Sari, Silvia Waning Hiyun Puspita
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Analysis Of Liquidity, Profitability, And Solvency Ratio for Measuring Business Operations in Food, Beverage and Tobacco Companies Listed on The Indonesian Stock Exchange Period 2015-2019 Lestari, Melina Budi; Sari, Silvia Waning Hiyun Puspita; Syah, Toufan Aldian
AJIRSS: Asian Journal of Innovative Research in Social Science Vol. 1 No. 3 (2022): Asian Journal of Innovative Research in Social Science
Publisher : DAS Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.53866/ajirss.v1i3.271

Abstract

This study aims to see how the development financial performance of a food, beverage, and cigarette company listed on the Indonesia Stock Exchange in 2015-2019 using the financial ratio analysis method, namely the liquidity ratio, profitability, and solvency. The financial ratios used are the Current Ratio (CR), Quick Ratio (QR), Net Profit Margin (NPM), Return on Assets (ROA), Return on Equity (ROE), Debt to Equity Ratio (DER), and Debt to Assets Ratio (DAR). Research result shows that, in general, the financial ratios of food, beverage, and cigarette companies listed on the Indonesia Stock Exchange have fluctuated. However, some of them have. Some companies that have good financial ratios can also see bad ones, how good or bad the company's financial performance is.
Sentiment investor, catering incentives, corruption, COVID-19, and dividend policy Nuansari, Shindy Dwita; Tandelilin, Eduardus; Hayatiningsih, Nur; Wihara, Dhiyan Septa; Ratnanto, Sigit; Sari, Silvia Waning Hiyun Puspita
BISMA (Bisnis dan Manajemen) Vol. 18 No. 2 (2026)
Publisher : Universitas Negeri Surabaya, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26740/bisma.v18n2.p282-303

Abstract

This study examines how corporate dividend policies are shaped by investor sentiment and behavioral factors through dividend catering theory during the COVID-19 period. Using panel data from 31 countries over 2018–2022, this study applies a quantitative approach with the SYS-GMM estimation method. The results show that catering incentives positively affect dividends in low investor sentiment conditions but negatively in high sentiment conditions. This effect becomes stronger during the COVID-19 pandemic, particularly when sentiment is low. In addition, corruption levels amplify the impact of catering incentives on dividend policy depending on investor sentiment. This study contributes by highlighting the interaction between investor sentiment, crisis conditions, and institutional environment in determining dividend decisions, offering insights for firms seeking to maintain value under changing market conditions.