This research aims to analysis the influence of profitability ratios proxied by Return On Assets (ROA), leverage ratios proxied by Debt to Asset Ratio (DAR), liquidity ratios proxied by Current Ratio (CR) and activity ratios proxied by Total Asset Turnover (TATO) on the prediction of financial distress on service companies of hotel, restaurant and tourism sub-sector listed on the Indonesia Stock Exchange period of 2015-2019. The criteria of financial distress in research were measured using the Interest Coverage Ratio (ICR) with a value criterion of less than one. Analysis method used in this research is logistic regression. The research results show that the profitability ratio had an effect on the prediction of financial distress. While the leverage ratio, liquidity ratio and activity ratio have no effect on the prediction of financial distress.
Keywords:
Financial Distress, ROA, DAR, CR, TATO, ICR
Tujuan penelitian ini adalah untuk menganalisis financial distress menggunakan metode Altman Z-Score Modifikasi untuk memprediksi potensi kebangkrutan pada Perusahaan Transportasi yang terdaftar di Bursa Efek Indonesia (BEI) tahun 2016-2020. Variabel-variabel yang digunakan pada penelitian ini adalah Net Working Capital to Total Assets (X1), Retained Earnings to Total Assets (X2), Earning Before Interest and Tax to Total Assets (X3), dan Book Value of Equity to Book Value of Total Debt (X4). Hasil penelitian ini menunjukkan bahwa pada tahun 2016 terdapat sebanyak 17 perusahaan yang mengalami financial distress yang dimana ada 6 perusahaan transportasi darat, 4 perusahaan transportasi udara, dan 7 perusahaan transportasi laut. ditahun 2017 terdapat 22 perusahaan yang mengalami financial distress yang dimana ada 7 perusahaan transportasi darat, 4 perusahaan transportasi udara, dan 11 perusahaan transportasi laut. ditahun 2018 terdapat 21 perusahaan yang mengalami financial distress yang dimana ada 8 perusahaan transportasi darat, 3 perusahaan transportasi udara, dan 10 perusahaan transportasi laut. ditahun 2019 terdapat sebanyak 19 perusahaan yang mengalami financial distress yang dimana ada 7 perusahaan transportasi darat, 3 perusahaan transportasi udara, dan 9 perusahaan transportasi laut. dan ditahun 2020 terdapat sebanyak 19 perusahaan yang mengalami financial distress yang dimana ada 8 perusahaan transportasi darat, 4 perusahaan transportasi udara, dan 7 perusahaan transportasi laut. Pandemi covid-19 yang terjadi mempengaruhi kondisi keuangan perusahaan sehingga banyak perusahaan yang kategori distress bahkan berkategori grey area (distress atau sehat).
This study aims to examine the effect of investment and funding decisions on firm value with profitability as a mediating variable in companies included in the LQ45 index for the 2015-2019 period. The results on the t test show that the positive investment decision is not significant to profitability. The funding decision is negative and not significant to profitability. Investment decisions are positive and significant to firm value while negative funding decisions are not significant to firm value. Profitability is positive and significant to firm value. The results of the mediation test show that profitability is not able to mediate the effect of investment decisions and funding decisions on firm value.Keywords:Keputusan Investasi, Keputusan Pendanaan, Profitabilitas, Nilai Perusahaan
The purpose of this research was to examine the existence of Monday Effect, Week Four Effect, and Rogalsky Effect on stock return of LQ-45 index ini Indonesian Stock Exchange (IDX) during 2019 – 2020. The statistic methods used to test the hypotheses are Mann Whitney. The results show that Monday Effect, Week Four Effect, and Rogalsky Effect exist on stock return of LQ-45 index in IDX.Keywords :Monday Effect, Week Four Effect, Rogalsky Effect, Return
The Composite Stock Price Index (IHSG) is a description of information regarding the movements of all stock prices that affect capital market conditions and produce a trend. There are three factors that mainly influence the IHSG, namely inflation, BI interest rates, and the rupiah exchange rate. The purpose of this study was to examine the relationship between inflation, BI interest rates, rupiah exchange rate and the IHSG in the period of 2016-2020. The method in this research used quantitative methods. The results showed that inflation and BI interest rates have a negative and insignificant effect on the IHSG, while the Rupiah exchange rate has a significant negative effect on the IHSG.Keywords :IHSG, Inflasi, Suku Bunga BI, Nilai Tukar Rupiah
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