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All Journal JIKA: Jurnal Ilmu Keuangan dan Perbankan Journal of Information System, Applied, Management, Accounting and Research Dinasti International Journal of Management Science eCo-Buss Dinasti International Journal of Education Management and Social Science Jurnal Ilmu Sosial, Manajemen, Akuntansi dan Bisnis Dinasti International Journal of Economics, Finance & Accounting (DIJEFA) Jurnal Teknologi dan Bisnis Jurnal Nasional Manajemen Pemasaran dan SDM Ekonam : Ekonomi, Akuntansi dan Manajemen Jurnal Ekonomi Bisnis, Manajemen dan Akuntansi (JEBMA) Jurnal Ilmiah Mahasiswa (JIMAWA) Journal of Accounting and Finance Management (JAFM) Journal of Artificial Intelligence and Digital Business Inaba of Community Services Journal

Astrin Kusumawardani

Universitas Indonesia Membangun

Author-ID : 3373196

Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Electrical & Electronics Engineering Engineering Industrial & Manufacturing Engineering Languange, Linguistic, Communication & Media Public Health Social Sciences Other

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PENGARUH SALES GROWTH (SG), CURRENT RATIO (CR), DEBT TO EQUITY RATIO (DER), TOTAL ASSETS TURN OVER (TATO), RETURN ON ASSETS (ROA) TERHADAP PRICE TO BOOK VALUE (PBV) (Studi Pada PT Indofarma Tbk. Yang Terdaftar Di BEI Periode 2012-2019) Yoyo Sudaryo; Dyah Purnamasari; Nunung Ayu Sofiati; Astrin Kusumawardani
Ekonam: Jurnal Ekonomi, Akuntansi & Manajemen Vol 2 No 1 (2020): Februari 2020
Publisher : Universitas Insan Cendekia Mandiri

ABSTRACT: Investors' consideration in investing, one of which is a high Company Value, where the value of one company is measured by Price to Book Value (PBV). Likewise, PT Indofarma Tbk, a company that was the subject of research, in the 2012-2019 period, the value of the company tended to increase, which was thought to be caused by Sales Growth (SG), Current Ratio (CR), Debt To Equity Ratio (DER) variables, Total Assets Turn Over (TATO), Return On Assets (ROA). The purpose of this study was to determine the Effect of Sales Growth (SG), Current Ratio (CR), Debt to Equity Ratio (DER), Total Assets Turn Over (TATO), Return On Assets (ROA) to Price to Book Value (PBV). The method used is descriptive and verification methods. With secondary data type sourced from www.idx.co.id. Analysis techniques used to answer the problem formulation of Sales Growth (SG), Current Ratio (CR), Debt to Equity Ratio (DER), Total Assets Turn Over (TATO), Return On Assets (ROA) and Price to Book Value (PBV) using descriptive analysis and correlation analysis (R). The results showed that: 1) Average PBV value 8.33 times, 2) Average value of SG 5.13%, 3) Average value of CR 140.94%, 4) Average value of 127.73% DER, 5) Average value average TATO 1.14%, 6) Average ROA value of 0.14%. Based on a partial verification analysis 7) SG has a negative and not significant effect on PBV with a correlation value of -0.563, 8) CR has a negative and insignificant effect on PBV with a correlation value of -0,660, 9) DER has no significant positive effect on PBV with a correlation value of 0.141, 10) TATO has a significant negative effect on PBV with a correlation value of -0.233, 11) ROA has no significant positive effect on PBV with a correlation value of 0.055. Based on simultaneous verification analysis 12) Sales Growth (SG), Current Ratio (CR), Debt to Equity Ratio (DER), Total Assets Turn Over (TATO), Return On Assets (ROA) have a not significant positive effect on Price to Book Value (PBV) with a correlation value of 0.643. Keywords: Price to Book Value (PBV), Sales Growth (SG), Current Ratio (CR), Debt to Equity Ratio (DER), Total Assets Turn Over (TATO), Return On Assets (ROA) ABSTRAK: Pertimbangan investor dalam melakukan investasi, salah satunya adalah Nilai Perusahaan yang tinggi, dimana nilai perusahaan yang salah satunya diukur dengan Price to Book Value (PBV). Demikian pula dengan PT Indofarma Tbk perusahaan yang menjadi subjek penelitian dimana pada periode 2012-2019 nilai perusahaannya cenderung meningkat yang diduga disebabkan oleh variabel Sales Growth (SG), Current Ratio (CR), Debt To Equity Ratio (DER), Total Assets Turn Over (TATO), Return On Assets (ROA). Tujuan penelitian ini untuk mengetahui Pengaruh Sales Growth (SG), Current Ratio (CR), Debt To Equity Ratio (DER), Total Assets Turn Over (TATO), Return On Assets (ROA) terhadap Price to Book Value (PBV). Metode yang digunakan adalah metode deskriptif dan verifikatif. Dengan jenis data sekunder yang bersumber dari www.idx.co.id. Teknik analisis yang digunakan untuk menjawab rumusan masalah Sales Growth (SG), Current Ratio (CR), Debt To Equity Ratio (DER), Total Assets Turn Over (TATO), Return On Assets (ROA) dan Price to Book Value (PBV) menggunakan analisis deskriptif dan analisis korelasi (R). Hasil penelitian menunjukan bahwa : 1) Nilai Rata-rata PBV 8.33 Kali, 2) Nilai Rata-rata SG 5.13%, 3) Nilai Rata-rata CR 140.94%, 4) Nilai Rata-rata DER 127.73%, 5) Nilai Rata-rata TATO 1.14%, 6) Nilai Rata-rata ROA 0.14%. Berdasarkan analisis verifikatif secara pasrsial 7) SG berpengaruh negatif dan tidak signifikan terhadap PBV dengan nilai korelasi -0,563, 8) CR berpengaruh negatif dan tidak signifikan terhadap PBV dengan nilai korelasi -0,660, 9) DER berpengaruh positif tidak signifikan terhadap PBV dengan nilai korelasi 0,141, 10) TATO berpengaruh negatif tidak siginifikan terhadapm PBV dengan nilai korelasi -0,233, 11) ROA berpengaruh positif tidak signifikan terhadap PBV dengan nilai korelasi 0,055. Berdasarkan analisis verifikatif secara simultan 12) Sales Growth (SG), Current Ratio (CR), Debt To Equity Ratio (DER), Total Assets Turn Over (TATO), Return On Assets (ROA) berpengaruh positif tidak signifikan terhadap Price to Book Value (PBV) dengan nilai korelasi 0,643. Kata Kunci : Price to Book Value (PBV), Sales Growth (SG), Current Ratio (CR), Debt To Equity Ratio (DER), Total Assets Turn Over (TATO), Return On Assets (ROA)

PENGARUH TAX RETENTION RATE (TRR), BOOK TAX DIFFERENCES (BTD) DAN EFFECTIVE TAX RATE (ETR) TERHADAP KINERJA KEUANGAN PADA PERUSAHAAN PROPERTI DAN REAL ESTATE YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2015-2019 Yoyo Sudaryo; Dyah Purnamasari; Nunung Ayu Sofiati; Astrin Kusumawardani; Tjipto Sajekti
Ekonam: Jurnal Ekonomi, Akuntansi & Manajemen Vol 2 No 2 (2020): Agustus 2020
Publisher : Universitas Insan Cendekia Mandiri

ABSTRACT; One of the measurement of company performance is financial performance. Financial performance is a formal effort that has been made by a company that can measure the company's success in generating profits. Profit is the simplest measure to assess a company's financial performance. Financial performance will also provide an overview of the efficiency of the use of funds regarding the results of obtaining profits, which can be seen after comparing net income after tax. Taxes are costs that must be incurred by the company. Therefore, companies through management always strive to minimize taxes and this effort is often referred to as tax planning. This study aims to examine the effect of tax retention rate (TRR), book tax differences (BTD) and effective tax rate (ETR) on financial performance by using a proxy measure of Net Profit Margin (NPM). The method used in this research is descriptive verification with a quantitative approach. The data used is secondary data, data collection is done through documentation and literature research on property and real estate companies listed on the Indonesia Stock Exchange in 2012-2016 with a population of 46 companies. The number of samples in this study were 18 companies which were determined using purposive sampling. Data analysis to answer the problem formulation used: descriptive analysis, inferential statistics, classical assumption test, multiple linear regression test, correlation coefficient test, determination coefficient test, and hypothesis testing using partial test (t test) and simultaneous test (f test). Data processing using the SPSS application. Based on the results of the research on the t test, it was found that TRR had a positive effect on financial performance where the tcount value of 2.773 was greater than the t table of 1.987. BTD has a positive effect on financial performance where the tcount value of 3.784 is greater than the t table of 1.987.ETR has a positive effect on financial performance where the tcount of 2.627 is greater than the t table of 1.987. Based on the results of the research on the f test, it was found that TRR, BTD, ETR had a significant effect on financial performance where Fcount was greater than 6.770 was greater than F table 3.10. Keywords: Tax Retention Rate, Book Tax Differences, Effective Tax Rate, Financial Performance

Pengaruh Current Ratio (CR) Debt To Equity Ratio (DER) Dan Net Profit Margin (NPM) Terhadap Financial Distress (Pada Perusahaan Jasa Sub Sektor Perhotelan, Restoran Dan Pariwisata Yang Terdaftar Di Bursa Efek Indonesia (BEI) Periode 2016-2020) Yoyo Sudaryo; Wiara Sanchia Grafita Ryana Devi; Dyah Purnamasari; Astrin Kusumawardani; Ana Hadiana
Ekonam: Jurnal Ekonomi, Akuntansi & Manajemen Vol 3 No 1 (2021): Februari 2021
Publisher : Universitas Insan Cendekia Mandiri

Financial Distress is a financial difficulty in a company that can lead to bankruptcy in which the company cannot fulfill its obligations and has little income. In other words, Financial Difficulty, namely the condition of the company which experienced financial difficulties before the bankruptcy occurred, so that the company had to conduct liquidation, this situation must support good management so that the company did not go bankrupt. To predict financial distress in a company, financial ratio analysis can be used. This study aims to explain the effect of Current Ratio (CR), Debt o Equity Ratio (DER) and Net Profit Margin (NPM) on Financial Distress. This research uses quantitative methods with descriptive and verification approaches. Types of secondary data and data techniques are obtained through financial reports and documentation. Data analysis to answer the problem formulation using: descriptive analysis and verification analysis such as classical assumption test, simple and multiple regression test, definite coefficient test either partially or simultaneously, determination coefficient test both partially and simultaneously and hypothesis testing either partially as well as simultaneously. The results showed that (1) Financial Distress calculated by the Altman Z score formula averaged 1,895, which means that the company is in a vulnerable condition and is experiencing financial problems and must immediately handle proper management. (2) Current Ratio (CR) an average of 117.63% <200%, this percentage indicates that they have a low enough ability to pay their short-term obligations. (3) Debt to Equity Ratio (DER) an average of 116.59%> 80% indicates a low company's ability to pay its long-term debt. (4) Net Profit Margin (NPM) an average of 15.37% <20% indicates that the company cannot generate higher profits. (5) Current Ratio (CR) has a significant effect on Financial Distress. (6) Debt to Equity Ratio (DER) has a significant effect on Financial Distress. (7) Net Profit Margin (NPM) has no significant effect on financial distress. (8) Current Ratio (CR), Debt to Equity Ratio (DER) and Net Profit Margin (NPM) have a significant effect on Financial Distress. Financial Distress yaitu suatu keadaan kesulitan keuangan pada perusahaan yang bisa menyebabkan kebangkrutan keadaan dimana perusahaan tidak bisa memenuhi kewajibannya dan memiliki pendapatan yang sedikit. Dengan kata lain Financial Distress yaitu kondisi perusahaan yang mengalami kesulitan keuangan sebelum terjadi kebangkrutan, sehingga membuat perusahaan harus melakukan likuidasi, keadaan seperti ini harus ditangani dengan manajemen yang baik agar tidak terjadi kebangkrutan pada perusahaan tersebut. Untuk memprediksi financial distress pada suatu perusahaan dapat digunakan analisis rasio keuangan. Penelitian ini bertujuan untuk menjelaskan pengaruh Current Ratio (CR), Debt to Equity Ratio (DER) dan Net Profit Margin (NPM) terhadap Financial Distress. Penelitian ini menggunakan metode kuantitatif dengan pendekatan deskriptif dan verifikatif. Jenis data sekunder dan teknik pengumpulan data didapat melalui laporan keuangan dan dokumentasi. Analisis data untuk menjawab rumusan masalah menggunakan: Analisis deskriptif dan Analisis verifikatif seperti Uji asumsi klasik, uji regresi baik secara sederhana maupun berganda, uji koefisien korelasi baik secara parsial maupun simultan, uji koefisisen determinasi baik secara parsial maupun simultan dan pengujian hipotesis baik secara parsial maupun simultan. Hasil penelitian menunjukkan bahwa (1) Financial Distress yang dihitung dengan rumus Altman Zscore rata-rata sebesar 1,895 yang berarti perusahaan sedang berada dikondisi rawan dan sedang mengalami masalah keuangan dan harus segera ditangani oleh penanganan manajemen yang tepat. (2) Current Ratio (CR) rata-rata sebesar 117,63% < 200% presentase tersebut dianggap memiliki kemampuan yang cukup rendah untuk membayar kewajiban jangka pendeknya. (3) Debt to Equity Ratio (DER) rata-rata sebesar 116,59% > 80% menunjukkan kemampuan perusahaan yang rendah untuk membayar hutang jangka panjangnya. (4) Net Profit Margin (NPM) rata-rata sebesar 15,37% < 20% menunjukkan perusahaan tidak bisa menghasilkan laba yang lebih tinggi. (5) Current Ratio (CR) berpengaruh signifikan terhadap Financial Distress. (6) Debt to Equity Ratio (DER) berpengaruh signifikan tehadap Financial Distress. (7) Net Profit Margin (NPM) tidak berpengaruh signifikan terhadap Financial Distress. (8) Current Ratio (CR), Debt to Equity Ratio (DER) dan Net Profit Margin (NPM) berpengaruh signifikan terhadap Financial Distress

DAMPAK PROFITABILITAS, RASIO LIKUIDITAS DAN RASIO LEVERAGE TERHADAP FINANCIAL DISTRESS (STUDI PADA PERUSAHAAN JASA SUB SEKTOR PROPERTY DAN REAL ESTATE DI INDONESIA Yoyo Sudaryo; Nunung Ayu Sofiati; Ita Kumaratih; Astrin Kusumawardani; Ana Hadiana; Wiara Sanchia Grafita Ryana Devi
Ekonam: Jurnal Ekonomi, Akuntansi & Manajemen Vol 3 No 2 (2021): Agustus 2021
Publisher : Universitas Insan Cendekia Mandiri

Financial distress starts from the company's inability to fulfill its obligations. Companies that have consecutively decreased, the company was in financial distress before the bankruptcy occurred. The purpose of this study was to determine the effect of profitability ratios, activity ratios and leverage ratios on financial distress in property and real estate sub-sector service companies listed on the Indonesia Stock Exchange (BEI) the research method used is a quantitative method with descriptive and verification approaches, quantitative research methods are research methods used to examine a particular population or sample. Descriptive research method is used to determine the value of the independent variable, while verification is used to determine the effect of two or more variables. The results of the t test of the Profitability Ratio have an effect on Financial Distress, and the Activity Ratio has no effect on Financial Distress, the Leverage Ratio has an effect on Financial Distress. Based on the results of the f test, it shows that the profitability ratio, activity ratio and leverage ratio simultaneously (together) have a significant effect on financial distress. Tujuan dari penelitian ini adalah untuk mengetahui pengaruh rasio profitabilitas, rasio aktivitas dan rasio leverage terhadap financial distress pada perusahaan jasa sub sektor properti dan real estate yang terdaftar di Bursa Efek Indonesia (BEI). Metode penelitian yang digunakan adalah metode kuantitatif dengan pendekatan deskriptif dan verifikatif, metode penelitian kuantitatif adalah metode penelitian yang digunakan untuk meneliti suatu populasi atau sampel tertentu. Metode penelitian deskriptif digunakan untuk mengetahui nilai variabel bebas, sedangkan verifikatif digunakan untuk mengetahui pengaruh dua variabel atau lebih. Hasil uji t Rasio Profitabilitas berpengaruh terhadap Kesulitan Keuangan, dan Rasio Aktivitas tidak berpengaruh terhadap Kesulitan Keuangan, Rasio Leverage berpengaruh terhadap Kesulitan Keuangan. Berdasarkan hasil uji f menunjukkan bahwa rasio profitabilitas, rasio aktivitas dan rasio leverage secara simultan (bersama-sama) berpengaruh signifikan terhadap financial distress.

DAMPAK PROFITABILITAS, RASIO LIKUIDITAS DAN RASIO LEVERAGE TERHADAP FINANCIAL DISTRESS PADA PERUSAHAAN JASA SUB SEKTOR PROPERTY DAN REAL ESTATE DI INDONESIA Yoyo Sudaryo; Nunung Ayu Sofiaty; Ita Kumaratih; Astrin Kusumawardani; Ana Hadiana
Ekonam: Jurnal Ekonomi, Akuntansi & Manajemen Vol 4 No 1 (2022): Februari 2022
Publisher : Universitas Insan Cendekia Mandiri

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37577/ekonam.v4i1.489

The purpose of this study was to determine the effect of profitability ratios, activity ratios and leverage ratios on financial distress in property and real estate sub-sector service companies listed on the Indonesia Stock Exchange (BEI).The research method used is a quantitative method with descriptive and verification approaches, quantitative research..The results showed the average value of each variable as follows: Financial Distress 4.52, Profitability Ratio 0.07, and Activity Ratio 17.13, Leverage Ratio 52.76. The results of the t test of the Profitability Ratio have an effect on Financial Distress, and the Activity Ratio has no effect on Financial Distress, the Leverage Ratio has an effect on Financial Distress. Based on the results of the f test, it shows that the profitability ratio, activity ratio and leverage ratio have an effect on financial distress. Tujuan penelitian ini adalah untuk mengetahui pengaruh rasio profitabilitas, rasio aktivitas dan rasio leverage terhadap financial distress pada perusahaan jasa subsektor properti dan real estate yang terdaftar di Bursa Efek Indonesia (BEI). Metode penelitian yang digunakan adalah metode kuantitatif dengan pendekatan deskriptif dan verifikatif, penelitian kuantitatif. Hasil penelitian menunjukkan nilai rata-rata masing-masing variabel sebagai berikut: Financial Distress 4,52, Profitability Ratio 0,07, dan Activity Ratio 17,13, Leverage Ratio 52,76. Hasil uji t Rasio Profitabilitas berpengaruh terhadap Kesulitan Keuangan, dan Rasio Aktivitas tidak berpengaruh terhadap Kesulitan Keuangan, Rasio Leverage berpengaruh terhadap Kesulitan Keuangan. Berdasarkan hasil uji f menunjukkan bahwa rasio profitabilitas, rasio aktivitas dan rasio leverage berpengaruh terhadap financial distress.

Co-Authors Alfarisi, Ade Salman Ana Hadiana Ana Hadiana, Ana Aris Setiyani, Aris Awaluddin Nurramdhani Ayu Sofiat, Nunung Caserio Daur, Fransisko Dedi Gumilar Delianti, Mirna Dyah Purnamasari Effendi, Yusup Egy Pratama, Egy Fauziah, Risa Firdaus, Muhammad Fajar Ihsan Muchtar, Muhammad Ita Kumaratih Kumaratih, Ita Listri Herlina Luntungan, Irving Ignatius Paul Mohamad Arfiman yosep Muhammad Ihsan Muchta Muhammad Iqbal Alamsyah Nababan, Pangihutan Saroha Nandan Limakrisna Nandia Putri, Chika Nugroho, Ilham Winar Nunung Ayu Sofiati (Efi) Pasa’pangan, Vebi Susanti Pratama, Muhamad Rizki Putri, Ariel Anggistia Risa Fauziah Salim, Hockey Saputra, M. Tegar Silpiani, Sinta Sjarif, Devyanthi Sumawidjaya, Riyandi Nur Taufik Hidayat Tirto Sakti, Anggono Raras Tjipto Sajekti Vina Merliana Wahyuni, Senni Sri Wiara Sanchia Grafita Ryana Devi Yoyo Sudaryo

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