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PENGARU ARUS KAS PENDANAAN DAN LEVERAGE TERHADAP FINANCIAL DISTRESS DENGAN PROFITABILITAS SEBAGAI VARIABEL MODERASI PADA PERUSAHAAN PROPERTI DAN REAL ESTATE PERIODE 2019-2022 YANG TERDAFTAR DI BURSA EFEK INDONESIA Sandika, Eugenius Flaviano; Kusumawardhani, Ratih; Rinofah, Risal
Jurnal Orientasi Bisnis dan Entrepreneurship (JOBS) Vol 4 No 2 (2023): DESEMBER 2023
Publisher : Lembaga Penelitian Universitas YARSI

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33476/jobs.v4i2.4159

Abstract

Sejak Maret 2020, Indonesia telah dihadapkan dengan pandemi Covid-19, yang juga merugikan perekonomian negara. Pemerintah Indonesia telah mengimplementasikan berbagai kebijakan untuk membatasi penyebaran virus, namun upaya tersebut turut berdampak negatif pada sebagian besar sektor bisnis. Banyak perusahaan mengalami kesulitan keuangan atau krisis finansial, terutama dalam sektor properti dan real estate.Tujuan penelitian ini adalah untuk mengetahui pengaruh arus kas pendanaan dan levergae terhadap financial distress,serta untuk mengetahui apakah profitabilitas mampu memoderasi pengaruh arus kas pendanaan dan leverage terhadap financial distress.Sampel pada penelitian ini menggunakan teknik purposive sampling pada perusahaan properti dan real estate yaang terdaftar di Bursa Efek Indonesia periode 2019-2022. Ada 13 perusahaaan yang dijadikan sampel pada penelitian ini.Penelitian ini menggunakan pendekatan kuantitatif.Metode analisis data menggunakan uji koefesien determinasi (R2),analisis Moderated Regression Analysis ,dan uji t (uji parsial).Adapun hasil yang didapat dalam penelitian ini adalah arus kas pendanaan tidak berpengaruh terhadap financial distress,leverage berpengaruh terhadap financial distress,profitabilitas sebagai variabel moderasi tidak mampu memoderasi pengaruh arus kas pendanaan terhadap financial distress,dan profitabilitas sebagai variabel moderasi mampu memoderasi pengaruh leverage terhadap financial distress.Penelitian ini diharapkan mampu memberikan konrtibusi agar perusahaan properti dan real estate bisa mengambil keputusan untuk mencegah kondisi financial distress.
Cash Flow, Profitability, Liquidity and Investment in Indonesia with Financial Constraint as Variable Moderating Damanudin, Ibnu; Rinofah, Risal
Jurnal Bingkai Ekonomi (JBE) Vol 5 No 1 (2020): Jurnal Bingkai Ekonomi (JBE)
Publisher : Lembaga Penelitian dan Pengabdian kepada Masyarakat (LPPM) - Institut Teknologi dan Bisnis (ITB) Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54066/jbe.v5i1.66

Abstract

The purpose of this study is to determine the sensitivity of cash flow, profitability, liquidity, on investments with financial constraints as moderating variables. In manufacture company food and beverage sub-sector company for the period 2015-2018. The population in this study are all food and beverage sub-sector companies listed on the Indonesia Stock Exchange. The observation period used are 2015-2018 or 4 years. The sample is using purposive sampling method, so that a total sample of 10 samples was obtained multiplied by the observation period for 4 years to 40 research data. Data analysis technique used is multiple linear analysis method with a significant level of 5% (0.05). The results of this study indicate that cash flow and liquidity are not reflected on investments. While the profitability variable has a significant positive effect on investment. Different results are billed when cash flow and liquidity are moderated by financial constraints, cash flow and liquidity have a greater effect on non-financial constrained companies. While profitability does not have a different effect on financial constraint or unconstraint companies.
Pengaruh Profitabilitas, Likuiditas, Solvabilitas terhadap Nilai Perusahaan Industri Jasa: Putri, Aqilla Tauhidta Arla; Wiyono, Gendro; Rinofah, Risal
Reslaj : Religion Education Social Laa Roiba Journal Vol 6 No 3 (2024): Reslaj: Religion Education Social Laa Roiba Journal
Publisher : LPPM Institut Nasional Laa Roiba Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47467/reslaj.v6i3.4581

Abstract

The Effect of Profitability, Liquidity, Solvability, on the Value of Service Industry Companies (Case Study of Building Construction Companies 2017-2021) listed on the Indonesia Stock Exchange. Aims to answer the problem of the influence of Profitability, Liquidity, Solvency on Firm Value in Building Construction Companies. In this study the method used is a quantitative approach. The population in this study were 18 building construction companies. Sampling was carried out using the non-probability method and the sampling technique was Purposive Sampling. Data analysis using the IBM SPSS application. The results of this study indicate that the variable Profitability (X1) has a significant effect on Firm Value (Y), as evidenced by the results of the t test, which is obtained from the t value 3.481 > t table 1.729 and a significance of 0.001 <0.05. Then the variable Liquidity (X2) has a significant effect on Firm Value (Y), as evidenced by the results of the t test, namely the t count value of 3.150 > t table 1.729 and a significance of 0.003 <0.05. And the Solvency variable (X3) has no effect on Firm Value (Y), as evidenced by the results of the t test, namely the t count value is 1.620 < t table 1.729 and the significance is 0.114 > 0.05. From the results of the F test it is proven that Profitability (X1), Liquidity (X2), and Solvability (X3) simultaneously influence Firm Value (Y). Keywords Profitability; Liquidity; Solvency; Firm Value
Factors Affecting Potential Company Bankruptcy During The Covid-19 Pandemic Rinofah, Risal; Kusumawardhani, Ratih; Maha Putri, Virginia Athadhita
Jurnal Keuangan dan Perbankan Vol 26, No 1 (2022): January 2022
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v26i1.6752

Abstract

The Covid-19 pandemic that occurred has damaged the Economy of Indonesia and even the world. This poses a threat to companies in various sectors. Thus, this study aims to test the role of financial ratios (current ratio, debt to asset ratio, return on asset, total asset turnover, sales growth) and macroeconomic factors (inflation, exchange rate, interest rates, and economic growth) in predicting financial distress conditions in the pharmaceutical, telecommunications, hotel and restaurant, health, financing institutions listed on the Indonesia Stock Exchange, with the research model altman Z-Score Modification as measured by methods based on multiple linear regression. The data used in this study is secondary data, in the form of company financial statements taken quarterly for 2019-2020. The results proved that the current ratio, total asset turnover, sales growth had a significant positive effect in predicting financial distress. In contrast, the debt to asset ratio had a significant negative impact, while inflation, exchange rates, interest rates, and economic growth did not affect financial distress conditions.
ANALISIS KINERJA KEUANGAN KOPERASI SIMPAN PINJAM DAN PEMBIAYAAN SYARIAH BMT ARTHA BAROKAH DI KECAMATAN IMOGIRI Zakiah, Nur; Wiyono, Gendro; Rinofah, Risal
Jurnal Ilmiah Manajemen Kesatuan Vol. 10 No. 1 (2022): JIMKES Edisi April 2022
Publisher : LPPM Institut Bisnis dan Informatika Kesatuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37641/jimkes.v10i1.910

Abstract

The research was conducted to see the development of KSPPS BMT Artha Barokah's financial performance in 2015-2019 by looking at aspects: capital, productive asset quality, efficiency, liquidity, cooperative identity as well as aspects of independence and growth. The research is descriptive quantitative, namely by analyzing financial data and then the results are presented in the form of numbers. The variables studied were the financial performance of KSPPS BMT Artha Barokah with documentation techniques. For data analysis using the instrument of the Regulation of the Deputy for Supervision of the Ministry of Cooperatives and UKM for Health Assessment of Savings and Loans Cooperatives and Sharia Financing Number 07/Per/Dep.6/IV/2016. From the research results, it is known that the financial performance of KSPPS BMT Artha Barokah in 2015-2019 is seen from: 1) The aspect of capital with the ratio of own capital to total assets is not healthy and the CAR is quite healthy; 2) The quality aspect of earning assets in the ratio of non-performing financing to the number of receivables and current financing, the ratio of risky portfolio financing is in the non-risk criteria while the PPAP ratio is doubtful; 3) The aspect of efficiency in the ratio of operational costs to services is less efficient, the ratio of fixed assets to total assets is good while the ratio of service efficiency is not good; 4) The liquidity aspect of the less liquid cash ratio and the less liquid financing to funds received ratio; 5) aspects of cooperative identity in high gross participation ratio and beneficial PEA ratio; 6) Aspects of independence and growth in low asset profitability ratios, low equity profitability ratios and less service operational independence ratios. Based on the results of the study, the financial performance of KSPPS BMT Artha Barokah was in the fairly healthy category although it had experienced a decline in several aspects.
The Influence of Financial Literacy, Credit Requirements, and Financial Report Quality on Access to Financing for Micro, Small and Medium Enterprises Resti Gustika; Rinofah, Risal; Maulida, Alfiatul
Jurnal Ilmiah Manajemen Kesatuan Vol. 12 No. 5 (2024): JIMKES Edisi September 2024
Publisher : LPPM Institut Bisnis dan Informatika Kesatuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37641/jimkes.v12i5.2772

Abstract

This study examines the influence of financial literacy, credit requirements, and the quality of financial reports on access to financing for MSMEs in the micro-trade sector in Yogyakarta City. Using a quantitative approach, data were collected from 80 MSME respondents selected through purposive sampling. Data were gathered via questionnaires with a Likert scale and analyzed using Partial Least Square (PLS) version 4.0 to evaluate the measurement and structural models. The findings reveal that financial literacy significantly influences access to financing, indicated by a T-statistic of 2.234 and a P-value of 0.026. This suggests that higher financial literacy among MSME owners facilitates easier access to financing. Credit requirements also significantly affect access, with a T-statistic of 3.259 and a P-value of 0.001, highlighting the impact of complex credit conditions on MSME financing accessibility. However, the quality of financial reports does not significantly affect access, as shown by a T-statistic of 1.057 and a P-value of 0.290, implying that financial reports are not the primary factor in credit decisions for MSMEs. This study emphasizes the importance of improving financial literacy and addressing credit requirements to enhance financing access for MSMEs.
THE INFLUENCE OF RETURN ON ASSETS, DEBT TO EQUITY RATIO, AND CURRENT RATIO ON STOCK PRICES WITH PRICE EARNING RATIO AS A MODERATION VARIABLE (Case Study of Food and Beverage Companies Listed on the Indonesian Stock Exchange 2018-2022) Retnodamayanti, Silvia; Rinofah, Risal; Sari, Pristin Prima
International Conference on Humanity Education and Society (ICHES) Vol. 3 No. 1 (2024): Third International Conference on Humanity Education and Society (ICHES)
Publisher : FORPIM PTKIS ZONA TAPAL KUDA

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

This research aims to test and understand the influence of return on assets, debt to equity ratio, and current ratio on stock prices with price earnings ratio as a moderating variable. The population in this research is all food and beverage companies listed on the Indonesia Stock Exchange in 2018-2022, namely 84 companies. The sampling technique used uses a purposive sampling method, namely a sampling technique that is carried out based on certain considerations. The data analysis method in this research is multiple regression analysis and Moderated Regression Analysis (MRA) using SPSS version 26 software. Based on the results of the hypothesis test, it is concluded that return on assets has a significant positive effect on stock prices, the debt to equity ratio has a negative but not significant effect on stock prices, the current ratio has a positive effect. but not significant to stock prices. The results of the price earnings ratio moderation test were able to moderate the influence of return on assets on stock prices, while the price earnings ratio was not able to moderate the influence of debt to equity ratio, current ratio on share prices.
The Effect Of Retained Earnings On Trading Volume Activity (TVA) With Return On Assets As A Moderation Variable Prima Sari, Pristin; Prima Putra, Ardian; Rinofah, Risal
BALANCE: Economic, Business, Management and Accounting Journal Vol 20 No 2 (2023): Juli
Publisher : UMSurabaya Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30651/blc.v20i2.17671

Abstract

Trading Volume Activity (TVA) indicates the amount of stock trading volume in a company's stock market. Companies with good stock volume and financial performance can increase stock trading volume. The research aims to empirically examine the effect of retained earnings on Trading Volume Activity (TVA) with Return On Assets (ROA) as a moderating variable. The study uses data from the 2018-2020 financial statements of companies in the consumption and construction services sector listed on IDX and analyzed using moderation regression analysis. The results show that the variable retained earnings is simultaneously significant to Trading Volume Activity (TVA) with Return On Assets (ROA) as a moderating variable. Partially retained earnings can significantly influence Trading Volume Activity (TVA), while ROA can moderate the retained earnings variable on Trading Volume Activity (TVA). The research contributes that companies can increase the amount of retained earnings and increase ROA so that trading volume can be increased. The more companies trade, the value-added received will increase
PENGARUH INTANGIBLE ASSET , DEBT TO EQUITY RATIO , DAN RETURN ON ASSET TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2014-2018 Eka Wulandari; Risal Rinofah; Mujino Mujino
Jurnal Riset Manajemen Sekolah Tinggi Ilmu Ekonomi Widya Wiwaha Program Magister Manajemen Vol. 7 No. 1 (2020): Jurnal Riset Manajemen
Publisher : Program Magister Manajemen STIE Widya Wiwaha Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (625.19 KB) | DOI: 10.32477/jrm.v7i1.186

Abstract

This study aims to analyze (1) The Effect of Intangible Assets on Firm Value. (2) The Effect of Debt to Equity Ratio on Firm Value. (3) The Effect of Return on Assets on Firm Value (4) and the effect of Intangible Asset, Debt to Equity Ratio, and Return on Assets Simultaneously Against the Firm Value in Manufacturing Companies Listed on the Indonesia Stock Exchange Period 2014-2018. This study uses a sample of 15 companies selected based on criteria, including companies that use the rules of the sharia system and experience profits in a predetermined period. Date analysis used was purposive sampling technique using multiple linear regression tests. The results of this study are positive and significant influences on the intangible asset variable on firm value, the variable debt to equity ratio has a negative and not significant effect on firm value, return on assets has a positive and significant effect on firm value, and the last is intangible assets, debt to equity ratio and return on assset influence jointly or simultaneously on the company’s value.
PENGARUH FINANCIAL TECHNOLOGY TERHADAP KEPUASAN KEUANGAN DENGAN CAPAIAN KEUANGAN SEBAGAI VARIABEL MEDIASI: STUDI KASUS PADA PEDAGANG DI PASAR BERINGHARJO YOGYAKARTA Pristin Prima Sari; Risal Rinofah
Kajian Bisnis Sekolah Tinggi Ilmu Ekonomi Widya Wiwaha Vol 27 No 2 (2019): JURNAL KAJIAN BISNIS
Publisher : Sekolah Tinggi Ilmu Ekonomi Widya Wiwaha

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (322.484 KB) | DOI: 10.32477/jkb.v27i2.56

Abstract

This study aims to investigate the mediation role of financial experience on the link between financial technology and financial satisfaction of Small Business Enterprise (SME) in Beringharjo Market in Yogyakarta. This study uses primary data and random sampling. This Study uses questionairre with likert scale. This study collects data to respondent in Beringharjo Market of Yogyakarta Special Region. The results of the study are the F test showing that financial performance can mediate the effect of using financial technology on financial satisfaction. Financial technology can improve the financial performance of small businesses and financial achievements can increase the financial satisfaction of small businesses in Beringharjo market. Thus, financial performance can mediate the influence of Financial Technology on financial satisfaction. The criteria for the role of mediation in financial performance are fully mediated, meaning that financial performance partial mediated the relationship between financial technology and financial satisfaction. This study can be used to campaign fianncial technology to small busniess entreprise (SME), to develop small business entreprise (SME), to make decision in business especially small business entreprise (SME).
Co-Authors abdul Afif faelani Abdul Aziz Suryadi Afivaturokhmah, Neila Agung, Nyoman Pendi Agus Dwi Cahya Agus Dwi Cahya Alfiatul Maulida Alfiatul Maulida Alfiatul Maulida Alfiatul Maulida, Alfiatul Alfiatul Maulinda alfiatulmaulida Alfiyansah Alveno Prakoo Nugroho Alya Tri Apriyani Amanah, Winda angreini, Duwita Anugrah Sepnu Utama Apriyani, Alya Tri Apriyanto, Ari Areza Marta Brona Areza Marta Brona Ari Apriyanto Arif Kurniawan Arum Tri Widiastuti Asa, Maria Ekardis Astari, Yola Ayu Hanasri Ayuni Bahar Sahputri Beatrixon , Maria Brastibian, Imwi Brona, Areza Marta Cahyani, Elah Ria Cindy Rahmawati Putri Utami Damanik, Johannes Maysan Damanudin, Ibnu Dede Hartanto Patarowo Dedi Muhamad Deni Kurniyanto Dhimas Nurcahyo Diah Lestari Mumpuni Dwi Agung Kriswanto Dwi Suryani Eka Wulandari Eka Wulandari Elisabet Yuli Kristanti Elva Syanistya Nur Khasanah Ema Apriyanti Ephy Syah Reza Erfika, Natalia Riski Erni Dwijayanti Fajar Ahmad Aryanto Fauzi, Fitriya Fidiastuti, Fitri Findia Idamazari Fitri Fidiastuti Fuady , Misbach Gendro Wiyono Harta Daya, Viviana Oktaviani Hasna Aini Sabrina Hasya Fatharani Heni   Nur Amrina IBN Udayana Ibnu Damanudin Iga Pramesty, Nadia Ign. Sony Kurniawan Ignatius Soni Kurniawan Ika Nur Yuliningsih Ika Nurul Fadhilah Imam Khulwani Imwi Brastibian Indra Ayu Aninda Wibowo Irfan Kurniawan Irwan Trinugroho, Irwan Islamiati, Dian Ismalia, Dhiah Alda Jajuk Herawati Jajuk Herawati Julaiha, Julaiha Julyana Widjayanti Khusni Fahrurrozi Kinasih, Ayuda Saridiva Kodi, Hutriana Krisdiyanto Krisdiyanto krisdiyanto, krisdiyanto Kurniawati, Aji Kusumawardhani, Ratih Lamak, Rositha Lusia Lema Lestari, Erika Sri Lestari, Septiana Ika Lianus, Jothsia Lista Utami Lusia Nensilya Octavia Lero Maenaka, Ardha Gunung Maha Putri, Virginia Athadhita Maria Beatrixon Sapta Maria Marsilinda Paku Marta Brona, Areza Maulana Muhammad Ferly Maulida, Alfiatula Meyzia Irestia Putri Monita B, Cantika Muhamad Imam Rusdi Muhammad Ahkam Al-Aziz Mujino Mujino Mujino Mujino Mujino Mujino Mujino Mujino Mujino Mujino, Mujino Nabila Salsabila Nadya Adelin Nina Yuliyanti Ningsih, Faturahma Novita Sari Nurindra, Nurindra Ogwu, Ibukun Yoyce Pesireron, Johannes Martin Pingky Karamoy Praduana, Veradela Restu Prahadhita Nerissa Putri Prambada Kirsaputa, Imam Pramudhita Annisa Ramadhani Pratama, Yhoga Heru Prathama Nugraha Prima Putra, Ardian Prima Sari , Pristin Prima Sari, Pristin Pristin Prima Sari Pristin Prima Sari Pristin Prima Sari Pristin Prima Sari Pristin Prima Sari Pristin Prima Sari Pristin Primasari Puspasari, Chintya Anggraini Putra, Ardian Prima Putra, Ardian Prima Putri, Aqilla Tauhidta Arla Putri, Meyzia Irestia Putri, Ulan Lestiana Rafael Erasdio Raharjo, Anisyah Rahayu Setiasri Rahayu Setiasri Raras Ayu Puspitasari Ratih Kusumawardani Ratih Kusumawardhani Ratih Kusumawardhani Ratih Kusumawardhani Ratih Kusumawardhani Ratih Kusumawardhani Ratih Kusumawardhani Ratih Kusumawardhani Ratna Dwi Astuti Resti Gustika Retno Dwi Pangesti Retnodamayanti, Silvia Reza Nurrohman Ria Rahmawati Rindi Silvine Aprilia Riskin Hidayat Riyana, Nita Rizka Dwi Aryati Roma, Heribetus Boli Romadhany, Desvyana Sahid Sahid Salma Andhika Puteri Sandika, Eugenius Flaviano Sangadji, Nursania Saputri, Ariska Rukma Sari, Pristin Prima Sari, Risa Puspita Savira, Betris Ardhea Sedera, Rakotoarisoa Maminaina Heritiana Selfi Anggraini Setiawan, Eko Agus Sherfina Tabatini Evany Shintya Nurhanifah Firdaus Singgih Prasetianto Soni Kurniawan Sri Hermuningsih Sri Hermuningsih Titi Juliani Tri Nurhayati Tyas, Hasti Nugrahaning Ulan Lestiana Putri Vionita Winda Mukti Wahyu Dianto Wahyudi, Renaldi Dwi Wati, Linda Ratna Weny Fitria Wibowo, Indra Ayu Aninda Widyastuti, Meita Lulut Wiji Astuti Winata, Wulan Yerlin Claudia Sarewo Yola Astari Zakiah, Nur