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Pengaruh Financial Leverage terhadap Financial Performance pada Sektor Industri Manufaktur yang Terdaftar di Bursa Efek Indonesia (BEI) Periode 2015 Rivaldy Februansyah; Ika Yanuarti
Ultima Management : Jurnal Ilmu Manajemen Vol 9 No 2 (2017): Ultima Management : Jurnal Ilmu Manajemen
Publisher : Universitas Multimedia Nusantara

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (974.628 KB) | DOI: 10.31937/manajemen.v9i2.719

Abstract

The manufacturing sector is one of the most dominant economic sectors in in achieving growth and development in Indonesia. It needs adequate fund to develop its business. The sources of fund are from internal and external. The firm usually optimized the usage of internal fund prior to external fund. The internal fund comes from equity while the external funds are from debt and stock. Debt is also known as financial leverage. There is a phenomenon that the usage of debt increased the firm’s financial performance, since interest on debt could lower the payment of tax (tax shield). On the other side, the higher the financial leverage the higher the risk of bankruptcy. This research aims to analyze whether financial leverage has an influence on financial performance in the manufacturing sector listed on the Indonesia Stock Exchange (IDX) period 2015. The method of analysis used in this research is multiple linear regression analysis. This research uses quantitative approach with a sample of 140 listed companies in the manufacturing industry. The firm’s financial performance could be measured by the financial ratios. Financial Leverage ratios are ratios that measure the ability of firm’s to meet its financial obligation and the level of usage debt as compared to equity. There are several financial leverage ratios that used in this research, such as Debt Ratio (DR), Debt to Equity Ratio (DER), Interest Coverage Ratio (ICR), and Long Term Debt Ratio (LTDR). Financial performance indicates the ability of firm to generate profit and measured by Profitability Ratio. Return on Asset (ROA) is one of the Profitability Ratio. The statistical result shows that Debt Ratio (DR) negatively affect Return on Asset (ROA) and Interest Coverage Ratio (ICR) positively affect Return on Asset (ROA). Meanwhile, Debt to Equity Ratio (DER) and Long Term Debt Ratio (LTDR) did not affect Return on Asset (ROA). On the other hand, result shows that Debt Ratio (DR), Debt to Equity Ratio (DER), Interest Coverage Ratio (ICR), and Long Term Debt Ratio (LTDR) affect Return on Asset (ROA) simultaneously. Keywords: Financial Leverage, Debt Ratio (DR), Debt to Equity Ratio (DER), Interest Coverage Ratio (ICR), Long Term Debt Ratio (LTDR), Financial Performance, Return on Assets (ROA)
Startup Bisnis Sebagai Alaternatif Investasi Ika Yanuarti; Helena Dewi
Ultima Management : Jurnal Ilmu Manajemen Vol 10 No 2 (2018): Ultima Management : Jurnal Ilmu Manajemen
Publisher : Universitas Multimedia Nusantara

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (3488.51 KB) | DOI: 10.31937/manajemen.v10i2.979

Abstract

Abstract The main purpose of the investment activity is to obtain profits for both the company and the investor. To generate profits for investors, the company requires initial capital to manage its operational to do business. In general, investors will make investment decisions based on the intrinsic value of the company or based on the growth of the company’s profitability from the previous period. To measure those reference, investors needs historical data of financial reports as a baseline to calculate and for comparison. The barriers for startup companies are the lack or unavailability of historical financial data due to the age of startups more likely in the early stages (less than or equal to one year). This research uses the method of discounted cash flows based on the company's financial report. The rates of return to discount the cashflow are based on return from real assets, such as gold and property and stock price as financial asset. The result shows that the company is good enough to be one of investment alternative since its net present value is positive for all rate of return and its payback period is relatively short. Key words Discounted Cash flow, Intrinsic Value, Startup Company, Angel Investors
Aplikasi Penjadwalan Pasien Online SIPURA pada Puskesmas Keranggan, Kabupaten Tangerang Selatan Florentina Kurniasari; Ika Yanuarti; Farica Perdana Putri; Purnamaningsih Purnamaningsih; Elissa Dwi Lestari; Andy Firmansyah
Prosiding Konferensi Nasional Pengabdian Kepada Masyarakat dan Corporate Social Responsibility (PKM-CSR) Vol 3 (2020): Peran Perguruan Tinggi dan Dunia Usaha Dalam Pemberdayaan Masyarakat Untuk Menyongsong
Publisher : Asosiasi Sinergi Pengabdi dan Pemberdaya Indonesia (ASPPI)

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (363.244 KB) | DOI: 10.37695/pkmcsr.v3i0.722

Abstract

Kebutuhan masyarakat akan layanan kesehatan sangat tergantung pada keberadaan Puskesmas dikarenakan lokasinya yang mudah dijangkau, biaya yang murah atau bahkan gratis dengan pelayanan yang memadai meskipun terkadang Puskesmas juga memiliki keterbatasan dalam jumlah sumber daya yang dimiliki. Kegiatan PkM yang dilakukan oleh tim dosen UMN ini adalah merupakan solusi dalam merancang, mengimplementasikan sekaligus melakukan pendampingan bagi masyarakat Keranggan maupun bagi pihak internal Puskesmas Keranggan berupa penjadwalan pasien secara online. Sistem aplikasi ini dapat diunduh secara gratis melalui aplikasi Android sistem integrasi layanan kesehatan SIPURA. Aplikasi penjadwalan pasien online ini diharapkan dapat meningkatkan kualitas pelayanan kesehatan yang diberikan oleh Puskesmas Keranggan, dimana pasien harus melakukan reservasi secara online dan mengurangi waktu tunggu selaras dengan kebijakan Social Distancing di saat pandemic Covid 19 ini.
APLIKASI ALTMAN’S Z-SCORE UNTUK MEMPREDIKSI KEPAILITAN PADA PERUSAHAAN YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2008-2017 Andreas Anggara Anindyajati; Ika Yanuarti
Jurnal Bina Manajemen Vol 7 No 1 (2018): Jurnal Bina Manajemen Vol.7 No.1 September 2018
Publisher : STIE Wiyatamandala

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (727.247 KB)

Abstract

Altman’s Z-Score is a mathematical model consists of four to five financial variables’ that can be used by investor and company’s management to predict company’s bankruptcy. This study aims to find out how accurate the Altman Z”-Score in predicting bankruptcy of a company in Indonesia in the period 2008 until 2017. The result is Altman’s Z”-Score prediction is able to reach 75% with the total population of 32. The population in this research is divided into two groups, the first group is companies that go bankrupt and delisted from the Indonesia Stock Exchange named “class A”, the second group consist companies that are still listed in Exchange is named “class B”. A total of eight bankrupt companies are incorporated in class A, and class B becomes a “mirror” for class A that contains companies with similar characteristics. This research found that are some variables of Altman’s Z”-Score that can be used as early signs of company’s bankruptcy, that has negative values of retained earnings, cannot produce a positive EBIT, and have debt quite high. The author hopes the result of this study can be useful for investor to save their investment and company’s management in order to save the company and avoid bankruptcy.