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Golden Ratio of Finance Management
Published by Manunggal Halim Jaya
ISSN : -     EISSN : 27766780     DOI : https://doi.org/10.52970/grfm
Core Subject : Economy,
Economics, Econometrics & Finance
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
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis, Menejemen, dan Akutansi (Lain-Lain)
Articles 167 Documents
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The Regression Model Effect of Financial Ratio on Construction and Building Stock Price Afifuddin, A.
Golden Ratio of Finance Management Vol. 2 No. 1 (2022): October - March
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grfm.v2i1.194

Abstract

This study analyzes liquidity, solvency, and profitability of stock prices in construction and building companies listed on the Indonesia Stock Exchange (IDX) for the period 2016-2021. The sample in this study is construction and building companies listed on the Indonesia Stock Exchange (IDX), which is selected based on specific criteria using the Purpose Sampling Method. The analysis used in this study is the Regression Analysis. The results of this study show that liquidity variables have a positive and significant effect on stock prices, and solvency variables have a positive and significant impact on stock prices. In contrast, profitability variables have a positive but insignificant effect on stock prices. The current ratio can be a useful measure of a company’s short-term solvency when it is placed in the context of what has been historically normal for the company and its peer group. It also offers more insight when calculated repeatedly over several periods. What makes the current ratio good or bad often depends on how it is changing. A company that seems to have an acceptable current ratio could be trending toward a situation in which it will struggle to pay its bills. Conversely, a company that may appear to be struggling now could be making good progress toward a healthier current ratio.
The Regression Effect of Capital Structure and Firm Growth on the Firm value Amin, Moh.
Golden Ratio of Finance Management Vol. 1 No. 1 (2021): October - March
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grfm.v1i1.202

Abstract

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.
Analysis of Liquidity, Leverage, and Activity Ratio on the Financial Profitability of Indonesian Telecommunications Industry Hasbiah, H.
Golden Ratio of Finance Management Vol. 2 No. 1 (2022): October - March
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grfm.v2i1.203

Abstract

This study aimed to analyze the effects of liquidity, leverage, and activity on the profitability of telecommunications companies listed on the Indonesian stock exchange. The analytical method used in this study is multiple linear regression analysis, where the data is obtained from Indonesia Stock Exchange. The sample used in this study is telecommunications companies listed on the Indonesia Stock Exchange. This research approach is quantitative. The results obtained in this study show that liquidity, leverage, and activity have a significant effect on profitability. Partially, liquidity has a negative and significant effect on profitability, leverage has a negative and significant effect on profitability, while activity has a positive and significant effect on profitability. Firstly, for companies should increase the company profitability by reducing liquidity which can reduce company profits so that it can attract investors to invest in their companies and can also improve their financial performance. Second, for investors, in assessing a company, it is better to pay attention to other factors that affect the company's profitability, such as company size, company growth, and dividend policy. Thrid, for further researchers, it is hoped that further researchers will use a larger research sample and add other variables that can affect profitability.
Comparison of Financial Performance Before and During COVID-19: Case Study of Hospitality Business, Indonesia Malikah, Anik
Golden Ratio of Finance Management Vol. 1 No. 1 (2021): October - March
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grfm.v1i1.204

Abstract

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.
Comparison of Financial Distress Predictions With Altman, Springate, Zmijewski, and Grover Models Martini, Rita; Raihana Aksara, Rana; Rachma Sari, Kartika; Zulkifli, Zulkifli; Hartati, Sukmini
Golden Ratio of Finance Management Vol. 3 No. 1 (2023): October - March
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grfm.v3i1.216

Abstract

Several predictive models of financial distress and corporate bankruptcy have been developed. In this study, the Altman model (Z-Score), the Springate model (S-Score), the Zmijewski model (X-Score), and the Grover model (G-Score) were used. These methods are used to analyze the potential for financial difficulties which in the end to determine the potential for bankruptcy at PT Garuda Indonesia (Persero) Tbk. The secondary data used is in the form of financial statements for 2018-2020. The results of the bankruptcy prediction using the Altman model resulted in PT Garuda Indonesia (Persero), Tbk being in the bankrupt area, which experienced financial difficulties in 2018 to 2020. The Springate model was in a distress position and went bankrupt in 2018 and 2020, while in 2019 is in the gray area. Then the Zmijewski model is in a state of bankruptcy, which is experiencing financial difficulties and has the potential to go bankrupt in three years. Grover's model shows the company was in a state of bankruptcy in 2018 and 2020, and safe in 2019.
Analysis of The Effects of Ownership-Structure and Social Responsibility on Profitability and Company Value Elisabeth, Cherly
Golden Ratio of Finance Management Vol. 3 No. 1 (2023): October - March
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grfm.v3i1.303

Abstract

This study aims to determine the orientation of Islamic financing for Micro, Small and Medium Enterprises (SMEs) in Makassar City. The research was conducted at BSI KC Makassar 2 using primary data sourced from interviews, observations, documentation, and secondary data sourced from news, journals, and books related to SMEs and Islamic financing. This research uses qualitative methods with an interpretive approach and uses interviews, documentation, and observation as data collection methods. The analysis technique used is Interpretive Phenomenology Analysis (IPA). The results show that the orientation of Islamic financing for SMEs is influenced by the customer's background, understanding of Islamic financing and the length of time the business has been operating. The main type of financing contract used for SMEs is Murabahah, which is offered in two methods: Murabahah with Wakalah and Murabahah without Wakalah. The factors supporting Islamic financing are public knowledge about Islamic financing and the benefits of Islamic banks, the availability of financial products and ervices that comply with sharia principles, regulations that support the development of Islamic banks and the challenges of its development, and comparison with financial products and services offered by conventional banks.
The Effect of Financial Performance on the Stock Price of Service Companies Listed on the Indonesia Stock Exchange (IDX) Rasyid, Abdul; Zakaria, Z.
Golden Ratio of Finance Management Vol. 3 No. 1 (2023): October - March
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grfm.v3i1.310

Abstract

This study aims to determine the financial performance of PT. Wijaya Karya Beton Tbk based on the analysis method of liquidity ratio, profitability ratio and solvency ratio for the period 2019-2022. The data collection technique used is documentation, with documents in the form of company financial statements in 2019-2022. Data analysis techniques use case study techniques to obtain data as material in the preparation of research. As for analyzing the development of financial performance, this study uses descriptive analysis techniques where the data obtained in the field is processed in such a way as to provide systematic, factual, and accurate data on the problems to be studied. The results showed that the company's financial performance assessment based on the analysis of liquidity ratios, solvency ratios and profitability ratios for the period 2019-2022, with details, namely (a) financial performance based on liquidity ratios has fluctuated in the last 4 years (2019-2022) this is due to the increasing number of current assets and current debt from year to year. (b) Financial performance based on Profitability Ratio has decreased in the last year (2019-2022). This is due to the increasing amount of profit after tax. (c) Financial performance based on Solvency Ratio has decreased in the last year (2019-2022) this is due to the increase in total assets.
Analysis of Financial Performance at PT Semen Indonesia (Persero), Tbk Listed on the Indonesia Stock Exchange Junaedy, J.; Pattiasina, Victor
Golden Ratio of Finance Management Vol. 3 No. 1 (2023): October - March
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grfm.v3i1.311

Abstract

This study aims to determine the financial performance of PT Semen Indonesia (Persero), Tbk listed on the Indonesia Stock Exchange (IDX) based on profitability ratios during the 2020-2022 period. The type of data used in this study is quantitative data, namely data in the form of numbers or numbers. Quantitative data serves to determine the number or magnitude of an object to be studied. In this study, the quantitative data is the company's financial statements. The data source used in this research is secondary data, namely all data collected through library research and company data in the form of documents that can support writing. The analysis technique used to determine the company's financial performance in this study is the profitability ratio, namely Gross Profit Margin (GPM), Net Profit Margin (NPM), Return on Asset (ROA), and Return on Equity (ROE). The results of this study indicate that in general the company's financial performance based on profitability analysis is not efficient and not good. This is because the level of profitability is not stable so that it has decreased in three consecutive years and is still below the industry average. Thus, the company has not been able to manage its capital efficiently in generating profits.
The Effect of Capital Structure on Firm Value in Banking Companies Listed on the Indonesia Stock Exchange Sonjaya, Yaya; Muslim, M.
Golden Ratio of Finance Management Vol. 3 No. 1 (2023): October - March
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grfm.v3i1.312

Abstract

This study is to determine the effect of capital structure on firm value in banking companies on the Indonesia Stock Exchange. The data used is quantitative data. The population in this study were 8 banking companies listed on the Indonesia Stock Exchange, while the sample used in this study used the Purposive Sampling formula of 40. Data collection was carried out through documentation. The data analysis method used is the classic assumption test, regression analysis, and hypothesis testing using SPSS 23 for Windows software. Based on the results of research that examines the effect of the Debt-to-Equity Ratio on Price Book Value, the t value = 4.801 is greater than the t table = 2.02439, with a significance level of 0.060 greater when compared to the α = 5% level, then H1 is accepted. The constant value of 3.826 means that, if the DER variable does not change, then PBV has a value of 3.826. Meanwhile, the DER variable coefficient value of -0.262, means that if DER increases by one percent, PBV decreases by 0.262. These results indicate that statistically DER has a negative and insignificant effect on PBV in Banking Companies listed on the Indonesia Stock Exchange. Thus, the hypothesis stating that DER has a negative and insignificant effect on PBV in Banking Companies listed on the Indonesia Stock Exchange is proven.
Understanding the Role of Finance in Sustainable Development: A Qualitative Study on Environmental, Social, and Governance (ESG) Practices Junaedi, J.
Golden Ratio of Finance Management Vol. 4 No. 2 (2024): April - September
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grfm.v4i2.422

Abstract

This qualitative literature review investigates the multifaceted landscape of sustainable finance, aiming to provide insights into its key dimensions and implications for sustainable development. The research methodology involves a comprehensive examination of existing literature utilizing qualitative analysis techniques such as thematic analysis, content analysis, and narrative synthesis. The study explores environmental considerations, social dimensions, and governance practices within sustainable finance, drawing on diverse perspectives from academic literature, industry reports, and policy documents. Key findings reveal the pivotal role of sustainable finance in advancing environmental objectives by mobilizing capital towards environmentally sustainable projects, promoting conservation, and facilitating the transition to a low-carbon economy. Moreover, the study highlights the significance of addressing social issues such as labor rights, gender equality, and community development through sustainable finance initiatives. Additionally, effective governance practices are identified as essential for ensuring transparency, accountability, and ethical conduct within the financial sector. The implications of sustainable finance extend beyond financial markets, encompassing environmental outcomes, social equity, and governance frameworks crucial for achieving sustainable development goals. Despite challenges such as data availability, standardization, and regulatory coherence, sustainable finance presents opportunities for innovation and collaboration to address pressing global challenges. Overall, this study contributes to a deeper understanding of sustainable finance and underscores its potential to drive positive change towards a more resilient, inclusive, and sustainable global economy.

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