ANALISIS RASIO KEUANGAN TERHADAP FINANCIAL DISTRESS DENGAN STRUKTUR KEPEMILIKAN SEBAGAI VARIABEL MODERASI

Financial distress is a steep decrease in the company's financial condition before the company went bankrupt. Financial distress can be analyzed through financial ratios and the ownership structure of the company. This study used logistic regression analysis. The sampling technique is non-probability sampling using a purposive sampling method. The study sample consisted of 70 companies on the Stock Exchange from the 2015-2017 period. Based on regression, Grover, the Springate model showed that the model can predict the value of observation. The results indicate there is sufficient evidence that tends to leverage positively affects both financial distress with Grover and Springate model, a firm's growth tends to negatively affect financial distress with the Springate model, and institutional ownership tends to weaken the influence of leverage to financial distress with Springate model. On the other hand, there is not enough evidence that the firm's growth tends to negatively affect the financial distress with the Grover model. Managerial ownership does not affect moderate leverage and growth of the firm towards better financial distress with the Grover and Springate model. Institutional ownership does not affect moderating leverage of financial distress relationship with the Grover model. Institutional ownership does not affect the firm's growth to moderate the relationship financial distress with Grover or Springate model.Keywords: Financial ratio analysis, Ownership structure, Financial distress

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FINANCIAL RATIO ANALYSIS IN PREDICTING FINANCIAL DISTRESS OF FOOD AND BEVERAGE COMPANIES WITH LOGISTIC REGRESSION

Sinergi Jurnal Ilmiah Ilmu Manajemen ◽

10.25139/sng.v11i2.4157 ◽

2021 ◽

Vol 11 (2) ◽

pp. 43-49

Author(s):

Yunia Mulyani Azis

Keyword(s):

Financial Distress ◽

Stock Exchange ◽

Sampling Technique ◽

Ratio Analysis ◽

Financial Ratio ◽

Leverage Ratio ◽

Logistics Regression ◽

Financial Ratio Analysis ◽

Food And Beverage ◽

Selection Of

The purpose of this study is to analyze the effect of financial ratios such as leverage, liquidity, activity, and profitability on the possibility of financial distress (financial distress). The population in this study are all food and beverage companies listed on the Indonesia Stock Exchange in the period 2017 - 2020 totaling 30 companies. The samples taken were 6 food and beverage companies using a purposive sampling technique, namely the selection of samples based on certain criteria. The number of observations that were processed and analyzed were 18 observations. Logistics Regression is the method used in this research. The results showed that the activity ratio and leverage ratio had a significant effect on predicting financial distress, while the liquidity ratio and profitability ratio had no significant effect on predicting financial distress..

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PENGARUH KEPEMILIKAN INSTITUSIONAL, INTELLECTUAL CAPITAL, DAN LEVERAGE TERHADAP FINANCIAL DISTRESS

JAF- Journal of Accounting and Finance ◽

10.25124/jaf.v2i2.2125 ◽

2019 ◽

Vol 2 (2) ◽

pp. 27

Author(s):

Saskhia Irving Maest Purba

Keyword(s):

Intellectual Capital ◽

Financial Distress ◽

Stock Exchange ◽

Random Effect ◽

Random Effect Model ◽

Sampling Technique ◽

Institutional Ownership ◽

Effect Model ◽

Panel Data Regression ◽

Data Regression

The purpose of this study is to determine the influence of institutional ownership (KI), intellectual capital (IC) and Leverage (DER) to financial distress (Springate) financial distress condition. Independent variables in this study are institutional ownership (KI), intellectual capital (IC) and Leverage (DER) and financial distress (Springate) partially or simultaneously. Population in this study is Manufacture companies’s sector listed on Indonesia Stock Exchange in 2014-2017. The sampling technique was using purposive sampling, obtained 128 sample data and use Panel data regression analysis using software Eviews 10. Random effect model was chosen after 3 regression panel test. Simultaneously, all the independet variables have significant effect to dependent variable (financial distress). Partially intellectual capital (IC) have negative significant effect with to financial distress. Leverage (DER) have positive significant effect to financial distress. But institutional ownership (KI) have no significant effect to financial distress. Keyword: Financial distress, Institutional Ownership, Intellectual Capital, Leverage

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Ownership Structure and Firm Value of Quoted Consumers Goods Firms in Nigeria

Journal of Accounting and Strategic Finance ◽

10.33005/jasf.v3i2.65 ◽

2020 ◽

Vol 3 (2) ◽

pp. 214-228

Author(s):

Godwin Emmanuel Oyedokun ◽

Shehu Isah ◽

Niyi Solomon Awotomilusi

Keyword(s):

Ownership Structure ◽

Consumer Goods ◽

Firm Value ◽

Stock Exchange ◽

Sampling Technique ◽

Institutional Ownership ◽

Foreign Ownership ◽

Ownership Concentration ◽

Annual Reports ◽

Managerial Ownership

This study examined the ownership structure's effect on the firms' value of quoted manufacturing firms (consumer goods) in Nigeria for 2010-2018. The total numbers of quoted consumer goods firms in the Nigeria stock exchange as of 31st December 2018 were twenty-one (21). A judgmental sampling technique was used to sample nineteen (19) consumer goods firms for the study. The study sought to examine whether ownership structure proxy by managerial Ownership, Institutional Ownership, foreign Ownership, and ownership concentration affect firms' values of quoted consumer goods in Nigeria. Data were collected from secondary sources through the annual reports and accounts of sampled consumer goods firms in Nigeria. The study adopted a panel regression technique as a tool of analysis. The result showed a negative effect of managerial ownership on firm value. While institutional Ownership, foreign Ownership, and Ownership concentration all positively affect the firm value of consumer goods firms in Nigeria. Therefore, the study recommends that the numbers of shares held by management should be reduced to increase the firm value of the listed consumer goods companies in Nigeria.

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Financial Factors and Non-Financial to Financial Distress Insurance Companies That Listed in Indonesia Stock Exchange

Budapest International Research and Critics Institute (BIRCI-Journal) Humanities and Social Sciences ◽

10.33258/birci.v4i1.1757 ◽

2021 ◽

Vol 4 (1) ◽

pp. 1305-1312

Author(s):

Liahmad Liahmad ◽

Kartika Rusnindita ◽

Yuni Putri Utami ◽

Saleh Sitompul

Keyword(s):

Financial Distress ◽

Stock Exchange ◽

Sampling Technique ◽

Institutional Ownership ◽

Cash Flows ◽

Study Data ◽

Insurance Companies ◽

Insurance Company ◽

Financial Factors ◽

Descriptive Statistical Analysis

This study aims to test the influence of financial factors in the form of liquidity, cash flow, company size, institutional ownership, earnings and the factors of non-financial form of the independent commissioner against the financial distress of insurance companies that listed in Indonesia stock Exchange. The population of this research as many as 17 of the insurance company. The sampling technique using purposive sampling method, so that the obtained 15 sample company for 4 years of observations of the years 2017 - 2020, with 60 observations of the study. Data analysis using descriptive statistical analysis and logistic regression analysis. The results show that liquidity, cash flows, institutional ownership and independent commissioner does not affect significantly to financial distress, while the method of the size of the company and profit and significant effect on financial distress.

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Exploring the internal factors influencing financial distress

Accounting ◽

10.5267/j.ac.2021.2.005 ◽

2021 ◽

pp. 791-800

Author(s):

Kuat Waluyo Jati ◽

Linda Agustina ◽

Muhammad Ihlashul Amal ◽

Indah Fajarini Sri Wahyuningruma ◽

Zulaikha Zulaikha

Keyword(s):

Firm Size ◽

Financial Distress ◽

Random Sampling ◽

Stock Exchange ◽

Sampling Technique ◽

Institutional Ownership ◽

Internal Factors ◽

Industrial Companies ◽

Factors Influencing

This study aims to examine the effects of different factors influencing on financial distress. The population of this study includes industrial companies listed on the Indonesia Stock Exchange. Samples were processed by choosing 69 companies for three years of information which leaves us to have 150 observations. The sampling technique uses purposive random sampling and data is analyzed using PLS. The results show that firm size and liquidity negatively affect the financial distress while leverage positively affects the financial distress. In addition, institutional ownership moderates liquidity towards financial distress, firm size negatively affects liquidity, and liquidity does not mediate the effect of firm size on financial distress. The conclusion of this research is that management teams can avoid financial distress if they are able to manage liquidity ratios and leverage well, both ratios must be maintained so that they would not exceed firms’ financial abilities. Companies with big amount of total assets have an advantage in competition since it is not overshadowed by the condition of financial distress and they can easily gain stakeholders’ confidence. Institutional ownership in this study seems to encourage management to take risks related to company liquidity to generate profits by utilizing long-term debt in financing its operations.

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Pengaruh Financial Leverage, Arus Kas Bebas, Profitabilitas Dan Struktur Kepemilikan Institusional Terhadap Manajemen Laba

Ratio : Reviu Akuntansi Kontemporer Indonesia ◽

10.30595/ratio.v2i1.10368 ◽

2021 ◽

Vol 2 (1) ◽

Author(s):

Astri Hardirmaningrum ◽

Hadi Pramono ◽

Eko Hariyanto ◽

Hariyanto Wibowo

Keyword(s):

Earnings Management ◽

Cash Flow ◽

Ownership Structure ◽

Stock Exchange ◽

Linear Regression Analysis ◽

Sampling Technique ◽

Institutional Ownership ◽

Free Cash Flow ◽

Financial Leverage ◽

Purposive Sampling

Penelitian ini bertujuan untuk menguji pengaruh financial leverage, arus kas bebas, profitabilitas dan struktur kepemilikan institusional terhadap manajemen laba. Sumber data penelitian ini adalah data sekunder yang berupa laporan keuangan tahunan perusahaan yang diperoleh dari website Bursa Efek Indonesia. Sampelnya adalah perusahaan makanan dan minuman yang terdaftar di Bursa Efek Indonesia (BEI) periode 2014-2019 dengan menggunakan teknik purposive sampling dan diperoleh 14 perusahaan sebagai sampel dengan 84 data amatan. Metode analisis data yang digunakan adalah analisis regresi linier berganda. Hasil penelitian ini menunjukan bahwa variabel profitabilitas berpengaruh positif terhadap manajemen laba, variabel arus kas bebas berpengaruh negatif terhadap manajemen laba. Sedangkan variabel financial leverage dan struktur kepemilikan institusional tidak memiliki pengaruh terhadap manajemen laba. This research aimed to examine the effect of financial leverage, free cash flow, profitability and institutional ownership structure on earnings management. This research's data source is secondary data in the form of company annual financial report obtained from the Indonesia Stock Exchange website. The samples are food and beverage companies listed on the Indonesia Stock Exchange during 2014-2019. The sample selection used purposive sampling technique and obtained 14 companies as samples with 84 observational data. The data analysis method used multiple linear regression analysis. This study indicates that the profitability variable has a positive effect on earnings management, the free cash flow variable has a negative effect on earnings management. While, financial leverage and institutional ownership structure variable don't affect earnings management.

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Pengaruh Rasio Keuangan dan Makroekonomi terhadap Financial Distress Perusahaan Sektor Industri Barang Konsumsi yang Terdaftar di BEI Periode 2015-2019

Jurnal Ilmu Manajemen ◽

10.26740/jim.v9n3.p1293-1307 ◽

2021 ◽

Vol 9 (3) ◽

pp. 1293-1307

Author(s):

Vynda Myllariza

Keyword(s):

Exchange Rates ◽

Consumer Goods ◽

Financial Distress ◽

Stock Exchange ◽

Sampling Technique ◽

Return On Equity ◽

Financial Ratio ◽

Industry Sector ◽

Equity Ratio ◽

Consumer Goods Industry

Financial distress is a condition that occurs in a company that is characterized by financial difficulties, and if it occurs continuously, it will cause bankruptcy, so analysis is needed to determine the factors that influence these conditions. This study aimed to determine the factors that affect the company's financial distress in the consumer goods industry sector. Predictors used as independent variables are financial ratios which include return on assets, return on equity, current ratio, debt to assets ratio, debt to equity ratio, and macroeconomics (inflation and exchange rates) to predict financial distress in companies. The type of research used is causal associative. In taking the research sample using purposive sampling technique and obtaining 26 companies in the consumer goods industry sector listed on the Indonesia Stock Exchange for the 2015-2019 period. Data analysis techniques in the form of logistic regression with SPSS. The results of this study indicate that the financial ratio variables used do not affect financial distress. In addition, macroeconomic variables, which include inflation and exchange rates, also have no significant effect on financial distress.

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PREDIKSI KEBANGKRUTAN MODEL SPRINGATE PADA INDUSTRI TELEKOMUNIKASI

JEBA (Journal of Economics and Business Aseanomics) ◽

10.33476/jeba.v3i1.740 ◽

2019 ◽

Vol 3 (1) ◽

Author(s):

Riani Fifrianti ◽

Perdana Wahyu Santosa

Keyword(s):

Financial Distress ◽

Financial Risk ◽

Sampling Method ◽

Stock Exchange ◽

Sampling Technique ◽

Financial Statements ◽

Telecommunications Industry ◽

Bankruptcy Prediction ◽

Bankruptcy Problem ◽

Financial Condition

This study purposes to analyze of corporate bankruptcy prediction of telecommunication industry in Indonesia with Springate model. The data used in the form of financial statements published by the telecommunications industry at Indonesia Stock Exchange for 2009-2013 period. The sampling technique of this study was determined by purposive sampling method for six samples from Indonesia Stock Exchange (IDX). The results using Springate model shows that two companies, PT Bakrie Telecom, Tbk and PT Smartfren, Tbk could potentially bankrupt in the future and three companies For PT Indosat, Tbk, PT XL Axiata, Tbk and PT Inovisi Infracom, Tbk are classified have financial distress problem. The company that very good results is PT Telekom Indonesia, Tbk and categorized has no bankruptcy problem. In general analysis telecommunication caompany have no good financial condition because business risk and financial risk are higher relatively than other industry.

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THE EFFECT OF OWNERSHIP STRUCTURE ON INCOME SMOOTHING

ACCRUALS ◽

10.35310/accruals.v3i1.41 ◽

2019 ◽

Vol 3 (1) ◽

pp. 73-82

Author(s):

Dudi Pratomo ◽

Kurnia Kurnia ◽

Adli Dzil Ikram

Keyword(s):

Earnings Management ◽

Ownership Structure ◽

Stock Exchange ◽

Sampling Technique ◽

Institutional Ownership ◽

Financial Statements ◽

Income Smoothing ◽

Managerial Ownership ◽

Government Ownership ◽

Control Variables

Income smoothing is an earnings management action by raising or lowering earnings to make it look more stable. This was done by company management for reasons not achieving the company's targets. In financial statements, a stable company profit illustrates that the company had good business continuity.Explained in the concept of corporate governance, institutional ownership, government ownership, and managerial ownership were believed to be able to minimize the occurrence of income smoothing. Therefore, this research was conducted to determine the effect of institutional ownership, government ownership, and managerial ownership with profitability and leverage control variables on income smoothing both simultaneously and partially in BUMN companies listed on the Indonesia Stock Exchange in 2012 - 2017.The technique used to select samples was purposive sampling technique. In the process, 10 research samples were obtained with a period of 6 years, so that 60 sample units were obtained. Then, to carry out the analysis, the analytical method used logistic regression analysis with the software used SPSS 23.0.After the analysis of this study, the results stated that simultaneous institutional ownership, government ownership, and managerial ownership with profitability control variables and leverage had a significant influence on income smoothing. Furthermore, partially the results of this study stated that government ownership had a significant effect on the negative direction of income smoothing. While the other two independent variables, namely institutional ownership and managerial ownership variables did not have a significant effect on income smoothing.

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PERAN COREPORATE SOCIAL RESPONSIBILITY TERHADAP HUBUNGAN ANTARA STRUKTUR KEPEMILIKAN DAN NILAI PERUSAHAAN

JURNAL AKUNTANSI ◽

10.37932/ja.v10i1.236 ◽

2021 ◽

Vol 10 (1) ◽

pp. 1-15

Author(s):

Muhammad Muttaqin ◽

Muhidin Muhidin

Keyword(s):

Ownership Structure ◽

Firm Value ◽

Negative Impact ◽

Stock Exchange ◽

Sampling Technique ◽

Institutional Ownership ◽

Foreign Ownership ◽

Managerial Ownership ◽

Purposive Sampling ◽

Csr Disclosure

AbstractThe research aims to examine the effect of institutional ownership, managerial ownership and foreign ownership on firm value with corporate social responbility disclosure as an mediating variable. The population of this research is the textile and garment sectors companies listed on the Indonesia Stock Exchange (IDX) in 2015 until 2019. The sampling technique using purposive sampling method with total sample 50 of 10 companies. Further this study uses data analysys through multiple linear regressions with two steps using by SPSS version 16. The result showed that ownership structure has an effect on the CSR disclosure simultaneously, other result show that ownership structure has no effect on CSR disclosure partially. The result also shows that ownership structure and CSR disclosure have affect on firm value simultaneously. Than while partially institutional ownership and foreign ownership have negative impact on firm value. Meanwhile managerial ownership and CSR disclosure has no effect on firm value, and CSR disclosure is not an mediating of structure ownership on firm value. Keywords: Structure Ownership, Institusional Ownership, Managerial Ownership, Foreign Ownership, CSR Disclosure, Firm Value. AbstrakTujuan dari penelitian ini adalah untuk menguji pengaruh kepemilikan institusional, kepemilikan manajerial dan kepemilikan asing terhadap nilai perusahaan dengan pengungkapan CSR sebagai variabel intervening. Populasi dalam penelitian ini adalah perusahaan sektor tekstil dan garmen yang terdaftar di Bursa Efek Indonesia pada tahun 2015 sampai 2019. Teknik pengambilan sampel dengan menggunakan metode purposive sampling dengan jumlah sampel 50 dari 10 perusahaan. Hasil penelitian menunjukkan bahwa secara simultan struktur kepemilikan memiliki pengaruh terhadap pengungkapan CSR, hasil penelitian lain menunjukkan secara partial struktur kepemilikan tidak memiliki pengaruh terhadap pengungkapan CSR. Hasil penelitian juga menunjukkan bahwa struktur kepemilikan dan pengungkapan CSR secara simultan memiliki pengaruh terhadap nilai perusahaan. Kemudian yang secara parsial kepemilikan institusional, dan kepemilikan asing memiliki pengaruh negatif terhadap nilai perusahaan. Sementara kepemilikan manajerial dan pengungkapan CSR tidak berpengaruh terhadap nilai perusahaan, dan pengungkapan CSR bukan sebagai mediating dari stuktur kepemilikan terhadap nilai perusahaan. Kata Kunci: Struktur Kepemilikan, Kepemilikan Institusional, Kepemilikan Manajerial, Kepemilikan Asing, Pengungkapan CSR, Nilai Perusahaan.

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