Financial Distress can be interpreted as a phase of the decline in financial conditions experienced by a company. One of the indicators is the inability of the company to pay off its debts that are due, which is caused by losses suffered by the company in several years. This study aims to analyze and predict financial distress in companies listed on the Indonesia Stock Exchange that have suffered for several years and to find out which prediction models can indicated the best financial distress. The populations in this study are manufacturing companies listed on the Indonesia Stock Exchange in 2015-2017. The sample in this study was determined based on the purposive sampling method and obtained a sample of 16 companies, the final observation in this study were 48 observations. The data in this study were analyzed using the Springate, Zmijewski, and Altman models. This study concludes that for sample analyzed by the Springate and Altman models, the majority are classified as having indicated financial distress and for those analyzed by the Zmijewski model only a small proportion classified as having financial distress. Furthemore, for the best predictive model in indicating financial distress is the Springate model
Penelitian ini bertujuan untuk mengetahui pengaruh profitabilitas, likuiditas, leverage, dan ukuran perusahaan secara parsial dan bersama-sama terhadap price earning ratiopada perusahaan manufaktur yang listing di Bursa Efek Indonesia. Strategi penelitian yang digunakan dalam penelitian ini adalah strategi penelitian asosiatif. Metoda penelitian yang digunakan dalam penelitian ini adalah metoda kuantitatif. Populasi dalam penelitian ini adalah seluruh perusahaan manufaktur go public di Bursa Efek Indonesia dengan menggunakan data laporan keuangan. Sampel yang diambil oleh peneliti adalah 30 perusahaan manufaktur yang listing di BEI dengan menggunakan data laporan keuangan berupa neraca dan laporan laba rugi pada periode tahun 2014-2016 melalui situs www.idx.co.id. Hasil penelitian menunjukkan Profitabilitas berpengaruh dan tidak signifikan terhadap price earning ratio pada perusahaan manufaktur yang listing di BEI periode tahun 2014-2016, dengan nilai signifikansi t-statistic sebesar 0.0001 > 0,05 ; Likuiditas berpengaruh dan signifikan terhadap price earning ratio pada perusahaan manufaktur yang listing di BEI periode tahun 2014-2016, dengan nilai signifikansi t-statistic sebesar 0.0019 < 0,05 ; Leverage berpengaruh dan signifikan terhadap price earning ratio pada perusahaan manufaktur yang listing di BEI periode tahun 2014-2016, dengan nilai signifikansi t-statistic sebesar 0.0013 < 0,05 ; Ukuran perusahaan berpengaruh dan tidak signifikan terhadap price earning ratio pada perusahaan manufaktur yang listing di BEI periode tahun 2014-2016, dengan nilai signifikansi t-statistic sebesar 0.2666 > 0,05 ; Berdasarkan hasil pengujian hipotesis secara simultan diperoleh nilai signifikansi F sebesar 0.000568 < 0,05 dimana profitabilitas, likuiditas, leverage dan ukuran perusahaan secara simultan berpengaruh terhadap price earning ratio pada perusahaan manufaktur yang listing di BEI periode tahun 2014-2016 artinya hipotesis terbukti berpengaruh.
This study aims to determine the Influences of Intellectual Capital Disclosure (IC); Debt to Assets Ratio (DTA); Debt Equity Ratio (DER); Company Size (Size); and Assets Turnover (ATO) to Company Profitability (Empirical Study at manufacturing company registered in Indonesian stock exchange in 2011-2015). Data analysis uses multiple linear analyses using SPSS version 22 program. Population are all Manufacturing Companies listed in the Indonesia Stock Exchange in 2011-2015, the sample is determined based on purposive sampling method with number of samples 40 companies. Data uses secondary data. Data collection use documentation method through official Indonesia stock exchange (BEI) website of at www.idx.co.id. The study's result proves simultaneously IC, DTA, DER, Size and ATO influence simultaneously to profitability of company calculated with proxy of return on assets (ROA) sig value. 0,000, F value count> F table (32,485> 2,24) while partially IC has positive and significant influence sig value. 0,022 and t count 6,566, DTA has negative and significant influence sig value. 0.001 and t arithmetic-3.497, DER has positive and significant effect sig value. 0,032 and t count 2,162, size have positive and significant influence sig value. 0.012 and t count 3.483 and ATO have positive and significant effect sig value. 0.000 and t count 4,518.
Food and beverage industry has a significant role in economic growth in Indonesia. The Ministry of Industry estimates that the growth of the food and beverage industry will slow down after becoming the main driver of industrial growth throughout 2016. The main objective of the study is to determine the effect of capital structure and liquidity towards profitability and its impact towards the financial performance of food and beverage companies in Indonesia. To achieve the objectives, the quantitative method was used and data were collected through financial statement data in Indonesia Stock Exchange. A total of 11 food and beverage companies in Indonesia were taken by using financial report data between 2012-2016. The data were analyzed using statistic package for social science version 22.0. The findings exhibited through regression analysis and path analysis, the finding revealed that there is a significance influence of liquidity towards profitability. Another finding showed that there is most significance influence of profitability towards financial performance. Furthermore, another finding revealed that indirectly capital structure through profitability has a significance influence towards financial performance and also indirectly capital structure through profitability has a significance influence towards financial performance. The finding suggests management to increase shareholder confidence by showing good company performance through level of current ratio. It also suggests investors to analyze the financial ratios, especially that affects the value of the company before making investment. Lastly, this study gives contribute in both theoretical and managerial implication to achieve greater corporate financial performance.
The purpose of this study was to examine the impact of profitability, liquidity, leverage and firm size towards price earnings ratio on Manufacturing Company in Indonesia. This research is using quantitative by studying literature method. Data were gathered using a financial statement data from Indonesia Stock Exchange from 2014 until 2016. A total 30 manufacturing companies were used to assess overall fit of the proposed model and test hypotheses using Multiple Regression Analysis. The data were analyzed using E-views version 9.0. The finding revealed that profitability, liquidity and leverage have significance influence towards price earnings ratio. Besides, firm size is not significant influence towards price earnings ratio on Manufacturing Company in Indonesia. Another finding shows all variables has simultaneously have influence towards the price earnings ratio. The finding suggests all of these variables has an impact on price earnings ratio which can be used as one of the guidelines for investors in making investment decision. Accurate stock valuations can minimize risks and helping investors earn a maximum profit. This study give contribute in both theoretical and managerial implication to achieve greater price earnings ratio that give emphasis on company specific characteristics.
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