scholarly journals Capital Policy on Firm's Profitability: A Case of the Thai Agro and Food Industry

2018 ◽  
Vol 3 (4) ◽  
pp. 131-138
Author(s):  
Sareeya WICHITSATHIAN
Keyword(s):  
Capital Investment ◽  
Food Industry ◽  
Stock Exchange ◽  
Secondary Data ◽  
Jel Classification ◽  
Investment Policy ◽  
Working Capital ◽  
Financing Policy ◽  
Aggressive Approach ◽  
Capital Financing

Objective - The objectives of this research include: (1) to identify working capital investment policy and working capital financing policy, (2) to study the effect of working capital investment policy on profitability, and (3) to study the effect of working capital financing policy on profitability. Methodology/Technique - 41 firms in the agro-food industry listed on the Stock Exchange of Thailand are examined in this study. Secondary data was collected and analyzed within a 5-year period between 2013-2017. Findings - The results show that the most frequently employed working capital investment policy is the aggressive approach (46.30%), and the most frequently employed financial policy is the moderate approach (82.90%). According to the inferential statistics, it is concluded that: (1) profitability is significantly affected by the choice of working capital investment policy and a moderate investment policy results in the greatest profitability, and (2) profitability is not affected by the choice of working capital financing policy. Novelty - As a result, firms should focus on the selection of a moderate working capital investment policy when seeking to maximize profits. On the other hand, any type of working capital financing policy (aggressive, conservative, or moderate approach) is appropriate. Type of Paper Empirical Keywords: Working Capital Policy; Profitability; Agro and Food Industry; Thailand. JEL Classification: M10, M40, M41.

scholarly journals Working Capital Strategy and Operation Risk in the Food and Beverage Companies Listed in the Indonesia Stock Exchange

2020 ◽  
Vol 1 (1) ◽  
pp. 1-14
Author(s):  
Junaidi Junaidi
Keyword(s):  
Capital Investment ◽  
Stock Exchange ◽  
Operational Risk ◽  
Investment Strategy ◽  
Least Square ◽  
Debt Ratio ◽  
Working Capital ◽  
Current Ratio ◽  
Capital Financing ◽  
Positive Effect

The purpose of this study is to investigate the effect of working capital investment and working capital financing on the operational risk of nine listed firms in the agricultural sector of the Indonesian Stock Exchange. The time period used is 12 years from 2008 - 2019. The operational risk variable is the deviation absolute value of ROA, ROE, Sales and Cost of Goods Sold. The independent variable is the working capital investment strategy (WCIS) and Working Capital Financing Policy (WCFS). For control variables using debt ratio, size, age and current ratio variables. The analysis technique used is Ordinary Least Square (OLS) regression. The results obtained by shows that (1) WCIP have a negative and significant impact on the risk of ROA and ROE, (2) WCIP has a positive and significant effect on the risk of sales and CGS, (3) WCFP has a positive and significant impact on the risk of ROA and ROE, however, (4) WCFP has a negative and significant effect on the risk of sales and CGS. Debt ratio only has a positive effect on ROE risk. Company asset size has a positive and significant effect on Sales and CGS. Company age has a positive and significant effect on ROE risk. The current ratio variable has a positive effect on ROE risk and has a negative effect on the risk of sales and CGS.

scholarly journals Pengaruh Leverage, Likuditas, Perputaran Modal Kerja dan Inflasi Terhadap Profitabilitas pada Perusahaan Kelapa Sawit yang Terdaftar di Bursa Efek Indonesia Periode 2015-2018

2021 ◽  
Vol 9 (1) ◽  
pp. 17
Author(s):  
Christine Refina Malinda Pande ◽  
Deannes Isynuwardhana
Keyword(s):  
Oil Palm ◽  
Stock Exchange ◽  
Panel Data Analysis ◽  
Secondary Data ◽  
Working Capital ◽  
Financial Report ◽  
Financial Condition ◽  
Secondary Data Source ◽  
Data Source ◽  
Positive Effect

ABSTRACTOil palm companies are one of the sectors that have an impact on the economy. Indonesia has a climate that is very suitable for planting oil palm. The company's goal is to make a profit. Then the company will improve its financial performance in order to achieve its goals. Basically, the goal of the company is to be able to increase the company's profitability. The company's profitability will reflect a company's financial condition, and illustrate the effectiveness and efficiency of the company in managing its operations. The purpose of this study is to determine the significant effect of leverage, liquidity, working capital turnover, and inflation that affect the profitability of oil palm companies listed on the Indonesia Stock Exchange in the 2015-2018 period with a large sample of 11 companies. The results of the study with panel data analysis using the E-views 9 application. The data collection method used a secondary data source in the form of an annual financial report document. Based on the research results, it is found that simultaneously leverage, liquidity, working capital turnover, inflation have an effect on profitability. Partially leverage, liquidity has a positive effect on profitability, and working capital turnover, inflation has no effect on profitability.

scholarly journals Pengaruh Capital TurnOver, Return on Equity, dan Firm Size terhadap Price Book Value

2019 ◽  
Vol 2 (2) ◽  
pp. 52-70
Author(s):  
Aemelia Angesti ◽  
Fernaldy Fernaldy ◽  
Maisarah Maisarah ◽  
Erica Erica ◽  
Desy Anwar ◽  
...  
Keyword(s):  
Firm Size ◽  
Sampling Method ◽  
Activity Ratio ◽  
Stock Exchange ◽  
Secondary Data ◽  
Manufacturing Companies ◽  
Working Capital ◽  
Return On Equity ◽  
Book Value ◽  
Data Validity

This study’s main objective is to examine the effect of working capital turnover, return on equity, and firm size toward price book value in the manufacturing companies listed on the Indonesian Stock Exchange in 2013-2016. Working capital turnover is the proxy chosen from activity ratio. Return on equity is the proxy chosen from probability ratio. Firm size is based on total assets, with the nominal itself is in natural logarithms. Sample of research was determined by purposive sampling method to obtain 58 manufacturing companies listed on the Indonesia Stock Exchange (BEI) in the years 2013-2016. This study uses secondary data. Validity test of this study is done with multiple regression analysis and classic assumption test. The results of this study indicates that there is significant influence between the variables Working Capital Turnover, Return on Equity, and Firm Size toward Price Book Value.

scholarly journals The Impact of Bankruptcy Prediction, Company’s Financial Condition, Previous Year Audit Opinion, Firm Size and Audit Tenure Towards Auditor’s Going Concern Opinion

2016 ◽  
Vol 1 (1) ◽  
pp. 51-58
Author(s):  
Lisa Cellica ◽  
Ratnawati Kurnia
Keyword(s):  
Firm Size ◽  
Stock Exchange ◽  
Secondary Data ◽  
Jel Classification ◽  
Bankruptcy Prediction ◽  
Audit Opinion ◽  
Going Concern ◽  
Financial Condition ◽  
Going Concern Opinion ◽  
The Impact

Objective – The auditor is responsible for obtaining sufficient audit evidence about the accuracy and proper use of the going concern assumption from the company’s management through its financial statements. These evidence are used for the purpose of deciding whether there are material uncertainties about the entity's ability to maintain the continuity of its business. Thus, the objective of this paper is to examine the impact of bankruptcy prediction, company’s financial condition, previous year audit opinion, firm size and audit tenure towards Auditor’s going concern opinion. Methodology/Technique – The object of this paper is the service companies listed on the Indonesia Stock Exchange for the period of 2011-2014. This paper uses secondary data and samples taken were determined based on the purposive sampling method. The regression logistic is used to analyse data. Findings – The results of this research show that bankruptcy prediction, company’s financial condition, previous year audit opinion, firm size, and audit tenure all simultaneously, have a significant impact towards Auditor’s going concern opinion, particularly Previous Year Audit Opinion. Novelty – This paper provides insights into the factors affecting auditors in providing a going concern opinion in the case of Indonesian companies. Type of Paper: Empirical Keywords: Bankruptcy Prediction; Company’s Financial Condition; Previous Year Audit Opinion, Firm Size; Audit Tenure; Auditor’s Going Concern Opinion. JEL Classification: D81, M42.

scholarly journals The Role Of Cash Holdings, Working Capital, Dividend Payout On Capital Investment

2018 ◽  
Vol 34 (3) ◽  
pp. 419-426
Author(s):  
Andrew Chan
Keyword(s):  
Cash Flow ◽  
Firm Value ◽  
Capital Investment ◽  
Stock Exchange ◽  
Cash Holdings ◽  
Payout Policy ◽  
Working Capital ◽  
Dividend Payout ◽  
Investment Spending ◽  
The Relationship

An objective of this paper is to investigate the relationship between firms' capital investment spending, cash holdings, and working capital in an expanding Asian financial market.  A sample of publicly traded manufacturing firms on the Hong Kong Stock Exchange was examined during the period 2005-2014. The empirical results provide strong and statistically significant evidence on the effect of cash flow on investment.  Working capital also exhibits significant relationship with capital investment spending, though the relationship is not as strong and significant as that with cash flow and cash holding.  Firms with low dividend payout policy over the sample period depended heavily on cash flow, changes in cash flow and, to a lesser extent, on working capital to finance spending on fixed plant and equipment.  These results suggest that the effect of capital investment spending financed by internal cash flow on firm value may depend on a firm's dividend payout.

scholarly journals Analisis Pengaruh Efisiensi dan Efektivitas Penggunaan Modal Kerja Perusahaan terhadap Peningkatan Profitabilitas Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia (BEI)

2020 ◽  
Vol 5 (01) ◽  
pp. 22-35
Author(s):  
Dasep Suryanto
Keyword(s):  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Secondary Data ◽  
Multiple Linear Regression Analysis ◽  
Financial Statement ◽  
Manufacturing Companies ◽  
Working Capital ◽  
Efficiency And Effectiveness ◽  
Secondary Data Sources ◽  
Positive Effect

Analysis of the Effect of Efficiency and Effectiveness of Working Capital Use on Increasing the Profitability of Manufacturing Companies Listed on the IDX, with a supervisor Mr. Adriansyah, SE., M.Sc. The object of this study is 46 manufacturing companies listed on the Indonesia Stock Exchange. The data collection method uses the documentation method with secondary data sources in the form of company financial statement data for 5 years, from 2013 to 2017. The analytical method used is quantitative analysis, which uses multiple linear regression analysis and uses the tools of the computer statistical product program and Service Solutions (SPSS) version 20. From this study it can be seen that the efficiency and effectiveness of working capital have a significant positive effect on increasing profitability (ROI) of manufacturing companies listed on the Indonesia Stock Exchange (IDX).

scholarly journals Analisis Faktor-Faktor yang Mempengaruhi Nilai Perusahaan dengan Kualitas Laba sebagai Moderasi

2019 ◽  
Vol 6 (02) ◽  
pp. 23-30
Author(s):  
Wasininingsih ◽  
JMV Mulyadi
Keyword(s):  
Real Estate ◽  
Ownership Structure ◽  
Analytical Method ◽  
Firm Value ◽  
Stock Exchange ◽  
Earnings Quality ◽  
Secondary Data ◽  
Jel Classification ◽  
Exchange Data

ABSTRACT  This study aims to determine the effect of profitability, liquidity, leverage, ownership structure on firm value with earnings quality as moderation in Real Estate companies. Object of research of Real Estate companies listed on the Indonesia Stock Exchange in the 2014-2018 period. The samples in this study were 28 Real Estate companies on the Indonesia Stock Exchange. Data used secondary data. The analytical method used in this study is PLS-SEM with WarpPLS 5.0. the results showed profitability, liquidity did not affect the value of the company. Leverage affects the valu e of the company. Earnings quality does not moderate the ownership structure. ABSTRAK Penelitian ini bertujuan untuk mengetahui pengaruh profitabilitas, likuiditas, leverage, struktur kepemilikan terhadap nilai perusahaan dengan kualitas laba sebagai  moderasi pada perusahaan Real Estate. Obyek penelitian  perusahaan Real Estate yang terdaftar di Bursa Efek Indonesia  periode 2014-2018. Sampel dalam penelitian ini 28 perusahaan Real Estate di Bursa Efek Indonesia. Data digunakan data skunder. Metode analisis yang digunakan dalam penelitian ini PLS-SEM dengan WarpPLS 5.0. hasil penelitian menunjukan profitabilitas, likuiditas tidak berpengaruh terhadap nilai perusahaan. Leverage berpengaruh terhadap nilai perusahaan. Kualitas laba tidak memoderasi struktur kepemilikan. JEL Classification: M41, G32

scholarly journals PENGARUH MODAL KERJA DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN

2021 ◽  
Vol 5 (1) ◽  
pp. 73-88
Author(s):  
Budi Setyawan
Keyword(s):  
Data Collection ◽  
Firm Value ◽  
Stock Exchange ◽  
Secondary Data ◽  
Regression Method ◽  
Working Capital ◽  
Collection Method ◽  
Financial Reports ◽  
Multiple Regression Method ◽  
Spss Software

Abstract This study was conducted to determine the influence of working capital and profitability  on firm value, either partially or simultaneously on the issuers of the Textile and Garment Sector at the Indonesia Stock Exchange. The data collection method used  was documents studies, using secondary data in the form of financial reports from the Indonesia Stock Exchange. The data obtained were then processed by multiple regression method with SPSS software version 23.00. The results showed that working capital partially had no significant effect on firm value. Profitability partially has a significant effect on firm value. Simultaneously working capital and profitability have a significant effect on firm value. Keywords: Working Capital, Profitability, Firm Value

scholarly journals Working Capital Management (WCM) and Firm Performance in Emerging Markets: A Case of Bangladesh

2021 ◽  
Vol 10 (1) ◽  
pp. 36
Author(s):  
Rafiqul Bhuyan ◽  
Mohammad Sogir Hossain Khandoker ◽  
Noshin Tasneem ◽  
Mahjuja Taznin
Keyword(s):  
Stock Exchange ◽  
Secondary Data ◽  
Total Asset ◽  
Capital Management ◽  
Working Capital ◽  
Return On Assets ◽  
Working Capital Management ◽  
Cash Conversion Cycle ◽  
Current Asset ◽  
The Impact

We examine the impact of efficient working capital management on market value and profitability. Using secondary data on selected firms from Dhaka Stock Exchange we explore the effects of various working capital components (i.e. cash conversion cycle (CCC), current ratio (CR), current asset to total asset ratio (CATAR), current liabilities to total asset ratio (CLTAR), debt to asset ratio (DTAR), siz,e and growth) to the firm’s performance by looking firm’s value i.e. Tobin’s Q (TQ) and profitability i.e. return on asset (ROA) and return on invested capital (ROIC). Our results show that, for both food and overall manufacturing sectors, there is a significant association between working capital variables and firm’s value & return on assets, but an insignificant association with return on invested capital.

scholarly journals The Effect of Working Capital, Liquidity and Solvency on Profitability at PT Nippon Indosari Corpindo, Tbk

2020 ◽  
Vol 7 (1) ◽  
pp. 11
Author(s):  
Eni Puji Astuti
Keyword(s):  
Quantitative Research ◽  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Secondary Data ◽  
Financial Statements ◽  
Multiple Linear Regression Analysis ◽  
Coefficient Of Determination ◽  
Working Capital ◽  
Quantitative Research Methods ◽  
Main Attraction

The main attraction for owners of company shareholders lies in the profitability ratio that shows the results of the management of the company's management of the funds invested. This study aims to determine: The Effect of Working Capital, Liquidity and Solvency on the Profitability of PT. Nippon Indosari Corpindo Tbk, both partially and simultaneously. Descriptive quantitative research methods, the data used are secondary data in the form of financial statements of PT. Nippon Indosari Corpindo Tbk, for a period of 9 years from 20010 - 2018 obtained through the IDX (Indonesia Stock Exchange). The analytical method used is the classic assumption test, multiple linear regression analysis, coefficient of determination and hypothesis testing. Based on the analysis results obtained the coefficient of determination (R2) of 0.928 or equal to 92.8%, which means that the contribution made by working capital, liquidity and solvency to profitability reaches 92.8.3% the remaining 7.2% is influenced by other variables which is not researched. Based on the t test partially working capital on profitability there is an effect where tcount -5.847> t table 2.575 and significance value 0.02 <0.05 and partially liquidity on profitability has no effect where tcount 1.846 <t table 2.575 and significance value 0.124> 0.05 and partially solvency to profitability there is the influence of tcount -3.386> ttable 2.575 and significance value 0.02 <0.05 based on the f test simultaneously working capital, liquidity and solvency affect the profitability where Fcount 21.477> Ftable 5.41 with a significant value of 0.003 <0.05

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