Subprime Crisis – A Corporate Acquisition Opportunity?

Corporate acquisition can be considered as one of the best processes of corporate restructuring. This study is focused to evaluate the post-acquisition operating performance of listed Indian companies (acquirers) which have made acquisitions during subprime crisis period i.e. from FY 2007-08 to FY 2009-10. Paired sample t-test has been used on four operating performance indicators i.e. Return on Equity(ROE), Return on Assets (ROA), Operating Profit margin (OPM) and Operating Cash flow to Net Sales ratio (OCF/Net Sales) to check whether operating performance of acquirers has significantly improved post-acquisition. This study has revealed that there is no significant improvement in firms’ operating performance based on financial parameters i.e. Return on Equity (ROE), Return on Assets (ROA) and Operating Profit Margin (OPM), post corporate acquisitions made during subprime crisis period. The study finds that there was negative impact based on these parameters. Though Operating Cash Flow to Net Sales ratio has improved significantly for the companies which have made acquisition in FY 2007-08 and FY 2008-09 but similar findings could not be achieved for FY 2009-10. This study will find its significance in present scenario wherein corporate acquisitions are seen as the fastest way to achieve growth. Corporate world may derive its growth strategy from this study.

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ANALISIS KINERJA KEUANGAN SEBAGAI ALAT PREDIKSI KEBANGKRUTAN DENGAN MODEL DISKRIMINAN

JURNAL AKUNTANSI UNIVERSITAS JEMBER ◽

10.19184/jauj.v10i2.1253 ◽

2015 ◽

Vol 10 (2) ◽

pp. 97

Author(s):

Yulinartati Yulinartati

Keyword(s):

Discriminant Analysis ◽

Profit Margin ◽

Return On Assets ◽

Current Ratio ◽

Return On Equity ◽

Discriminant Model ◽

Operating Profit ◽

Net Profit ◽

Equity Ratio ◽

Turn Over

The purpose of this study was to determine whether the Current Ratio (CR), Debt Equity Ratio (DER), Total Assets Over Turen (TATO), net profit margin (NPM), Debt to Assets Ratio (DAR), Return on Assets (ROA) , Return on Equity (ROE), Gross Profit Margin (GPM), Operating Profit Margin (OPM) influential in distinguishing healthy firms and perusahaa bankruptcy discriminant model. Based on discriminant analysis of known groups of healthy companies and a group of companies that went bankrupt differ significantly, from 9 (nine) variables are in use only 4 (four) variable Current Ratio, Debt Equity Ratio, Net Profit Margin, and Gross Profit Margin is selected and able to differentiate healthy companies and companies go bankrupt, while the 5 (five) of the variables, Turn Over Total Assets, Debt to Assets Ratio, Return on Assets, Return on Assets, and Operating Profit Margin are not able to differentiate healthy and bankrupt companies. Keywords: Current Ratio ,Debt Equity Ratio, Total Assets Turen Over , Net profit Margin , Return on Assets, Return on Equity

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Interdependensi Strategi Pemasaran Terhadap Kinerja Perusahaan (Suatu Penelitian pada Perusahaan Asuransi Indonesia yang sudah Go Public)

Binus Business Review ◽

10.21512/bbr.v5i1.1192 ◽

2014 ◽

Vol 5 (1) ◽

pp. 18

Author(s):

Cecep Hidayat ◽

Iskandar Putong ◽

Rini Kurnia Sari

Keyword(s):

Organizational Performance ◽

Profit Margin ◽

Insurance Companies ◽

Return On Assets ◽

Public Insurance ◽

Return On Equity ◽

Operating Profit ◽

Net Profit ◽

Study Population ◽

Redundancy Index

This study aims to analyze the interdependence between the variables of marketing strategy and organizational performance of insurance companies using canonical correlation analysis with multiple multivariate analysis approach. The interdependent correlation value may explain the subgroup which the dominant variable affects other subgroups on the company based on the value of redundancy index. The study population was 9 go public insurance companies when the study was conducted in 2013. Given two exogenous variables, i.e. variables Effectiveness Strategy (STRAEFEK) and Efficiency Strategy (STRATEFIS). Endogenous variable is the Debt to Asset Ratio (DAR), Debt to Eqiity Ratio (DER), Return on Assets (ROA), Return on Equity (ROE), Operating Profit Margin (OPM) and Net Profit Margin (NPM).

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ANALISIS LAPORAN KEUANGAN SEBAGAI ALAT UNTUK MENGUKUR PENGARUH KEMAMPULABAAN TERHADAP PERTUMBUHAN PENJUALAN (Studi Kasus pada PT. Tjiwi Kimia dan PT. Indah Kiat Pulp & Paper Tbk.)

Jurnal Ilmiah Binaniaga ◽

10.33062/jib.v7i02.313 ◽

2019 ◽

Vol 7 (02) ◽

pp. 109

Author(s):

Rizki Ahmad Fauzi

Keyword(s):

Growth Rate ◽

Strong Relationship ◽

Profit Margin ◽

Positive Trend ◽

Sales Growth ◽

Return On Assets ◽

Growth Ratio ◽

Return On Equity ◽

Operating Profit ◽

Pulp Paper

Profitability is the ability to create profit in the company, the prifitability can kniw by anayzing elements such as analysis the Operating Profit Margin (OPM), Return On Assets (ROA) and Return On Equity (ROE). Sales growth is a trend or movement from the company activities from sale of each period. The purpose of this research is to determine: 1. To determine the influence sales growth through rasio analysis? 2. To determine a company’s financial condition through ratio analysis? 3. To determine the relationship between the ratio of sales growth and profitability ratio? Research conduction from 2003 to 2007, by taking sampled of two paper companies, namely : PT. Tjiwi Kimia Tbk, and PT. Indah Kiat Pulp & Paper Tbk Based on the results of data processing, it can be concluded that the PT. Tjiwi Kimia Tbk., in terms of sales growh ratio,PT. Tjiwi Kimia for 2003 to 2007 produced a positive trend ratio is an average of 8,42 percent. The profitability level of of PT. Tjiwi Kimia Tbk, for the year 2003 to 2007, which is seen from the company’s ability to produce the OPM (Operating Profit Margin) increased overall trend, an average of 17,9 percent, while the terms of return on equity fierm are able produces an average of 3,4 percent, and the ability in terms of return on assets decreased tendency of companies an average of 0,5 percent.Based on the correlation of the PT. Tjiwi kimia Tbk has a relationship to the operating profit margin (OPM) of 0,495 percent (positive, do not approach 1). This means that that the growth rate has a weak relationship to the operating profit marginWhile in PT. Indah Kiat Pulp & Paper Tbk, in terms of sales growth rate average of 8.94 percent, the level of profitability from 2003 to 2007, namely in terms of OPM (Operating Profit Margin) increased the overall trend is an average of 16 , 24 per cent, while for the ability in terms of ROE in the year is between 2003 to 2007 the overall trend of declining average of 0.61 percent, and for the profitability of companies in terms of ROA is also experiencing a declining trend that is an average of 1, 87 per cent. sales growth rate relationship with the operatingprofit margin (OPM) has a correlation of 0.637 percent (positive, approaching 1). This means that the growth rate has a strong relationship with the Operating Profit Margin The result ot the evalution in the study states that overall PT. Tjiwi Kimia Tbk hal a level of profitability that is better than PT. Indah Kiat Pulp & Paper Tbk, although the company has lost sales growth ratio of PT. Indah KiatKeyword: the ratio of sales growth, profitability

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ANALISIS PERBANDINGAN KINERJA KEUANGAN PERUSAHAAN SEBELUM DAN SESUDAH MERGER DAN AKUISISI PADA PERUSAHAAN YANG TERDAFTAR DI BEI

JMM UNRAM - MASTER OF MANAGEMENT JOURNAL ◽

10.29303/jmm.v5i2.80 ◽

2016 ◽

Vol 5 (2) ◽

Author(s):

Ayu Maulida

Keyword(s):

Mergers And Acquisitions ◽

Profit Margin ◽

Financial Ratios ◽

Return On Assets ◽

Return On Equity ◽

Operating Profit ◽

Fixed Assets ◽

Net Profit ◽

Before And After ◽

Equity Ratio

This study aimed to analyze the differences in financial performance before and after mergers and acquisitions based on financial ratios : Current Ratio (CR), Quick Ratio (QR), Debt to Assets Ratio (DAR), Debt to Equity Ratio (DER), Return On Assets (ROA), Return On Equity (ROE), Gross Profit Margin (GPM), Operating Profit Margin (OPM), Net Profit Margin (NPM), Fixed Assets Turnover (FATO), Total Assets Turnover (TATO), dan Earnings Per Share (EPS) at the companies listed on the Stock Exchange. This type of research is comparative , and sampling using purposive sampling. The type of data using quantitative data and data sources obtained from secondary data. The analysis technique used is the model for the Kolmogorov-Smirnov test for normality, and parametric test Paired Sample T Test to test hipoteisis. The results showed that there were significant differences between before and after mergers and acquisitions based on financial ratios Debt to Assets Ratio (DAR) in the comparative period of 2 years before and 2 years after puberty and acquisitions as well as comparison of 2 years before the 3 years after the mergers and acquisitions. The results also showed a significant difference based on financial ratios Debt to Equity Ratio (DER) at a ratio of 2-year period prior to 2 years after the mergers and acquisitions. While based on the ratio of Current Ratio (CR), Quick Ratio (QR), Return on Assets (ROA), Return on Equity (ROE), Gross Profit Margin (GPM), Operating Profit Margin (OPM), Net Profit Margin (NPM), fixed Assets Turnover (FATO), Total Assets Turnover (TATO), and Earnings Per Share (EPS), the results showed that there were no significant differences for all the study period.Keywords: Mergers and acquisitions, financial performance, quantitative, Paired Sample T Test

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Analisis Profitabilitas Pada PT Bank Negara Indonesia Tbk Cabang Manado

JURNAL ADMINISTRASI BISNIS ◽

10.35797/jab.9.1.2019.23530.43-48 ◽

2019 ◽

Vol 9 (1) ◽

pp. 43

Author(s):

Nathalia A. Chandra ◽

Joula J. Rogahang ◽

Dantje Keles

Keyword(s):

Research Method ◽

Profit Margin ◽

Financial Ratios ◽

Return On Assets ◽

Return On Equity ◽

Research Results ◽

Operating Profit ◽

Net Profit

The purpose of this research is to analyze the financial ratios in particular the profitability ratio of PT Bank Negara Indonesia Tbk. In the present era more and more companies are emerging and also the competition is so strict, therefore the company must Increase the profit that can be able to compete. The research method used is the ratio of profitability. The profitability ratio is a ratio used to measure the company's ability to generate profit at a certain level of sales, Aser, and stock Capital The research results show that profitability can be said to be good when Profit that can be held annually in the company is able to achieve the target of the company itself. And the results obtained from the research of each indicator for five years from year 2014-2018 is as follows. Gross Profit Margin in the year 2014 of 59%, 2015 of 45%, 2016 amounted to 48%, 2017 for 54%, and 2018 for 56%. Operating Profit Margin in the year 2014 of 59%, 2015 of 45%, 2016 amounted to 48%, 2017 for 54%, and 2018 for 55%. Net Profit Margin in the year 2014 of 48%, 2015 of 36%, 2016 amounted to 38%, 2017 for 43%, and 2018 for 42%. Return on Assets in 2014 amounted to 3%, 2015 by 2%, 2016 by 2%, 2017 by 2%, and 2018 by 2%. Return on Equity in 2014 amounted to 18%, 2015 by 12%, 2016 by 13%, 2017 by 14%, and 2018 by 14%. It can be seen from the presentation of the five indicators can be said to be good, although the presentation that can be in the company in 2015 was decreased, but the company was able to increase back in the following years. It means the company is able to minimize the profit gained according to expectations.

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RATIO ANALYSIS OF FINANCIAL PERFORMANCE OF COMPANIESL Q45 INDEX LISTED

Humanities & Social Sciences Reviews ◽

10.18510/hssr.2019.7361 ◽

2019 ◽

Vol 7 (3) ◽

pp. 419-423

Author(s):

Dian Wulan Sari

Keyword(s):

Financial Performance ◽

Sampling Technique ◽

Profit Margin ◽

Test Results ◽

Return On Assets ◽

Return On Equity ◽

Independent Variables ◽

Operating Profit ◽

Net Profit ◽

Regression Test

Purpose of Study: This study was conducted with the aim to examine the effect of CR, DAR, DER, ROE, GPM, OPM, and NPM simultaneously to financial performance (ROA) and the effect of CR, DAR, DER, ROE, GPM, OPM, and NPM partially toward financial performance (ROA). Methodology: The sample of companies used in this study as many as 16 companies from 45 companies listed in the LQ45 Index period 2012-2016 with Purposive Sampling Technique. The independent variables used are Current Ratio (CR), Debt to Assets Ratio (DAR), Return on Equity (ROE), Gross Profit Margin (GPM), Operating Profit Margin (OPM), and Net Profit Margin (NPM) while the dependent variable is Return on Assets (ROA) as an indicator of Financial Performance. The analysis used in this research is the Multiple Regression Analysis. Results: The results show that CR, DAR, DER, ROE, GPM, OPM, and NPM have an effect toward ROA; CR, DAR, DER have no significant partial effect on ROA; and ROE, GPM, OPM, NPM have a partially significant effect on ROA. Implications/Applications: Regression test results ROE, GPM, OPM, and NPM partially indicate that the independent variables studied have a significant influence on ROA.

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Pengaruh OPM, ROE dan ROA terhadap Perubahan Laba pada Perusahaan Lembaga Pembiayaan di Indonesia

Sosio e-kons ◽

10.30998/sosioekons.v9i1.1690 ◽

2017 ◽

Vol 9 (1) ◽

pp. 79

Author(s):

Surya Perdana ◽

Eni Hartanti

Keyword(s):

Time Series ◽

Cross Section ◽

Significant Influence ◽

Stock Exchange ◽

Secondary Data ◽

Profit Margin ◽

Return On Assets ◽

Return On Equity ◽

Section Data ◽

Operating Profit

ABSTRACTThe purpose of this study was to examine the effect of operating profit margin, return on equity and return on assets to changes in earnings in multi-finance companies in Indonesia Stock Exchange. This study is used a secondary data from financial statements on 12 multi-finance companies in Indonesia Stock Exchange from 2011 until 2015. This study uses panel data regression of a combined cross-section data and time series.The result of this study showed that operating profit margin, return on equity and return on assets simultaneously have a significant influence on changes in earnings. The result of F-test showed that the significant level is 0,00 < 0,05. The result of the t-test, operating profit margin (OPM) has a negative and no significant influence on changes in earnings. Return on equity (ROE) has a positive and significant influence on changes in earnings. Return on asset (ROA) has a positive and significant influence on changes in earnings.Keywords: Operating Profit Margin, , Return on Equity, Return on Asset, Changes EarningsABSTRAK Penelitian ini bertujuan untuk mengetahui pengaruh operating profit margin, return on equity dan return on assets terhadap perubahan laba pada perusahaan lembaga pembiayaan yang terdaftar di Bursa Efek Indonesia. Penelitian ini menggunakan data sekunder berupa data laporan keuangan 12 sampel perusahaan pembiayaan yang diperoleh dari Bursa Efek Indonesia periode 2011-2015. Penelitian ini menggunakan regresi data panel yaitu gabungan data cross section dan time series.Hasil penelitian menunjukkan bahwa operating profit margin (OPM), return on asset (ROA), dan return on equity (ROE) secara simultan memiliki pengaruh yang signifikan terhadap perubahan laba. Hasil uji F menghasilkan tingkat signifikansi 0,00 < 0,05. Hasil uji-t, operating profit margin (OPM) berpengaruh negatif dan tidak signifikan terhadap perubahan laba. Return on equity (ROE) berpengaruh positif dan signifikan terhadap perubahan laba. Return on asset (ROA) berpengaruh positif dan signifikan terhadap perubahan laba.Kata Kunci: Operating Profit Margin, , Return on Equity, Return on Asset, Perubahan laba

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Profitability and Consistency of Ceramics Industry- A Financial and Statistical Analysis on Selected Companies of Bangladesh

Journal of Business and Technology (Dhaka) ◽

10.3329/jbt.v9i2.26192 ◽

2015 ◽

Vol 9 (2) ◽

pp. 1-13

Author(s):

Abdul Latif ◽

Rezaul Kabir

Keyword(s):

Sales Management ◽

Secondary Data ◽

Profit Margin ◽

Annual Reports ◽

Return On Assets ◽

Return On Equity ◽

Operating Profit ◽

The Poor ◽

Net Profit ◽

Ceramics Industry

This paper examines the profitability and consistency of the second leading export oriented industry of Bangladesh. The secondary data of the five leading companies namely, Fu-Wang, Monno, Shinepukur, Standard and RAK Ceramics are collected from the annual reports of 2006-2012 from their websites. The collected data are processed and analyzed by SPSS 19 to make interpretations by ANOVA outputs. Different financial tools like Gross profit margin, Operating profit margin, Net profit margin, Return on assets, Return on equity are calculated along with the liquidity ratios and turnover ratios to find out the causes of unexpected results, if any. The researchers find that two of the five companies (Standard and Monno) are performing very poorly, one (Fu-Wang) is performing moderate level and other two (RAK and Shinepukur) are performing comparatively better. The asset and sales management of the poor performers are to be improved immediately, the liquidity position of all the companies is to be improved and the capital structure of Shinepukur is to be reconstructed.Journal of Business and Technology (Dhaka) Vol.9(2) 2014; 1-13

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THE EFFECT OF PROFITABILTY, DEBT POLICY AND FIRM SIZE ON COMPANY VALUE IN CONSUMER GOODS COMPANIES

Abstract Proceedings International Scholars Conference ◽

10.35974/isc.v7i1.1587 ◽

2019 ◽

Vol 7 (1) ◽

pp. 1217-1229

Author(s):

Adat Muli Peranginangin

Keyword(s):

Firm Size ◽

Consumer Goods ◽

Profit Margin ◽

Return On Assets ◽

Return On Equity ◽

Operating Profit ◽

Company Value ◽

Net Profit ◽

Equity Ratio ◽

Debt Policy

The objective of the research was to examine and analyze the influence of Profitability Ratio (Gross Profit Margin/GPM, Operating Profit Margin/OPM, Net Profit Margin/NPM, Return On Assets/ROA, Return On Equity/ROE), Debt Policy (Debt Equity Ratio/DER) and Firm size (Assets Size) on the Company Value (Price Earning Ratio/PER) in consumer goods companies listed in the Indonesia Stock Exchange. The research used causal research method and secondary data. The population was 47 consumer goods companies listed in the Indonesia Stock Exchange in the period of 2015-2017, and 23 of them were used as the samples, taken by purposive sampling technique. The data were analyzed by using multiple linear regression analysis. The result of the research showed that the Profitability Ratio (Gross Profit Margin/GPM, Operating Profit Margin/OPM, Net Profit Margin/NPM, Return On Assets/ROA, Return On Equity/ROE), Debt Policy ( Debt Equity Ratio/DER) and Firm size (Assets Size) influenced Company Value (Price Earning Ratio/PER). Partially Gross Profit Margin (GPM) and Firm Size (Assets Size) influenced and was significant to Company Value (Price Earning Ratio), while the Operating Profit Margin (OPM), Net Profit Margin(NPM), Return On Assets(ROA), Return On Equity(ROE) and Debt Policy (Debt Equity Ratio/DER) did not influence and was not significant on the company value (Price Earning Ratio ).

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The Effect Of Return On Assets, Return On Equity, Net Profit Margin, Earning Per Share, And Operating Profit Margin On Stock Prices Of Banking Companies In Indonesia Stock Exchange

International Journal of Finance Research ◽

10.47747/ijfr.v1i2.280 ◽

2021 ◽

Vol 1 (2) ◽

pp. 103-123

Author(s):

Choiriyah Choiriyah ◽

Fatimah Fatimah ◽

Sri Agustina ◽

Ulfa Ulfa

Keyword(s):

Stock Prices ◽

Stock Price ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Secondary Data ◽

Profit Margin ◽

Return On Assets ◽

Return On Equity ◽

Operating Profit ◽

Net Profit

This study aims to determine the effect of return on assets (ROA), return on equity (ROE), net profit margin (NPM), earning per share (EPS) and operating profit margin (OPM) on the stock prices of banking companies on the Indonesia Stock Exchange. This type of research is associative research. Secondary data in this study is in the form of banking financial statements. The total population used in this study were 32 banking companies, and the samples that met the research criteria were eight banking companies listed on BEI. The analytical model used in this study is multiple linear regression analysis. The analysis results show that ROA, ROE, NPM, EPS, and OPM together have a significant effect on the stock prices of banking companies on the Indonesia Stock Exchange (IDX). On the other hand, coefisiens of ROA, NPM and OPM have no significant effect on the Stock Price of banking companies on the Indonesia Stock Exchange (IDX). In contrast, ROE and EPS significantly affect the Stock Price of banking companies on the Indonesia Stock Exchange (IDX).

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