PENGARUH CASH HOLDING, PROFITABILITAS, DAN FINANCIAL LEVERAGE TERHADAP INCOME SMOOTHING PADA PERUSAHAAN MANUFAKTUR

The objectives of this study are examine whether manufacture companies sector basic industry and chemicals that is listed in Indonesia Exchange over periode 2013-2017 do earning management with income smoothing through manipulating the amount of loan loss provisions along with influenced factors. Dependent variable used in this study is income smoothing, independent variables used in this study is cash holding, profitabilitas (net profit margin), and financial leverage (debt to equity ratio). This research used purposive sampling and kuantitatif, in determining sampel selection. A total of 22 companies sampel from 66 companies population. Eckel’s coefficient was used as a tool to indentify income smoothing. Subsequently performed descriptive statistics and logistic regression analysis to test each hypothesis by used eviews 7.0. The results of this study found that cash holding had no effect to income smoothing, profitability proxied by net profit margin and financial leverage proxied by debt to equity ratio had effect to income smoothing. and Simultaneously the cash holding, profitability, financial leverage had significantly effect to income smoothing. Keywords: Income Smoothing, Cash Holding, Profitability, Financial Leverage. Keywords: Income Smoothing, Cash Holding, Profitability, Financial Leverage.

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The Effect of Current Ratio and Debt to Asset Ratio on Net Profit Margin and Stock Prices: A Study of Basic Industry and Chemicals Companies

International Journal of Scientific Research in Science and Technology ◽

10.32628/ijsrst207561 ◽

2020 ◽

pp. 282-294

Author(s):

Sudirman S ◽

Muhammad Wahyuddin Abdullah ◽

Muhammad Obie

Keyword(s):

Stock Prices ◽

Stock Exchange ◽

Secondary Data ◽

Profit Margin ◽

Current Ratio ◽

Industry Sector ◽

Basic Industry ◽

Net Profit ◽

Equity Ratio ◽

Index Value

This study examined the effect of current ratio and debt to asset ratio on net profit margin and stock prices of the sector basic industry and chemicals companies listed on the Indonesia Stock Exchange in the period 2015-2019. The object of research was the stock prices of companies in the Basic Industry and Chemicals sector, which have been published through the official website of the Indonesian capital market. It was used secondary data derived from the monthly statistics, including Current Ratio data, Net Profit Margin, Debt to Asset Ratio, and data on closing prices for the period 2015-2019. In analyzing data, it was used path analysis of secondary data obtained from the basic industry sector financial statements of 60 companies. The company's performance in this sector is considered quite good when seen from the movement of the index value in the last five years. The results show that direct current ratio had a positive and significant effect on the net profit margin, and the debt to equity ratio did not significantly influence the net profit margin. The current ratio has a positive and significant effect on stock prices, and the debt to equity ratio has a negative and not significant effect on stock prices. In contrast, the net profit margin has a significant effect on stock prices in the basic industry sector companies on the Indonesia Stock Exchange. Indirectly the current ratio has a positive and significant effect on stock prices. In contrast, the debt to asset ratio has a negative and not significant effect on the company's stock prices in the basic industry sector on the Indonesia Stock Exchange.

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PENGARUH FINANCIAL LEVERAGE, PROFITABILITAS, NET PROFIT MARGIN, DAN UKURAN PERUSAHAAN TERHADAP PRAKTIK PERATAAN LABA

AKUNTABILITAS ◽

10.29259/ja.v14i2.10982 ◽

2020 ◽

Vol 14 (2) ◽

pp. 225-242

Author(s):

Dhea Ramadani Mirwan ◽

Muhammad Nuryatno Amin

Keyword(s):

Logistic Regression ◽

Firm Size ◽

Stock Exchange ◽

Income Smoothing ◽

Profit Margin ◽

Manufacturing Companies ◽

Financial Leverage ◽

Positive Effects ◽

Net Profit ◽

Negative Effect

The aim of this research is to prove the effect of financial leverage, profitability, net profit margin and firm size to the income smoothing. Population of this research is manufacturing companies listed at the Indonesia Stock Exchange (BEI) for the period of 2016-2018 with sampling determined by purposive sampling. Data analyzed using logistic regression (binary logistic regresion). The results of this research showed that financial leverage and profitability have negative effect to income smoothing, and at the opposite net profit margin has positive effects to income smoothing. Whereas firm size has no effects to income smoothing

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ANALISIS PENGARUH CURRENT RATIO (CR), DEBT TO EQUITY RATIO (DER), NET PROFIT MARGIN (NPM), DAN FIRM SIZE TERHADAP EARNING PER SHARE (EPS) (Studi pada Perusahaan Sektor Industri Dasar dan Kimia yang tercatat di BEI Periode 2014-2018)

KEUNIS ◽

10.32497/keunis.v7i2.1589 ◽

2019 ◽

Vol 7 (2) ◽

pp. 106

Author(s):

Muhammad Subhan Nurul Umam ◽

Edi Wijayanto ◽

Mochammad Abdul Kodir

Keyword(s):

Linear Regression ◽

Multiple Linear Regression ◽

Firm Size ◽

Linear Regression Analysis ◽

Profit Margin ◽

Current Ratio ◽

Basic Industry ◽

Net Profit ◽

Equity Ratio ◽

Chemicals Sector

The purpose of this research is to analyze the effect and significancy of current ratio, debt to equity ratio, net profit margin, and firm size toward earning per share at Basic Industry And Chemicals Sector Companies during the period 2014-2018. The population and sample in this research is 7 companies at the Basic Industry And Chemicals Sector Companies which is chosen by proposive sampling. Analyze model used in this research is multiple linear regression dated panel analysis model operated by the software eviews 10.0. The result of the multiple linear regression analysis dated panel model shows that (1) The current ratio toward earning per share is not significant (2) The effect debt to equity ratio toward earning per share is not significant (3) The effect of net profit margin toward earning per share is significant (4) The effect of firm size toward earning per share is significant.

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PENGARUH RETURN ON ASSET, DEBT TO EQUITY RATIO, NET PROFIT MARGIN TERHADAP INCOME SMOOTHING DENGAN VARIABEL MODERASI PROPORSI WANITA DI DALAM DEWAN DIREKSI (STUDI KASUS PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA PADA TAHUN 2013-2015)

Managament Insight: Jurnal Ilmiah Manajemen ◽

10.33369/insight.12.2.89-100 ◽

2019 ◽

Vol 12 (2) ◽

pp. 89-100

Author(s):

Yolita Kurniawati ◽

Paulus Sulluk Kananlua ◽

Sugeng Susetyo

Keyword(s):

Regression Analysis ◽

Multiple Regression Analysis ◽

Board Of Directors ◽

Multiple Regression ◽

Stock Exchange ◽

Income Smoothing ◽

Profit Margin ◽

Net Profit ◽

The Board Of Directors ◽

Equity Ratio

This study aims to investigate the effect of: (1) Return on Asset (ROA), Debt to Equity Ratio (DER), Net Profit Margin (NPM), and the proportion of women in board of directors on income smoothing. (2) Further, this study also investigates the moderating effect of proportion of women in board of directors on effect of ROA, DER, and NPM to income smoothing. Data were collected from anufacture companies listed on the Indonesia Stock Exchange (IDX) in the year of 2013 -2015. Multiple regression analysis and moderated regression analysis were used to test the hypotesis in this study. The results of multiple regression analysis show that Return on Asset (ROA) and Debt to Equity Ratio (DER) influence the income smoothing. Meanwhile, Net Profit Margin (NPM) does not influence the income smoothing. The result of moderated regression analysis shows that the proportion of women does not moderate the effect of Return on Asset (ROA), Debt to Equity Ratio (DER), and Net Profit Margin (NPM) on income smoothing. Those could happen because very women are sit in the Board of Directors of the firms in Indonesia.Keywords: Income Smoothing, Return on Asset (ROA), Debt to Equity Ratio (DER), Net profit Margin (NPM).

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Analisis Faktor-faktor yang Mempengaruhi Return Saham pada Perusahaan Makanan dan Minuman (Food and Beverages) yang Terdaftar di Bursa Efek Indonesia (BEI) Tahun 2015 - 2018

Jurnal Manajemen Bisnis dan Kewirausahaan ◽

10.24912/jmbk.v5i1.10450 ◽

2021 ◽

Vol 5 (1) ◽

pp. 62

Author(s):

Junnei Liuspita ◽

Indra Widjaja

Keyword(s):

Stock Return ◽

Explanatory Power ◽

Profit Margin ◽

Linear Regression Method ◽

Return On Assets ◽

Return On Equity ◽

Independent Variables ◽

Net Profit ◽

Food And Beverage ◽

Equity Ratio

This research aims to find out the influence of Return on Assets (ROA), Return on Equity (ROE), Net Profit Margin (NPM), Debt to Equity Ratio (DER), Earning Per Share (EPS) on the stock return of food and beverage companies listed in the Indonesia Stock Exchange for the period 2015 to 2018. The research sample consists of 13 companies, that were selected by using a purposive technique sampling method for the period of 2015-2018. The method to analyse the research questions was by using the statistical method of multiple linear regression method. The result found that Return on Assets (ROA), Return on Equity (ROE) have significant influences on the stock return. Whilst aNet Profit Margin (NPM), Debt to Equity Ratio (DER), and Earning Per Share (EPS) partially don’t have significant influence. The coefficient determination of this model was found to be about only 28,17%. This suggests that the five independent variables underestimated have a lack of explanatory power of the stock return of food and beverage companies. Hence, further studies to seek other independent variables in the model are suggested to improve the model underestimated. Tujuan dari penelitian ini adalah untuk mengetahui pengaruh Return on Assets (ROA), Return on Equity (ROE), Net Profit Margin (NPM), Debt to Equity Ratio (DER), Earning Per Share (EPS) terhadap return saham perusahaan makanan dan minuman yang terdaftar di Bursa Efek Indonesia untuk periode 2015 hingga 2018. Sampel penelitian, terdiri dari 13 perusahaan, dipilih dengan menggunakan metode teknik purposive sampling dengan periode penelitian 2015-2019. Metode untuk menganalisis pertanyaan penelitian adalah dengan menggunakan metode statistik regresi linier berganda. Hasil penelitian menemukan bahwa, Return on Assets (ROA), Return on Equity (ROE), secara parsial berpengaruh signifikan terhadap return saham. Sementara Net Profit Margin (NPM), Debt to Equity Ratio (DER), Earning Per Share (EPS) secara parsial tidak memiliki pengaruh yang signifikan. Koefisien determinasi model ini hanya 28,17%. Ini menunjukkan bahwa kelima variabel independen tersebut memiliki kurangnya pengaruh terhadap harga saham perusahaan makanan dan minuman. Oleh karena itu, penelitian lebih lanjut untuk mencari variabel independen lain yang dapat meningkatkan pengaruh terhadap harga saham yang tidak diestimasi dalam model ini.

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KINERJA KEUANGAN DAN HARGA SAHAM

Jurnal Aplikasi Akuntansi ◽

10.29303/jaa.v1i2.3 ◽

2018 ◽

Vol 1 (2) ◽

pp. 75

Author(s):

Siti Atikah ◽

RR Sapto Hendri BS ◽

Intan Rakhmawati ◽

Wirawan Suhaedi ◽

Baiq Rosyida

Keyword(s):

Profit Margin ◽

Total Asset ◽

Financial Leverage ◽

Current Ratio ◽

Return On Equity ◽

Turnover Ratio ◽

Net Profit ◽

Asset Turnover ◽

Equity Ratio

Salah satu faktor yang menjadi bahan pertimbangan seorang investor atau calon investor saham dalam menentukan harga tawaran beli maupun tawaran jual adalah kinerja keuangan. Berbagai literatur menyatakan bahwa mahal atau murahnya harga saham ditunjukkan oleh kinerja keuangan. Penelitian ini bertujuan untuk menguji secara empiris arah atau hubungan kinerja keuangan dengan harga saham pada perusahaan sektor pertanian dan sektor pertambangan pada periode 2013 hingga 2015. Penelitian ini juga mengelompokkan kinerja keuangan berdasarkan harga saham yang kurang dari Rp 500 dan harga saham diatas Rp 500 Hasil analisis menunjukkan bahwa current ratio, debt to equity ratio, net profit margin, return on equity, earning per share, dan price earning rasio perusahaan sektor pertanian memiliki arah yang negatif terhadap harga saham, sedangkan arah positif ditunjukkan oleh asset turnover ratio, debt to total asset, financial leverage dan gross profit margin. Hasil yang berbeda terjadi pada harga saham perusahaan di sektor pertambangan. Aset turnover ratio, debt to total asset, financial leverage, gross profit margin dan price earning ratio perusahaan sektor pertambangan memiliki arah yang negatif terhadap harga saham.

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Pengaruh Asset Growth, Sales Growth, Net Profit Margin, Current Ratio dan Debt To Equity Ratio terhadap Dividend Payout Ratio pada Perusahaan yang Termasuk dalam Indeks Lq 45 Tahun 2013 – 2016

J-MAS (Jurnal Manajemen dan Sains) ◽

10.33087/jmas.v3i1.39 ◽

2018 ◽

Vol 3 (1) ◽

pp. 12

Author(s):

Mufidah Mufidah

Keyword(s):

Profit Margin ◽

Sales Growth ◽

Current Ratio ◽

Dividend Payout ◽

Independent Variables ◽

Net Profit ◽

Negative Effect ◽

Equity Ratio ◽

Asset Growth ◽

Positive Effect

This research aimed to examine theinfluence of Asset Growth, Sales Growth, Net Profit Margin , Current Ratio , debt to equity ratio on dividend payout ratio of the Company listed in indeks LQ 45 . The data used in this research is 16 companies for the period of 2013 – 2016 . The method of data analysis uses multiple linear regression. The result indicates that simultaneously the variable of Asset Growth, Sales Growth , Net Profit Margin, Current Ratio, debt to equity ratio significant affect divident payout ratio. These independent variables are able to explain the effect dividend payout ratio amount of 83,7 % while the remains 16,3 % is determined by other factors. Partially all of the variables affect dividend payout ratio except of the variable of net profit margin. Sales growth had positive effect on dividend payout ratio . Beside that aset growth, current ratio and debt to equity ratio have a negative effect on dividend payout ratio. Keywords: dividend payout ratio ,Sales Growth

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Analysis of Factors Affecting Income Smoothing Among Listed Companies in Indonesia

Jurnal Teknologi ◽

10.11113/jt.v64.2259 ◽

2013 ◽

Vol 64 (3) ◽

Author(s):

Erly Sherlita ◽

Putri Kurniawan

Keyword(s):

Logistic Regression ◽

Firm Size ◽

Binary Logistic Regression ◽

Income Smoothing ◽

Profit Margin ◽

Net Income ◽

Manufacturing Companies ◽

Financial Leverage ◽

Significant Difference ◽

Net Profit

This study examines the factors that influence income smoothing practice, such as firm size, profitability, financial leverage, and net profit margin. Grouping among the companies that perform income smoothing, and that does not do income smoothing using Eckel index to net income for the manufacturing companies listed on the Indonesian Stock Exchange. The research sample totaling 68 companies with a sub-sample of 204 financial reports. Observations were made during the three years, from 2008 to 2010. Statistical analysis using binary logistic regression to determine the factors that influence income smoothing. The results showed that the variables of profitability and net profit margins have significant differences between smoothing company profits by not smoothing profits, while the variable firm size and financial leverage has no significant difference. Test results using a multivariate binary logistic regression either simultaneously or separately on the four independent variables thought to affect the practice of income smoothing apparently no one has proved influential. Thus it can be concluded that firm size, profitability, financial leverage, and net profit margin has no effect on the practice of income smoothing.

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Pengaruh DER, TATO dan NPM Terhadap Kebijakan Dividen (Studi Kasus Pada Industri Dasar dan Kimia yang Terdaftar Di Bursa Efek Indonesia (BEI) Tahun 2012-2016)

JAAF (Journal of Applied Accounting and Finance) ◽

10.33021/jaaf.v3i1.679 ◽

2019 ◽

Vol 3 (1) ◽

pp. 71

Author(s):

Iwan Firdaus ◽

Putri Handayani

Keyword(s):

Sampling Method ◽

Stock Exchange ◽

Profit Margin ◽

Total Asset ◽

Dividend Payout ◽

Basic Industry ◽

Net Profit ◽

Asset Turnover ◽

Equity Ratio ◽

Independent Variable

This research was conducted to examine the effect of Debt to Equity Ratio (DER), Total asset turnover (TATO) dan Net profit margin (NPM) to Dividend Payout Ratio (DPR). The object for this research is basic industry and chamicals listed on the Indonesia Stock Exchange in the period 2012-2016. This research was conducted using quantitative menthod with total 10 sample of research were determined by saturated sampling. Method of hypothesis testing using t-test. This research use Debt to Equity Ratio (X1), Total asset turnover (X2), Net profit margin (X3) as independent variable and Dividend Payout Ratio as dependent variable. The results of this research is Total asset turnover (TATO) and Net profit margin (NPM) positive and has significant effect to Dividend Payout Ratio, while the DER negative and has no significant effect to Dividend Payout Ratio.

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PENGARUH KARAKTERISTIK PERUSAHAAN TERHADAP PERATAAN LABA DENGAN GOOD CORPORATE GOVERNANCE SEBAGAI VARIABEL MODERASI (Studi Empiris Pada Perusahaan Manufaktur yang Terdaftar Di Bursa Efek Indonesia)

Jurnal Magister Akuntansi Trisakti ◽

10.25105/jmat.v2i1.4942 ◽

2015 ◽

Vol 2 (1) ◽

pp. 73

Author(s):

Imas Gandasari ◽

Vinola Herawaty

Keyword(s):

Corporate Governance ◽

Stock Exchange ◽

Income Smoothing ◽

Profit Margin ◽

Firm Age ◽

Financial Leverage ◽

Return On Assets ◽

Dividend Payout ◽

Good Corporate Governance ◽

Net Profit

The purpose of this study was to examine the influence of return on assets, net profit margin, dividend payout ratio, financial leverage and firm age to income smoothing moderated good corporate governance as well as to test the size of the company that will control the income smoothing. This study used logistic regression test. Samples are companies listed on the Jakarta Stock Exchange by taking a sample of 174 firms from 2011-2013. Sampling is done by using purposive sampling method. Test the above hypothesis used SPSS 20. Based on the analysis it can be concluded that the dividend payout ratio negatively affect income smoothing, while the return on assets, net profit margin, financial leverage¸ firm age no significant effect on income smoothing. Good corporate governance can only moderate the effect of the dividend payout ratio to income smoothing. The size of the company as variable controls of an effect on income smoothing.

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