scholarly journals Model Altman Z-Score Terhadap Kinerja Keuangan di Bursa Efek Indonesia Melalui Pendekatan Regresi Logistik

2019 ◽  
Vol 1 (1) ◽  
pp. 63-72
Author(s):  
Nurul Fitri ◽  
Rachma Zannati
Keyword(s):  
Regression Analysis ◽  
Financial Distress ◽  
Manufacturing Industry ◽  
Stock Exchange ◽  
Manufacturing Companies ◽  
Z Score ◽  
Return On Assets ◽  
Current Ratio ◽  
Analysis Technique ◽  
Equity Ratio

The purpose of this study is to confirm the determinants of financial performance on the condition of financial distress companies through the Altman Model (Z-score) approach. The sample in this study is a manufacturing industry sub-sector company which is listed on the Indonesia Stock Exchange for the period 2013 to 2017. The analysis technique of this study uses logistic regression analysis, and the findings prove that the Current Ratio and Debt to Equity Ratio cannot predict the condition of Financial Distress. Whereas Return On Assets can predict Financial Distress in manufacturing companies. The implications of this finding can contribute to companies in maintaining financialperformance stability so as to avoid financial distress. 

PENGARUH CURRENT RATIO, DEBT TO EQUITY RATIO DAN RETURN ON EQUITY TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN MANUFAKTUR

2020 ◽  
Vol 4 (2) ◽  
pp. 53-67
Author(s):  
Ameilia Damayanti ◽  
Rianto Rianto
Keyword(s):  
Regression Analysis ◽  
Firm Value ◽  
Stock Exchange ◽  
Manufacturing Companies ◽  
Current Ratio ◽  
Return On Equity ◽  
Company Value ◽  
Analysis Technique ◽  
Equity Ratio ◽  
The Many

Current ratio, Debt to Equity Ratio, and Return on Equity are some of the many factors that are thought to have an influence on company value. Several studies have also used these factors as variables. Therefore, this study aims to test and reaffirm the results of previous studies with mixed conclusions. The sample of this study was 100 companies in manufacturing companies listed on the Indonesia Stock Exchange in the period 2018. The analysis technique used in this study is multiple regression analysis. The results showed that partially Current ratio, Debt to Equity Ratio had no significant effect on Company Value, while Profitability had a significant effect on Company Value. Simultaneously testing shows that current ratio, debt to equity ratio, and return on Equity have a significant effect on firm value.             

scholarly journals KINERJA RASIO KEUANGAN UNTUK MEMPREDIKSI KONDISI FINANCIAL DISTRESS PADA PERUSAHAAN JASA DI BURSA EFEK INDONESIA PERIODE 2009-2014

2017 ◽  
Vol 6 (1) ◽  
Author(s):  
Muazaroh Muazaroh
Keyword(s):  
Financial Distress ◽  
Service Sector ◽  
Stock Exchange ◽  
Warning System ◽  
Total Asset ◽  
Return On Assets ◽  
Current Ratio ◽  
Analysis Technique ◽  
Asset Turnover ◽  
Equity Ratio

Identifying financial distress condition is important because it can be an early warning system before bankcruptcy. This condition can be predicted using models that have developed by many researchers. The purpose of this research is to describe and analyze the effect of the return on assets, current ratio, debt to equity ratio and total asset turnover towards condition of financial distress in service sector listed in Indonesian Stock Exchange (IDX) in the year 2009-2014. The data analysis technique is logistic regression. The sample consist of 60 data observed of the firms with positive earning before tax for the two consecutive years and 60 data observed of the firms with negative earning before tax for the two consecutive years. The result of this research shows thatreturn on asset significantly affects to condition of company financial distress. Whereas debt to equity ratio, current ratio and total asset turnover do not significantly influenceto condition of company financial distress.So, companies should pay attention to productivity in the future to maintain the effectiveness of the management.

scholarly journals Analisis Pengaruh Current Ratio, DER, TATO dan EBITDA Terhadap Kondisi Financial Distress Pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia

2019 ◽  
Vol 14 (1) ◽  
pp. 111-125
Author(s):  
Amanda Oktariyani
Keyword(s):  
Regression Analysis ◽  
Financial Distress ◽  
Stock Exchange ◽  
Total Asset ◽  
Manufacturing Companies ◽  
Analysis Method ◽  
Current Ratio ◽  
Asset Turnover ◽  
Equity Ratio ◽  
Tax Depreciation

This study aims to determine whether the financial ratios that proxied by Current Ratio, Debt to Equity Ratio, Total Asset Turnover, and Earning Before Interest, tax, Depreciation, and Amortization  affect to Financial distress in manufacturing companies listed on the IDX from  2013  to  2017. The  samples  consist  of  46  manufacturing  companies. The data  analysis  method used is logistic regression analysis. The results showed that Total Asset Turnover and Earning  Before Interest, Tax, Depreciation and Amortization influence partially to Financial Distress. Whereas, Current Ratio and Debt to Equity Ratio has not influence partially to Financial distress. The results showed that Current Ratio (CR), Debt to Equity Ratio (DER), Total Asset Turnover (TATO) and Earning Before Interest, Tax, Depreciation and Amortization (EBITDA) influence simultaneously to Financial Distress on manufacturing companies listed on Indonesia Stock Exchange (IDX) 2013-2017.

scholarly journals ANALISIS RASIO KEUANGAN UNTUK MEMPREDIKSI FINANCIAL DISTRESS PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA

2019 ◽  
pp. 90-102
Author(s):  
Juliana Manurung ◽  
Kornel Munthe
Keyword(s):  
Financial Distress ◽  
Prediction Accuracy ◽  
Stock Exchange ◽  
Manufacturing Companies ◽  
Analysis Method ◽  
Return On Assets ◽  
Current Ratio ◽  
Financial Ratio ◽  
Study Population ◽  
Equity Ratio

This study aims to predict financial distress through the variable lancer ratio, return on assets and debt to equity ratio since 1, 2 and 3 years before it occurs in manufacturing companies listed on the Indonesia Stock Exchange. The study population was all manufacturing companies listed on the Indonesia Stock Exchange, and by using purposive sampling, a sample of 66 companies was obtained. The data analysis method used is logistic regression. The results showed the current ratio variable, return on assets and debt to equity ratio, together had a significant effect on the probability of financial distress for one, two and three years before it occurred in the manufacturing companies listed on the Indonesia Stock Exchange since one, two and three before it occurs at α = 5 percent. The level of prediction accuracy of the effect of financial ratio information on the probability of financial distress on companies that have been listed on the Indonesia Stock Exchange since one, two and three years before experiencing financial distress occurred respectively was 97.0 percent, 77.3 percent and 74.2 percent. The current ratio variable and the debt to equity ratio partially do not significantly influence the probability of financial distress for one, two and three years before it occurs, whereas the debt to equity ratio partially has a positive and significant effect on financial distress for one, two and three years before it occurs in companies that have been listed on the Indonesia Stock Exchange.

Pengaruh Penerbitan Sukuk Ijarah Terhadap Return On Assets, Return On Equity dan Earning Per Share Emiten di Bursa Efek Indonesia Tahun 2009-2013

2015 ◽  
Vol 2 (6) ◽  
pp. 459
Author(s):  
Rianda Ajeng Ardiyanti Putri ◽  
Leo Herlambang
Keyword(s):  
Regression Analysis ◽  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Simple Linear Regression ◽  
Return On Assets ◽  
Return On Equity ◽  
Earnings Per Share ◽  
Analysis Technique ◽  
Equity Ratio ◽  
Independent Variable

Sukuk in Indonesia is growing rapidly with marked Corporate Sukuk issuance reached 65 Sukuk. Within this development also trigger the issuance of Ijarah Sukuk more in demand by the issuer as it is considered more prospective than the Mudharabah Sukuk.This study aimed to determine the issuance effect of Ijarah Sukuk on the financial performance issuer in the Indonesia Stock Exchange in 2009 to 2013. The independent variable in this study is Sukuk to Equity Ratio and the dependent variable in this study are Return on Assets, Return on Equity and Earnings per Share. The analysis technique used is a simple linear regression analysis OLS with 95% of confidence level.The results of this study show that Sukuk to Equity Ratio has significant effect on Return on Assets, but Sukuk to Equity Ratio has not significant effect on Return on Equity and Earnings per Share.

scholarly journals Pengaruh Debt to Equity Ratio, Total Assets Turnover, Firm Size, dan Current Ratio terhadap Return on Assets

2021 ◽  
Vol 2 (1) ◽  
pp. 57-69
Author(s):  
Aurick Chandra ◽  
Felicia Wijaya ◽  
Angelia ◽  
Keumala Hayati
Keyword(s):  
Firm Size ◽  
Quantitative Research ◽  
Stock Exchange ◽  
Negative Influence ◽  
Research Approach ◽  
Manufacturing Companies ◽  
Return On Assets ◽  
Current Ratio ◽  
Study Results ◽  
Equity Ratio

Purpose: This study aimed to examine and analyze the effects of the Debt to Equity Ratio (DER), Total Assets Turnover (TATO), firm size, and Current Ratio (CR) on Return on Assets (ROA) on the manufacturing companies listed on the Indonesia Stock Exchange from 2017 to 2019 Research methodology: This research approach used quantitative research with descriptive research type. The research sample was determined by purposive sampling method to obtain 93 manufacturing companies listed on the Indonesia Stock exchange in 2017-2019. Results: The study results with simultaneous hypothesis testing showed that the Debt to Equity Ratio, Total Assets Turnover, firm size, and Current Ratio had a significant influence on the Return on Assets. Partial testing of the hypothesis showed that the Debt to Equity Ratio had a negative influence and significant on the Return on Assets. Total assets turnover and firm size had a positive influence and significance on the Return on Assets. However, the Current Ratio had no influence and was not significant on the Return on Assets. Limitations: The use of historical data and variables was limited, only three years and five variables. Contribution: This research can be used for adding knowledge in the financial field, especially for those who want to invest in a company by seeing the Return on Assets ratio. Keywords: Debt to Equity Ratio (DER), Total Assets Turnover (TATO), Firm Size, Current Ratio (CR), Return on Assets (ROA)

scholarly journals The effect of own capital rentability, solvability, profitability and liquidity on dividend policy in food and beverage sub sector companies listed on Indonesia Stock Exchange (IDX)

2019 ◽  
Vol 4 (1) ◽  
pp. 37
Author(s):  
Wartoyo Hadi ◽  
Nuraeni Rahayu
Keyword(s):  
Sampling Method ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Manufacturing Companies ◽  
Return On Assets ◽  
Current Ratio ◽  
Dividend Payout ◽  
Regression Methods ◽  
Food And Beverage ◽  
Equity Ratio

The aims of study to determine the effect of rentability of own capital, solvability, Profitability and Liquidity on dividend policy. The population of this study is all food and beverage sub-sector manufacturing companies listed on the Indonesia Stock Exchange (IDX) in 2015-2017 as many as 18 companies. While the sample is determined using the purposive sampling method. Companies that meet the criteria are only 7 companies. To analyze the data used multiple linear regression methods. The results of research, own capital rentability and current partial ratio (CR) has a negative and significant effect on the dividend payout ratio. Meanwhile, debt to equity ratio (DER) and return on assets (ROA) partially have a positive and significant effect on the dividend payout ratio. The results of the F-test show that the variable profitability of own capital rentability, solvency, profitability and liquidity simultaneously influence dividend policy. Keywords: own capital rentability, debt to equity ratio, return on asset, current ratio, dividend payout ratio.

scholarly journals Pengaruh Likuiditas, Aktivitas, Profitabilitas dan Leverage Terhadap Financial Distress (Studi Kasus pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Periode 2014-2018)

Jurnal Ecogen ◽  
2020 ◽  
Vol 3 (1) ◽  
pp. 134
Author(s):  
Rahmadona Amelia Fitri ◽  
Syamwil Syamwil
Keyword(s):  
Logistic Regression ◽  
Regression Analysis ◽  
Logistic Regression Analysis ◽  
Financial Distress ◽  
Stock Exchange ◽  
Simple Random Sampling ◽  
Manufacturing Companies ◽  
Significance Level ◽  
Analysis Technique ◽  
Sample Technique

The research aims to determine the effect of liquidity, activity, profitability and leverage on the financial distress of manufacturing companies listed on the Indonesia Stock Exchange in the 2014-2018 period. The population is 161 companies with 805 data. The sample technique uses purposive sampling and simple random sampling to get a sample of 64 companies with 320 data, the number of samples used is 256 valid data and in accordance with the required criteria. Data analysis technique used logistic regression analysis. Based on the results of logistic regression analysis with a significance level of 5% the results of the study concluded: 1) Liquidity, activity, profitability and leverage affect the financial distress with a significance value of 0,000 < 0.05 and independent variables can hear iden the occurrence of the dependent variable of 83,8% . 2) Liquidity does not affect the financial distress with a significance value of 0.199 > 0.05. 3) Activities affect the financial distress with a significance value of 0.041 < 0.05. 4) Profitability affects the financial distress with a significance value of 0,000 < 0.05. 5) Leverage affects the financial distres with a significance value of 0,000 < 0.05.Keywords: liquidity, activity, profitability, leverage, financial distress.

scholarly journals Analisis Faktor Penentu Financial Distress Pada Perusahaan Jasa Yang Terdaftar Di Bei

2021 ◽  
Author(s):  
Eny Kusumawati ◽  
◽  
Alfina Shinta Dilas Chaniago ◽  
Keyword(s):  
Financial Distress ◽  
Z Score ◽  
Return On Assets ◽  
Current Ratio ◽  
Purposive Sampling ◽  
Equity Ratio

Penelitian ini bertujuan untuk menganalisis faktor penentu terjadinya financial distress dengan analisis Model Altman Z-Score pada perusahaan sektor perdagangan, jasa dan investasi yang terdaftar di Bursa Efek Indonesia periode 2014-2019. Penelitian ini menganalisis pengaruh variabel profitabilitas yang diproksikan dengan return on assets (ROA). Likuiditas yang diwakili oleh current ratio (CR). Solvabilitas (leverage) yang diproksikan dengan debt equity ratio (DER). Komite audit yang diproksikan dengan jumlah komite audit. Kepemilikan institusional diproksikan dengan kepemilikan saham perusahan oleh institusi-institusi dari seluruh saham yang beredar. Metode pengambilan sampel dalam penelitian ini adalah purposive sampling. Jumlah sampel dalam penelitian ini sebanyak 50 sampel. Data rasio keuangan perusahaan pada tahun 2014-2018, kemudian digunakan unutk memprediksikan financial distress pada tahun 2015-2019. Financial distress diperoleh oleh Z-Score. Metode yang digunakan untuk pengumpulan data dalam penelitian ini adalah metode dokumentasi. Teknik analisis dilakukan dengan statistik deskriptif dan uji asumsi klasik serta uji hipotesis menggunakan metode regresi linier berganda, uji Adjusted R2, uji F dan uji t. Hasil penelitian menunjukkan bahwa profitabilitas, likuiditas, solvabilitas (leverage) dan kepemilikan institusional berpengaruh signifikan terhadap financial distress. Sementara itu, komite audit tidak berpengaruh terhadap financial distress.

scholarly journals The effect of own capital rentability, solvability, profitability and liquidity on dividend policy in food and beverage sub sector companies listed on Indonesia Stock Exchange (IDX)

2019 ◽  
Vol 4 (01) ◽  
pp. 37
Author(s):  
Wartoyo Hadi
Keyword(s):  
Sampling Method ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Manufacturing Companies ◽  
Return On Assets ◽  
Current Ratio ◽  
Dividend Payout ◽  
Regression Methods ◽  
Food And Beverage ◽  
Equity Ratio

The aims of study to determine the effect of rentability of own capital, solvability, Profitability and Liquidity on dividend policy. The population of this study is all food and beverage sub-sector manufacturing companies listed on the Indonesia Stock Exchange (IDX) in 2015-2017 as many as 18 companies. While the sample is determined using the purposive sampling method. Companies that meet the criteria are only 7 companies. To analyze the data used multiple linear regression methods. The results of research, own capital rentability and current partial ratio (CR) has a negative and significant effect on the dividend payout ratio. Meanwhile, debt to equity ratio (DER) and return on assets (ROA) partially have a positive and significant effect on the dividend payout ratio. The results of the F-test show that the variable profitability of own capital rentability, solvency, profitability and liquidity simultaneously influence dividend policy. Keywords: own capital rentability, debt to equity ratio, return on asset, current ratio, dividend payout ratio.

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