DETERMINAN METODE PEMBAYARAN AKUISISI DI INDONESIA: BUKTI EMPIRIS DI INDONESIA

This research purpose to examine what factor that determine method of payment acquisition in Indonesia. The period of sample during 2000-2017 and using multinomial logistic regression. There are 85 samples of transanctions (57 using cash payment, 18 using mix payment, and 10 using stock payment). Independent variables are market to book ratio, market capitalization, tobin’s Q, cash flow, and standard deviations of return. Acquirer Correlation as a control variable. This study find that market to book ratio has positive effect on stock and mix payment method than cash payment method at 10%. Tobin’s Q has positive effect on mix payment method than cash payment method at 10%.

Download Full-text

CSR, NILAI PERUSAHAAN DAN KINERJA KEUANGAN PERUSAHAAN PADA INDUSTRI PERTAMBANGAN DAN MANUFAKTUR DI INDONESIA

Media Riset Akuntansi Auditing & Informasi ◽

10.25105/mraai.v14i1.1754 ◽

2017 ◽

Vol 14 (1) ◽

pp. 89 ◽

Cited By ~ 1

Author(s):

Farah Margaretha ◽

Chandra Gunadi Witedjo

Keyword(s):

Control Variable ◽

Capital Budgeting ◽

T Test ◽

Tobin’S Q ◽

Analysis Model ◽

Tobin's Q ◽

Environmental Dimension ◽

Negative Effect ◽

The Impact ◽

Positive Effect

This study was done in order to determine the reversible effect from company CSR action on ROA and ROE, as well as to measure the company value using Tobin’s Q, size and leverage also used as control variable. In order to test the impact of the variables described above, 28 samples of mining and manufacturing company listed in BEI during two periods are used, which is for three years long, 2009-2010. Analysis model of the data used is the classical assumption, multiple regression and t test. Based on t test result CSR has no effect on Tobin’s Q. CSR is also found to have no relation to ROA and ROE, except for environmental dimension for which negative effect was found to ROE. The last finding of this study was ROA has a positive effect on environmental and labor disclosure of CSR, and no effect was found on the community dimension. ROE subsequently found to have a positive effect on the labor and community disclosure, while no effect was found on environmental dimension of CSR. As for that result it is recommended for companies to put CSR as an investment that should be considered in the process of capital budgeting, as CSR is a huge investment and still not being considered by investors and public. Keywords : Corporate Social Responsibility (CSR), Corporate Financial Performance (CFP), Size, Leverage, ROA, ROE, Tobin’s Q,

Download Full-text

Analysis of Financial Ratios for Predicting Bankruptcy in SMEs Listed on PEFINDO25

Journal of Management and Business ◽

10.24123/jmb.v19i2.466 ◽

2020 ◽

Vol 19 (2) ◽

Author(s):

Vitalia Fina Carla Rettobjaan

Keyword(s):

Logistic Regression ◽

Data Analysis ◽

Activity Ratio ◽

Significant Positive Effect ◽

Debt Structure ◽

Financial Ratio ◽

Independent Variables ◽

Negative Effect ◽

And Control ◽

Positive Effect

This study aims to analyze the Financial Ratio for Predicting Bankruptcy. The sample used in this study are SMEs according PEFINDO25 period 2013 to 2017. The independent variables in this study is liquidity, profitability, debt structure, solvency and activity ratio; and control variables is size and age, as well as the dependent variable is bankruptcy. The amount of sample in this study 32 companies PEFINDO25 by using purposive sampling. The method of data analysis is done by using logistic regression with SPSS version 23. The result of this research showed that liquidity, profitability and age has significant negative effect on bankruptcy. Debt structure has significant positive effect on bankruptcy. While solvency, activity ratio and size does not significantly effect on bankruptcy

Download Full-text

TRADEMARK ACTIVITY AND THE MARKET PERFORMANCE OF U.S. COMMERCIAL BANKS

Journal of Business Economics and Management ◽

10.3846/16111699.2011.643447 ◽

2012 ◽

Vol 13 (5) ◽

pp. 931-950 ◽

Cited By ~ 5

Author(s):

Carlos González-Pedraz ◽

Sergio Mayordomo

Keyword(s):

Commercial Banks ◽

Negative Impact ◽

Abnormal Returns ◽

Market Value ◽

Tobin’S Q ◽

Tobin's Q ◽

Cumulative Abnormal Returns ◽

And Performance ◽

Positive Effect

This empirical paper analyzes the effect of trademark activity on the market value and performance of US commercial banks from two perspectives. First, a longterm perspective considers the effect of such activity on banks’ Tobin's q. Second, with a short-term perspective, the authors analyze the effect of trademark activity on banks’ abnormal returns. An older portfolio of trademarks diminishes the ratio of market value to firm assets, but this ratio can be improved in the long term by abandoning old trade-marks. Portfolios of trademarks with wide diversification do not help increase Tobin's q. Furthermore, according to an event study, the creation of a trademark has a positive effect on cumulative abnormal returns compared with no event, whereas a cancellation event has a negative impact.

Download Full-text

Pengaruh Mekanisme GCG Dan CSR Terhadap Kinerja Keuangan Yang Dimediasi Manajemen Laba

Jurnal Manajerial Dan Kewirausahaan ◽

10.24912/jmk.v3i1.11284 ◽

2021 ◽

Vol 3 (1) ◽

pp. 24

Author(s):

Renaldy Alviansyah ◽

I Gede Adiputra

Keyword(s):

Corporate Social Responsibility ◽

Social Responsibility ◽

Earnings Management ◽

Tobin’S Q ◽

Significant Positive Effect ◽

Tobin's Q ◽

Significant Negative Effect ◽

Negative Effect ◽

Corporate Social ◽

Positive Effect

This study examines the impact of corporate governance mechanism and corporate social responsibility to financial performance. This study consists of four independent variables, one mediating variable, and three dependent variables, namely the proportion of independent board of commissioners, institutional ownership, audit committee, and corporate social responsibility as an independent variabel, earnings management as a mediating variable, and ROA, EPS, and Tobin;s Q as the dependent variable. The research method used is descriptive method with a qualitative approach. The sample in this study are 19 manufacturing company which listed on the Indonesia Stock Exchange from 2017 until 2019 who selected through purposive sampling method. The result of this study are the proportion of independent board of commissioners and institutional ownership not significant negative effect on earnings management, the audit committee has a significant positive effect on earnings management, corporate social responsibility has no significant positive effect on earnings management, corporate governance mechanisms do not have a significant negative effect on ROA, the proportion of independent commissioners and institutional ownership did not have a significant negative effect on EPS, the audit committee did not have a significant positive effect on EPS, corporate governance mechanisms did not have a significant positive effect on Tobin's Q, corporate social responsibility did not have a significant negative effect on financial performance, earnings management does not have a significant negative effect on ROA, earnings management has a significant negative effect on Tobin's Q, earnings management does not have a significant positive effect mut on EPS, governance mechanisms per business have a positive effect on ROA and EPS mediated by earnings management, corporate governance mechanisms negatively affect Tobin's Q mediated by earnings management, and corporate social responsibility has a positive effect on mediated financial performance by earnings management.Penelitian ini bertujuan untuk menganalisis pengaruh Mekanisme Tata Kelola Perusahaan dan Tanggung Jawab Sosial Perusahaan terhadap Kinerja Perusahaan. Penelitian ini terdiri dari empat variabel independen, satu variabel mediasi, dan tiga variabel dependen, yaitu proporsi dewan komisaris independen, kepemilikan institusional, komite audit, dan tanggung jawab sosial perusahaan sebagai variabel independen, manajemen laba sebagai variabel mediasi, dan ROA, EPS, dan Tobin’s Q sebagai variabel dependen. Metode riset yang digunakan adalah metode deskriptif dengan pendekatan kualitatif. Sampel dari penelitian ini adalah 19 perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia dari 2017 sampai 2019 yang ditentukan menggunakan metode purposive sampling. Hasil dari penelitian ini adalah proporsi dewan komisaris independen dan kepemilikan institusional berpengaruh negatif tidak signifikan terhadap manajemen laba, komite audit berpengaruh positif signifikan terhadap manajemen laba, tanggung jawab sosial perusahaan berpengaruh positif tidak signifikan terhadap manajemen laba, Mekanisme tata kelola perusahaan berpengaruh negatif tidak signifikan terhadap ROA, proporsi dewan komisaris independen dan kepemilikan institusional berpengaruh negatif tidak signifikan terhadap EPS, komite audit berpengaruh positif tidak signifikan terhadap EPS, mekanisme tata kelola perusahaan berpengaruh positif tidak signifikan terhadap Tobin’s Q, tanggung jawab sosial perusahaan berpengaruh negatif tidak signifikan terhadap kinerja keuangan, manajemen laba berpengaruh negatif tidak signifikan terhadap ROA, manajemen laba berpengaruh negatif signifikan terhadap Tobin’s Q, manajemen laba berpengaruh positif tidak signifikan terhadap EPS, mekanisme tata kelola perusahaan berpengaruh positif terhadap ROA dan EPS dimediasi oleh manajemen laba, mekanisme tata kelola perusahaan berpengaruh negatif terhadap Tobin’s Q dimediasi oleh manajemen laba, dan tanggung jawab sosial perusahaan berpengaruh positif terhadap kinerja keuangan dimediasi oleh manajemen laba.

Download Full-text

DETERMINING THE FINANCIAL PERFORMANCE OF MALAYSIAN GREEN TECHNOLOGY COMPANIES USING TOBIN’S Q

Malaysian Management Journal ◽

10.32890/mmj2021.25.9 ◽

2021 ◽

Vol 25 ◽

pp. 213-234

Author(s):

Noor Sharida Badri Shah ◽

Noor Hafizha Muhamad Yusuf ◽

Rozihanim Shekh Zain ◽

Sofia Alia Rosli ◽

Mohd Eddi Akmar Azman

Keyword(s):

Financial Performance ◽

Firm Size ◽

Global Market ◽

Green Technology ◽

Tobin’S Q ◽

Energy Productivity ◽

Tobin's Q ◽

Independent Variables ◽

Carbon Productivity

Massive technology, business pressure and the growth of global market penetration have led to most businesses becoming more environmentally friendly. The issue of climate change, waste management, air pollution and water pollution have all challenged the practice of business ethics, notwithstanding the ever-present pressure for companies to be more competitive in the marketplace. To be more financially sustainable, most of the businesses are forced to keep the balance between resources available and future sustainability in the long-term period. To ensure the success of sustainability, green technology is one of the most important initiatives to motivate companies to become more financially sustainable in the future. Thus, the purpose of this study is to examine the factors that have influenced the financial performance of Malaysian green technology companies using Tobin's Q. The dependent variable is Tobin’s Q which represents the firm’s market value, while independent variables are measured by carbon productivity, waste productivity, energy productivity, growth and firm size. The data for the study came from 10 selected green technology companies listed in the Bursa Malaysia and were the top-ranked eco-friendly companies in Malaysia. The findings indicate that all independent variables (growth, carbon productivity, waste productivity and energy productivity) were significant, but firm size was not significant. The findings imply that by adapting to the use of green technology, companies benefited a lot in terms of minimizing cost, sustaining a healthy environment, as well as helping companies to become sustainable in the long term.

Download Full-text

THE INFLUENCE OF DIVIDEND POLICY, DEBT POLICY, INDEPENDENT COMMISSIONER, AND INSTITUTIONAL OWNERSHIP ON THE FIRM VALUE WITH GROWTH OPPORTUNITIES AS MODERATOR VARIABLES (Study on Non-Financial Companies Listed on IDX in the Period of Years of 2012-2015)

JURNAL BISNIS STRATEGI ◽

10.14710/jbs.26.2.146-162 ◽

2018 ◽

Vol 26 (2) ◽

pp. 146 ◽

Cited By ~ 1

Author(s):

Lia Setiyawati ◽

Sugeng Wahyudi ◽

Wisnu Mawardi

Keyword(s):

Firm Value ◽

Stock Exchange ◽

Control Variable ◽

Market Value ◽

Sampling Technique ◽

Institutional Ownership ◽

Good Growth ◽

Tobin’S Q ◽

Manufacturing Companies ◽

Tobin's Q

Tobin's q is the ratio of market value of equity plus the market value of debt to total assets. This ratio measures the value provided by financial markets for any management and organization as a growing company. Tobin's q also shows how far a company is able to create its value relative to the amount of capital invested. The greater the value of Tobin's q indicates that the company has good growth prospect. This study aimed at examining the influence of Dividend Payout Ratio (DER), Independent Commissioner (KI) and Institutional Ownership (INST) on Tobin's q with Size and Return on Investment (ROI) as control variable and Market to Book Value (MBV) as a moderating variable.The population in this study is all manufacturing companies listed on Indonesia Stock Exchange in the period of 2012-2015. The sampling technique used purposive sampling and obtained 28 companies becoming the research sample. The analysis technique used in this research was multiple regression analysis using SPSS where the data, previously, had been tested using classical assumption tests like normality, multicollinearity, and autocorrelation tests.

Download Full-text

Analisis Faktor Pengendali Konflik Keagenan Terhadap Nilai Perusahaan Dengan Kebijakan Dividen Sebagai Variabel Moderasi

Jurnal Manajemen ◽

10.24912/jm.v22i2.355 ◽

2018 ◽

Vol 22 (2) ◽

pp. 139

Author(s):

Rita Amelinda

Keyword(s):

Cash Flow ◽

Dividend Policy ◽

Stock Exchange ◽

Listed Company ◽

Free Cash Flow ◽

The Other ◽

Tobin’S Q ◽

Flow Ratio ◽

Tobin's Q ◽

Independent Variables

The purpose of this research is to measure the influence between agency conflict’s factors to the value of the firm with dividend policy as the moderating variable. Some of variables which are used in this research such as Free Cash Flow Ratio, Leverage, Return on Asset, GCG’s Implementation (CGPI), Dividend Policy, danValue of The Firm (Tobin’s Q). This research sample consisted of 126 observations which are the listed company in Indonesia Stock Exchange (IDX) during 2008-2014 period and they also are the company with the best GCG index. The results showed thatFree Cash Flow Ratio, Leverage, Return on Asset, GCG’s Implementation (CGPI), Dividend Policy have significant effect simultaneously on Value of The Firm (Tobin’s Q). While in partial, only GCG’s Implementation (CGPI) which doesn’t has significant effect onValue of The Firm (Tobin’s Q). On the other hand, dividend policy significantly moderated the influence of the other 4 independent variables to the value of the firm.

Download Full-text

Comparison Study of Logistic Regression Model for Albanian Texts

JOURNAL OF ADVANCES IN MATHEMATICS ◽

10.24297/jam.v12i9.127 ◽

2016 ◽

Vol 12 (9) ◽

pp. 6572-6575

Author(s):

Denisa Salillari ◽

Luela Prifti

Keyword(s):

Logistic Regression ◽

Regression Model ◽

Logistic Regression Model ◽

Multinomial Logistic Regression ◽

Classification Problem ◽

Comparison Study ◽

Multinomial Logistic Regression Model ◽

Independent Variables ◽

Predicted Probability ◽

The Right

Considering authorship attribution as a classification problem we attempt to estimate the probability to find the right author for each text under study. In this paper using R we first improve the simple model for six Albanian texts, (I) increasing number of texts and number of independent variables and then compare the results taken with them of the multinomial logistic regression (II). The model was applied on a set of one hundred texts of ten different authors. For all the authors under study the average correct predicted probability is 0.918. Analyzing data from different Albanian texts, results that about 40% of their letters consist of vowels. As conclusion comparing results taken with them of (II) multinomial logistic regression model for Albanian texts has more advantages than logistic regression model.

Download Full-text

Pengaruh Informasi Akuntansi terhadap Harga Saham serta Dampaknya terhadap PBV pada Subsektor Farmasi yang Terdaftar di BEI

Jesya (Jurnal Ekonomi & Ekonomi Syariah) ◽

10.36778/jesya.v3i2.226 ◽

2020 ◽

Vol 3 (2) ◽

pp. 426-435

Author(s):

Nelly Ervina ◽

Acai Sudirman ◽

Herry Pandapotan Silitonga

Keyword(s):

Firm Size ◽

Stock Exchange ◽

Hypothesis Test ◽

Strong Relationship ◽

Tobin’S Q ◽

Tobin's Q ◽

Relationship Of ◽

The Relationship ◽

Regression Tests ◽

Positive Effect

This study aims to look at the effect of firm size and DER on Tobin's Q and ROE's ability to moderate the relationship of firm size and DER with Tobin's Q in the cable sub-sectors listed on the Indonesia Stock Exchange in the 2014-2018 period. The research sample is cable sub-sector companies listed on the Stock Exchange in the 2014-2018 period. Data analysis techniques using multiple regression tests, moderation regression tests, hypothesis testing (f test and t test) and MRA test. The results of this study indicate the test of multiple linear regression that is confirm size and DER has a positive effect on Tobin's Q. Moderated regression test with interaction test that is ROE strengthens firm-sized and DER relationships with Tobin's Q. Test R and R2 namely there is a strong relationship between firm size and DER variables with Tobin's Q variable Tests that firm size and DER have a significant effect on Tobin's Q. The second hypothesis test, ROE is able to moderate but not significantly relationship firm size and DER with Tobin's Q

Download Full-text

The Impact of CCC and WC on The Profitability of KMI-30 Index

IBT Journal of Business Studies ◽

10.46745/ilma.jbs.2019.15.01.07 ◽

2019 ◽

Vol 15 (1) ◽

pp. 84-94

Author(s):

Samina Riaz ◽

Keyword(s):

Research Data ◽

Annual Reports ◽

Significant Variable ◽

Tobin’S Q ◽

Minimum Level ◽

Tobin's Q ◽

Independent Variables ◽

Cash Conversion Cycle ◽

Dependent Variables ◽

The Impact

This research purpose is to investigate the impact of WC and CCC on prosperity of the companies, listed in KMI-30 Index. For this research data was gathered from firm’s annual reports. Data of 30companies listed in KMI-30 Index was collected over the period of 2010 till 2014. Data was collected to check significance of ROE, Tobin’s Q, and ROA. To analyze these variables regression analysis was used to measure the impact on dependent variable through independent variables. The study concluded that cash conversion cycle and debt to assets ratio were most significant variable on the dependent variables i.e. ROA, Tobin’s Q and ROE. It was recommended to the companies of listed in the KMI-30 to maintain the CCC at their minimum level or in lines with the industry norms, so they can avoid the liquidity problem along with the reduce the shortfall of cash requirement which were needed to smoothly run the operations of the companies.

Download Full-text