Effects of Infrastructure Development, Inflation and Economic Growth to Performance Company (ROA, Tobin's Q, PBV): Study on Registered Infrastructure Support Companies in IDX Period 2014-2019

The financial performance can be used as a benchmark of the ability of an organization or company in achieving its goals. Performance measurement is one of the most important factors for an organization or company, performance measurement is a process of measuring the extent to which a company does work to achieve its goals. The research investigated the impact of infrastructure, economic growth and inflation on financial performance of infrastructure support companies listed in Indonesian Stock Exchange Period 2014-2019 which is proxied by ROA (Return on Assets), Tobin’s Q and PBV (Price to Book Value). The population of this research was the infrastructure support companies listed on the Indonesian Stock Exchange period 2014-2019. Research sampling was conducted using The Purposive Sampling Method. The data analysis was camed out using classical assumption test, multiple linear regression analysis, t-test, F-test and determinan (R2) test with SPSS 21. The research finding showed that the model has an effect on the financial performance as proxied by ROA. So the results of the hypothesis test show that: (1) Infrastructure development has a negative and significant effect on ROA. (2) The inflation rate has a positive and significant effect on ROA. (3) Economic growth has no significant effect on ROA. Meanwhile, the model has no effect on financial performance which is proxied in Tobin's Q and PBV.

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Effects of Infrastructure Development, Inflation and Economic Growth to Performance Company (ROA, Tobin's Q, PBV): Study on Registered Infrastructure Support Companies in IDX Period 2014-2019

10.31219/osf.io/sqz7u ◽

2021 ◽

Author(s):

Eko Sarjono ◽

Kartika Hendra Titisari ◽

Supawi Pawenang

Keyword(s):

Economic Growth ◽

Performance Measurement ◽

Financial Performance ◽

Stock Exchange ◽

Hypothesis Test ◽

Linear Regression Analysis ◽

Infrastructure Development ◽

Tobin’S Q ◽

Tobin's Q ◽

The Impact

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Relationship of board diversity with firm’s financial performance: The case of publicly listed companies in China

Corporate Ownership and Control ◽

10.22495/cocv19i1siart2 ◽

2021 ◽

Vol 19 (1, special issue) ◽

pp. 229-240

Author(s):

David Qian ◽

Wahed Waheduzzaman ◽

Sarod Khandaker

Keyword(s):

Financial Performance ◽

Stock Exchange ◽

Listed Companies ◽

Hierarchical Regression ◽

Measurement Tool ◽

Tobin’S Q ◽

Tobin's Q ◽

Board Diversity ◽

Value Measurement ◽

The Impact

This study examines the impact of board diversity including the gender, nationality, and independence of board members on the financial performance of publicly listed companies in China. This study uses a sample of 206 publicly listed companies on the Shanghai Stock Exchange and the Shenzhen Stock Exchange in China to measure the impact of board diversity on their financial performance. Organizational financial performance is measured with the widely-used accounting-based measurement tool return on asset (ROA), and the market value measurement tool Tobin’s Q. After applying a hierarchical regression analysis this study finds that women on the board impact positively on firm’s financial performance while measures by ROA, but not by Tobin’s Q. The study also finds that the nationality of directors and independent board membership is found to have no significant influence on firms’ financial performance. This study has implications on the business firms to develop the strategic guidelines of board composition to ensure the effectiveness and profitability of their companies

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Bankruptcy Risk and Financial Performance of Companies Listed on the Stock Exchange of Thailand

International Journal of Financial Research ◽

10.5430/ijfr.v12n4p78 ◽

2021 ◽

Vol 12 (4) ◽

pp. 78

Author(s):

Thitima Chaiyakul

Keyword(s):

Financial Performance ◽

Firm Size ◽

Stock Exchange ◽

Tobin’S Q ◽

Z Score ◽

Tobin's Q ◽

Bankruptcy Risk ◽

Finance Industry ◽

Stock Exchange Of Thailand ◽

The Impact

Financial performance is an important issue for entrepreneurs and investors. So far the number of studies on the effect of bankruptcy risk on financial performance of firms is small. Hence, this research investigates the impact of bankruptcy risk on financial performance of companies listed on the Stock Exchange of Thailand and the relevant data cover the period between 2015 and 2019. Excluded are companies operating in the finance industry. The data are analyzed by multiple regression analysis. Altman’s Z-score (1968) is used as a proxy for bankruptcy risk while ROA, ROE, and Tobin’s Q serve as proxies for financial performance. The control variables in this study are liquidity, capital structure, firm size, and inflation rate. Results reveal that Altman’s Z-score and firm size statistically and positively affect financial performance proxied by both accounting-based-measures, i.e. ROA and ROE; and market-based measures, i.e. Tobin’s Q. These results confirm that companies listed on Thailand’s Stock Exchange have low bankruptcy risk and large size is financially performed well.

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Pengungkapan Corporate Social Responsibility (CSR) dan Kinerja Keuangan Perusahaan dengan Pengungkapan Anti Korupsi sebagai Variabel Moderasi

Akmenika: Jurnal Akuntansi dan Manajemen ◽

10.31316/akmenika.v16i2.393 ◽

2019 ◽

Vol 13 (2) ◽

Author(s):

Arief Hidayatullah Khamainy ◽

Dessy Novitasari Laras Asih

Keyword(s):

Regression Analysis ◽

Financial Performance ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Sampling Technique ◽

Analysis Technique ◽

Study Population ◽

Csr Disclosure ◽

Corporate Social ◽

The Impact

The research was carried out to find the influence of training material and methods of training toward workability. The study was conducted respectively from an employee of PD BPR Bantul Yogyakarta. The purpose of this research is expected to be useful for stakeholders in seeing CSR disclosure in the company in testing and analyzing its effect on the company's financial performance and with the presence of anti-corruption exposure, whether it will strengthen the impact of CSR disclosure on the company's financial performance. The study population in this study were all mining companies registered on the Indonesia Stock Exchange in 2016-2018 with a total of 63 companies. The research sample was taken using a random sampling technique that was calculated by the Slovin formula so that 54 samples were obtained for analysis. Linear Regression Analysis and Moderation Regression Analysis were chosen as the analysis technique used in this study. The results show that CSR disclosure does not affect the company's financial performance, and anti-corruption disclosure does not affect the relationship between the two.

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The Influence of Good Corporate Governance and Capital Structure on Firm Value: The Mediation Role of Financial Performance

Media Ekonomi dan Manajemen ◽

10.24856/mem.v35i2.1554 ◽

2020 ◽

Vol 35 (2) ◽

pp. 230

Author(s):

Ridwan Nurazi ◽

Intan Zoraya ◽

Akram Harmoni Wiardi

Keyword(s):

Corporate Governance ◽

Capital Structure ◽

Financial Performance ◽

Firm Value ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Multiple Linear Regression Analysis ◽

Company Value ◽

Good Corporate Governance ◽

The Impact

<pre>The objective of this study is empirically identify the impacts of Good Corporate Governance and capital structure on firm value with financial performance as intervening variable. We operate quantitative approach within the scope of manufacturing company of metal, chemical, and plastic packaging sector which listed in Indonesia Stock Exchange during the 2017-2018 periods as the population. Samples are chosen by purposive sampling method inwhich the company must report the financial statement in a row, obtained 79 observations. The data analysis technique used is financial ratio analysis to determine the condition of the business financial ratios of the variables studied. Data were analyzed using multiple linear regression analysis. The result shows that corporate governance and capital structure influence the firm value, moreover the use of institutional ownership ratio and capital structure will increase the value of the firm. The result also shows that the impact of Corporate governance and capital structure on the company value are mediated by financial performance. It means that the value of the firm can increase if the company able became an effective monitoring tool.</pre>

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Income Diversification and Financial Performance of Selected Deposit Money Banks in Nigeria

International Journal of Applied Management Sciences and Engineering ◽

10.4018/ijamse.20210101.oa1 ◽

2021 ◽

Vol 8 (1) ◽

pp. 1-17

Author(s):

Emmanuel Uniamikogbo ◽

Emma I. Okoye ◽

Arowoshegbe O. Amos

Keyword(s):

Financial Performance ◽

Foreign Exchange ◽

Stock Exchange ◽

Sampling Technique ◽

Annual Reports ◽

Tobin’S Q ◽

Firm Age ◽

Income Diversification ◽

Tobin's Q ◽

Negative Effect

This study examined the effect of income diversification on financial performance of deposit money banks (DMBs) in Nigeria. Variables considered were commission, foreign exchange incomes, and firm age, which are proxies for income diversification and financial performance proxied by Tobin's Q ratio. The purposive sampling technique was used to select the 8 banks classified by Central Bank of Nigeria to be Domestic Systematically Important Banks in Nigeria. Data collected from the annual reports and the Nigerian Stock Exchange website for a period 2008-2018 were used. Statistical tools used were the descriptive statistics and econometric analysis using the panel data. Findings showed that while commission income has a significant positive effect on Tobin's Q ratio of DMBs, foreign exchange income and firm age each have a significant negative effect on Tobin's Q ratio of DMBs in Nigeria. It is recommended that banks in Nigeria minimize their income from foreign exchange to maximize performance since income from these transactions tend to inhibit bank financial performance.

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PENGARUH KRISIS MONETER PADA KINERJA KEUANGAN DAN NILAIPERUSAHAAN

Media Riset Akuntansi Auditing & Informasi ◽

10.25105/mraai.v9i1.666 ◽

2009 ◽

Vol 9 (1) ◽

pp. 34

Author(s):

Nelli Novyarni

Keyword(s):

Financial Performance ◽

Stock Exchange ◽

Tobin’S Q ◽

Corporate Value ◽

Manufacturing Companies ◽

Tobin's Q ◽

Financial Ratio ◽

Before And After ◽

Equity Ratio ◽

Monetary Crisis

This study was aimed analyzing the monetary crisis on financial performance and corporation value effect.This study found that the monetary crisis affect on financial performance and corporation value. The study on 50 manufacturing companies consist of 25 companies variety business and industry and pharmacist notes at Jakarta Stock Exchange from 1992 to 2002 revealed that the monetary crisis cause decrease in financial performance and corporate value. Based on before and after mean financial and Tobin 's Q ratio, it found that the monetary crisis cause decrease in financial performance especially in 1998 and corporation value from 1998 to 2002. This study also found that based on each sector, the monetary crisis affect all financial ratio at sector one, especially in 1998 and 2000 and the monetary crisis just affect debt to equity ratio from to 2002 at sector two. Beside that the monetary crisis affect corporation value of all sectors.Keywords: Monetary crisis; financial ratio; Tobin's Q; Financial Performance; Value of the firm.

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Corporate governance and financial performance of listed companies: A case of an emerging market

Corporate Governance and Sustainability Review ◽

10.22495/cgsrv5i3p1 ◽

2021 ◽

Vol 5 (3) ◽

pp. 8-17

Author(s):

Emmanuel Selase Asamoah ◽

Albert Puni

Keyword(s):

Corporate Governance ◽

Financial Performance ◽

Performance Indicator ◽

Stock Exchange ◽

Emerging Market ◽

Target Population ◽

Governance Structure ◽

Tobin’S Q ◽

Tobin's Q ◽

A Performance

Corporate financial performance (CFP) is a key benefit that comes with the adoption and implementation of a good corporate governance structure in organizations. The objective of this paper is to analyze the effect of the six (6) broad corporate governance structures (board composition, board committees, separation of CEO/chairman, size of board, number of board meetings held, and shareholder concentration) on CFP measured by ROA, ROE, EPS, and Tobin’s Q among Ghanaian companies. The target population for the study was the companies that were listed on the Ghana Stock Exchange (GSE) for the period 2015–2020 and purposive sampling methods were deployed in the sample selection. The study found that using ROA as a performance indicator, corporate governance variables affected CFP by 18.95% whilst it influenced ROE by 29.71%. Additionally, corporate governance mechanisms impacted EPS by 52.53% when it was used as a performance indicator and 18.01% when Tobin’s Q was the performance index. The paper concludes that companies that implement the corporate governance guidelines on best practices stand a better chance of enhancing CFP especially with performance targets that integrate shareholder value maximization.

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The Impact of Firm Characteristics on Corporate Financial Performance in Emerging Markets

International Journal of Customer Relationship Marketing and Management ◽

10.4018/ijcrmm.2020100105 ◽

2020 ◽

Vol 11 (4) ◽

pp. 70-89

Author(s):

Salah A. Ali ◽

Mohamed Yassin ◽

Rania AbuRaya

Keyword(s):

Financial Performance ◽

Audit Committee ◽

Corporate Financial Performance ◽

Tobin’S Q ◽

Firm Characteristics ◽

Return On Assets ◽

Tobin's Q ◽

Return On Equity ◽

The Impact

This study investigates the impact of firm characteristics on the financial performance of companies listed on the Egyptian stock market. Regression model was performed to regress six firm characteristics variables, namely firm size, foreign listing, age, leverage, liquidity, and assets tangibility. The study controlled for five more variables related to corporate governance including board size, board independence, CEO role duality, audit committee, and the quality of external auditor to avert their effect on financial performance. The study used both accounting measures such as return on assets (ROA) and return on equity (ROE) and market-based Tobin's Q Ratio for measuring financial performance. The findings generally indicate that firm characteristics have an impact on both accounting financial performance as measured by ROA or ROE and market-based financial performance as measured by Tobin's Q, with little difference in the level of such impact. These findings revealed that firm characteristics affect corporate financial performance as evaluated by the company or the market.

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PENGARUH SUKU BUNGA, NILAI TUKAR, PERTUMBUHAN EKONOMI, KINERJA KEUANGAN, KEPUTUSAN PENDANAAN, DAN KEPUTUSAN INVESTASI TERHADAP NILAI PERUSAHAAN

Equator Journal of Management and Entrepreneurship (EJME) ◽

10.26418/ejme.v9i1.45929 ◽

2021 ◽

Vol 9 (1) ◽

Author(s):

Dwi Nova Wijaya

Keyword(s):

Economic Growth ◽

Exchange Rates ◽

Financial Performance ◽

Interest Rates ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Investment Decisions ◽

Multiple Linear Regression Analysis ◽

Firm Financial Performance ◽

Industrial Sectors

Value of the firm illustrates how well or not management manages its wealth. The firm's high value can increase prosperity for shareholders, so it can influence investor perception of the company. Every company is required to be able to process the important functions that exist in the company effectively and efficiently so that the company can be superior. Value of the firm can be influenced by macro-economic conditions in a country and micro-economics in industrial sectors. This study aims to test macro-economic factors, namely, the influence of interest rates, exchange rates, economic growth and micro-economics, namely financial performance, funding decisions and investment decisions on the value of the firm. The population of this research is 100 companies at Kompas 100 listed on the Indonesia Stock Exchange in 2015 – 2019. Samples of this study as many as 51 companies were selected based on purposive sampling techniques. The data analysis method used is multiple linear regression analysis. The results showed that there is a negative and insignificant influence of interest rates, economic growth on the value of the firm. Exchange rates and investment decisions have a positive and insignificant effect on the value of the firm. Financial performance has a positive and significant effect on the value of the firm. Financial decisions have a negative and significant effect on the value of the company.

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