Prediksi Financial Distress Menggunakan Rasio Keuangan, Sensitivitas Makroekonomi, dan Intellectual Capital

2018 ◽  
Vol 10 (1) ◽  
pp. 16-33
Author(s):  
Dian Oktarina
Keyword(s):  
Intellectual Capital ◽  
Financial Distress ◽  
Price Index ◽  
Consumer Price Index ◽  
Value Added ◽  
Net Income ◽  
Working Capital ◽  
Current Ratio ◽  
Turnover Ratio ◽  
Equity Ratio

Penelitian ini bertujuan untuk melihat pengaruh rasio keuangan, indikator makroekonomi, dan intellectual capital terhadap financial distress. Rasio keuangan yang digunakan pada penelitian ini yaitu debt to equity ratio, total assets turnover ratio, current ratio, quick ratio, working capital ratio, net income to total assetsratio, dan cash ratio. Indikator makroekonomi yang digunakan pada penelitian ini adalah lending rate, Consumer Price Index (CPI), IHSG, inflasi, and kurs IDR/USD. Value Added Intellectual Coefficient (VAIC) digunakan untuk mengukur intellectual capital. Penelitian ini menggunakan sampel perusahaan manufaktur yang terdaftar di BEI mulai tahun 2012-2016. Penelitian ini menggunakan alat analisis regresi logistik untuk menguji hipotesis. Hasil penelitian ini menunjukkan bahwa inflasi, kurs IDR/USD, total assets turnover ratio, dan net income to total assets ratio berpengaruh negatif signifikan terhadap financial distress. Hal ini menunjukkan bahwa jika inflasi, kurs IDR/USD, total assets turnover ratio, dan net income to total assets ratio meningkat, maka financial distress menurun.

scholarly journals Pengaruh Manajemen Modal Kerja Terhadap Profitabilitas (Studi Empiris Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia)

2012 ◽  
Vol 4 (1) ◽  
pp. 35
Author(s):  
Ika Permatasari ◽  
Dian Puspitasari
Keyword(s):  
Logistic Regression ◽  
Cash Flow ◽  
Stock Exchange ◽  
Value Added ◽  
Flow Ratio ◽  
Capital Management ◽  
Working Capital ◽  
Current Ratio ◽  
Working Capital Management ◽  
Equity Ratio

AbstractThis research aims to analyze the affect between working capital management as measured by current ratio (CR), cash flow ratio (CFR), and debt to equity ratio (DER) to profitability as measured by value added (VA). The sample used was manufacturing company listed on Indonesia Stock Exchange period 2009-2011. The analysisis using logistic regression. The results show thatcurrent ratio had negativeeffect on the profitability and cash flow ratio had positiveeffect on the profitabilityratio. However, debt to equity ratio had no effect on profitability.

scholarly journals Corporate Bankruptcy Prediction Model, a Special Focus on Listed Companies in Kenya

2020 ◽  
Vol 13 (3) ◽  
pp. 47
Author(s):  
Daniel Ogachi ◽  
Richard Ndege ◽  
Peter Gaturu ◽  
Zeman Zoltan
Keyword(s):  
Financial Distress ◽  
Listed Companies ◽  
Debt Ratio ◽  
Working Capital ◽  
Corporate Bankruptcy ◽  
Current Ratio ◽  
Asset Turnover ◽  
Inventory Turnover ◽  
Equity Ratio ◽  
A Company

Predicting bankruptcy of companies has been a hot subject of focus for many economists. The rationale for developing and predicting the financial distress of a company is to develop a predictive model used to forecast the financial condition of a company by combining several econometric variables of interest to the researcher. The study sought to introduce deep learning models for corporate bankruptcy forecasting using textual disclosures. The study constructed a comprehensive study model for predicting bankruptcy based on listed companies in Kenya. The study population included all 64 listed companies in the Nairobi Securities Exchange for ten years. Logistic analysis was used in building a model for predicting the financial distress of a company. The findings revealed that asset turnover, total asset, and working capital ratio had positive coefficients. On the other hand, inventory turnover, debt-equity ratio, debtors turnover, debt ratio, and current ratio had negative coefficients. The study concluded that inventory turnover, asset turnover, debt-equity ratio, debtors turnover, total asset, debt ratio, current ratio, and working capital ratio were the most significant ratios for predicting bankruptcy.

scholarly journals Macroeconomic Indicators and Corporate Financial Ratios in Predicting Financial Distress

2018 ◽  
Vol 7 (2) ◽  
Author(s):  
Dian Oktarina
Keyword(s):  
Financial Distress ◽  
Stock Exchange ◽  
Consumer Price Index ◽  
Garment Industry ◽  
Financial Ratios ◽  
Data Sampling ◽  
Net Income ◽  
Current Ratio ◽  
Macroeconomic Conditions ◽  
Macroeconomic Indicators

In 2015, the performance of the textile and garment industry declined by 4.79% due to the global economic crisis which caused the textile and garment industry to experience a continuous deficit. This is a sign that the company is experiencing financial distress. Such a condition could have been recognized early if the financial statements and macroeconomic conditions had been carefully analyzed. The purpose of this study is to determine the macroeconomic indicators and financial ratios of companies in predicting financial distress. Data sampling in this research was taken from textile and garment industry sector companies listed on the Indonesian Stock Exchange (IDX). Macroeconomic indicators used are lending rate, consumer price index, IDX Composite, inflation, and IDR / USD exchange rate. The financial ratios used are debt equity ratio, total asset turnover ratio, current ratio, quick ratio, working capital ratio, net income to total assets ratio, and cash ratio. This research uses logistic regression analysis. The results indicate that current ratio and quick ratio can be used to predict financial distress. The next research can use other sector companies or all sector companies listed on the Indonesia Stock Exchange (IDX).

scholarly journals The Impact of Financial Ratios on the Dividend Payout Ratio in Coal Mining Companies

2021 ◽  
Vol 3 (2) ◽  
pp. 51-60
Author(s):  
Aldo Sebastian ◽  
Rahmat Siauwijaya
Keyword(s):  
Coal Mining ◽  
Total Asset ◽  
Working Capital ◽  
Current Ratio ◽  
Dividend Payout ◽  
Mining Companies ◽  
Turnover Ratio ◽  
Asset Turnover ◽  
Equity Ratio ◽  
The Impact

The purpose of this study is to determine the impacts of current ratio, debt to equity ratio, return on asset, total asset turnover ratio, and working capital turnover ratio on the dividend payout ratio in coal mining companies listed in Indonesia Stock Exchange 2016-2018. The sample used in this study was determined based on a purposive sampling method. The type of data used in this study is secondary data and the technique used to analyze the data in this study is panel data regression analysis. The results show that the debt to equity ratio has a negative and significant effect on the dividend payout ratio. While, current ratio, return on asset, total asset turnover ratio, and working capital turnover ratio have no significant effect on the dividend payout ratio.

scholarly journals PENGARUH INFLASI, SUKU BUNGA, LIKUIDITAS, DAN LEVERAGE TERHADAP NILAI PERUSAHAAN

Kinerja ◽  
2020 ◽  
Vol 2 (01) ◽  
pp. 36-48
Author(s):  
Yayan Hendayana ◽  
Nopita Riyanti
Keyword(s):  
Interest Rate ◽  
Interest Rates ◽  
Price Index ◽  
Stock Exchange ◽  
Consumer Price Index ◽  
Current Ratio ◽  
Leverage Ratio ◽  
Book Value ◽  
Company Value ◽  
Equity Ratio

This study aims to determine the effect of inflation (Consumer Price Index), Interest Rate (BI Rate), Liquidity Ratio (Current Ratio) and Leverage Ratio (Debt to Equity Ratio) on Company Value (Price to Book Value). The seals used in this study were Plantation Sub-Sector Companies listed on the Indonesia Stock Exchange and published financial statements in 2012-2017 with 15 sample companies using the purposive sampling method. The independent variables of this study are Inflation as measured by the Consumer Price Index (CPI), Interest Rates as measured by the BI Rate, Liquidity Ratio as measured by Current Ratio (CR) and Leverage Ratio as measured by Debt to Equity Ratio (DER). The dependent variable of this study is the Company Value measured by Price to Book Value (PBV). The results show that Inflation (Consumer Price Index), Interest Rate (BI Rate), Liquidity Ratio (Current Ratio) and Leverage Ratio (Debt to Equity Ratio) a have significant effect on Company Value (Price to Book Value).

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.

Pengaruh Intellectual Capital, Profitabilitas, Dan Leverage Terhadap Nilai Perusahaan Pada Perusahaan Sektor Properti, Real Estate, Dan Konstruksi Bangunan Yang Terdaftar Di Bursa Efek Indonesia

2018 ◽  
Vol 9 (2) ◽  
pp. 1-14
Author(s):  
Haryani Chandra ◽  
Hamfri Djajadikerta
Keyword(s):  
Real Estate ◽  
Intellectual Capital ◽  
Firm Value ◽  
Stock Price ◽  
Stock Exchange ◽  
Value Added ◽  
Simple Random Sampling ◽  
Positive Influence ◽  
Public Companies ◽  
Equity Ratio

Go public companies have main purpose to increase firm value consistently. Increased firm value can reflect the increase in the prosperity of shareholders. The purpose of this research is to determine whether intellectual capital, profitability, and leverage have an influence on firm value. This research is expected to help companies to determine the focus on managing the factors those have an influence towards firm value and help investors and potential investors to make investment decisions. This research is conducted on firms listed in property, real estate, and building construction sector in Indonesia Stock Exchange during 2010 until 2015. Samples are selected by simple random sampling method. The research method used is the regression analysis. Intellectual capital is measured by value added intellectual coefficient (VAIC), profitability is measured by return on assets (ROA), leverage is measured by debt- to-equity ratio (DER), and firm value is measured by the year-end closing stock price. The results showed that intellectual capital, profitability, and leverage have partially a significant positive influence on firm value. In addition, intellectual capital, profitability, and leverage have significant influence simultaneously on firm value. Keywords: firm value, intellectual capital, leverage, profitability

scholarly journals The Analysis of Fundamental Variables and Macro Economic Variables in Predicting Financial Distress

2020 ◽  
Vol 9 (1) ◽  
pp. 81-90
Author(s):  
Siti Nur Kholisoh ◽  
Rina Dwiarti
Keyword(s):  
Exchange Rate ◽  
Interest Rate ◽  
Financial Distress ◽  
Rate Sensitivity ◽  
Total Asset ◽  
Current Ratio ◽  
Return On Equity ◽  
Macroeconomic Variables ◽  
Turnover Ratio ◽  
Asset Turnover

Financial distress is a condition where the company is experiencing financial difficulties prior to bankruptcy. This study aims to identify and explain the influence of the fundamental variables and macroeconomic variables in predicting the probability of financial distress. Based on the eight variables used, current ratio, debt to assets ratio, return on equity and total asset turnover ratio is a fundamental variable. While the sensitivity of inflation, exchange rate sensitivity and interest rate sensitivity included in macroeconomic variables. The population in this study are all porperti and real estate company listed on the Stock Exchange in 2014-2018. The sample selection using purposive sampling technique, acquired 23 companies in the sample with the five companies in the category of financial distress and 18 companies in the category of non financial distress. The analytical method used is logistic regression and sensitivity analysis. The results showed that the variable current ratio, debt to assets ratio, total asset turnover ratio, inflation sesnitivity, exchange rate sensitivity and interest rate sensitivity did not significantly affect the probability of financial distress. While return on equity significantly negative influence on the company’s financial distress.

scholarly journals Pengaruh CR (Current Ratio), DER (Debt to Equity Ratio), EPS (Earning Per Share) dan Financial Distress (Altman Score) Terhadap Harga Saham Pada Perusahaan Sektor Industri Dasar dan Kimia Yang Terdaftar Di Bursa Efek Indonesia

Owner ◽  
2020 ◽  
Vol 4 (1) ◽  
pp. 1
Author(s):  
Jeanny Gunawan ◽  
Funny Funny ◽  
Cindy Marcella ◽  
Evelyn Evelyn ◽  
Jessy Safitri Sitorus
Keyword(s):  
Financial Distress ◽  
Current Ratio ◽  
Purposive Sampling ◽  
Equity Ratio

Tujuan dari penelitian ini agar dapat mengetahui analisis fundamental yang berpengaruh didalam harga saham. Variabel independen pada penelitian ini adalah current ratio, debt to equity ratio, earning per share dan financial distress (altman score), sedangkan variabel dependen pada penelitian ini adalah harga saham. Penelitian ini diambil dari perusahaan sektor industri dasar dan kimia yang terdaftar di BEI pada tahun 2013-2017. Populasi yang terdapat dalam sektor perusahaan tersebut adalah 69 perusahaan. Sampel yang diteliti adalah sebanyak 24 perusahaan yang diseleksi menggunakan teknik purposive sampling sehingga total sampel yang akan digunakan selama 5 tahun menjadi 120 sampel. Metode analisis yang digunakan adalah analisis regresi linier berganda dengan alat bantu SPSS 21. Hasil pengujian secara parsial menunjukkan bahwa current ratio berpengaruh negatif signifikan terhadap harga saham, debt to equity ratio tidak berpengaruh secara signifikan terhadap harga saham, earning per share dan financial distress (altman score) berpengaruh positif signifikan terhadap harga saham pada perusahaan sektor industri dasar dan kimia.

scholarly journals The Influence of Current Ratio, Debt to Equity Ratio, And Total Asset Turnover Ratio on Profitability of Transportation Companies Listed On the Indonesia Stock Exchange 2014-2018

2020 ◽  
Vol 3 (2) ◽  
pp. 81-93
Author(s):  
Talisa Qamara ◽  
Ani Wulandari ◽  
Agus Sukoco ◽  
Joko Suyono
Keyword(s):  
Sampling Method ◽  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Multiple Linear Regression Analysis ◽  
Total Asset ◽  
Current Ratio ◽  
Financial Reports ◽  
Turnover Ratio ◽  
Asset Turnover ◽  
Equity Ratio

This study aims to analyze whether there are simultaneous effects of Current Ratio, Debt to Equity Ratio, and Total Asset Turnover to Pofitability (Return On Asset) on Transportation Company Listed at Indonesia Stock Exchanged. This research use quantitative method. The population on this research is transportation companies listed at Indonesia Stock Exchange (IDX) and continuously published financial reports in 2014-2018. Based on the purposive sampling method, from 71 transportation companies globally converged into 10 transportation companies, so that the data obtained were 50 observation. The analytical method used is multiple linear regression analysis. The results of the study are Current Ratio and Debt to Equity Ratio does not partially affect ROA, while Total Asset Turnover has a partial effect on ROA. And the three independent variables (CR, DER and TATO) simultaneously influence the dependent variable, namely profitability (ROA)

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