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All Journal International Journal of Economic, Technology and Social Sciences (Injects) Jurnal Publikasi Ekonomi dan Akuntansi
Muhammad Ridha Habibi
Universitas Negeri Medan
Religion Agriculture, Biological Sciences & Forestry Humanities Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Industrial & Manufacturing Engineering Public Health Social Sciences

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FACTORS AFFECTING WORKING CAPITAL NEEDS IN MANUFACTURING COMPANIES LISTED ON THE INDONESIA STOCK EXCHANGE 2015-2020 OK Sofyan Hidayat; Muhammad Ridha Habibi; La Ane; Amrullah Amrullah
International Journal of Economic, Technology and Social Sciences (Injects) Vol. 2 No. 2 (2021): October 2021
Publisher : CERED Indonesia Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (592.154 KB) | DOI: 10.53695/injects.v2i2.611

Abstract

The problem in this research is how the company manages their working capital properly with understanding the determinants of working capital for the company to avoid the risk of bankruptcy. This study aimed to examine the effect of leverage, operating cash flow, profitability, sales growth, company size, sales fluctuations, the age of the company, and cash conversion cycle to the working capital requirements individually. The population in this study are all manufacturing companies listed in Indonesia Stock Exchange asmany as 132 companies. The sampling method using purposive sumpling and obtained 80 companies as samples  in 2015-2020. The data used in this research is secondary data in the form of financial statements that are downloaded from www.idx.co.id. Data analysis technique used is multiple linear regression. The results showed that leverage, profitability, company size, and the cash conversion cycle significantly influence working capital requirements. These results indicate that the debts of the company, profitability, company size, and the cash conversion cycle, are all factors that must be considered by the company in determining the policies of proper management of working capital with under 5% significant. In connection with the pecking order theory, companies should not use too high debt if they have an advantage in the form of income, asset, and a high cash flow, which can be used to invested in working capital.
Pengaruh Leverage, Likuiditas, dan Profitabilitas terhadap Opini Audit Going Concern pada Perusahaan Properti dan Real Estate di Bursa Efek Indonesia Periode 2022–2025 Hizkia Agustina Simaremare; Muhammad Ridha Habibi; Esa Setiana; Kornelius Harefa; Erny Luxy D.Purba
Jurnal Publikasi Ekonomi dan Akuntansi Vol. 6 No. 3 (2026): September : Jurnal Publikasi Ekonomi dan Akuntansi
Publisher : Lembaga Pengembangan Kinerja Dosen

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.51903/jupea.v6i3.7548

Abstract

This study is motivated by the increasing financial pressure experienced by Indonesia's property and real estate sector due to monetary tightening, including the gradual increase in Bank Indonesia's benchmark interest rate, which has raised borrowing costs and heightened the risk of business discontinuity. Consequently, going concern audit opinion has become increasingly important as an early warning mechanism for investors, creditors, and other stakeholders. This study aims to examine the effect of leverage, liquidity, and profitability on going concern audit opinion in property and real estate companies listed on the Indonesia Stock Exchange during the 2022–2025 period. A quantitative causal research design was employed using purposive sampling, resulting in 225 observations from 59 companies after outlier elimination using the boxplot method. Data were analyzed using binary logistic regression with IBM SPSS Statistics version 26. The findings indicate that leverage has a positive and significant effect on going concern audit opinion, whereas liquidity and profitability have negative and significant effects, with profitability identified as the most dominant determinant. Furthermore, leverage, liquidity, and profitability simultaneously have a significant effect on going concern audit opinion. These findings confirm that auditors evaluate business continuity comprehensively by considering debt structure, short-term payment capacity, and earnings performance in assessing going concern uncertainty. This study provides sector-specific empirical evidence on the financial determinants of going concern audit opinions during a period of monetary tightening in Indonesia and offers practical implications for auditors, investors, and regulators in evaluating business continuity risk
Co-Authors Amrullah Amrullah Erny Luxy D.Purba Esa Setiana Hidayat, OK Sofyan Hizkia Agustina Simaremare Kornelius Harefa La Ane