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Determinants of Financial Performance of State-Owned Enterprises in Indonesia and Thailand Nugroho, Prihasantyo Siswo; Rozak, Hasan Abdul; Bhandari, Rahul; Rusli, Mohamad Saufi Che; Srisuk, Prattana; Pratiwi, Sinta Ratna
Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE) Vol 6 No 3 (2023): Sharia Economics
Publisher : Sharia Economics Department Universitas KH. Abdul Chalim, Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/iijse.v6i3.5526

Abstract

The purpose of this study is to analyze and present empirical data on the effects of institutional ownership, a board of independent commissioners, a board of directors, an audit committee, and managerial ownership on the financial performance of state-owned companies in Indonesia and Thailand that are listed on the Indonesia Stock Exchange (IDX) and the Stock Exchange of Thailand (SET) from 2014 to 2021. Purposive sampling was used to gather 120 samples for the study, including 32 samples in Thailand and 120 samples in Indonesia. The data analysis technique used in this study is multiple regression analysis. The results of this study show that institutional ownership harms the financial performance of state-owned businesses in Thailand and Indonesia, the audit committee has a positive effect on that performance, and the board of directors hurts that performance.
Analysis of Factors Affecting the Level of Cash Holdings on Non-Financial Companies Rahmadhani, Sari; Taswan, Taswan; Bhandari, Rahul; Rusli, Muhamad Saufi Che; Astillero, Marlon Rael; Irawan, Nico; Miftakhurniyati, Miftakhurniyati
Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE) Vol 6 No 3 (2023): Sharia Economics
Publisher : Sharia Economics Department Universitas KH. Abdul Chalim, Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/iijse.v6i3.5527

Abstract

The existence of cash in a company's financial balance sheet is an important component. Without cash, the company's activities will not be able to run. This research aims to analyze and provide empirical evidence regarding the influence of growth opportunity, net working capital, cash conversion cycle, cash flow, and firm size on cash holding in non-financial companies listed on the Indonesia Stock Exchange, Stock Exchange of Thailand and National Stock Exchange of India in 2018-2022. This research uses secondary data collected. The data used is non-financial company financial report data from 2018-2022. The sample for this research was taken using a purposive sampling technique, namely determining samples that met certain criteria so that 269 companies were used as samples in this research. The research data was then analyzed using Partial Least Square (PLS-SEM). Based on the test results using statistical tests, it shows that the growth opportunity and firm size variables have a significant negative effect on cash holding, the net working capital and cash flow variables have a significant positive effect, while the cash conversion cycle variable does not affect cash holding.