan metode purposive sampling, yaitu teknik sampling dengan menggunakan pertimbangan dan batasan tertentu sehingga sampel yang dipilih relevan dengan tujuan penelitian. Jumlah sampel yang diperoleh sebanyak 20 perusahaan BUMN yang terdaftar di Bursa Efek Indonesia. Data dianalisis dengan analisis deskriptif dan analisis regresi berganda. Hasil dari penelitian ini mengindikasikan bahwa current ratio dan cash ratio sebagai pengukuran kinerja keuangan memiliki pengaruh positif dan signifikan terhadap return saham. Sedangkan debt ratio berpengaruh negatif dan tidak signifikan terhadap return saham. Kata Kunci : Kinerja Keuangan, Rasio Keuangan, Return Saham.

scholarly journals Analisis Kinerja Keuangan Perusahaan Dagang PT. Ace Hardware Indonesia, Tbk Di Bursa Efek Indonesia Periode 2014 - 2019

2020 ◽  
Vol 11 (2) ◽  
pp. 142
Author(s):  
Abd Halim ◽  
Indria Mayesti ◽  
Rika Neldawaty ◽  
Sri Wahyuni
Keyword(s):  
Financial Performance ◽  
Stock Exchange ◽  
Corporate Financial Performance ◽  
Current Ratio ◽  
Period 2 ◽  
Solvency Ratio

The purpose of this study is to explain the Analysis of Corporate Financial Performance (Case Study PT. ACE HARDWARE Indonesia, Tbk). This study aims to determine how the financial performance of the company PT. As seen from the Liquidity ratio of Ace Hardware Indonesia in the Indonesia Stock Exchange in the 2014-2019 period? 2) How is the financial performance of PT. Seeing the solvency ratio for Ace Hardware Indonesia on the Indonesia Stock Exchange in the 2014-2019 period? 3) How is the financial performance of PT. Ace Hardware Indonesia on the Indonesia Stock Exchange seen in the Rentability Ratio in the 2014-2019 period? The results of the study are based on the results of the liquidity ratio consisting of the current ratio and the quick ratio as a whole in the company PT. Ace Hardware Indonesia for the 2014-2019 period shows a liquid company condition where liquidity is used maximally by the company to generate revenue. Solvency ratios consist of Debt to Asset Ratio and Debt to Equity as a whole in the company PT. Ace Hardware Indonesia shows a solvable company condition. Keywords: Performance, Rentability, Solvency and Profitability

Factors That Influence Financial Performance

2019 ◽  
Vol 118 (5) ◽  
pp. 1-8
Author(s):  
Nursito ◽  
Yulianto Hadi ◽  
Dewi Puspaningtyas Faeni
Keyword(s):  
Financial Performance ◽  
Stock Exchange ◽  
Debt Ratio ◽  
Working Capital ◽  
Current Ratio ◽  
Feed Industry ◽  
Livestock Feed ◽  
Net Profit ◽  
Asset Turnover ◽  
Equity Ratio

This study aims to test empirically the factors that affect financial performance: current ratio, debt ratio, debt to equity ratio, total asset turnover, working capital turnover and net profit margin on return on investment in subsector of livestock feed industry listed in Indonesia Stock Exchange during the period 2006-2015.

KINERJA KEUANGAN PADA PERUSAHAAN PERTAMBANGAN DI BURSA EFEK INDONESIA

2017 ◽  
Vol 13 (1) ◽  
pp. 46-62
Author(s):  
Aries Veronica
Keyword(s):  
Financial Performance ◽  
Return On Investment ◽  
Stock Price ◽  
Stock Exchange ◽  
Hypothesis Test ◽  
Field Research ◽  
Total Asset ◽  
Current Ratio ◽  
Total Debt ◽  
Equity Ratio

The purpose of this study was to determine financial performance to stock price ofminning industries at Indonesian Stock Exchange . This research is field research withdata collection techniques using documentation that the sample size is as much as 33emitten. To test the effect of the financial performance to stock price used multipleregression analysis techniques and to test research hypotheses, F test and t test.From the results of calculations using SPSS for Windows version 17, showed that: thevalue of R Square (R2) illustrates that the Stock price (Y), can be explained by thefinancial performance amounted to 65.6%, while the rest 34.4%, can be explained byother factors, which are not included in this study. F Hypothesis test results, obtainedvalue of sig. (98,701)>(0.05), this means that there is influence of the current ratio, totalasset turnover , return on investment, and total debt to total asset ratio together againststock price. While the results of hypothesis testing t as follows: 1) sig. (0.000)< (0.05),which means that there is effect current ratio to stock price; 2) sig.(0.004) < (0.05),which means that there is effect debt to equity ratio to stock price; 3) sig.(0.846) >(0.05), which means that there is no effect total asset turnover to stock price; 4)sig.(0.000) (0.05), which means that there is no effect return on investment to stock price,and 5) sig.(0.700)>(0.05), which means that there is no effect total debt to total assetratio to stock price

The effect of the board of directors on the performance: Case of Tunisian banks

2020 ◽  
Vol 2 (2) ◽  
pp. 8-17
Author(s):  
Abdelkader Derbali ◽  
Lamia Jamel ◽  
Ali Lamouchi ◽  
Ahmed K Elnagar ◽  
Monia Ben Ltaifa
Keyword(s):  
Financial Performance ◽  
Board Of Directors ◽  
Stock Exchange ◽  
Market Performance ◽  
Outside Directors ◽  
Return On Equity ◽  
Satisfactory Outcome ◽  
Stock Market Performance ◽  
The Board Of Directors ◽  
Negative Effect

The board of directors plays a crucial role as an internal structure of corporate governance. Certainly, its efficiency is needy on the existence of numerous issues; the greatest significance is correlated to its characteristics that relay principally to the individuality of its memberships, board dimension, combining the purposes of pronouncement and regulator as well the grade of the individuality of the audit board and the diverse gender of the committee. To assess the authenticity of our assumptions, which stipulate the presence of deterministic characteristics of the committee on the profitability of Tunisian banks, we evaluated by three different ratios i.e., ROA (return on asset), ROE (return on equity), and MP (market performance); and we estimate three models with linear regressions. The empirical findings were performed on a data sample composed of 11 Tunisian banks listed on the Stock Exchange of Tunisia (SET) during the period from 1999 to 2018. From the estimated regressions, we find a satisfactory outcome indicating the significance of the influence of the characteristics of the committee on the banking performance in Tunisia. Then, the percentage of outside directors negatively affects the level of the financial performance of banks. The number of institutional administrators performs an essential role in improving financial performance. Finally, the duality of the Presidency of the Council General-Directorate has a negative effect on the level of stock market performance of Tunisian banks.

Corporate financial performance: a study based on the Carbon Efficient Index (ICO2) of Brazil stock exchange

2021 ◽  
Author(s):  
Carlos Rogério Montenegro de Lima ◽  
Samuel Borges Barbosa ◽  
Ruy de Castro Sobrosa Neto ◽  
Daniel Goulart Bazil ◽  
José Baltazar Salgueirinho Osório de Andrade Guerra
Keyword(s):  
Financial Performance ◽  
Stock Exchange ◽  
Corporate Financial Performance

Labor lawsuits and debt maturity

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Omer Unsal
Keyword(s):  
Chief Executive ◽  
Debt Maturity ◽  
Employee Relations ◽  
Short Term ◽  
Content Type ◽  
Negative Effect ◽  
Debt Market ◽  
Legal Fees

Purpose This paper aims to investigate how firms’ relationships with employees define their debt maturity. The authors empirically test the role of employee litigations in influencing firms’ choice of short-term versus long-term debt. The authors study employee relations by analyzing the importance of the workplace environment on capital structure. Design/methodology/approach The author’s test hypotheses using a sample of US publicly traded firms between 2000 and 2017, including 3,056 unique firms with 4,256 unique chief executive officer, adopting the fixed effect panel model. Findings The authors document that employee litigations have a significant negative effect on the use of short-term debt and a significant positive affect on long-term debt. Employee litigations, along with legal fees, outcomes and charging parties, matter the most in explaining debt maturity. In addition, frequently sued firms abandon the short-term debt market and use less shareholders’ equity to finance their operations while relying more on the longer debt market. Originality/value To the best of the authors’ knowledge, this is the first study to examine the role of employee mistreatment in debt maturity choice. The study extends the lawsuit and finance literature by examining unique, hand-collected data sets of employee lawsuits, allegations, violations, settlements, charging parties, case outcomes and case durations.

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