Cash Management and Bank’s Financial Performance: Evidence from selected Deposit Money Banks in Nigeria

This study empirically examined the effects and implications of cash management of DMBs in Nigeria. The variables studied were Cash to total asset, Operating cash to total asset, Investing cash to total asset, Financing cash to total asset, Bank size, Bank age, proxied for cash management and Return on Asset used to represent financial performance. Data used for this study were from secondary sources and were generated from the annual reports and accounts of the selected DMBs for the period 2014–2018. The results show that while operating cash to total asset of bank, investing cash to total asset and bank size have no significant effect on financial performance of DMBs, financing cash to total asset and bank age have a significant and positive effect on financial performance of deposit money bank (DMBs). However, cash to total asset has a significant negative effect on financial perfor-mance of banks. The study concludes that cash positions, which can lead to liquidity risk has to be managed because it has tendency to compound other risks. It further highlighted that adequate attention should be paid on the use and reserves of cash among banks in Nigeria. This study recommends that banks should adopt optimum cash management model for efficiency and effectiveness. Stringent regulatory policies in this regard must be reviewed in such a way that they can be relaxed, to encourage effective liquidity manage-ment measures.

Pendidikan Keuangan Keluarga, Kesadaran Keuangan dan Tingkat Personal Finance

The purpose of this study was to determine the effect of financial education on the family, financial education on campus, peers, financial literacy and financial awareness on the level of student personal finance. The sampling technique uses a non probability sampling technique. While the sampling method uses incidental sampling, whoever by chance or fits as a data source, then continues using the purposive sampling method, namely the sam-pling technique with the consideration of students of the Faculty of Economics in Yogya-karta who have taken Financial Management courses and who have taken courses that concentrate on Finance. From these considerations, 103 respondents. The data analysis technique uses multiple regression analysis. The results showed that financial education in the family, financial literacy and financial awareness had a significant effect on student personal finance, while financial education on campus and peers had no effect on student personal finance. DOI: https://doi.org/10.26905/afr.v3i2.5840

Pengelolaan Keuangan Daerah dan Good Governance terhadap Kinerja Satuan Kerja Perangkat Daerah

This study aims to describe regional financial management which includes: planning and budgeting, implementation and administration and accountability of regional finances; and transparency which includes transparency and accessibility; as well as the accounta-bility of regional financial reporting, the effectiveness of internal and external party super-vision, and the performance of Regional Work Units; analyze the effect of the effectiveness of financial planning, the effectiveness of budget execution control, transparency and ac-countability of financial reporting on the performance of Local Government Work Units. This type of research is explanative. The number of samples in this study were 32 respond-ents. The data collection technique used a questionnaire. The analysis technique uses de-scriptive analysis and multiple linear regression analysis. Regional financial management which includes; the effectiveness of financial planning, the budget formulation process, the characteristics of the clarity of budget targets and control have an effect on the performance of regional work units. Meanwhile, transparency and accessibility of regional financial reporting and accountability of regional financial reporting have no effect on the perfor-mance of regional work units. DOI: https://doi.org/10.26905/afr.v3i2.5503

Integrasi Dinamis Pasar Modal Indonesia dengan Pasar Modal International pada Masa Pandemi Covid-19

The Covid-19 pandemic has an impact on the world economy especially on the stock mar-ket, thus the aim of this study is to determine whether there is dynamic integration be-tween the stock markets in Indonesia with the capital market in Asia and in the world during Covid-19 pandemic. This study uses return data from the closing price of 12 stock indices, namely ASX, DOWJONES, FTSE, HANGSENG, IHSG, KLSE, KOSPI, NIK-KEI, PSEI, SET, STI, and TAIWAN from January to December 2020 that have been ana-lyzed using DCC-GARCH. The results showed that the stock markets of both Indonesia, Asia and the world were dynamically integrated due to the global crisis of the Covid-19 pandemic. The results showed that there was a contagion effect on the stock market that occurred during the period when the Covid-19 pandemic crisis occurred. This research can be a reference for investors who want to invest in stocks in Indonesia during the Covid-19 pandemic. DOI: https://doi.org/10.26905/afr.v3i2.551

Fair Value Non-Current Asset, Koneksi Politik, dan Audit Fee

This study aims to determine the effect of fair value non-current asset on the determination of audit fee and to know moderating effect of political connection between fair value non -current asset and audit fee in financial companies listed in Indonesia Stock Exchange. The method of research analysis used in this research is descriptive method. Population in this research is financial companies listed in Indonesia Stock Exchange with sample of 25 companies by using purposive sampling method in period 2016-2018. The data used is secondary data collected by documentation technique. In analyzing the data, this study used a test tool of ordinary least square (OLS) analysis and moderation regression analysis (MRA). The result of this research indicates that fair value non-current asset influence audit fee and this research show that the political connection can’t moderate of fair value non-current asset toward audit fee. DOI: https://doi.org/10.26905/afr.v3i2.4708

Pandemi Covid-19 dalam Penyajian Pelaporan Keuangan dan Keberlangsungan Usaha melalui Prediksi Kebangkrutan

The main purpose of this study is to assess and analyze the business continuity (going concern) of companies before and during the Covid-19 pandemic. The sample of this research is 45 property sector companies listed on the Indonesia Stock Exchange (BEI) for the period 2019-2020 and meet predetermined criteria. This study uses the Altman Z-Score bankruptcy prediction model to assess the business continuity of the sample companies. This research proves that there is indeed an influence from the global Covid-19 pandemic. Companies that are experiencing financial problems and have a strong potential for bankruptcy increased from 2% at the end of 2019 to 51% at the end of June 2020. DOI: https://doi.org/10.26905/afr.v3i2.5451

Kepemilikan Manajerial, Kepemilikan Institusional, Komisaris Independen, Komite Audit, dan Nilai Perusahaan

Competition between companies is getting tougher and more competitive because the cor-porate world is growing rapidly. Every company wants high company value, a company with high company value can increase shareholder prosperity. If the shareholders feel pros-perous, then the shareholders may be able to add value to their investment in the company. Good corporate governance (GCG) is one of the many factors that can affect corporate value. The purpose of this study was to examine the effect managerial ownership, institu-tional ownership, independent commissioners, and audit committees on firm value. The population used as the object of this research is the banking sub-sector listed on the Indone-sia Stock Exchange (IDX) in 2014-2018. The population of this study is 43 companies, this study was obtained by purposive sampling technique which then produced a sample of 25 companies the financial sector banking sub sector to be studied. The analysis technique used is multiple linear regression analysis. Based on data analysis and discussion it can be concluded that Managerial Ownership and Independent Commissioners do not affect the company's value. While the Institutional Ownership and Audit Committee affect the value of the company.DOI: https://doi.org/10.26905/afr.v3i2.3927

Efektivitas Investasi dan Pembiayaan Internal: Fenomena Manajer Terlalu Percaya Diri di Pasar Modal Indonesia

Overconfident managers create biases that make them overvalue their company and its investments. This study takes a sample of companies that are listed in the Indonesia Stock Exchange, for the years 2013-2017. Companies that are listed on the LQ 45 index have high liquidity so that the stock is active so it doesn't interfere with the accuracy of the research being carried out. The results showed that internal funding has a significant posi-tive relationship with company investment. This shows that the more internal financing, the greater the scale of the investment the company will make. Internal financing and overinvestment have a significant positive correlation. So that companies tend to over-invest. Internal finance has a dual role to play in investment. One side of the bias to im-prove investment efficiency by increasing the scale of investment and reducing the scale of investment, on the other hand it can cause excessive investment.DOI: https://doi.org/10.26905/afr.v3i2.3834

Apakah Profitabilitas Memediasi Pengaruh Manajemen Modal Kerja terhadap Nilai Perusahaan?

This study aims to examine the effect of working capital management on firm value with profitability as a mediating variable. This study uses a sample of 18 retail companies listed on the Indonesia Stock Exchange from 2014 to 2018. Working capital management is measured by Cash Conversion Cycle (CCC), profitability is measured by Return on Assets (ROA), and company value is measured by Tobins Q. Panel data regression is conducted to test the direct effect, followed by the Sobel test to test for the indirect effect. The results showed that working capital management increased firm value directly and indirectly through profitability. Working capital management with a shorter cycle results in greater profitability, thus driving firm value. The implication of this research is that retail companies are expected to shorten the company's cash cycle so that it has a positive impact on the company's profitability and value. DOI: https://doi.org/10.26905/afr.v3i2.5452

Good Corporate Governance, Pengungkapan Sustainability Report dan Manajemen Laba terhadap Nilai Perusahaan

This study aims to examine and provide empirical evidence of the impact of good corporate governance and sustainability report disclosure on firm value with earning management as an intervening variable. The firm value measured by price to book value, good corporate governance measured by meeting frequency of audit committee and percentage of the independent commissioner on board, sustainability report disclosure measured by the number of items disclosed divided by the items regulated in the GRI, earning management measured by discretionary accruals. The sampling technique is purposive sampling. The number of samples used in this study is 42 companies listed on the Indonesia Stock Exchange in 2018-2019. The data are analyzed using path analysis. The results showed that the audit committee has a significant influence on earning management. Sustainability report disclosure and the independent commissioner have no significance to the earning management. Sustainability report disclosure and the independent commissioner have a significant influence on firm value. Audit committee and earning management have no significant influence on firm value. Earnings management does not mediate the relationship between audit committee, independent commissioners, and sustainability report disclosure on firm value.DOI: https://doi.org/10.26905/afr.v3i2.5195