Golden Ratio of Finance Management
Golden Ratio of Finance Management (GRFM) encourages courageous and bold new ideas, focusing on contribution, theoretical, managerial, and social life implications. Golden Ratio of Finance Management (GRFM) welcomes papers that are based on human resources management for example: Accounting and Financial Reporting, Alternative Investments, Asset Pricing, Bank Solvency and Capital Structure, Banking Efficiency, Banking Regulation, Behavioural Finance, Commodity and Energy Markets, Corporate Finance, Corporate Governance and Ethics, Credit Rating, Derivative Pricing and Hedging, Empirical Finance, Experimental finance, Financial Applications of Decision Theory or Game Theory, Financial Applications of Simulation or Numerical Methods, Financial Economics, Financial Engineering, Financial Forecasting, Financial mathematics, Financial Risk Management and Analysis, Financial services, Financial theory, Islamic Finance, Islamic Banking, Personal finance, Portfolio Optimization and Trading, Public finance, Regulation of Financial Markets and Institutions., Stochastic Models for Asset and Instrument Prices, Systemic Risk
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<![CDATA[The Bank Soundness in Indonesia: Risk and Corporate Governance ]]>
<![CDATA[Oppusunggu, Lis Sintha]]>;
<![CDATA[Simbolon, Ika Pratiwi]]>
<![CDATA[ Golden Ratio of Finance Management Vol. 1 No. 1 (2021): October - March ]]>
Publisher : <![CDATA[Manunggal Halim Jaya ]]>
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DOI: 10.52970/grfm.v1i1.96
<![CDATA[This study aims to provide the evidence associated with the growth of corporate governance in crisis. This research is a type of literature study with secondary data (ROA and LDR) period January 2015–December 2019. The analysis is by using descriptive research with the support of theories and the findings from previous studies. Return on Assets (ROA) has increased and decreased for several periods and Loan to Deposit Ratio (LDR). Profitability with ROA decreased by 0.35% from 2.82% in January 2015 to 2.47% in December 2019. As measured by ROA, banking performance declines to make banks vulnerable to a crisis. Banks that have a high LDR potentially have liquidity risk. This study provides descriptive statistics that describe the potential of high LDR in the future since there's a sharp trend for the increasing value of LDR. LDR increased as much as 5.95% from 88.48% in January 2015 to 94.43% in December 2019. Liquidity risk continues to rise to make banks vulnerable to a crisis. This study provides several findings from previous research regarding standard corporate governance and risk governance in the financial crisis to mitigate those risks. Evaluating formal corporate management and risk governance can lead to optimal financial soundness.]]>
<![CDATA[Comparison of Sharia Stock Prices and Trading Volumes Before and During COVID-19 ]]>
<![CDATA[Ameliana Yunus, Yana]]>
<![CDATA[ Golden Ratio of Finance Management Vol. 1 No. 1 (2021): October - March ]]>
Publisher : <![CDATA[Manunggal Halim Jaya ]]>
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Full PDF (486.76 KB)
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DOI: 10.52970/grfm.v1i1.111
<![CDATA[Before making an investment, entrepreneurs or investors must consider the benefits and financial risks obtained. So, investors need to take action in investing, meaning that investors need to form a portfolio by selecting several assets so that financial risk can be minimized without reducing the expected. The COVID-19 pandemic has significantly impacted the economy, especially investors, informing an optimal portfolio. This study aims to determine the optimal portfolio formation during the COVID-19 pandemic. In this study measurement, we used variables in the form of stock prices and stock trading volumes before and during COVID-19 pandemic. This study shows a comparison, but not so significant, between stock prices before and during the pandemic. Based on the survey conducted, the following results were found, i.e., first, shows an insignificant difference between prices before and after the rights issue announcement. The stock trading volume indicates a significant difference between the stock trading volume before and after the rights issue; trading volume increases after the information of the rights issue. By implementing companies affected by COVID-19 pandemic, we can watch the prices that occur around the announcement date. Investors can make a reason about their investments in shares of issuers affected by COVID-19 pandemic.]]>
<![CDATA[Analysis of the Effect of Earnings per share, Price earning ratio and Price to book value on the stock prices of state-owned enterprises ]]>
<![CDATA[Sari, Ratna]]>
<![CDATA[ Golden Ratio of Finance Management Vol. 1 No. 1 (2021): October - March ]]>
Publisher : <![CDATA[Manunggal Halim Jaya ]]>
Show Abstract
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Full PDF (411.353 KB)
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DOI: 10.52970/grfm.v1i1.117
<![CDATA[This study aims to (1) determine the effect of earnings per share on stock prices, (2) determine the effect of price-earnings ratio on stock prices, (3 determine the effect of price to book value on stock prices, (4) find out whether earnings per share, price earning ratio, and price to book value have a simultaneous effect on stock prices. This study uses secondary data through data sources and the Indonesian stock exchange that have been published by companies, as many as nine companies within five years. This research was conducted within the research period. From August to October 2020. Methods: the analysis used is multiple linear regression analysis, classical assumption test, partial test, simultaneous test, and coefficient of determination. The data were analyzed using the Statistical Product and Service Solution (SPSS) 23 software program. The results of this study state that (1) Earning Per Share has a positive and significant effect on stock prices, (2) price earning ratio has a positive and significant effect on stock prices, (3) price to book value has a positive and significant effect on stock prices, (4) Earning Per Share, price earning ratio, debt to equity, price to book value simultaneously affects the stock price. Therefore, construction companies are expected to improve their performance to increase stock prices further.]]>
<![CDATA[The Regression Effect of Capital Structure and Firm Growth on the Firm value ]]>
<![CDATA[Amin, Moh.]]>
<![CDATA[ Golden Ratio of Finance Management Vol. 1 No. 1 (2021): October - March ]]>
Publisher : <![CDATA[Manunggal Halim Jaya ]]>
Show Abstract
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DOI: 10.52970/grfm.v1i1.202
<![CDATA[This study aims to determine and analyze the effects of capital structure, firm growth, and profitability on the firm value on the IDX. The population in this study were all manufacturing companies in the consumer goods industry sector, as many as 42 firms, and the number of samples was as many as 12 firms using the purposive sampling method. This study uses secondary data derived from the annual financial statements of manufacturing companies listed on the IDX. The data were analyzed using SPSS program. The results of this study indicate that capital structure and profitability have a negative and insignificant effect on the firm value on the IDX. The firm's growth has a positive and negligible impact on the firm value on the IDX. Trade Off Theory explains that if the position of the capital structure is below the optimal point, any additional debt will increase the firm's value. On the other hand, if the position of the capital structure is above the optimal threshold, any additional debt will reduce the firm's value. Statistically, the capital structure has a negative and insignificant effect on the firm value in the consumer goods industry sector listed on the IDX.]]>
<![CDATA[Comparison of Financial Performance Before and During COVID-19: Case Study of Hospitality Business, Indonesia ]]>
<![CDATA[Malikah, Anik]]>
<![CDATA[ Golden Ratio of Finance Management Vol. 1 No. 1 (2021): October - March ]]>
Publisher : <![CDATA[Manunggal Halim Jaya ]]>
Show Abstract
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Download Original
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Check in Google Scholar
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DOI: 10.52970/grfm.v1i1.204
<![CDATA[This study aims to determine and analyze whether there are differences between financial performance before and during the COVID-19 pandemic in hotel companies listed on the Indonesia Stock Exchange for the 2019-2020 period. The financial ratios used are liquidity ratios, solvency ratios, activity ratios, and profitability ratios. The population in this study is an industrial service company engaged in the hospitality sector for the 2019-2020 period. Sampling was done by the purposive sampling method. So, we obtained seven companies as samples. The data analysis method used is the paired sample t-test. The study result states First, the liquidity ratio of companies engaged in the hospitality sector is significantly different. Second, the solvency ratio of companies engaged in the hospitality sector did not differ significantly. Third, the activity ratio of companies engaged in the hospitality sector did not differ significantly. Fouth, the profitability ratios of companies engaged in the hospitality sector were not significantly different. This means that there is a difference in the company's profitability ratios. However, it did not have a significant effect before and during the COVID-19. This is seen from the analysis of the solvency ratios, which show that the three ratios used have a downward trend.]]>
<![CDATA[The Bank Soundness in Indonesia: Risk and Corporate Governance ]]>
<![CDATA[Oppusunggu, Lis Sintha]]>;
<![CDATA[Simbolon, Ika Pratiwi]]>
<![CDATA[ Golden Ratio of Finance Management Vol. 1 No. 1 (2021): October - March ]]>
Publisher : <![CDATA[Manunggal Halim Jaya ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
DOI: 10.52970/grfm.v1i1.96
<![CDATA[This study aims to provide the evidence associated with the growth of corporate governance in crisis. This research is a type of literature study with secondary data (ROA and LDR) period January 2015–December 2019. The analysis is by using descriptive research with the support of theories and the findings from previous studies. Return on Assets (ROA) has increased and decreased for several periods and Loan to Deposit Ratio (LDR). Profitability with ROA decreased by 0.35% from 2.82% in January 2015 to 2.47% in December 2019. As measured by ROA, banking performance declines to make banks vulnerable to a crisis. Banks that have a high LDR potentially have liquidity risk. This study provides descriptive statistics that describe the potential of high LDR in the future since there's a sharp trend for the increasing value of LDR. LDR increased as much as 5.95% from 88.48% in January 2015 to 94.43% in December 2019. Liquidity risk continues to rise to make banks vulnerable to a crisis. This study provides several findings from previous research regarding standard corporate governance and risk governance in the financial crisis to mitigate those risks. Evaluating formal corporate management and risk governance can lead to optimal financial soundness.]]>
<![CDATA[Comparison of Sharia Stock Prices and Trading Volumes Before and During COVID-19 ]]>
<![CDATA[Ameliana Yunus, Yana]]>
<![CDATA[ Golden Ratio of Finance Management Vol. 1 No. 1 (2021): October - March ]]>
Publisher : <![CDATA[Manunggal Halim Jaya ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
DOI: 10.52970/grfm.v1i1.111
<![CDATA[Before making an investment, entrepreneurs or investors must consider the benefits and financial risks obtained. So, investors need to take action in investing, meaning that investors need to form a portfolio by selecting several assets so that financial risk can be minimized without reducing the expected. The COVID-19 pandemic has significantly impacted the economy, especially investors, informing an optimal portfolio. This study aims to determine the optimal portfolio formation during the COVID-19 pandemic. In this study measurement, we used variables in the form of stock prices and stock trading volumes before and during COVID-19 pandemic. This study shows a comparison, but not so significant, between stock prices before and during the pandemic. Based on the survey conducted, the following results were found, i.e., first, shows an insignificant difference between prices before and after the rights issue announcement. The stock trading volume indicates a significant difference between the stock trading volume before and after the rights issue; trading volume increases after the information of the rights issue. By implementing companies affected by COVID-19 pandemic, we can watch the prices that occur around the announcement date. Investors can make a reason about their investments in shares of issuers affected by COVID-19 pandemic.]]>
<![CDATA[Analysis of the Effect of Earnings per share, Price earning ratio and Price to book value on the stock prices of state-owned enterprises ]]>
<![CDATA[Sari, Ratna]]>
<![CDATA[ Golden Ratio of Finance Management Vol. 1 No. 1 (2021): October - March ]]>
Publisher : <![CDATA[Manunggal Halim Jaya ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
DOI: 10.52970/grfm.v1i1.117
<![CDATA[This study aims to (1) determine the effect of earnings per share on stock prices, (2) determine the effect of price-earnings ratio on stock prices, (3 determine the effect of price to book value on stock prices, (4) find out whether earnings per share, price earning ratio, and price to book value have a simultaneous effect on stock prices. This study uses secondary data through data sources and the Indonesian stock exchange that have been published by companies, as many as nine companies within five years. This research was conducted within the research period. From August to October 2020. Methods: the analysis used is multiple linear regression analysis, classical assumption test, partial test, simultaneous test, and coefficient of determination. The data were analyzed using the Statistical Product and Service Solution (SPSS) 23 software program. The results of this study state that (1) Earning Per Share has a positive and significant effect on stock prices, (2) price earning ratio has a positive and significant effect on stock prices, (3) price to book value has a positive and significant effect on stock prices, (4) Earning Per Share, price earning ratio, debt to equity, price to book value simultaneously affects the stock price. Therefore, construction companies are expected to improve their performance to increase stock prices further.]]>
<![CDATA[The Regression Effect of Capital Structure and Firm Growth on the Firm value ]]>
<![CDATA[Amin, Moh.]]>
<![CDATA[ Golden Ratio of Finance Management Vol. 1 No. 1 (2021): October - March ]]>
Publisher : <![CDATA[Manunggal Halim Jaya ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
DOI: 10.52970/grfm.v1i1.202
<![CDATA[This study aims to determine and analyze the effects of capital structure, firm growth, and profitability on the firm value on the IDX. The population in this study were all manufacturing companies in the consumer goods industry sector, as many as 42 firms, and the number of samples was as many as 12 firms using the purposive sampling method. This study uses secondary data derived from the annual financial statements of manufacturing companies listed on the IDX. The data were analyzed using SPSS program. The results of this study indicate that capital structure and profitability have a negative and insignificant effect on the firm value on the IDX. The firm's growth has a positive and negligible impact on the firm value on the IDX. Trade Off Theory explains that if the position of the capital structure is below the optimal point, any additional debt will increase the firm's value. On the other hand, if the position of the capital structure is above the optimal threshold, any additional debt will reduce the firm's value. Statistically, the capital structure has a negative and insignificant effect on the firm value in the consumer goods industry sector listed on the IDX.]]>
<![CDATA[Comparison of Financial Performance Before and During COVID-19: Case Study of Hospitality Business, Indonesia ]]>
<![CDATA[Malikah, Anik]]>
<![CDATA[ Golden Ratio of Finance Management Vol. 1 No. 1 (2021): October - March ]]>
Publisher : <![CDATA[Manunggal Halim Jaya ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
DOI: 10.52970/grfm.v1i1.204
<![CDATA[This study aims to determine and analyze whether there are differences between financial performance before and during the COVID-19 pandemic in hotel companies listed on the Indonesia Stock Exchange for the 2019-2020 period. The financial ratios used are liquidity ratios, solvency ratios, activity ratios, and profitability ratios. The population in this study is an industrial service company engaged in the hospitality sector for the 2019-2020 period. Sampling was done by the purposive sampling method. So, we obtained seven companies as samples. The data analysis method used is the paired sample t-test. The study result states First, the liquidity ratio of companies engaged in the hospitality sector is significantly different. Second, the solvency ratio of companies engaged in the hospitality sector did not differ significantly. Third, the activity ratio of companies engaged in the hospitality sector did not differ significantly. Fouth, the profitability ratios of companies engaged in the hospitality sector were not significantly different. This means that there is a difference in the company's profitability ratios. However, it did not have a significant effect before and during the COVID-19. This is seen from the analysis of the solvency ratios, which show that the three ratios used have a downward trend.]]>
