No abstract

A manufacturing company is a business entity whose main activity is to process raw materials into finished goods, therefore they have a sale value. During the covid-19 pandemic, many manufacturing companies were threatened with bankruptcy. That is because the company’s performance has decreased. The purpose of this research is to compare how big the opportunities of PT. Astra International, PT. Mandom Indonesia, PT. Gudang Garam, and PT. Sri Rejeki Isman bankruptcy as a result of covid-19 by using the Altman z-score model. Financial distress is a situation where a company experiences liquidity difficulties or the ability to fulfill its obligations. Based on the results of PT. Astra International from 2016 to 2020 in the first quarter was potentially bankruptcy, while in the second quarter the company was based on the grey area. PT. Mandom Indonesia both in the first quarter and second quarter in healthy. PT. Gudang Garam in first quarter and second quarter in the grey area. PT. Sri Rejeki Isman in the first quarter and second quarter classified as a potentially bankrupt company.

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

Penelitian ini bertujuan untuk menilai kesehatan keuangan PT Pembangunan Jaya Ancol Tbk. yang bergerak di industri pariwisata menggunakan model analisis Altman Z-Score. Penelitian ini menggunakan data keuangan PT Pembangunan Jaya Ancol Tbk selama triwulan I tahun 2018 sampai triwulan I tahun 2020. Hasil secara keseluruhan menunjukkan bahwa kesehatan perusahaan berfluktuatif. Secara khusus, pada triwulan IV tahun 2019 (sebelum pandemi Covid-19), hasil menunjukkan bahwa perusahaan dalam kategori sehat. Sedangkan pada triwulan I tahun 2020 (selama pandemi Covid-19), hasil menunjukkan bahwa perusahaan dalam kategori tidak sehat. Hasil menunjukkan bahwa pandemi Covid-19 berdampak negatif bagi kesehatan perusahaan yang bergerak pada industri pariwisata

The classic problem faced by MSMEs is limited access to funds from banks. This makes MSMEs to look for alternative strategy, one of which is through financial bootstrapping. This study aimed to examine the effect of financial bootstrapping on the performance of MSMEs with financial literacy as a moderator. The research sample were 38 MSME owners in Salatiga City, which were tested by Moderated Regression Analysis (MRA). The results showed that financial bootstrapping had a negative effect on the performance of MSMEs and the moderating role of financial literacy were proven. This means that when financial bootstrapping is supported by financial literacy from business actors, business performance will increase.