scholarly journals The Role of Risk in the Association of Company Growth Signals and Investor Response

2020 ◽  
Vol 11 (1) ◽  
pp. 88-88
Author(s):  
Juniarti ◽  
Agus Arianto Toly
Keyword(s):  
Financial Performance ◽  
Capital Expenditure ◽  
Stock Exchange ◽  
Control Variable ◽  
Capital Expenditures ◽  
Strategic Decisions ◽  
Stock Performance ◽  
Capital Spending ◽  
Company Growth

This study aims to examine the role of risk factors in the relationship between investor responses and company growth signals through capital expenditure measures.Research respondents are segmented, only companies with the best stock performance in each sector in 2017. The observation period is 2017 to 2019. In this research, the companies selected are the top 10 companies in each sector with the best stock performance in companies listed on the Indonesia Stock Exchange. The main variables are a growth signal which is proxied by growth in capital spending and capital expenditure, risk and investor response, which is proxied by CAR. Financial performance as measured by ROA is a control variable in this study. The results show that the signal of growth as measured by capital expenditures responded positively by the market, the risk moderates this influence, companies with high risk will be responded negatively by investors and vice versa. This finding corrects previous findings that only looked at the signal aspect of growth, without linking it to risk. In addition, these findings reinforce the argument that investors buy the future of the company, not a momentary financial performance. This can be seen from the absence of ROA influence on investor response. This study provides an insight that companies need to manage risk appropriately, because the risk aspect of the company is a crucial factor for investors. High risks will eliminate the benefits of strategic decisions in this case in the form of capital expenditures. Keywords: growth signals, capital expenditure, risk, investor response

scholarly journals KINERJA KEUANGAN, KINERJA SAHAM DAN STRUKTUR MODAL DI INDONESIA

2018 ◽  
Vol 18 (2) ◽  
pp. 135
Author(s):  
Nera Marinda Machdar
Keyword(s):  
Capital Structure ◽  
Financial Performance ◽  
Stock Exchange ◽  
Order Theory ◽  
Analysis Method ◽  
Pecking Order ◽  
Pecking Order Theory ◽  
Stock Performance ◽  
Observation Period

<p><em>This study addresses the role of the company's financial performance on the company's stock performance, and investigates the role of capital structure as a moderating variable to weaken the effect of the company's financial performance on the company's stock performance. This research uses agency theory and pecking order theory. Panel regression analysis method is used for the data analysis. The data used as the sample of the company is the properti and real estat firms listed in Indonesia Stock Exchange, and the observation period is the year 2011-2016. The number of samples by using purposive samping criteria is available 234 firms-year. The findings of this study is that the company's financial performance has no effect on the company's stock performance, and capital structure can not moderate the effect of the company's financial performance on the company's stock performance.</em></p>

scholarly journals Pengaruh Belanja Modal terhadap Pendapatan Asli Daerah dan Dampaknya Pada Kinerja Keuangan Pemerintah Daerah (Studi Empiris Pada Pemerintah Daerah Kabupaten/Kota Di Provinsi Aceh)

2014 ◽  
Vol 1 (2) ◽  
pp. 183-199
Author(s):  
Darwanis Darwanis ◽  
Ryanda Saputra
Keyword(s):  
Financial Performance ◽  
Capital Expenditure ◽  
Secondary Data ◽  
Variable Region ◽  
Capital Expenditures ◽  
Capital Spending ◽  
Aceh Province ◽  
Spending Growth ◽  
The City ◽  
Positive Effect

The research aims to analyze the influence of Capital Expenditure on the original income and its impact on Local Government Financial Performance This research refers to a previous research’s conducted by Fajar Nugroho (2012). Objects of this research are the entire district and city in Aceh province. The research was carried out by the method of documentation. The data used are secondary data, which comes from the realization of the Budget Report Revenue and Expenditure of the district and the city in Aceh province from 2009 until 2012. The results of this study indicate that the Capital Expenditures negatively affect of the region's financial performance directly, whereas indirect positive effect on Capital Spending Growth through Revenue Financial Performance as an intervening variable region. The results of this study indicate that the capital expenditureeffect on the Local original income, Local original income effect on financial performance, capital expenditures does not affect on the financial performance directly, while indirectly capital expenditureeffect on financial performance through local original income.

scholarly journals Financial Performance Measurement Of With Signaling Theory Review On Automotive Companies Listed In Indonesia Stock Exchange

2018 ◽  
Vol 1 (2) ◽  
pp. 167-177
Author(s):  
Yuniningsih - Yuniningsih ◽  
Nisrina Atika Hasna ◽  
Muh Barid Nizarudin Wajdi
Keyword(s):  
Financial Performance ◽  
Stock Exchange ◽  
Analysis Method ◽  
Negative Direction ◽  
Corporate Size ◽  
Company Growth ◽  
Signaling Hypothesis ◽  
A Company ◽  
Theory Review

The Abstract The research aims to determine the role of debt variable, corporate size and growth to the high financial performance of a company with the basis of signaling hypothesis.  Analysis method used is multiple linear regression. The unit of analysis is automotive companies listed on Indonesia Stock Exchange period of 2012-2016. The results of the classical assumption test indicate that this research is free of multicollinear, heteroscedasticity and autocorrelation. The results indicate that debt results in negative direction and not significant, corporate size has a negative direction and not significant and company growth has a negative direction and significant. The three results are not in accordance with the hypothesis proposed in the study.  The present research has limitation that variables  used can only explain 14.4% and the rest are explained by other variables beyond this study.

scholarly journals The effect of capital expenditure, company growth and company size on firm value through financial performance moderated by capital structure

2019 ◽  
Vol 17 (1) ◽  
pp. 236-244
Author(s):  
Salimah ◽  
Yudhi Herliansyah
Keyword(s):  
Capital Structure ◽  
Financial Performance ◽  
Firm Value ◽  
Quantitative Methods ◽  
Capital Expenditure ◽  
Stock Exchange ◽  
Company Size ◽  
Company Value ◽  
Company Growth ◽  
Positive Effect

This study aims to examine the influence of capital expenditure variables, company growth, and company size on firm value through financial performance is moderated by the capital structure of the company in LQ 45 companies listed on the Indonesia Stock Exchange. The research methodology uses quantitative methods, the number of observations as many as 50 sourced from 45 companies over 5 annual periods. The results of this study found that: (1) Capital Expenditure (Capex), Company Growth (Growth) and Company Size (Size) had no effect on Company Value (PBV), (2) Capital Expenditure (Capex) does not affect Financial Performance (ROE), (3) Company Growth (Growth) and Company Size (Size) have a significant effect on ROE, (4) Financial Performance (ROE) has a significant positive effect on Value Company (PBV), (5) Financial Performance (ROE) does not mediate the effect of Capital Expenditure (Capex), Company Growth (Growth) and Company Size (Size) on Firm Value (PBV), (6) Capital Structure (DER) moderates the influence of Financial Performance (ROE) to Company Value (PBV)

scholarly journals Analyzing the Effect of Board of Commissioners’ Characteristics, Managerial Ownership, and Financial Performance on Financial Risk Disclosure

2019 ◽  
Vol 3 (1) ◽  
Author(s):  
Muhammad Syafwan Hady
Keyword(s):  
Financial Performance ◽  
Financial Risk ◽  
Control Variable ◽  
Secondary Data ◽  
Target Population ◽  
Financial Statements ◽  
Managerial Ownership ◽  
Risk Disclosure ◽  
Independent Variables

<p>This study aims to examine the role of the board of commissioners’ characteristics, managerial ownership, and financial performance on financial risk disclosure. The target population of this study was sharia banks registered in the Indonesian banking directory in 2012-2016. This study used secondary data in the form of annual financial statements obtained from the source sites of each bank. Using purposive sampling, 11 sharia banks in Indonesia were selected as the appropriate sample. This study employed a scoring technique to measure the level of financial risk disclosure. The results show that the independent variables including the board of commissioners size, independent board of commissioners proportion, profitability, and size as the control variable significantly influenced the variable of FRD. However, the variable of CAR, FDR, and managerial ownership had no effect on financial risk disclosure. The result of F test showed that independent variables included in the regression model simultaneously affected the dependent variable.</p>

scholarly journals PROFITABILITAS TERHADAP RETURN SAHAM

2018 ◽  
Vol 19 (3) ◽  
pp. 36
Author(s):  
Happy Sista Devy
Keyword(s):  
Financial Performance ◽  
Stock Returns ◽  
Return On Investment ◽  
Stock Return ◽  
Stock Exchange ◽  
Investment Decision ◽  
Control Variable ◽  
Return On Equity ◽  
Ratio Size ◽  
Return On Sales

The development of the capital market is currently followed by the development of the stock market is increasingly in demand by investors as well, seen from data on Indonesia Stock Exchange (IDX) which shows that the stocks included in the sharia has increased. An investor will do the analysis to make an investment decision. The analysis is technical and fundamental. One of the fundamental analysis is profitability ratio analysis issued by the company. Good financial performance will be the information used as a positive signal by investors, because companies that have good financial performance will provide more benefits for investors. The purpose of this research is to examine and analyze profitability variables on stock returns in Jakarta Islamic Index (JII) period 2012-2016. Population of this research is a company included in the Jakarta Islamic Index (JII). This research using sample criteria, we obtained a sample of 21 companies included in the Jakarta Islamic Index (JII) for the period of 2012-2016 and published annual financial report data on Indonesia Stock Exchange (IDX) required during the study. The variables used in this research are earning per share (EPS), return on equity (ROE), return on asset (ROA), return on sales (ROS), return on investment (ROI), size as control variable, and stock return as the dependent variable. Result of this research show that investor on Jakarta Islamic Index (JII) see simultaneously the profitability ratio as a signal for investment decision making. Variable size can be used as control variable in that used in this research. Profitability ratios that are taken by investors are return on assets (ROA), earnings per share (EPS), and return on investment (ROI). So that should be a special attention for companies incorporated in the Jakarta Islamic Index (JII) to increase investor interest to invest in the company. Keywords : stock return, profitability ratio, size.

scholarly journals PENGARUH PENGUNGKAPAN ESG TERHADAP KINERJA KEUANGAN PERUSAHAAN (STUDI EMPIRIS PADA PERUSAHAAN SEKTOR KEUANGAN YANG TERDAFTAR DI BEI PERIODE 2017-2019)

2021 ◽  
Vol 8 (2) ◽  
pp. 122-144
Author(s):  
Era Vivianti Husada ◽  
Susi Handayani
Keyword(s):  
Regression Analysis ◽  
Financial Performance ◽  
Multiple Regression Analysis ◽  
Economic Performance ◽  
Stock Exchange ◽  
Control Variable ◽  
Mixed Result ◽  
Sales Growth ◽  
Analysis Method ◽  
Performance Variables

This study aims to examine the effect of ESG disclosure on financial performance within firm. By using sample of 80 firms in finance sector, listed in Indonesia Stock Exchange for 2017-2019, sample selected using purposive sampling technique.Financial performance measured by Return on Asset, Tobin’s Q, and Sales Growth, the analysis method used is multiple regression analysis. The result showed that ESG disclosure only affect Return on Asset simultaneously, furtheranalysis showed that none of the economic performance variables affected by ESG disclosure partially, instead control variable produce mixed result that affect financial performance variable itself.

scholarly journals THE EFFECT OF FINANCIAL AND NON-FINANCIAL PERFORMANCE ON REGIONAL COMPETITIVENESS OF BUNGO DISTRICT WITH CAPITAL EXPENDITURE AND BUDGET GOVERNANCE AS INTERVENING

2021 ◽  
Vol 1 (4) ◽  
pp. 347-354
Author(s):  
Herawati ◽  
Syamsurijal Tan ◽  
Sri Rahayu ◽  
Syahmardi Yacob
Keyword(s):  
Financial Performance ◽  
Structural Equation Model ◽  
Structural Equation ◽  
Capital Expenditure ◽  
Equation Model ◽  
Primary Data ◽  
Capital Expenditures ◽  
Budget Management ◽  
Regional Competitiveness ◽  
The Impact

This study aims to determine the effect of financial and non-financial performance, capital expenditure, budget management on regional competitiveness. Second, this study also determines the impact of financial and non-financial performance on regional competitiveness through capital expenditures and budget management in the Bungo Regency. Primary data were collected through direct interviews with respondents with predetermined criteria and processed using Structural Equation Model analysis with PLS. The results study found only financial and non-financial performance and budget management had a significant effect on regional competitiveness, while capital expenditure had no effect. This study also found that financial and non-financial performance affects regional competitiveness through budget management, but it had no effect if capital expenditures were intervening.

scholarly journals The effect of earnings manipulation based on real activities to the performance of Indonesian SOEs

2020 ◽  
Vol 9 (5) ◽  
pp. 275-280
Author(s):  
Surifah Surifah ◽  
Ifah Rofiqoh
Keyword(s):  
Financial Performance ◽  
Stock Exchange ◽  
Control Variable ◽  
Least Square ◽  
Production Costs ◽  
Annual Reports ◽  
Earnings Manipulation ◽  
Government Ownership ◽  
Financial Reports ◽  
Owned Company

The aim of this research is to examine the effect of real earnings manipulation (REM) on the performance of state-owned enterprises (SOEs) in Indonesia. This research was conducted at a state-owned company listed on the Indonesia Stock Exchange (IDX) in 2013-2017. Data obtained from financial reports and annual reports issued by IDX and the Web of each SOEs. Data also comes from the Indonesian Capital Market Directory. The research variables consist of a dependent variable, which is financial performance, and an independent variable that is REM. Financial performance is proxy by net profit margin (NPM) and returns on equity (ROE). Earnings manipulation is proxy by Roychowdhury's model. The type of ownership is used as a control variable of this research. Generally, the least square regression model is used to test the relationship between earnings manipulation and SOEs performance. This research shows that earnings manipulation based on real activities through production costs negatively affects the performance of Indonesian SOEs, government ownership negatively effects on NPM whereas public ownership has a positive effect on performance, as measured by ROE. Improper government policies can reduce the performance and significant disadvantages of SOEs.

scholarly journals KONTRIBUSI PENDAPATAN ASLI DAERAH DAN DANA PERIMBANGAN TERHADAP BELANJA MODAL DAN KINERJA KEUANGAN DAERAH PROVINSI BALI

2017 ◽  
Vol 6 (1) ◽  
pp. 29
Author(s):  
Ida Bagus Badjra ◽  
I Ketut Mustanda ◽  
Nyoman Abudanti
Keyword(s):  
Local Government ◽  
Financial Performance ◽  
Capital Expenditure ◽  
Fund Balance ◽  
Capital Spending ◽  
Negative Effect ◽  
Study Population ◽  
Performance Area ◽  
Decentralized Government ◽  
The City

Issues that arise in a decentralized government that is when the allocations are not appropriate in capital expenditure as well as the reception is not optimal (PAD, DBH, DAU, and DAK) that impact on the performance of local government. This study aimed to analyze the effect of revenue (PAD) and Fund Balance to the Capital Expenditure and Financial Performance Bali Provincial. The study population was all over the city /regency in Bali. This research technique using census method. The results showed that capital spending is directly positive and significant impact on the financial performance area, equalization funds directly no significant effect on capital expenditure, the balance funds indirectly positive and significant impact on the financial performance areas, PAD direct significant effect on capital spending PAD indirectly no significant negative effect on the financial performance of the region.

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