Retained Earnings

This paper aims to investigate the Validity of Altman z-score model to predict financial failure in insurance companies listed on Amman Stock Exchange (ASE) over the period 2011-2016. To achieve the goal of the study, the study depended on the different statistics analytical method and Multiple Linear Regression through doing the statistical analysis of the independent variables on the dependent variable related to the subject of the study through the (E-views) program in order to cover the analytical part of the study, in addition to the descriptive method through relying on books, periodicals, previous studies and financial reports of the insurance companies of the study' sample, whether the direct or the indirect ones, to cover the theoretical part. The result of the study finds a high predictive power for Z-score model. Moreover, the findings reveal that Z-Score model could be valuable instrumental indicators for many users of financial statement such as financial managers, auditors, lenders, investors, to make right decisions in the face of financial failure.

Corporate entities face the challenge of determining the optimal mix of equity and debt to maximize returns and firm value. This paper investigates the influence of capital structure on the financial performance of consumer goods companies in Nigeria. Utilizing secondary data from the annual financial reports of 21 sampled companies from 2013 to 2022, obtained from the Nigeria Stock Exchange website, the research employed a census sampling technique and an ex-post facto research design to explore the relationship between independent and dependent variables. Descriptive statistics, correlation, and multiple regression analysis were conducted to test hypotheses. The study reveals a significant association between a firm's capital structure and its financial performance. Specifically, it finds that the total debt to total equity ratio, short-term debt to total assets ratio, and long-term debt to total assets ratio do not significantly impact the financial performance of listed consumer goods firms in Nigeria. It suggests that companies should prudently manage their equity and debt usage, as these factors profoundly affect corporate performance. Regulatory authorities are encouraged to foster a conducive business environment, particularly for capital-constrained firms, by facilitating access to long-term debt financing. This strategic approach can enhance operational capabilities and short-term performance, rather than resorting to short-term debt as a stopgap measure for financing and profitability issues.

We analyze capital structure decisions of U.S. firms during 1905-1924, a period characterized by two relevant shocks: (i) the introduction of corporate and individual taxes, and (ii) the onset of World War I, which resulted in large, transitory increases in investment outlays by U.S. firms. Although we find little evidence that shocks to corporate and individual taxes have a meaningful influence on observed leverage ratios, we find strong evidence that changes in leverage are positively related to investment outlays and negatively related to operating cash flows. Moreover, the transitory investments made by firms during World War I are associated with transitory increases in debt, especially by firms with relatively low earnings. Our findings do not support models that emphasize taxes as a first-order determinant of leverage choices, but do provide support for models that link the dynamics of leverage with dynamics of investment opportunities.

The purpose is to find out which influence profitability, investment opportunities, free cash flow, and debt policy on dividend policy. The population is manufacturing companies were listed on the Indonesia stock exchange period 2011-2014. The number of sample 21 company in 4 years of observations obtained 84 total observations with purposive sampling technique. The analysis of the data used in this study is multiple linear regression analysis. The study found that significant negative effect on the profitability of the dividend policy. Investment opportunities significant negative effect on the dividend policy. Free cash flow significant positive effect on the dividend policy. Debt policy significant negative effect on the dividend policy. Based on the value of R2 values obtained 0.356 meaning the great influence of the independent variable on the dividend policy can be explained by a model equation of 35.6%. The rest of 64.4% is affected by other factors.

This paper investigates the drivers of provisioning in MFIs and their provisioning behaviour over the business cycle. Based on an international sample of MFIs extracted from the MIX database over the 2001-2014 period, we uncover a negative relationship between MFIs' provisioning and the business cycle. Our finding corroborates the fact that MFIs do not build their loan loss provisions (LLP) during economic booms when profit and earnings are high. Since they provision more during downturns, they are more likely to suffer from unexpected losses and experience failure. This is in sharp contrast with the current Basel III countercyclical buffer requirement suggesting that financial institutions, especially banks, should build sufficient buffer in booms so that they can avoid costly capital adjustment when the economy contracts. Deeper analyses suggest however that this behaviour mainly concerns profit-oriented and deposit-taking/regulated MFIs, with business model and target close to conventional banking. This suggests that bank-like and regulated MFIs' loan loss provisions follow similar behavioral patterns to those of the conventional banking sector during the boom-and-bust cycles.

The regulation about the health of bank which used Risk profile, Governance, Earning, Capital (RGEC) must be applied by banks in 2011.The result from assessment of RGEC could impact in preseption of investors about performance of bank. The purpose of this research was to analyze the effect of implementation from the health assessment of bank using RGEC on the firm value. The banks were listed in BEI is used to this research in period 2013-2015. This research had sixty banks as samples with used purposive sampling technique. Risk profile and GCG measured by composit value of selfassement, meanwhile earning measured by ROA and capital measured by CAR. Firm value used tobin’s q as measurement. The result showed that risk profile partially influence negative to the firm value. GCG and earning partially influence positive to the firm value Meanwhile variable of capital not influence to the firm value of bank.

PENILAIAN KESEHATAN BANK SYARIAH BERBASIS PENILAIAN RISIKO

Penilaian kesehatan bank syariah dilakukan dengan berbagai metode, seperti RGEC dan Risk Based Bank Rating (RBBR). Penilaian ini didasarkan pada faktor-faktor seperti profil risiko, permodalan, rentabilitas, dan tata kelola perusahaan yang baik (Good Corporate Governance).
Metode RGEC
RGEC merupakan metode yang menilai risiko inheren dan kualitas penerapan manajemen risiko dalam operasi bank
RGEC menilai delapan faktor risiko, yaitu risiko kredit, pasar, likuiditas, operasional, hukum, stratejik, kepatuhan, dan reputasi
RGEC merupakan pengembangan dari CAMELS
Metode RBBR
RBBR atau RGEC memperhatikan profil risiko, pendapatan, dan permodalan
RBBR digunakan untuk menilai tingkat kesehatan Bank Umum Syariah (BUS) di Indonesia
Dasar hukum
Dasar hukum pengaturan penilaian kesehatan Bank Syariah dapat ditemukan dalam berbagai peraturan yang dikeluarkan oleh otoritas perbankan dan keuangan di Indonesia
Undang-Undang Nomor 21 tahun 2008 tentang Perbankan Syariah mewajibkan bank menjaga tingkat kesehatannya
Tujuan penilaian
Penilaian kesehatan bank syariah dilakukan untuk mengetahui kinerja bank dalam mengatasi risiko dan memantau kinerjanya.

Controversy exists among scholars on the relevance of dividend policy to firm performance; however, literature often neglects the issues of persistence in profitability when examining the dividend-performance relationship. This study investigated the effect of dividend policy on a firm’s performance in the Nigerian manufacturing industry regarding persistence in profitability. Different theories of dividend policy and firm performance were reviewed, and the study adopted the dynamic panel models to examine the relationship between dividend policy and firm performance using the secondary data obtained from 30 quoted manufacturing firms over 12 years in Nigeria. The study found a significant positive effect of dividend policy on firm performance as profitability persisted over time. Conversely, there exists a negative impact of firms’ age on firm performance, while firm market share has a negligible positive impact on firm performance. The study supported the dividend relevance theory and recommended that firms maintain a sound dividend policy and keep a good track record of profitability to ensure a higher firm performance.

This research reviews all of the relevant important theories and concepts developed in corporate capital structure until till date in an aggregate manner. The empirical part of the study reveals that the leverage ratios defined in short-term debts, long-term debts, total debts and book value of assets are correlated. Similarly, the leverage ratios defined in short-term debts, long-term debts, total debts and market value of assets are correlated. However, book value based and market value based leverage ratios are not correlated. The leverage ratios defined in earnings before interest and taxes over interest and earnings before interest, taxes and depreciation over interest are positively perfectly correlated. Besides, short-term loans are three times more compare to long term debts, firms are reluctant in paying tax and allotment in research and development expenses are insufficient. In addition, industry median average, non-debts tax shield, uniqueness (R&D) positively significantly affects financial leverage and, and size, tangibility, tax rate, dividend pay-out, agency cost, business risk, GDP growth, and money growth negatively significantly affects financial leverage. The selling, general and administrative expenses positively affects short-term debts, negatively affects long-term debts and have no significant effects on total debts. Last but not least, human capital cost do not have affect on any kind of leverage.

Abstract
Purpose: The aim of this study is to analyze the influence of liquidity and risk on dividend policy in the nepalese banking sector, with a specific focus on examining the mediating role of investment in the relationship between liquidity and risk and the dividend policy.

Penelitian ini bertujuan untuk menguji pengaruh Profitabilitas dan Investment Opportunity Set terhadap Kebijakan Dividen pada perusahaan manufaktur yang terdaftar di BEI. Latar belakang masalah pada penelitian ini adalah naiknya tingkat pembayaran dividen perusahaan yang diikuti dengan penurunan profitabilitas dan meningkatnya investment opportunity set perusahaan. Populasi dalam penelitian ini adalah laporan keuangan tahunan perusahaan manufaktur yang terdaftar di BEI tahun 2014 s/d 2018 dan sampel yang digunakan adalah perusahaan yang membagikan dividennya selama tahun 2014 s/d 2018. Teknik pengambilan sampel yang digunakan yaitu purposive sampling. Analisis yang digunakan dalam penelitian ini adalah analisis regresi linear berganda di mana Profitabilitas yang diproksikan dengan return on equity dan Invesment Opportunity Set sebagai variabel independen dan kebijakan dividen yang diproksikan dengan dividend payout ratio sebagai variabel dependen. Hasil penelitian menunjukkan bahwa ...

This research aims to analyze the effect of the Altman Z-score financial ratio on financial distress in automotive and component manufacturing companies listed on the Indonesia Stock Exchange from 2017 to 2021. The independent variables in this study include Net Working Capital to Total Assets, Retained Earnings to Total Assets, Earning Before Interest, and Tax to Total Assets dan Book Value of Equity to Total Liabilities. The dependent variable is financial distress. Purposive sampling was used to select a sample of 12 companies, and descriptive statistics were applied using the SPSS version 25 program. The results of the study indicate that 7 companies are healthy, 3 companies are experiencing financial distress, and 2 companies are in a gray area. The result found that all four financial ratios partially have an effect on financial distress and simultaneously all four ratios also have an effect on financial distress.

Penelitian ini bertujuan untuk menguji pengaruh Profitabilitas dan Investment Opportunity Set terhadap Kebijakan Dividen pada perusahaan manufaktur yang terdaftar di BEI. Latar belakang masalah pada penelitian ini adalah naiknya tingkat pembayaran dividen perusahaan yang diikuti dengan penurunan profitabilitas dan meningkatnya investment opportunity set perusahaan. Populasi dalam penelitian ini adalah laporan keuangan tahunan perusahaan manufaktur yang terdaftar di BEI tahun 2014 s/d 2018 dan sampel yang digunakan adalah perusahaan yang membagikan dividennya selama tahun 2014 s/d 2018. Teknik pengambilan sampel yang digunakan yaitu purposive sampling. Analisis yang digunakan dalam penelitian ini adalah analisis regresi linear berganda di mana Profitabilitas yang diproksikan dengan return on equity dan Invesment Opportunity Set sebagai variabel independen dan kebijakan dividen yang diproksikan dengan dividend payout ratio sebagai variabel dependen. Hasil penelitian menunjukkan bahwa ...

Penelitian ini bertujuan untuk mendapatkan bukti empiris mengenai pengaruh Capital Adequacy Ratio (CAR), Loan to Deposit Ratio (LDR), Non Performing Loan (NPL), dan Beban Operasional Pendapatan Operasional (BOPO) terhadap perubahan laba perbankan. Sampel yang digunakan dalam penelitian adalah 35 perusahaan perbankan yang terdaftar di BEI periode 2013-2015 dan telah diaudit oleh auditor independen serta memperoleh laba dalam periode tahun 2012-2015. Pemilihan sampel penelitian ditetapkan berdasarkan metode purposive sampling. Data yang digunakan dalam penelitian ini adalah data sekunder. Hasil dari penelitian ini yaitu Capital Adequacy Ratio (CAR), Loan to Deposit Ratio (LDR), Non Performing Loan (NPL), dan Beban Operasional Pendapatan Operasional (BOPO) secara bersama-sama berpengaruh terhadap perubahan laba perbankan. Selain itu, dari hasil t-test, Capital Adequacy Ratio (CAR) secara parsial berpengaruh terhadap perubahan laba perbankan, sedangkan Loan to Deposit Ratio (LDR), Non P...

Researchers believe that a leader, in this case the Board of Directors, can have a significant influence on the success or failure of a company because it is a leader who plays a big role in the formation of company regulations, the direction of the company, and a leader also oversees these policies so that they can run well and in the desired path including the Financial Performance of a company. Therefore, the research aims to analyze the influence of directors on financial performance. Different from previous research, this research adds the Independent Commissioner variable as a moderating variable which researchers can strengthen the relationship between the Directors variable and Financial Performance. This variable uses 1 Independent variable, namely Directors, one Dependent variable, namely Financial Performance, and 1 moderating variable, namely Independent Commissioner. This research is quantitative with an explanatory approach. The data used in this research is primary data that researchers obtained from distributing online questionnaires to 50 directors, 150 employees and 100 commissioners of private companies spread throughout Indonesia. The results in this article show a positive relationship direction and a significant influence on the Company's Financial Performance because the results are positive and below the significance level of 0.05, namely 0.014..Apart from that, researchers also believe, which is also the second hypothesis in this research, that Independent Commissioners who uphold fundamental principles in the company can moderate the influence of Directors on Financial Performance because the Directors are their subordinates and are under their control. If directors can influence financial performance, then independent commissioners can influence it more significantly because of this structural order. Based on this, the results of the third table of path coefficients show that the Independent Commissioner variable can moderate the influence of the Directors variable on the company's financial performance because it has a positive relationship direction and is below the 0.05 significance level, namely 0.000. More significant than direct testing 0.014. Thus, the first and second hypotheses that the researcher believes can be proven and accepted.

Kebijakan dividen merupakan keputusan dari manajemen perusahaan untuk menentukan berapa banyak laba yang harus dibagikan kepada para pemegang saham/investor dan berapa banyak yang harus ditanam kembali menjadi laba ditahan (Bansaleng et al. 2014). Suatu perusahaan selalu ingin memberikan dividen yang besar kepada para pemegang sahamnya, tetapi di sisi lain pertimbangan yang muncul adalah haruskah perusahaan menginvestasikan kembali uang tersebut untuk para pemegang sahamnya, yang mungkin akan lebih menguntungkan dibandingkan membayarkannya.

This study aims to evaluate the impact of ROA, CR, DER, and PBV on the stock prices of technology companies listed on the Indonesia Stock Exchange (BEI) in 2021-2022. The research is quantitative with a descriptive approach, utilizing secondary data from the BEI website. The population consists of 38 companies, with a purposive sample of 26 technology companies. Analytical methods include descriptive statistics, classic assumption tests (normality, multicollinearity, autocorrelation, and heteroskedasticity), multiple linear regression, and hypothesis testing using the t-test. The study results indicate that ROA, CR, and PBV significantly affect stock prices (p < 0.05), while DER does not have a significant impact (p > 0.05).

The objective of the study is to test and analyze the effect of dividend policy, net profit margin and current ratio to corporate value of companies at property and real estate listed in the Indonesia Stock Exchange (IDX) in the period of 2012-2016. The research used some theories of dividend policy, net profit margin and current ratio. The research was used by a quantitative research approach, this research was causal/clausal. The data collection of this research was performed by study documentation. This research uses secondary data types and sources. The research finding revealed that profitability, dividend policy, net profit margin and current ratio simultaneously have a positive effect on corporate value of companies at property and real estate listed in the Indonesia Stock Exchange in the period of 2012-2016. The research concluded that dividend policy, net profit margin and current ratio partially have a positive and significant effect on corporate value of companies at prop...

This research assesses the effect of capital structure on the sustainability of Microfinance Institutions (MFIs) in Bamenda, Cameroon. We use panel data obtained from audited annual financial statements of fifteen (15) MFIs, comprising both member-and shareholder-owned MFIs in Bamenda, Cameroon from 2014 to 2020, and an ex-post facto causal research design. Debt, equity, grants, and retained earnings are used to capture capital structure, while Operational Self-Sufficiency is used as a proxy for sustainability. The Generalised Least Squares and the quantile-onquantile techniques are used for data analysis. Our findings indicate a statistically significant negative relationship between debt, grants and financial sustainability of MFIs, while a statistically significant positive relationship is found between retained earnings and financial sustainability of MFIs. A positive, though statistically insignificant relationship is found between equity or share capital and MFI financial sustainability. The results are robust upon consideration of different quantiles. Based on the findings, MFIs in Cameroon should rely more on retained earnings and equity to be more financially sustainable. The findings additionally provide evidence relating to the shortcoming of grants in the financing of development initiatives.

New ventures, which are essential in driving economic development, face a universal challenge of accessing finance and deciding on a suitable capital structure. In developing countries such as Trinidad and Tobago, studying the impact of capital structure on profitability levels of new ventures is especially critical, given that current literature has primarily focused on established firms. To fill this gap, this study examined the existing capital structure of 43 new ventures in Trinidad and Tobago, testing the effects of different financing sources on net profit margins. The findings revealed that owners' savings and retained earnings had a positive impact on net profit margins, while short-term loans, long-term loans, and informal investor finance had no significant effect. Moreover, this study expanded upon existing theories, particularly the pecking order theory, by testing it in the context of new ventures, rather than mature firms. The implications of this study are significant to financial managers in charge of decision-making for new ventures. It suggests the importance of owners' savings and retained earnings in financing new ventures. Moreover, the findings suggest that new ventures in Trinidad and Tobago may benefit from pursuing funding options that align with the pecking order theory. Overall, this research emphasizes the need to consider the unique financial challenges facing new ventures when making decisions regarding their capital structure.

This study aims to identify whether or not the Z score is usable enough in doing prediction at the early stage of the financial distress of People’s Leasing and Financial Services (PLFS) and Bangladesh Industrial Finance Company (BIFC). To predict corporate failure, Multiple Discriminant Analysis is an effective solution. Z&quot;-Score by Altman is a widely used model of multiple discriminant analysis. Using the data from 2011 to 2017 of PLFS and 2015-2017 of BIFC, this study applied the Altman Z&quot;-Score Model as well as used SPSS software to analyze the descriptive statistics of the financial information and ratios of both company to know the level of financial distresses and attributes for reaching toward distress level. The analysis was presented in tables. The finding shows that Z&quot;-Score by Altman is usable enough to predict the failure of the firm. The descriptive analysis shows that working capital, retained earnings, and income before interest and tax were negative w...

Penelitian ini bertujuan untuk mengetahui dan menguji pengaruh antara skrtuktur kepemilikan, pajak, pertumbuhan perusahaan dan profitabilitas terhadap pembayaran dividen perusahaan non finansial yang terdaftar di BEI periode 2012 dan 2014. Penelitian ini menggunakan data sekunder dari Bursa Efek Indonesia dengan populasi 82 perusahaan non finansial. Metode pemilihan sampel adalah purposive sampling, sehingga diperoleh sampel sebanyak 82 perusahaan di Bursa Efek Indonesia selama periode 2012 dan 2014. Analisis data menggunakan alat analisis uji regresi berganda. Pengujian hipotesis dilakukan dengan pengujian F dan uji t. Hasil analisis data atau regresi menunjukkan bahwa secara simultan struktur kepemilikan, pajak, pertumbuhan perusahaan dan profitabilitas mempengaruhi pembayaran dividen Namun secara parsial variabel yang berpengaruh terhadap pembayaran dividen adalah struktur kepemilikan, pajak, pertumbuhan perusahaan sedangkan profitabilitas tidak berpengaruh terhadap pembayaran di...

Commercial banks are traditional financial institutions accepting deposits and lending whereby maintaining financial stability. Stability of the banking system and viability of banks is considered to be of principal significance growth of the economy. The shifting landscape of financial system has brought transition in the businesses of the banks along with rise in stressed asset levels. Quality of assets of bank directly affect the income, expense and balance sheet of the banks. The paper attempts to investigate the change in the income composition of banks further it also examines the change in the asset quality of banks over a period of 10 years. The research also aims to review the relationship between the asset quality and profitability of banks. Using a sample of public and private banks from India, a panel regression analysis affirmed the interrelationship between income, asset quality and earnings which indicates banks focus on nontraditional income has improved the quality of earnings, however higher credit to deposit ratio has declined the asset quality over the time span. Lower asset quality lead to lower return on assets and return on equity which confirms to the study by Lown and Friedman (1991) lower asset quality in economies defer economic recovery by decreasing operating profit margin and eroding capital base for new loans.

This study aimed to analyze the factors that influence the dividend policy and its impact on future earnings growth. Variable used include size, leverage¸ lagged dividend policy, growth, and profitability. This study uses a quantitative approach to the analyze and use two stages least square as a model. This study used a sample of firm in the sector of consumer goods industry that distribute the minimum dividend 2 times on 2010-2014. The results showed that variable size, dividend payment of the previous period, and profitability has a positive and significant impact on dividend policy. While variable growth leverage and significant negative effect on dividend policy. For the second model variables profitability have a significant negative effect on the future earnings growth. While the variable leverage has significant negative effect on the future earnings growth. Other variables such as dividend policy, size, and growth have no significant effect on future earnings growth.

This paper analyzes the importance of equity finance for the R&D activity of small and medium-sized enterprises. We use information on almost 6000 German SMEs from a company survey. Using the intensity of banking competition at the district level as ...

This paper provides new evidence on the financial structure of small firms by emphasizing the role played by financial distress. We specify a model of debt adjustments that allows us to investigate the specific nature of the adjustment process towards target debt levels in small firms, which is then extended to account for the effect of financial distress on financial structure decisions. Our models were estimated by the Generalized Method of Moments on a data panel of small Portuguese firms during a period of recession, in which a substantial proportion of the companies analyzed faced a financial distress situation. We find that small firms do adjust their debt ratios towards target levels, the speed of adjustment being faster in the shorter term. Our results also indicate that there are major differences in the determinants of long-term and short-term debt, highlighting the role played by debt maturity in explaining a firm's financial structure. Finally, random behavior is observed in financially distressed firms, who seem to be disoriented when making their financial structure decisions.

This research reviews all of the relevant important theories and concepts developed in corporate capital structure until till date in an aggregate manner. The empirical part of the study reveals that the leverage ratios defined in short-term debts, long-term debts, total debts and book value of assets are correlated. Similarly, the leverage ratios defined in short-term debts, long-term debts, total debts and market value of assets are correlated. However, book value based and market value based leverage ratios are not correlated. The leverage ratios defined in earnings before interest and taxes over interest and earnings before interest, taxes and depreciation over interest are positively perfectly correlated. Besides, short-term loans are three times more compare to long term debts, firms are reluctant in paying tax and allotment in research and development expenses are insufficient. In addition, industry median average, non-debts tax shield, uniqueness (R&D) positively significantly affects financial leverage and, and size, tangibility, tax rate, dividend pay-out, agency cost, business risk, GDP growth, and money growth negatively significantly affects financial leverage. The selling, general and administrative expenses positively affects short-term debts, negatively affects long-term debts and have no significant effects on total debts. Last but not least, human capital cost do not have affect on any kind of leverage.

The goal of this paper is to provide an interpretation about the sky-high real interest rates in Brazil. We use Keynes» argument regarding liquidity trap to identify the forces trapping interest rates, but in Brazil they are trapped at very high levels instead of at the zero-lower bound discussed in Keynes»s General Theory. Rentiers, in Brazil, influence the Brazilian Central Bank to obtain very liquid assets in the form of Financial Treasury Bills (LFTs) while keeping high interest earnings. In this case expansionary fiscal policies will have a limited impact on output, given the resulting high debt levels and debt service, but will imply significant income transfers to the rentiers. This means that aggregate demand and income will be less sensitive to fiscal stimuli, but the distribution of income will be biased toward the rentiers.

This research was written in order to find out the relation between cash ratio, debt to equity ratio, firm size and growth to dividend payout ratio of the manufactur industry. The samples consisted of 20 manufactur companies from 2008 through 2010 and still listed on IDX. Research sample using purposive sampling of companies for period ended 2008-2010 analyzed by using the two tail linear regression methodology. The analysis technique used here is multiple regression with the least square difference and hypothesis test using t-statistic to examine partial regression coefficient and F-statistic to examine the mean of mutual effect with level of significance 5%. The result showed that the factors that affect significantly to the dividend payout ratio were debt to equity ratio and growth.. The other factors such as cash ratio and firm size had no significant relations. But the other result of this research showed that cash ratio, debt to equity ratio, firm size and growth were simultaneously had significant affect to dividend payout ratio.

Devidend adalah bagian dari laba yang diberikan kepada para pemegang saham. Besar kecilnyadividend yang dibayarkan oleh perusahaan kepada pemegang saham tergantung pada kebijakan dividendmasing-masing perusahaan. Penelitian ini bertujuan untuk mengetahui seberapa besar faktor-faktorcurrent ratio, debt to equity ratio dan net profit margin berpengaruh terhadap Dividend Payout Ratio.Populasi dalam penelitian ini adalah perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia (BEI)periode tahun 2010-2014 yang berjumlah 15 perusahaan. Dimana setiap perusahaan yang diambil adalahperusahaan yang memiliki data lengkap meliputi CR, DER, dan NPM serta membagikan dividen berturutturutselama periode 2010-2014. Adapun sampel penelitian ini diambil dengan menggunakan teknikpurposive sampling yaitu pemilihan anggota sampel berdasarkan kriterian-kriteria tertentu. Alat analisisyang digunakan dalam penelitian ini adalah regresi linear berganda. Berdasarkan penelitian ini, secaraparsial ada satu...

The aimed of this study is to investigate whether the liquidity affect the dividend policy, using profitability is able to intervening variable. In this study, the dividend policy is measured by dividend payout ratio, liquidity measured by current ratio, and profitability measured by return on equity. In addition, the sample obtain from LQ 45 company which are listed on the Indonesian Stock Exchange (IDX) from 2011-2015 and gathered 12 firms-years observation as sample with purposive sampling method. The analytical method are using outlier test, classic assumption test, partial test (t test) and path analysis. From hypotesis results by using t test and path analysis show that: 1)liquidity don't have a significant effect on profitability;2) liquidity and profitability don't have a significant effect on dividend policy; 3) profitability can not be intervening the relationship of liquidity and dividend policy value.

In this digital era, Indonesian people are required to have innovation and continue to make changes so that all wealth in Indonesia is not recognized by other countries. So, we need to build the value of tolerance considering that the social conditions of the multicultural Indonesian society have an impact where people often experience discriminatory actions, one of which is gender discrimination. Method: The methodology of this study is use of a qualitative survey and interview with students from any university in Indonesia. The population of this study is students from any university in Indonesia. The sample of this study is 45 students from 15-22 years old. Result: The results showed that on average, college students only knew enough about gender discrimination and most college students still found gender discrimination but had never experienced it. Recommendation: The authors suggests that further activities, students can continue to analyze and think of other effective actions to make people fully aware regarding gender discrimination in digital era. Limitation: The limitation of this study is this study has a limited time of research and difficult in conducting the research recall that we are on pandemic which makes the result of the research process is in delay.

In this digital era, Indonesian people are required to have innovation and continue to make changes so that all wealth in Indonesia is not recognized by other countries. So, we need to build the value of tolerance considering that the social conditions of the multicultural Indonesian society have an impact where people often experience discriminatory actions, one of which is gender discrimination. Method: The methodology of this study is use of a qualitative survey and interview with students from any university in Indonesia. The population of this study is students from any university in Indonesia. The sample of this study is 45 students from 15-22 years old. Result: The results showed that on average, college students only knew enough about gender discrimination and most college students still found gender discrimination but had never experienced it. Recommendation: The authors suggests that further activities, students can continue to analyze and think of other effective actions ...

Penelitian dilakukan guna menganalisis pengaruh kebijakan dividen, kebijakan hutang, profitabilitas dan kepemilikan manajerial terhadap nilai perusahaan subsektor industri barang konsumsi yang telah terdaftar di Bursa Efek Indonesia tahun 2015-2019. Populasi terdiri dari seluruh perusahaan industri barang konsumsi tahun 2015 hingga 2019. Sampel penelitian ini yaitu 8 perusahaan subsektor industri barang konsumsi dan seri waktu 5 tahun dari 2015 sampai 2019. Data didapatkan melalui laporan keuangan tahunan di Bursa Efek Indonesia (BEI) memakai metode purposive sampling yakni didasarkan pada kriteria tertentu. Metode analisis memakai analisis regresi berganda, asumsi kalsik dan uji hipotesis dengan tingkat memakai program SPSS. Hasil yang telah diselesaikan kebijakan dividen(DPR) berpengaruh positif dan signifikan terhadap nilai perusahaan. Kebijakan hutang(DER) berpengaruh positif dan tidak signifikan terhadap nilai perusahaan. Profitabilitas(ROA) berpengaruh positif dan signifikan t...

Penelitian ini bertujuan untuk menguji pengaruh profitabilitas (return on equity), likuiditas (cash ratio), pertumbuhan perusahaan (asset growth), dan ukuran perusahaan (firm size) terhadap kebijakan dividen (dividend payout ratio) pada perusahaan sektor consumer goods industries yang terdaftar di Bursa Efek Indonesia (BEI) tahun 2015-2018. Teknik pengambilan sampel dalam penelitian ini menggunakan purposive sampling dan menghasilkan sampel sebanyak 19 perusahaan dengan 4 tahun pengamatan sehingga diperoleh 76 sampel penelitian. Teknik analisis yang digunakan adalah analisis regresi linier berganda. Hasil penelitian ini menunjukkan bahwa return on equity berpengaruh positif terhadap dividend payout ratio, sedangkan cash ratio, asset growth, dan firm size tidak berpengaruh terhadap dividend payout ratio. Secara simultan, variabel independen (return on equity, cash ratio, asset growth, dan  firm size) berpengaruh terhadap dividend payout ratio pada perusahaan sektor consumer goods ind...

The purpose of this research is to test the influence of Profitability variable by using Return On Asset (ROA), Leverage by using Debt to Equity Ratio (DER), and Growth variable by using Asset Growth (AG), to the Dividend Payout Ratio (DPR) on companies Property, Real Estate, and Building Construction are listed in Indonesian Stock Exchange in 2013-2017 periods. In this research, the data used was obtained from the official IDX website. This research was included in explanatory research using a quantitative approach. The data analysis method used is regression analysis in panel data with the help of application E-Views 8. Panel data regression can be estimated using three models, namely Common Effect Model (CEM), Fixed Effect Model (FEM), and Random Effect Model (REM). From the result of the estimation model, it is found that REM is the best model in this study. The result showed that the profitability has a positive and significant effect on Dividend Payout Ratio, Leverage has a po...

This study extends previous research on dividend policy and funding decisions. Previous studies have focused on dividend policy or funding decisions alone,to determine the factors that influences.This study aims to determine the mutual influence between dividend payout and capital growth. The authors would like to exame that there are similarities between the factors that affect the distribution of dividends and capital growth include profitability,agency cost,and retained earnings. In this research,the sample comprises of 72 active stocks listed and traded in Indonesia Stock Exchange during the periode of 2011-2015. The test results demonstrate the usefulness of the model testing using indicators overall goodness of fit to meet the criteria recomended level of fitness. By using the non-statistical measure such absolute goodness of fit and parsimony goodness of fit value exceeds recomended levels, it has indicated a good fit between the data with the model proposed research.

Every business organization has its own way of building its corporate shareholding structure and it affects the decision of dividend payment. The general objectives of the study were to study the effect of corporate shareholding structure on dividend policy of listed firms in Nairobi securities exchange. The specific objectives of the study were; to examine the effect of foreign shareholding structure on dividend policy of listed firms in NSE; to evaluate the effect of local individual’s shareholding structure on dividend policy of firms listed in NSE, to determine the effect of local institution shareholding structure on dividend policy of firms listed in NSE. The study adopted stratified research design. The target population of the study comprised of all the 67 firms which have been listed in the NSE as at December 2018. The data for the study was obtained from 40 firms that had been consistently listed in the NSE from 2012 to 2016. Data for the study was collected from annual pu...

This study comparatively analyses the profitability between large enterprises (LE) and small and medium enterprises (SME) in the European Union in order to understand which group of companies is more profitable. The analysis is also segmented by groups of countries and industries. Furthermore, we study the impact of the financial crisis on profitability. The sample includes 54,654 firms from 21 EU countries and from 17 industries during the period between 2004 and 2013. Two measures of profitability are used: (1) Return on Assets (computed both with earnings before interest and taxes and net profit), and; (2) Return on Equity. The results suggest that LE are, on average, more profitable than SME. This finding holds across all industries except one. However, there is additional evidence that SME in Eastern Europe are more profitable than LE and are also more profitable than SME in Western Europe. Finally, the results also suggest that the financial crisis negatively impacted firms’ p...

Tujuan dari penelitian ini adalah untuk menganalisis pengaruh good corporate governace (GCG) terhadap profil risiko dan rentabilitas bank umum di Indonesia tahun 2011-2015. Good coporate governance (GCG) diukur dengan nilai komposit self assessment bank umum. Profil risiko bank umum diukur dengan Non Performing Loan (NPL), Posisi Devisa Netto (PDN) dan Loan to Deposit Rasio (LDR). Rentabilitas bank umum diukur dengan Return on Asset (ROA) dan Net Interest Margin (NIM). Hasil penelitian menunjukkan bahwa GCG berpengaruh negatif terhadap NPL. GCG tidak berpengaruh terhadap PDN dan LDR. GCG berpengaruh positif terhadap ROA dan NIM. Penelitian ini menggunakan sampel 23 bank umum di Indonesia yang terdaftar di Bursa Efek Indonesia (BEI). Kata kunci: self assessment good corporate governance nilai komposit, NPL, PDN, LDR, ROA, NIM, bank umum ABSTRACT. The purpose of this research is to analyze the influence of good corporate governace (GCG) of profile risks and rentabilitas commercial banks in Indonesia on 2011-2015. Good governance coporate (GCG) measured by the composite self assessment commercial banks. Profile risk commercial banks measured by non performing loan (NPL), the net open position (NOP) and loan to deposit the ratio (LDR). Rentabilitas commercial banks measured by return on assets (ROA) and net interest margin (NIM). The research results show that GCG have a negative influence on NPL. GCG has not been affecting the PDN and LDR. GCG influential positive to ROA and NIM. This research using sample 23 commercial banks in indonesia listed on the Indonesian Stock Exchange (IDX).

The impact of liquidity and profitability on stock earnings of food and beverage companies listed on the Indonesian Stock Exchange. The purpose of this study is to examine whether the liquidity ratio (current ratio, cash ratio) and profitability (ROA, ROE) affect the return on equity of food and beverage companies listed on the Indonesian Stock Exchange. That is. The data collection techniques used were performed using documented methods. The test used in this study is multiple linear regression used as an analytical tool, and t-test and f-test are used to test hypotheses. The results of this study suggest that the liquidity ratio has a partial positive but minor impact on stock returns. Profitability (ROA has a positive impact, but is not significant, while ROE has a large positive impact on stock returns). On the other hand, the liquidity ratio (current ratio, cash ratio) and profitability ratio (ROA, ROE) will affect the stock returns of food and beverage companies listed on the ...

The purpose of this study was to determine the effect of macroeconomic fundamental factors and corporate fundamental factors on the value of the company in the plantation subsector which was listed on the Indonesia Stock Exchange (IDX) in 2014-2018. The number of samples in this study was 10 companies for 5 years and produced with purposive sampling method. This study used panel data regression regression with random effect model. Companies values variable was represented by Price Book Value (PBV). The macroeconomic fundamental factors were consist of inflation rate, exchange rate, and interest rate. While the company fundamental factors consisting of profitability and leverage. The results of this study showed that exchange rate, inflation rate, profitability and leverage had at significant effects on the value of the company, but the interest rate did not significantly effect on value.

The weakening of the value of the rupiah against the US dollar has made Indonesia again experiencing economic crisis conditions. However, this condition did not make the performance of the banking sector share decline and vice versa, defeating nine other industrial sectors, this indicates that the firm value in the banking sector is still considered good by investors, which are the factors that influence the firm value? This study aims to analyze the factors that influence firm value in the banking sector and can be used by investors in making investment decisions. This research uses secondary data with 12 sample companies in the banking sector listed on the Indonesia Stock Exchange in the 2011-2016 period using the purposive sampling method and panel data regression analysis. The results of this study indicate that the variable interest income, a debt-equity ratio (DER) and firm age (AGE) influence the firm value (FV), while the managerial ownership variables and earnings per share (EPS) do not affect the firm value (FV). The results of these studies are expected to help companies and investors in decision making. Abstrak Melemahnya nilai Rupiah terhadap US Dollar membuat Indonesia kembali mengalami kondisi krisis ekonomi. Namun kondisi tersebut justru tidak membuat kinerja saham sektor perbankan menurun bahkan sebaliknya, mengalahkan sembilan sektor industri lainnya hal ini menunjukkan bahwa nilai perusahaan pada sektor perbankan masih dinilai baik oleh investor yang menjadi pertanyaan, apa saja faktor-faktor yang mempengaruhi nilai perusahaan? Penelitian ini bertujuan untuk menganalisis faktor-faktor yang mempengaruhi nilai perusahaan pada sektor perbankan dan dapat digunakan oleh investor dalam mengambil keputusan investasi. Riset ini memakai data sekunder dengan 12 sampel perusahaan pada sektor perbankan yang terdaftar di Bursa Efek Indonesia periode 2011-2016 dengan menggunakan metode purposive sampling dan analisis regresi data panel. Hasil penelitian ini menunjukkan bahwa variabel pendapatan bunga, debt-equity ratio (DER) dan umur perusahaan memberikan pengaruh terhadap nilai perusahaan, sedangkan variabel kepemilikan manajerial dan earning per share (EPS) tidak berpengaruh terhadap nilai perusahaan. Hasil penelitian tersebut diharapkan dapat membantu perusahaan dan investor dalam pengambilan keputusan.