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Journal : Media Mahardhika

PENGARUH STRATEGI DIVERSIFIKASI DAN KEPEMILIKAN MANAJERIAL TERHADAP KINERJA KEUANGAN Violetta Bella D. Glasius; Marini Purwanto
Media Mahardhika Vol. 20 No. 1 (2021): September 2021
Publisher : STIE Mahardhika

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29062/mahardika.v20i1.327

Abstract

The emergence of the Asean Economic Community (AEC) has an impact on the wider openness of trade between countries so that competition between companies increases. Companies are looking for ways to improve its financial performance so that it can compete among the other competitors. Diversification strategies and managerial ownership can be applied by companies in improving the company's financial performance. Diversification strategy is a strategy that can be used to develop a business, expand market share, and increase competitiveness. Managerial ownership can be used to motivate managerial performance in improving financial performance. This study aims to analyze the effect of diversification strategies and managerial ownership on financial performance. The object this research is using manufacturing companies listed in Indonesia Stock Exchange (IDX) in 2016-2019. This research is a quantitative research with hypothesis testing. The sample used this study were 103 manufacturing companies selected using purposive sampling technique and using multiple linear regression analysis techniques. The results of this study prove that diversification strategy and managerial ownership has no effect on financial performance. The contribution of this research is as additional information regarding the effect of diversification strategies and managerial ownership on financial performance. Limitations of this study is the researchers only collected samples from the official website of the IDX and only use the research object manufacturing company. It is expected that further research can collect data not only on the IDX website but from the company's website and further research is expected to develop a research object.
PENGARUH DETERMINAN FINANCIAL DISTRESS PADA SEKTOR MAKANAN DAN MINUMAN Nathania Ardelia; Marini Purwanto
Media Mahardhika Vol. 22 No. 1 (2023): September 2023
Publisher : STIE Mahardhika

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29062/mahardika.v22i1.615

Abstract

Macroeconomics were shaken by pandemic Covid-19. The food and beverage sector was most affected by pandemic. The worst scenario is that they got financial distress which can lead to bankruptcy. This study aims to analyze the influence of Current Ratio (CR), Debt to Equity Ratio (DER), Return on Assets (ROA), Institutional Ownership (KI), and Composition of Independent Commissioners (KKI), and Company Size as a control variable to Financial Distress. The object of this research is the food and beverage sector listed on the IDX for the 2019–2021 period. The sample in this study was 50 companies were selected using purposive sampling technique. Data is obtained through the company's annual report on IDX or the company's official website. The data analysis technique used is multiple linear analysis. The results of the study show that ROA has a significant negative effect on FD. CR, KI, and UP have no significant negative effect on FD. DER and KKI have no significant positive effect on FD. ROA will show the company's ability to generate profits, where a negative profit value will signal that the company is experiencing financial difficulties. Companies will use profit as the main funding, so that a low ROA value will indicate a large need for external funding where the high level of risk and return expected by external parties. ABSTRAK Kondisi perekonomian makro diguncang dengan adanya pandemi Covid-19 pada tahun 2019. Sektor makanan dan minuman merupakan sektor yang paling terdampak pandemi. Skenario terburuknya perusahaan mengalami kesulitan keuangan (Financial Distress) yang dapat menyebabkan kebangkrutan. Penelitian ini bertujuan untuk menganalisis pengaruh Current Ratio (CR), Debt to Equity Ratio (DER), Return on Asset (ROA), Kepemilikan Institusional (KI), dan Komposisi Komisaris Independen (KKI), dan Ukuran Perusahaan (UP) sebagai variabel kontol terhadap Financial Distress (FD). Objek penelitian ini adalah sektor makanan dan minuman yang terdaftar di BEI periode 2019–2021. Sampel dalam penelitian sebanyak 50 perusahaan dipilih menggunakan teknik purposive sampling. Data diperoleh melalui laporan tahunan perusahaan yang berada di BEI atau situs resmi perusahaan. Teknik analisis data yang digunakan adalah analisis linier berganda. Hasil penelitian menunjukan bahwa ROA berpengaruh negatif signifikan terhadap FD. CR, KI, dan UP memiliki pengaruh negatif tidak signifikan terhadap FD. DER dan KKI memiliki pengaruh positif tidak signifikan terhadap FD. ROA akan menunjukan kemampuan perusahaan dalam menghasilkan laba, dimana nilai laba negatif akan memberikan sinyal bahwa perusahaan mengalami kesulitan keuangan. Perusahaan akan menggunakan laba sebagai pendanaan utama, sehingga rendahnya nilai ROA akan menunjukan besarnya kebutuhan pendanaan eksternal dimana tingginya tingkat risiko dan return yang diharapkan oleh pihak eksternal.