ANALISIS KINERJA KEUANGAN PERUSAHAAN YANG TERDAFTAR DI BURSA LQ45 SEBELUM, SELAMA, DAN SESUDAH PANDEMI COVID-19

Purpose of Study: This study was conducted with the aim to examine the effect of CR, DAR, DER, ROE, GPM, OPM, and NPM simultaneously to financial performance (ROA) and the effect of CR, DAR, DER, ROE, GPM, OPM, and NPM partially toward financial performance (ROA). Methodology: The sample of companies used in this study as many as 16 companies from 45 companies listed in the LQ45 Index period 2012-2016 with Purposive Sampling Technique. The independent variables used are Current Ratio (CR), Debt to Assets Ratio (DAR), Return on Equity (ROE), Gross Profit Margin (GPM), Operating Profit Margin (OPM), and Net Profit Margin (NPM) while the dependent variable is Return on Assets (ROA) as an indicator of Financial Performance. The analysis used in this research is the Multiple Regression Analysis. Results: The results show that CR, DAR, DER, ROE, GPM, OPM, and NPM have an effect toward ROA; CR, DAR, DER have no significant partial effect on ROA; and ROE, GPM, OPM, NPM have a partially significant effect on ROA. Implications/Applications: Regression test results ROE, GPM, OPM, and NPM partially indicate that the independent variables studied have a significant influence on ROA.

The significant growth of the domestic cement industry has increased competition between companies, thus demanding that companies improve their financial performance. For this reason, this study was conducted on three cement sub-sector companies listed on the IDX in the 2016-2018 periods with quota sampling. Researchers using comparison method to financial performance using liquidity ratios, solvency and profitability ratios with industry standard ratios. The results showed that in terms of the company's liquidity ratio of Current Ratio (CR), Quick Ratio (QR) and Cash Ratio (CsR) of PT. Indocement Tunggal Tbk and PT. Semen Baturaja Tbk shows good financial performance since above the industry average. Meanwhile, PT. Semen Indonesia Tbk shows less financial performance since the CR, QR and CsR are below the industry average. Meanwhile, in terms of the company's solvency ratio by using Debt to Equity Ratio (DER) of PT. Indocement Tunggal Tbk, PT. Semen Baturaja Tbk and PT. Semen Indonesia Tbk shows good financial performance since the DER is below the industry average, while Debt to Assets Ratio (DAR) of PT. Indocement Tunggal Tbk and PT. Semen Baturaja Tbk shows good financial performance since the DAR is below the industry average, while PT. Semen Indonesia Tbk shows less financial performance because its DAR is above the industry average. Furthermore, in terms of company profitability by using Return on Assets (ROA), Return on Equity (ROE), Net Profit Margin (NPM) of PT. Indocement Tunggal Tbk, PT. Semen Baturaja Tbk and PT. Semen Indonesia Tbk shows less of financial performance since the ROA, ROE and NPM are below the industry average, while from Operating Profit Margin (OPM) PT. Indocement Tunggal Tbk, PT. Semen Baturaja Tbk and PT. Semen Indonesia Tbk shows good financial performance because its OPM is above the industry average.

The trade sector is one of the biggest economic generators and the most contributing sector towards the gross domestic product (GDP). Unfortunately, the growth of the trade sector stumbles due to the Covid-19 pandemic. According to BPS, this sector is one of the real sectors that is greatly affected by the pandemic situation whereas the demand side experiences a big slump due to the lockdown which makes in and out goods hardly possible. Thus, it leads to the decline of export and import transactions. This study mainly attempts to investigate whether there are significant differences in financial performance during the Covid-19 pandemic and before in trading, service, and investment sector companies listed on the Indonesia Stock Exchange (IDX). Documentation study is implemented as a data collection technique with a quantitative comparative approach. Variables included in this study are Current Ratio (CR), Quick Ratio (QR), Cash Ratio (CR), Net Profit Margin (NPM), Gross Profit Margin (GPM), Operating Profit Margin (OPM), Return on Equity (ROE), Return on Assets (ROA), Debt to Equity Ratio (DER), and Debt to Assets Ratio (DAR). While the analytical technique used in testing the hypothesis is the Paired Sample T-Test and the Wilcoxon Sign Rank Test in the SPSS (Statistical Package for Social Science) program. Research finding shows significant differences in Net Profit Margin (NPM), Gross Profit Margin (GPM), Operating Profit Margin (OPM), Return on Equity (ROE), and Return on Assets (ROA) before and during the Covid-19 pandemic.
 Keywords: Covid-19, Financial Performance, Liquidity Ratio, Profitability Ratio, Solvency Ratio, Indonesia

This study aimed to analyze the differences in financial performance before and after mergers and acquisitions based on financial ratios : Current Ratio (CR), Quick Ratio (QR), Debt to Assets Ratio (DAR), Debt to Equity Ratio (DER), Return On Assets (ROA), Return On Equity (ROE), Gross Profit Margin (GPM), Operating Profit Margin (OPM), Net Profit Margin (NPM), Fixed Assets Turnover (FATO), Total Assets Turnover (TATO), dan Earnings Per Share (EPS) at the companies listed on the Stock Exchange. This type of research is comparative , and sampling using purposive sampling. The type of data using quantitative data and data sources obtained from secondary data. The analysis technique used is the model for the Kolmogorov-Smirnov test for normality, and parametric test Paired Sample T Test to test hipoteisis. The results showed that there were significant differences between before and after mergers and acquisitions based on financial ratios Debt to Assets Ratio (DAR) in the comparative period of 2 years before and 2 years after puberty and acquisitions as well as comparison of 2 years before the 3 years after the mergers and acquisitions. The results also showed a significant difference based on financial ratios Debt to Equity Ratio (DER) at a ratio of 2-year period prior to 2 years after the mergers and acquisitions. While based on the ratio of Current Ratio (CR), Quick Ratio (QR), Return on Assets (ROA), Return on Equity (ROE), Gross Profit Margin (GPM), Operating Profit Margin (OPM), Net Profit Margin (NPM), fixed Assets Turnover (FATO), Total Assets Turnover (TATO), and Earnings Per Share (EPS), the results showed that there were no significant differences for all the study period.Keywords: Mergers and acquisitions, financial performance, quantitative, Paired Sample T Test

Financial Performance is the result or achievement that has been achieved by the company's management in carrying out its function in managing company assets effectively for a certain period. This financial performance is needed by the company to know and evaluate the extent of the company's success rate based on the financial activities that have been carried out. Stock returns can be used as a performance measure, because stock returns can interpret the company's management ability in carrying out its business to get results from good financial performance. Therefore, it is necessary to measure Profitability ratios (Return on Assets, Return on Equity, Net Profit Margin) and Solvency ratios (Debt to Asset Ratio, Debt to Equity Ratio).
 This study aims to determine the effect of Profitability Ratios (Return on Assets, Return on Equity, Net Profit Margin) and Solvency Ratios (Debt to Asset Ratio, Debt to Equity Ratio) on the financial performance of a company. The sample used is the financial statements of the Indonesia Stock Exchange with the Pharmaceutical sub-sector with 05 samples that meet the criteria for research. The research method uses multiple linear regression analysis with simultaneous T test and F test hypothesis testing.
 The results based on the Partial T Test (1) Return on Assets (ROA) has a negative effect on financial performance, (2) Return on Equity (ROE) has a positive effect on financial performance, (3) Net Profit Margin (NPM) has a negative effect on financial performance. (4) Debt to Asset Ratio has a negative effect on Financial Performance, (5) Debt to Equity Ratio has a positive effect on Financial Performance and for the simultaneous F test, the results show that simultaneously Return on Assets, Return on Equity, Net Profit Margin, Debt to Assets Ratio, Debt to Equity Ratio affect Financial Performance.
 
 Keywords: Profitability Ratio, Return on Assets, Return on Equity, Net Profit Margin, Solvency Ratio, Debt to Asset Ratio, Debt to Equity Ratio, Financial Performance, Stock Return.

The purpose of this study was to determine whether the Current Ratio (CR), Debt Equity Ratio (DER), Total Assets Over Turen (TATO), net profit margin (NPM), Debt to Assets Ratio (DAR), Return on Assets (ROA) , Return on Equity (ROE), Gross Profit Margin (GPM), Operating Profit Margin (OPM) influential in distinguishing healthy firms and perusahaa bankruptcy discriminant model. Based on discriminant analysis of known groups of healthy companies and a group of companies that went bankrupt differ significantly, from 9 (nine) variables are in use only 4 (four) variable Current Ratio, Debt Equity Ratio, Net Profit Margin, and Gross Profit Margin is selected and able to differentiate healthy companies and companies go bankrupt, while the 5 (five) of the variables, Turn Over Total Assets, Debt to Assets Ratio, Return on Assets, Return on Assets, and Operating Profit Margin are not able to differentiate healthy and bankrupt companies.
 
 Keywords: Current Ratio ,Debt Equity Ratio, Total Assets Turen Over , Net profit Margin , Return on Assets, Return on Equity

The purpose of this study was to analyze the effect of Return on Assets (ROA), Return on Equity (ROE), Net Profit Margin (NPM), Debt to Asset Ratio (DAR), Debt to Equity Ratio (DER) and Earning per Share (EPS) towards the share price of telecommunications companies in Indonesia. The population of this study is a company engaged in telecommunications registered on the Indonesia Stock Exchange in 2012-2017. This study used a purposive sampling method which resulted in a total sample of 30 samples. The analysis technique of this study uses multiple linear regression to describe the relationship between one variable with other variables. The results of this study indicate that the ROE, and DER variables have a positive and significant effect on the share price of telecommunications companies, for the variables ROA, NPM, DAR and EPS do not have a positive and significant effect on the share price of telecommunications companies. On the other hand, the variables ROA, ROE, NPM, DAR, DER and EPS together have an influence on the share price of telecommunications companies. The adjusted R-Square value is 0.538, this means that 53.8% of the dependent variable stock price can be influenced by the variables ROA, ROE, NPM, DAR, DER and EPS.

The objective of the research was to find out and to analyze the influence of Return on Equity, Current Ratio, Debt to Assets Ratio, and Return on Assets simultaneously and partially on Stock Return with Stock Price as moderating variable in 146 consumer goods companies listed in the Indonesia Stock Exchange, and 87 of them were used as the samples. The data were processed by using Kaiser-Meyer-Olkin (KMO) test and analyzed by using multiple linear regression analysis. The result of the research showed that Return on Equity, Current Ratio, Debt to Assets Ratio, and Return on Assets simultaneously had significant influence on Stock Return. Partially, Return on Equity had positive but insignificant influence on Stock Return, Debt to Assets Ratio had negative and insignificant influence on Stock Return, Current Ratio had negative but significant influence on Stock Return, and Return of Assets had positive but significant influence on Stock Return. From the result of the test on moderating variable, it was concluded that Stock Price was not able to moderate the correlation of Return on Equity, Current Ratio, Debt to Assets Ratio, and Return on Assets with Stock Return.

Financial performance is one of the indicators in assessing a company's success in generating profits. Financial performance in this case is measured through the Profitability Ratio through the measuring tools Net Profit Margin, Return On Equity and Return On Assets, while Liquidity is measured through the Current Ratio and Quick Ratio. This study aims to determine Profitability ratios seen from Net Profit Margin, Return On Assets and Return On Equity and Liquidity ratios seen from Current Ratio and Quick Ratio at PT. Mayora Indah Tbk Period 2018-2022. Analysis of Financial Statements with Profitability and Liquidity ratios in this study is based on Kashmir's opinion. The method used in this research is descriptive quantitative. The results of this study based on profitability ratios indicate that the company's financial performance is poor and inefficient as seen from the average value of the company's Net Profit Margin (NPM), Return On Equity (ROE) and Return On Assets (ROA) ratios below the industry standard average value in the opinion of Kashmir and below the actual standard average time series for the food and beverage industry of a similar kind. Based on the Liquidity ratio, it shows that the company's financial performance is very good and efficient, seen from the average value of the company's Current Rati and Quick Ratio ratios above the industry standard average value in the opinion of Kashmir and above the actual average time series standard for the food and beverage industry of a similar kind.

Asset growth describes how the company invests its own funds for operations and investments. Asset growth is a change (increase or decrease) in the total assets owned by a company. This study aims to examine total assets, total liabilities, total equity, total revenues, dividends, Earnings Per Share (EPS), Book Value (BV), Debt to Asset Ratio (DAR), Debt to Equity Ratio (DER), Return On Asset (ROA), Return On Equity (ROE), Gross Profit Mergin (GPM), Operating Profit Margin (OPM), Net Profit Margin (NPM), payout ratio, and yield which has a significant effect on asset growth based on financial performance in LQ45 indexed companies in 2016–2019. The population used in this study is LQ45 indexed companies listed on the Indonesia Stock Exchange in 2016–2019, the data used in this study is secondary data. The total sample is 56 enterprises. We analyse the data with binary logistic regression analysis. The results showed that total assets, total liabilities, total revenues, dividends, Earnings Per Share (EPS), Book Value (BV), Debt to Asset Ratio (DAR), Debt to Equity Ratio (DER), Return on Asset (ROA), Return on Equity (ROE), Gross Profit Mergin (GPM), Net Profit Margin (NPM), and payout ratio did not have a significant effect on asset growth. Financial performance that has a significant effect on asset growth obtained 3 free variables, namely total equity, Operating Profit Margin (OPM), and yield. Other variables, although they have an influence, do not have a significant effect on asset growth. The result of reseach from the sixteen variables, three variables were found that had an effect on the response.

This study aimed to examine the effect of profitability ratio on stock price of companies listed in LQ45 index in Indonesia Stock Exchange (BEI). Profitability ratios here in include Net Profit Margin (NPM), Return on Assets (ROA), Return on Equity (ROE), and Eearning Per Share (EPS). This study was conducted to assess the financial performance of the company to generate earnings from an investment.This study uses secondary data. The population in this study is the companies included in the LQ45 index from 2010-2013 amounting to 78. The total sample is 16 companies belonging to and representing several sectors including the financial sector companies, automotive, property, plantation, infrastructure, mining, industrial cement, as well as the consumer goods industry are consistently incorporated in the four observation period 2010-2013 in LQ45 index that has been determined through purposive sampling method. Method of hypothesis testing using Classical Assumption Test, Regression, t test, F test, and the coefficient of determination by alpha (α) of 5%.Regression analysis showed that in partial Net Profit Margin (NPM), Return on Assets (ROA) and Return On Equity (ROE) significantly influence the stock price while the variable Eearning Per Share (EPS) has no significant effect on stock price. Simultaneously all variables Net Profit Margin (NPM), Return on Assets (ROA), Return on Equity (ROE), and Eearning Per Share (EPS) have a significant effect on stock price. The value of coefficient of determination (R2) of 0.899, which means that the independent variable Net Profit Margin (NPM), Return on Assets (ROA), Return on Equity (ROE), and Eearning Per Share (EPS) is able to explain the variation of the dependent variable stock price by 89,9%, while the remaining 10.1 % is explained by other variables outside of the variables used in the study.

The study aims to determine and analyze the effect of the variable current ratio, debt to equity, debt to assets, return on assets, return on equity, net profit margin, and price earning ratio on stock prices in the infrastructure company PT BEI. This type of research is a quantitative research using secondary data. The sample used in this study were 38 infrastructure companies on the Indonesia Stock Exchange during the 2018-2021 period that met the criteria in this study. Sampling in this study using purposive sampling technique. The data analysis technique in this study uses multiple linear regression analysis techniques (multiple linear regression). Based on the result of this study, it is known that the variable Current Ratio, Debt to assets, has an insignificant negative effect on stock prices. Variables Debt to Equity, Return on Assets, Return on Equity, Net Profit Margin, and Price Earning have no significant positive effect on stock prices. The result of the test show that the variables are Current Ratio (CR), Debt to Equity Ratio (DER), Debt to Assets Ratio (DAR), Return on Assets (ROA), Return on Equity (ROE), Net Profit Margin (NPM), Price Earning (P/E) have a significant effect on stock prices

The purpose of this study was to analyze the effect of capital structure proxy for debt to asset ratio (DAR) and the debt to equity ratio (DER), company size and profitability are proxied by return on assets (ROA), return on equity (ROE) and net profit margin (NPM) to the stock price on the company's Food and Beverage listed on the Indonesia Stock Exchange. This study uses Associative approach. The population in this study is the Food and Beverage companies listed in Indonesia Stock Exchange year period 2011 to 2014. Sampling method used is purposive sampling and the amount of samples obtained is 11 companies with 44 observations. Hypotheses were tested using multiple regression analysis. Results of the study were 1) capital structure proxy for debt to asset ratio (DAR) significant negative effect on stock prices, this means that if a decline in the value of DAR, the stock price will rise, 2) capital structure proxy for debt to equity ratio (DER) significant positive effect on stock prices, it means that the higher the value of DER then be followed by a decrease in stock prices, 3) The company size significant positive effect on stock prices, this suggests that the relationship between the SIZE with stock prices in the same direction, if SIZE increases, the stock price will increase, 4) profitability is proxied by return on assets (ROA) significant positive effect on stock prices, this means that the assets of the company to make a profit can affect stock prices, 5) profitability proxied with a return on equity (ROE) significant negative effect, this means that if a decline in ROE it will be followed by a decrease in stock prices, and 6) Profitability which is proxied by net profit margin (NPM) significant negative effect on stock prices, this means that while the net profit increased, the total sales will rise this is due to the high costs incurred by the company so that NPM has no effect on stock prices.

This study aims to analyze the differences in the company's financial performance before and after the merger in companies that carry out merger activities. Company performance is measured using financial ratios: Current Ratio (CR), Debt to Asset Ratio (DAR) Debt to Equity Ratio (DER), Net Profit Margin (NPM). Return On Assets (ROA), Return On Equity (ROE). This research was conducted using a quantitative method, by taking data from all public companies that merged on the Indonesia Stock Exchange (IDX) with a time span between 2014-2020, the sampling in this study used the purposive sampling method, with data obtained as many as 30 companies. who did the merger. The descriptive statistical test used is the Independent Sample T-test and the Paired Sample T-test to answer the hypothesis. The results of this study indicate that in partial testing that the current ratio shows a significant difference in the overall comparison before and after the merger. while the five financial ratios, namely DAR, DER, NPM, ROA, and ROE showed no difference three years before and three years after the merger

This study aims to examine the effect of investment decisions, funding decisions, profitability and dividend policy on firm value in manufacturing companies listed on the Indonesia Stock Exchange for the period 2014-2018. The independent variables used are investment decisions proxied by price earning ratio (PER), funding decisions proxied by debt to equity ratio (DER) and debt to assets ratio (DAR), profitability as proxied by return on assets (ROA), return on equity (ROE) and net profit margin (NPM) and dividend policy as proxied by dividend payout ratio (DPR), and dividend yield. The dependent variable used is the firm value which is proxied by the price book value (PBV). The population of this study are manufacturing companies listed on the Indonesia Stock Exchange. By using purposive sampling method, 26 companies were taken as samples. The analytical technique used is Structural Equation Modeling (SEM) with the help of the SmartPLS3 program. The results showed that investment decisions (PER), funding decisions (DER, DAR), and profitability (ROA, ROE and NPM) had a positive and significant effect on firm value (PBV). This means that increasing investment decisions (PER), funding decisions (DER, DAR), and profitability (ROA, ROE and NPM) can increase firm value (PBV). On the other hand, dividend policy has a negative but not significant effect. This means that increasing or decreasing dividend policy does not affect firm value.