scholarly journals The Impact Analysis of Privatization and Shariah Screening on Financial Performance and Shares Return of State Owned Enterprises as the member of Jakarta Islamic Index

2017 ◽  
Vol 2 (1) ◽  
pp. 13-41
Author(s):  
Mursid Lubis ◽  
Yuzwar Z. Basri ◽  
Tatik Mariyanti
Keyword(s):  
Financial Performance ◽  
Impact Analysis ◽  
Descriptive Analysis ◽  
Simultaneous Equation ◽  
Share Price ◽  
State Budget ◽  
Stock Performance ◽  
Ex Post ◽  
Equity Ratio ◽  
The Impact

Privatization is one of the government’s programs in restructuring State-Owned Enterprises (SOEs). Other than restructuring SOE, privatization is also source of state budget funds (APBN). By privatizing SOE, government expected healthy corporation that will contribute larger tax payments, dividend payments, and additional paid-in capital. So it is expected that SOEs are always in a healthy condition, high competitive and produce goods quality products and services.In order to invite Islamic foreign investors. Now also available public listed SOEs that is according to Islamic sharia. SOE sharia shares are expected to be an example of implementing business in accordance to sharia, will benefit better financial performance and better share price. Eight SOEs who are members of the Jakarta Islamic Index, those are WSKT, WIKA, PTPP, SMGR, TLKM, PTBA, ANTM and PGAS, will be evaluated in this research regarding their financial performance and stock performance during the period 2000 to 2016.This research is included in descriptive research method that is ex post facto. The researcher evaluated the company's financial performance and stock performance during the 17-year period, from 2000 to 2016, financial performance measured is profitability performance (NPM, ROA and ROE), solvency (Total Asset Turnover) activity (Debt to Equity Ratio). The measurement of stock performance those are EPS. PER and PBV. Data analysis used in this research is descriptive analysis, trend analysis and Test t test.Based on the results of the study, the variable condition before the regression, NPM, ROA, ROE, DER, DR, DI, S / TA, EPS, PER and PBV variables have scattered residues normally. However, when tested for heteroscedasticity using scatter diagrams these variables such are NPM, ROA, ROE and PER free from heteroscedasticity. But variables such as DER, DR, DI, S/TA, EPS and PBV variables tend to contain heteroscedasticity. NPM variable data, tends to increase every year, as well as ROA, ROE. However, DER, DR, DI, S / TA, EPS, PER and PBV variables tend to be stable from year to year.Through a simultaneous equation method that reflects the existence of circular causation, it gives an idea of all variables being independent and dependent. Variable net profit margin on each SOE member JII, influenced significantly by the variable ROE, DER, DR, PER, PBV. The variable return on asset is influenced by ROE and DER variables significantly. The return on equity variable is significantly influenced by NPM, ROA, DER, PER and PBV variables. Debt To Equity Ratio (DER) variables are influenced significantly variables of NPM, ROA, ROE, DER, PER and PBV. Days Receivable (DR) variables influenced by NPM variables significantly.Days Inventory variables are not affected by any variable. Variable of Asset Turn Over (S / TA) is influenced by one variable only that is EPS. Variable Earning per Share (EPS) influenced significantly by variable DER and S / TA. Price Earning Ratio (PER) variables are significantly influenced by NPM, ROE, DER, and PBV. Price to Book Value (PBV) variables are significantly influenced by NPM, ROE, DER and PER variables.

scholarly journals Human Capital Reporting (HCR) and Shareholder Value Maximization in Listed Manufacturing Firms in Nigeria

2021 ◽  
Vol 12 (4) ◽  
pp. 168
Author(s):  
Ademola Adeniran Adewumi ◽  
Ilesanmi Isaac Omole ◽  
Amos Olatunbosun Talabi ◽  
Godwin Gabriel Omula
Keyword(s):  
Financial Performance ◽  
Human Resource ◽  
Firm Value ◽  
Manufacturing Firms ◽  
Share Price ◽  
Annual Reports ◽  
Earnings Per Share ◽  
Ex Post ◽  
Distributional Dynamics ◽  
The Impact

This study examines the impact of human resource reporting (HCR) or disclosures on share price and earnings potential measured by the earnings per share. It adopts an ex-post causal research design and employs secondary data retrieved from annual reports of 30 selected manufacturing firms in Nigeria. Data was analyzed using descriptive statistics, correlation analysis and the quantile regression techniques. The research outcome from the distributional dynamics for share price tends to highlight that the effect of HRD-Index is significant at 5% for firms at high levels above average financial performance at Q[0.2.] - Q[0.4] and also significant at 5% for firms at average levels of firm value Q[0.5] and even below average levels Q[0.6]-Q[0.9]. Finding thus highlights that the impact of human resource disclosures on share price or market value may not necessarily be a function of the share price levels. The distributional dynamics for EPS used as the measure for earnings potential is similar to that which was observed for Share price and tends to highlight that the effect of human resource disclosure is significant at 5% for firms at high levels above average earnings per share measure of financial performance at Q[0.1], Q[0.2.], Q[0.3.] and Q[0.4.] and also significant at 5% for firms at average levels of financial performance Q[0.5] and even below average levels Q[0.6]-Q[0.8]. The recommendation is that human resource investments should not been looked at as an expense but as a competitive strategy of the firm.

scholarly journals Predicting Stock Return of UAE Listed Companies Using Financial Ratios

2019 ◽  
Vol 8 (2) ◽  
pp. 214
Author(s):  
Arindam Banerjee
Keyword(s):  
Stock Returns ◽  
Stock Return ◽  
Share Price ◽  
Financial Ratios ◽  
P Value ◽  
Dividend Yield ◽  
Value Analysis ◽  
Return On Equity ◽  
Equity Ratio ◽  
The Impact

Over the past few decades, numerous research across the globe has been conducted to examine the impact of firm performance on its stock return. The findings of these studies have been varied. In spite of the long standing research in this area, several attempt towards exploring this relationship has led to limited success owing largely to the existence of volatility across different stock markets. The variance in the volatility in these markets make it extremely difficult to obtain a uniform measure. A volatile stock market makes it difficult for the accounting and financial variables to accurately predict the stock returns (Feris & Erin, 2018).  The primary aim of this paper is aimed to investigate whether financial ratios can be used as a predictor of stock returns in the context of United Arab Emirates (UAE). The sample of the study includes thirty companies from the Dubai Financial Market (DFM) and Abu Dhabi stock exchange (ADX). Data is collected for the period of 2017. This research comprises of five independent variables namely, Earning Per Share ratio (EPS), Price Earning ratio (PE), Return on Equity ratio (ROE), Dividend Yield ratio (DY) and Debt Equity ratio (DE) and stock return is taken as the dependent variable. The study examines which among the given ratios can better predict stock returns both in the short run and the long run. The analysis is based on the regression analysis and correlation matrix. The results of correlation test revealed less multicollinearity between the variables and the regression results showed that Dividend Yield and the Return on Equity are statistically significant to predict the stock returns. However, Earning Per Share, Price Earning and Debt Equity could not predict the stock returns and thus can be safely considered as statistically insignificant. The t-stats test and p-value analysis were key indicators for arriving at the conclusion. The study can significantly benefit investors who can examine closely the dividend yield and return on equity while selecting an optimal portfolio. 

scholarly journals DAMPAK PANDEMI COVID-19 TERHADAP IMPLEMENTASI MAKING INDONESIA 4.0

2021 ◽  
Vol 3 (2) ◽  
pp. 136-152
Author(s):  
Shiddiq Ardhi Irawan
Keyword(s):  
Manufacturing Industry ◽  
Industrial Revolution ◽  
Descriptive Analysis ◽  
Data Types ◽  
Literature Study ◽  
State Budget ◽  
Process Of Change ◽  
National Priority ◽  
National Programs ◽  
The Impact

The industrial revolution is a process of change in which human work in various fields is replaced by machines. Currently the world has entered the era of the industrial revolution 4.0 so that the process of producing goods or services is much more efficient than before. Therefore, since 2017 the Ministry of Industry has made a roadmap for the Implementation of Making Indonesia 4.0 to accelerate the development of the manufacturing industry in Indonesia. In the process of achieving this goal, Indonesia is one of the countries most affected by the COVID-19 pandemic which began in early 2020. The activity plans that have been prepared in the roadmap must be adjusted because most of their budget has been reallocated or refocused for handling the impact of the COVID-19 pandemic. -19, this study aims to determine the implementation of Making Indonesia 4.0 on the impact of the covid-19 pandemic in terms of policies and budget allocations. The method used is a literature study and descriptive analysis using quantitative and qualitative data types. Based on the results of the descriptive analysis, information was obtained that the 2020 budget allocation for the Implementation of Making Indonesia 4.0 included the refocusing of 63.4% of the initial ceiling. With this refocusing, it is necessary to reconstruct the national priority programs contained in the roadmap for the Implementation of Making Indonesia 4.0 and redesign. financing so that not all national programs use the state budget.

scholarly journals PENGARUH KINERJA KEUANGAN TERHADAP RETURN SAHAM PERUSAHAAN MANUFAKTUR SEKTOR INDUSTRI BARANG KONSUMSI YANG TERDAFTAR DI BURSA EFEK INDONESIA

AKUNTABILITAS ◽  
2019 ◽  
Vol 12 (2) ◽  
pp. 161-180
Author(s):  
Tutia Rahmi ◽  
Tertiarto Wahyudi ◽  
Rochmawati Daud
Keyword(s):  
Financial Performance ◽  
Stock Returns ◽  
Stock Exchange ◽  
Hypothesis Test ◽  
Negative Influence ◽  
Profit Margin ◽  
Share Price ◽  
Manufacturing Companies ◽  
Return On Assets ◽  
Equity Ratio

The purpose of this research is to explain the effect of financial performance to the stock return. The financial performances in this research were Earning Per Share, Price Earning Ratio, Debt to Equity Ratio, Return On Assets, andNet Profit Margin. The financial performance as the independent variables and the dependent variabel is stock return.The sample of this research is thirty manufacturing company of consumer goods industry sector. These companies are listed on the Indonesia Stock Exchange since 2012 until 2014. The sampling method is purposive sampling. The analysis method used in this research that is with hypothesis test that is determinant coefficient, test F, and test t. Using thirty manufacturing companies listed in IDX, this research shows that the Earning Per Share, Price Earning Ratio and the Net Profit Margin has a positive and significant impact on stock returns. Instead, the variable Debt to Equity Ratio has a negative influence. This research also indicate that variable Return On Assets has no effect on stock returns.

scholarly journals The Impact of Corporate Social Responsibility on the Financial Performance of Listed Companies in Thailand

2021 ◽  
Vol 13 (16) ◽  
pp. 8920
Author(s):  
Muttanachai Suttipun ◽  
Pankaewta Lakkanawanit ◽  
Trairong Swatdikun ◽  
Wilawan Dungtripop
Keyword(s):  
Financial Performance ◽  
Negative Impact ◽  
Positive Impact ◽  
Stock Exchange ◽  
Panel Data Analysis ◽  
Descriptive Analysis ◽  
Listed Companies ◽  
Annual Reports ◽  
Corporate Social ◽  
The Impact

This study aims to: (1) investigate the amount of corporate social and environmental responsibility (CSR) spending, awards, and activities of listed companies in the Stock Exchange of Thailand (SET) and in the Market for Alternative Investment (MAI); (2) test the impact of CSR spending, awards, and financial performance activities; and (3) examine the amount of CSR spending, awards, and activities between companies with and without a CSR committee. The sample included all the listed companies in the resource industry from the SET and the MAI. The data were collected from the companies’ annual reports from 2015 to 2019. Descriptive analysis, an independent-sample t-test, a correlation matrix, and an unbalanced panel data analysis were used to analyze the data. The average level of spending per activity was 2.2964 million baht. There were, on average, 2.1741 awards and 11.4178 activities during the studied period. Moreover, there was a significant negative impact of CSR spending, and a positive impact of CSR awards and activities, on corporate financial performance. Finally, there was a significantly different amount of CSR spending, awards, and activities between the companies with and without a CSR committee. The findings of this study demonstrate that legitimacy theory can be used to explain the benefit of CSR to Thai-listed companies, although CSR is still a voluntary corporate responsibility in Thailand.

scholarly journals ANALISIS PENGARUH KINERJA KEUANGAN TERHADAP HARGA SAHAM PADA PERUSAHAAN PERBANKAN

2019 ◽  
Vol 4 (2) ◽  
pp. 151-156
Author(s):  
Nailal Husna
Keyword(s):  
Financial Performance ◽  
Stock Price ◽  
Sampling Method ◽  
Stock Exchange ◽  
Share Price ◽  
Return On Assets ◽  
Earnings Per Share ◽  
Equity Ratio

The object of this study is a banking company whose shares are listed in Indonesia Stock Exchange 2011-2014 period, and the sampling method was census. The purpose of this study was to determine the effect of the financial performance of banking shares. And the research variables are Stock Price (Y), Return on Assets (X1), Debt to Equity Ratio (X2), Price Earning Ratio (X3), Earning Per Share (X4). Based on the analysis and discussion of the results of testing the hypothesis then the conclusion is Price Earning Ratio and Earning Per share, positive and significant impact on the share price, while Return on Assets, Dept To Equity Ratio, Earnings Per share no significant effect on stock price. Keywords : Stock Price, Return on Assets, Debt To Equity ratio, Price Earning Ratio, Earnings Per Share, Bank

scholarly journals THE IMPACT ANALYSIS OF COORDINATION AGAINST THE EFFECTIVENESS OF SERVICE ONE-STOP CORPORATE ADMINISTRATION SYSTEM AREA AT PANDEGLANG, BANTEN PROVINCE

2017 ◽  
Vol 3 (2) ◽  
pp. 113
Author(s):  
Lia Muliawaty
Keyword(s):  
Path Analysis ◽  
Impact Analysis ◽  
Motor Vehicle ◽  
Descriptive Analysis ◽  
Administration System ◽  
Vehicle Registration ◽  
Registration Number ◽  
One Stop ◽  
Independent Variable ◽  
The Impact

The main problem in this research is the effectiveness of the service of motor vehicle registration number at the offices of Single Administrative System Single Roof Pandeglang Banten Province low, allegedly caused by the coordination between each unit or part has not run optimally. The method used in this research is descriptive analysis by using path analysis (path analysis) that is by seeing how big influence and independent variable to dependent variable, either influence directly or indirect influence. With this design will be measured directly or indirectly the coordination influence expressed in 7 (seven) dimensions, namely the existence of agreement and unity of understanding, the existence of agreement on the activities, the existence of obedience, the exchange of information, the presence of coordinators who can lead, the existence of information from Various parties, and the mutual respect for the effectiveness of service at the Office of Pandeglang Area Manunggal One Roof Administration System of Banten Province.The results of the research can be found that the effectiveness of Motor Vehicle Tax Service is influenced by the coordination at the office of Pandeglang Area Manunggal One Roof Administration System of Banten Province, with the percentage is 98.0%. This means that the coordination is very dominant and decisive towards the increase of tax service on the Pandeglang Area Manunggal One Roof Administration System of Banten Province. However there are also other factors that are not examined (epsilon) but determine against the tax service on Pandeglang Area Manunggal One Roof Administration System of Banten Province of 2.0%.

PHASING OUT KEROSENE SUBSIDY IN DEVELOPING COUNTRIES CASE STUDY OF INDIA AND INDONESIA

2015 ◽  
Vol 15 (1) ◽  
pp. 29
Author(s):  
Mahpud Sujai
Keyword(s):  
Developing Countries ◽  
Data Analysis ◽  
Qualitative Methods ◽  
Descriptive Analysis ◽  
State Budget ◽  
Energy Subsidies ◽  
The Government ◽  
The Impact ◽  
Alternative Solutions

Subsidy is one of the main problems that burden the budget in some developing countries. Indonesia and India have similarities in dealing with efforts to reduce energy subsidies, especially kerosene. This study aims to explain the impact of the kerosene subsidy to the state budget of India and Indonesia, to explore and propose the alternative solutions to solve the problems occurred in relation with the implementation of the kerosene subsidy in both countries and to elaborate the strategy made by the government of both countries in reducing kerosene subsidy. This study used qualitative methods to explore ways of collecting information through data analysis in various types of both primary and secondary. The analysis used in this research is descriptive analysis in which researchers performed interpretation of data. From the analysis conducted, both countries succeeded in reducing the burden of subsidies for kerosene with a variety of strategies fit with the characteristics of each country.

Privatization, Performance, and Efficiency: A Study of Indian Banks

2005 ◽  
Vol 30 (1) ◽  
pp. 7-16 ◽  
Author(s):  
Milind Sathye
Keyword(s):  
Financial Performance ◽  
Initial Public Offerings ◽  
Private Ownership ◽  
Indian Government ◽  
Return On Assets ◽  
Ex Post ◽  
Significant Difference ◽  
And Performance ◽  
Indian Banks ◽  
The Impact

Enhancing efficiency and performance of public sector banks (PSBs) is a key objective of economic reforms in many countries including India. It is believed that private ownership helps improve efficiency and performance. Accordingly, the Indian government started diluting its equity in PSBs from early 1990s in a phased manner. Has the partial privatization of Indian banks really helped improve their efficiency and performance? International evidence on impact of privatization is mixed. Though the issue is important in the Indian context, no study to the author's knowledge has addressed it so far. The present study, thus, fills an important gap. The data required for the study were obtained from Performance Highlights of Banks, a publication of the Indian Banks' Association. The author could readily obtain publications for five years — 1998-2002; his analysis is, thus, restricted to these five years. The financial performance of the banks was measured using the standard financial performance measures such as return on assets. The efficiency of banks was measured using accounting ratios, e.g., deposits per employee. Two main approaches are generally used to evaluate the impact of privatization on firm performance: ‘Synchronic’ approach in which the performance of state-owned firms is compared with the firms that were privatized or with the firms that were already in private ownership. ‘Historical’ approach, in which ex-ante and ex-post privatization performance of the same enterprise is compared. Given that the data are available for only five years, the author uses the synchronic approach. Since the dataset is not large enough to allow the use of more robust multivariate statistical procedures, he confines himself to the use of the difference of means test. This study reveals the following: Financial performance of partially privatized banks (measured by return on assets) and their efficiency (measured by three different ratios) were significantly higher than that of the fully public banks. In the matter of quality of advances (measured by the ratio of non-performing assets to net advances), significant difference was not found in these two groups. Of course, there is no quick fix for this problem. Partially privatized banks also seem to be catching up fast with fully private banks as no significant difference was found in financial performance and efficiency between them. On comparing the strategies of privatization in India with the other countries, India was found to adopt the strategy of initial public offerings like Poland. This strategy failed in Poland but seems to have succeeded in India. Gradual privatization and well-developed financial markets seem to have contributed to Indian success.

scholarly journals FINANCIAL PERFORMANCE EVALUATION OF BANKS LISTED IN MUSCAT SECURITIES MARKET, OMAN: A CAMEL’S ANALYSIS MODEL APPROACH

2021 ◽  
pp. 135-145
Keyword(s):  
Financial Performance ◽  
Descriptive Analysis ◽  
Capital Adequacy ◽  
Securities Market ◽  
Analysis Model ◽  
Management Efficiency ◽  
Asset Quality ◽  
And Control ◽  
The Impact ◽  
Model Approach

The study is to examine the financial performance of banks listed in MSM, Omanthrough CAMEL model approach. The variables are computedusing financial ratios and compare them with established standards related to the Camel's standard to find out how important it is to implement a standard in the bank and ANOVA is calculated to determine whether results are meaningful. In other words, they help to determine whether you should reject the null hypothesis or accept the alternative hypothesis.The present research study uses descriptive analysis to achieve objectives of the study.The study's aim is to find out how CAMEL components affect the financial performance of MSM-listed banks. The findings support the impact of the CAMEL parameters on commercial bank results. Capital adequacy, asset quality, management efficiency, and liquidity are considered independent variables in the CAMEL model, whereas financial output is considered a dependent variable. All banks should follow and implanting perfect strategy in how used efficiency and effectively asset to generate profit. Moreover, monitoring credit risk of banks and control it.

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