The Role of Liquidity in Determining Firm Performance: An Empirical Study on Manufacturing Companies in Indonesia

Sudiyatno, Bambang; Suwarti, Titiek

doi:10.24018/ejbmr.2022.7.6.1711

Cited by 3 publications

(2 citation statements)

References 20 publications

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“…Mukhibad et al (2020) and Djazuli & Dodi (2020) further emphasized the negative impact of liquidity on debt policy and the significant effect of liquidity, solvency, and profitability on dividends. Sudiyatno & Suwarti (2022) and Laurencia & Amalia (2020) both found that liquidity plays a significant role in firm performance, with the former also highlighting the influence of capital structure and firm size. Rizal et al (2020) and Simorangkir & Adamanti (2010) focused on the impact of fiscal and monetary policies, with the former finding a positive impact on macroeconomic performance and the latter emphasizing the effectiveness of a combination of fiscal and monetary expansion.…”

Section: Introductionmentioning

confidence: 98%

Unveiling the Symphony of Economic Policies on Corporate Financial Performance: A Quantitative Revelation through SMARTPLS Analysis

Hapsari

2024

ATESTASI

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This research investigates the influence of economic stimulus policy, fiscal policy, and the solvency risk of companies on their financial performance. Utilizing a quantitative approach, the study adopts regression analysis through SMARTPLS to analyze the data. Primary data for the variables - impact of economic stimulus policy, solvency risk of companies, and fiscal policy - were gathered, along with secondary data over a five-year period pertaining to the financial performance variable. The dataset was derived from 26 manufacturing companies listed on the Indonesia Stock Exchange (BEI). The findings reveal that both economic stimulus policy and fiscal policy exert a positive and significant effect on financial performance. In contrast, the solvency risk of companies does not exhibit a significant impact. This outcome suggests that while macroeconomic policies facilitate an environment conducive to financial growth, the internal risk management and financial structuring of a company play a critical role in leveraging these external benefits. The study underscores the importance of strategic internal management and effective risk mitigation practices in enhancing and sustaining financial performance amidst varying economic policies.

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Section: Introductionmentioning

confidence: 98%

Unveiling the Symphony of Economic Policies on Corporate Financial Performance: A Quantitative Revelation through SMARTPLS Analysis

Hapsari

2024

ATESTASI

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“…Variabel penelitian meliputi kinerja perusahaan sebagai variabel dependen, struktur modal dan ukuran perusahaan sebagai variabel independen, aset operasi sebagai variabel kontrol, dan likuiditas sebagai variabel moderasi. Penelitian dilakukan terhadap 123 perusahaan manufaktur di Indonesia untuk periode 2019-2021 (Sudiyatno & Suwarti, 2022).…”

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Pengaruh Struktur Modal, Profitabilitas, Likuiditas Pasar Terhadap Nilai Perusahaan Pada Industri Manufaktur di Jawa Barat

Supriandi,

Masela

2023

akunt. keuang.

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Studi ini menyelidiki interaksi antara struktur modal, profitabilitas, likuiditas pasar, dan nilai perusahaan dalam sektor manufaktur di Jawa Barat. Tujuannya adalah untuk mendapatkan wawasan tentang bagaimana faktor-faktor ini berinteraksi dan memengaruhi nilai keseluruhan perusahaan di wilayah dan industri tertentu. Analisis ini menggunakan metode kuantitatif, berdasarkan data keuangan dan metrik yang relevan untuk sampel perusahaan manufaktur yang beroperasi di Jawa Barat sebanyak 70 perusahaan. Studi ini menguji hubungan antara struktur modal, profitabilitas, likuiditas pasar, dan nilai perusahaan melalui analisis statistik dan teknik pemodelan regresi. Hasil penelitian menunjukkan bahwa struktur modal, profitabilitas, dan likuiditas pasar berpengaruh signifikan terhadap nilai perusahaan pada industri manufaktur di Jawa Barat. Temuan berkontribusi pada literatur yang ada pada penilaian perusahaan dengan memberikan bukti empiris khusus untuk sektor manufaktur di Jawa Barat. Penelitian ini memberikan implikasi bagi pembuat kebijakan, investor, dan manajer, karena menawarkan wawasan berharga tentang faktor-faktor yang mendorong nilai perusahaan dalam industri ini, membantu pemangku kepentingan membuat keputusan dan strategi untuk meningkatkan kinerja dan daya saing.

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Assessing the Impact of Financial Characteristics on the Performance of Ghana Club 100 Companies

Arthur-Sam,

Seddighi,

Osseo-Asare Jr

2024

Business

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After a decade of reforming policy, building and developing the multi-national market in Ghana, the Ghana Investment Promotion Centre (GIPC) introduced Ghana Club 100 to recognize the top 100 performing companies in terms of their competitiveness and contribution to economic growth. We adopted a quantitative research methodology involving correlational and casual research design to assess the impact of financial characteristics on the performance of 80 listed Ghana Club 100 firms. Financial characteristics represent the independent variables measured using liquidity, financial leverage and business activity, whiles company performance represents measured using return on asset. SPSS Pearson's correlation coefficient and multiple regression were used to analyze the data gathered from the 80 listed companies. The data analysis reveals four key findings: 1/ a statistically significant positive relationship exists between leverage and performance; 2/ no statistically significant relationship exists between liquidity and performance; 3/ a statistically significant positive relationship exists between business activity and performance; and 4/ leverage, liquidity and business activity had statistically significant positive impact on firm performance. These findings contribute to knowledge by critically explaining the casual relationship between financial characteristics and firm performance with specific reference to Ghana Club 100 companies. The findings have strategic implications for the Ghanaian businesses and economy in terms of enhancing firm’s financial performance. Due to limited access to scarce resources, the scope of the study focused on Club 100 firms which represent all the companies in Ghana. Future research can be conducted on the effect of financial characteristics on the performance of non-listed companies in Ghana.

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The Role of Liquidity in Determining Firm Performance: An Empirical Study on Manufacturing Companies in Indonesia

Cited by 3 publications

References 20 publications

Unveiling the Symphony of Economic Policies on Corporate Financial Performance: A Quantitative Revelation through SMARTPLS Analysis

Unveiling the Symphony of Economic Policies on Corporate Financial Performance: A Quantitative Revelation through SMARTPLS Analysis

Pengaruh Struktur Modal, Profitabilitas, Likuiditas Pasar Terhadap Nilai Perusahaan Pada Industri Manufaktur di Jawa Barat

Assessing the Impact of Financial Characteristics on the Performance of Ghana Club 100 Companies

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