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The Effect of Sales Growth, Capital Expenditure, and Working Capital Efficiency on Indonesian-Listed-Consumer-Goods Firms’ Financial Performance with Capital Structure as Moderating Variable Youlanda Githa Dovita; Andewi Rokhmawati; Ahmad Fauzan Fathoni
Indonesian Journal of Economics, Social, and Humanities Vol 1 No 1 (2019)
Publisher : Lembaga Penelitian dan Pengabdian kepada Masyarakat Universitas Riau

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31258/ijesh.1.1.1-15

This study aims to determine the effect of sales growth, capital expenditure and working capital efficiency on financial performance which is moderated by the capital structure. The population in this study was all consumer goods industry firms listed on the Indonesia Stock Exchange in 2014-2017. Sampling in this study was based on purposive sampling and obtained as many as 35 firms. The analytical method used was Partial Least Square (PLS) analysis. The results showed that sales growth and capital expenditure do not significantly affect capital structure; working capital and capital structure has a positive and significant effect on financial performance. Meanwhile, as a moderating variable, capital structure is not able to moderate the influence of sales growth on financial performance. Capital structure weakens the effect of capital expenditure and efficiency working capital on financial performance.

COMPARATIVE ANALYSIS OF MARKET OVERREACTION IN INDONESIA AND SINGAPORE STOCK EXCHANGE 2016-2019 Mutia Meiliani; Dian Puspita; Mida Tarigan; Ahmad Fauzan Fathoni
INTERNATIONAL JOURNAL OF ECONOMICS, BUSINESS AND APPLICATIONS Vol 6, No 2 (2021)
Publisher : Universitas Riau

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31258/ijeba.6.2.19-44

This study aims to determine whether there is a market overreaction phenomenon in the Indonesia Stock Exchange which is classified as an emerging market and the Singapore Stock Exchange which is classified as a developed market. This research was conducted in a weekly period during 2016-2019. This study uses sample included in the LQ-45 index for the Indonesia Stock Exchange and the top 30 market cap for the Singapore Stock Exchange. This research found that there was a market overreaction in the Indonesia Stock Exchange, especially the loser portofolio which experienced the strongest reversal. Meanwhile, the significance value in the one sample t-test for the average cumulative abnormal return difference value is not significance. While the results of research on the Singapore Stock Exchange found no market overreaction phenomenon as indicated by a negative and insignificance average cumulative abnormal return difference. The result showed that the Indonesia Stock Exchange has not been efficient where investors tend to overreact in responding to information while investors on the Singapore Stock Exchange are rational.

THE EFFECTS OF SALES GROWTH AND TOTAL ASSETS TURN OVER ON COMPANY VALUE WITH PROFITABILITY AND DEBT POLICY AS MEDIATION VARIABLES (CASE STUDY ON TRANSPORTATION COMPANY LISTED ON THE IDX FOR 2015-2018 PERIOD) Vera Andriani; Haryetti Haryetti; Ahmad Fauzan Fathoni; Anggia Paramitha
INTERNATIONAL JOURNAL OF ECONOMICS, BUSINESS AND APPLICATIONS Vol 6, No 2 (2021)
Publisher : Universitas Riau

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31258/ijeba.6.2.93-109

This study aims to test and seek empirical evidence of the factors that influence company value. The factors tested in this study include Sales Growth and Total Asset Turn Over. Researcher adds Profitability and Debt Policy as mediating variables in this study. The population of this research is transportation companies listed on the Indonesia Stock Exchange in the 2015-2018 period. The research sample was selected using purposive sampling criteria so that 25 transportation companies were selected that were listed consecutively on the Indonesia Stock Exchange starting from the 2015-2018 period. To examine the factors that contribute to company value, this study uses path analysis and uses SPSS Statistics version 23 as an analysis tool. The results of this study indicate that Sales Growth and Total Asset Turn Over have a significant effect on Profitability, Sales Growth and Total Asset Turn Over have a significant effect on Debt Policy, Total Asset Turn Over and Debt Policies have a significant effect on Company Value. Meanwhile, Sales Growth and Profitability have no significant effect on Company Value. Debt policy as a mediating variable is able to mediate the effect of the dependent variable on the independent variable in this study. Meanwhile, Profitability as a mediating variable is not able to mediate the effect of the dependent variable on the independent variable in this study.

“MORE VALUEBLE?” PORTFOLIO MIX: ISLAMIC SOCIAL RESPONSIBILITY STOCK Herwinda Asri Wahyuni; Andewi Rokhmawati; Ahmad Fauzan Fathoni; Ifa Adina Yafiz
INTERNATIONAL JOURNAL OF ECONOMICS, BUSINESS AND APPLICATIONS Vol 6, No 2 (2021)
Publisher : Universitas Riau

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31258/ijeba.6.2.45-56

This research was conducted to analyze the optimal portfolio formation using the Single Index Model method by combining stocks included in the SRI-Kehati Index and listed on the Indonesian Sharia Stock Index (ISSI) with the aim of survival and applying sharia principles then measuring optimal portfolio performance using Sharpe Index, Treynor Index, and Jansen Alpha Index. The object of research used is stocks that are consistently included in the Sri Kehati Index and ISSI for the period December 2018 - December 2019. The results of this study show that the optimal portfolio formed has a higher return compared to the benchmark (IHSG) which is 1.99%, meanwhile, the standard deviation of the portfolio or it can be interpreted as portfolio risk is 1.1%. In performance appraisal, in addition to the Jensen Index, the optimal portfolio formed has better performance than the IHSG.

THE EFFECTS OF EXCHANGE RATE AND INTEREST SENSITIVITY, MANAGERIAL OWNERSHIP, AND INSTITUTIONAL OWNERSHIP ON FINANCIAL DISTRESS Zumaira Refni; Haryetti Haryetti; Ahmad Fauzan Fathoni
INTERNATIONAL JOURNAL OF ECONOMICS, BUSINESS AND APPLICATIONS Vol 6, No 1 (2021)
Publisher : Universitas Riau

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31258/ijeba.6.1.31-40

Financial distress is a situation where a company is unable to repay debts that are past due, both short-term debt and long-term debt. So that it can cause the company's operational activities to be disrupted and bankrupt. This study examines the effect of exchange rate sensitivity, interest rate sensitivity, managerial ownership, and institutional ownership on financial distress. The population in this study are all manufacturing companies listed on the Indonesia Stock Exchange from 2016 to 2018. From this population, this research used 62 manufacturing companies listed on the Indonesia Stock Exchange in the 2016-2018 period as samples. This research uses a logistic regression analysis method. The results showed that the variable of exchange rate sensitivity has a significant negative effect on financial distress. Interest rate sensitivity has a significant positive impact on financial distress, managerial ownership has no significant positive effect on financial distress, and institutional ownership has no significant positive effect on financial distress. This shows that companies need to pay attention to exchange rate sensitivity and interest rate sensitivity because of the higher the sensitivity level, the worse it will have on the company.

Effect of Financial Performance and Good Corporate Governance of Bond Ratings (A Case Study Companies Listed In Indonesia Stock Exchange Period 2013-2017) Dina Esensia; Ahmad Fauzan Fathoni; Haryetti Haryetti
AFEBI Management and Business Review Vol 5, No 2 (2020)
Publisher : Asosiasi Fakultas Ekonomi dan Bisnis Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47312/ambr.v5i2.249

One type of investments that are considered safe and profitable is a bond. However, this investment has a risk of the company in the form of debt default risk will also affect investor decisions. Therefore, investors need to know the potential risks to be faced with analyzing the viability of the company that became a place for investment by bond rating. In addition, investors need to see whether companies apply corporate governance (GCG) or not because by implementing good corporate governance (GCG) in the company reflects that the company is able to manage efficiently the company's financial performance, including managing the assets and returns. This study aims to examine how the influence of the financial performance and good corporate governance on bond ratings. The population in this study is a company that was listed on the Indonesia Stock Exchange in 2013-2017 as many as 555 companies with a total sample of 57 companies,Sampling technique used is purposive sampling method methods of analysis used in this study is the logistic regression analysis and the results showed that financial performance variables significant negative effect on obigasi ranked. While good corporate governance variables were significant positive effect on bond ratings.

Effect of Financial Performance and Good Corporate Governance of Bond Ratings (A Case Study Companies Listed In Indonesia Stock Exchange Period 2013-2017) Dina Esensia; Ahmad Fauzan Fathoni; Haryetti Haryetti
AFEBI Management and Business Review Vol. 5 No. 2 (2020): December
Publisher : Asosiasi Fakultas Ekonomi dan Bisnis Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47312/ambr.v5i2.249

One type of investments that are considered safe and profitable is a bond. However, this investment has a risk of the company in the form of debt default risk will also affect investor decisions. Therefore, investors need to know the potential risks to be faced with analyzing the viability of the company that became a place for investment by bond rating. In addition, investors need to see whether companies apply corporate governance (GCG) or not because by implementing good corporate governance (GCG) in the company reflects that the company is able to manage efficiently the company's financial performance, including managing the assets and returns. This study aims to examine how the influence of the financial performance and good corporate governance on bond ratings. The population in this study is a company that was listed on the Indonesia Stock Exchange in 2013-2017 as many as 555 companies with a total sample of 57 companies,Sampling technique used is purposive sampling method methods of analysis used in this study is the logistic regression analysis and the results showed that financial performance variables significant negative effect on obigasi ranked. While good corporate governance variables were significant positive effect on bond ratings.

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