Basic Sectors Research Articles

Does Tax Avoidance Affect Company Values in Indonesia in 2020 – 2022?

This research aims to prove whether the decreasing trend in tax avoidance can increase company value and vice versa. Company value as a dependent variable is proxied using Tobin’s Q formula, tax avoidance as an independent variable is proxied using the GAAP ETR formula, and firm size as a moderating variable is proxied using the natural logarithm of total assets. The type of data used is secondary archival data in the form of financial report data of non-financial companies for the period 2020 to 2022 that are listed on the Indonesia Stock Exchange. The sample obtained was 705 financial reports and the data was then analyzed using structured equation modeling. The results of the research show that tax avoidance has a significant positive effect on the company value of energy sector companies from 2020 to 2022 at an error rate of 5%, and firm size can moderate tax avoidance so that it has a significant negative effect on the company value of basic material sector companies from 2020 to 2022 at an error rate of 10%.

TOWARD ENHANCED STOCK VALUE: Exploring the Nexus of Financial Performance, Company Size, and Dividend Policy in Optimization Strategies

In Indonesia, the development of basic industrial and chemical companies is quite rapid, it can be seen from the development of basic industrial and chemical companies listed on the Indonesia Stock Exchange (IDX) or becoming public companies from year to year increasing. The purpose of this study is to determine and analyze dividend policy, moderate the size of the company against the share price of manufacturing companies in the basic industrial and chemical sectors listed on the Indonesia Stock Exchange. The method used is the titative descriptive method. The total research population is 88 companies while the number of research samples is 20 companies. Before testing the hypothesis, the researcher first uses the classical assumption test consisting of the normality test, hetoregenity test, autocorrelation test, and multicollinearity test. The results of the study with Moderated Regression Analysis (MRA) testing show that the Dividend Policy is able to moderate the influence of Company Size on Share Prices in Basic Industrial and Chemical Companies listed on the Indonesia Stock Exchange

Pengaruh Indikator Pertumbuhan Perusahaan, Kebijakan Hutang dan Kemampuan Menghasilkan Laba terhadap Kinerja Saham

The aim of this research is to examine the influence of company growth indicators, debt policy and profit-generating ability on stock performance in basic industrial and chemical sector companies listed on the Indonesia Stock Exchange (BEI) for the period 2017 - 2021. Company growth indicators are proxied by sales growth and growth. assets, debt policy is proxied by the debt to equity ratio (DER) and long term debt to equity ratio (LDER), the ability to generate profits is proxied by return on assets (ROA) and return on equity (ROE), stock performance is proxied by stock returns. The sample selection technique is purposive sampling method, research data is secondary data obtained from the Indonesia Capital Market Directory for the period 2017 - 2021. The data analysis method used is multiple regression analysis with the eviews 12.0 application tool. The research method stages consist of; descriptive statistics, panel data regression model selection, classical assumption testing, multiple regression analysis, hypothesis testing and conclusions. It is hoped that this research can contribute to writing scientific journals and be published in accredited scientific journals, Sinta. The results of the research show that the variables sales growth, asset growth, debt to equity ratio (DER), long-term debt to equity ratio (LDER) and return on equity (ROE) do not partially have a significant effect on stock returns, while the variable return on assets ( ROA) partially has a positive and significant effect on stock returns.

Pengaruh Tax Planning, Investment Opportunity Set dan Growth Opportunity Terhadap Nilai Perusahaan

This study aims to examine and obtain empirical evidence of the effect of tax planning, investment opportunities and growth opportunities on firm value. Sampling using purposive sampling obtained a sample of 9 companies with 45 data. The population in this study are manufacturing companies in the basic and chemical industry sectors which are listed on the Indonesia Stock Exchange during the period 2017 – 2021. The regression model in this study is multiple linear regression analysis. The results of the study show that there is a significant positive influence between the investment opportunity set on firm value, meaning that the higher the investment opportunity set of a company, the higher the tendency of the company to increase firm value in manufacturing companies in the basic industrial and chemical sectors. And the results of the study show that there is no effect of tax planning and growth opportunities on firm value, meaning that the company is not motivated by the value of the company that will be generated but rather towards a smaller tax that must be paid without taking into account the stock price besides that there is a change in the total assets owned by the company in During the research period, economic conditions were unstable, so companies were unable to increase firm value in manufacturing companies in the basic and chemical industries.

Rasio Profitabilitas dan Kinerja Saham

This study aims to test the effect of Return on Equity (ROE), Return on Investment (ROI) and Operating Profit Margin (OPM) on stock performance. This research was conducted on basic industrial and chemical sector manufacturing companies listed on the IDX. 77 companies were used as samples with an observation number of 230 companies. The sampling method used purposive sampling with multiple linear regression analysis. This study used secondary data in the form of company financial statements downloaded through the company's www.idx.co.id and official website. The results showed that only Return on Equity has a positive effect on stock performance while the Return on Investment (ROI) and Operating Profit Margin (OPM) do not affect stock performance. This research is expected to strengthen empirical evidence regarding the influence of profitability factors on an entity's stock returns. This research has limitations, namely that it only tests the influence of fundamental factors in the form of financial profitability ratios, so that further research can involve fundamental factors outside the company's financial performance, such as macroeconomic factors.

Leverage, Capital Intensity, dan Agresivitas Pajak dengan Komisaris Independen sebagai Variabel Pemoderasi

The aim of the research is to see how leverage and capital intensity influence tax aggressiveness in companies and to see whether independent commissioners in the relationship between leverage and capital intensity influence corporate tax aggressiveness. The population is companies operating in the basic industrial and chemical manufacturing sector, totaling 78 companies, with a sample of 28 companies determined using a non-probability sampling method with purposive sampling technique used as the sampling technique. The analysis technique uses Moderated Regression Analysis. The results of this research say that Leverage has a positive influence on tax aggressiveness. Capital intensity has no influence on tax aggressiveness. Independent commissioners are unable to moderate leverage and capital intensity on tax aggressiveness.
 Keywords: Awareness; Leverage, Capital Intensity, Aggressiveness, Independent Commissioner

Manajemen Laba, Sales Growth, Good Corporate Governance dan Tax Avoidance

Tax avoidance practices carried out by taxpayers (companies) can cause losses to the country and can hinder national development. The research aims to obtain empirical evidence regarding the influence of earnings management, sales growth, and good corporate governance on tax avoidance. The research was conducted at basic industrial and chemical sector companies listed on the Indonesia Stock Exchange for the 2017-2021 period with a sample size of 120 observations determined using a purposive sampling technique. The data analysis technique used is panel data regression analysis with EViews 12 software. The research results show that earnings management and audit committees have a negative effect on tax avoidance and sales growth and independent commissioners have a positive effect on tax avoidance. Institutional ownership and audit quality have no effect on tax avoidance.
 Keywords: Tax Avoidance; Earnings Management; Sales Growth; Good Corporate Governance

Pengaruh Profitabilitas dan Gender Diversity terhadap Luas Pengungkapan CSR (Corporate Social Responsibility)

Company activities not only have positive impacts but also negative impacts, one of the negative impacts is pollution and damage to the surrounding environment. This research aims to analyze the influence of profitability and gender diversity on the extent of Corporate Social Responsibility (CSR) disclosure in energy and basic sector companies listed on the Indonesia Stock Exchange in 2019-2021. CSR disclosure is the dependent variable in this research which is measured based on the 2016 GRI Standard index. The independent variables used in this research are Profitability (ROA and NPM) and gender diversity. Sampling used purposive sampling with a total of 77 data samples. The data analysis method used is multiple linear regression with SPSS 25 software. The research results show that NPM has a positive effect on the extent of CSR disclosure, gender diversity has a negative effect on the extent of CSR disclosure, and ROA has no effect on CSR disclosure.

Income Smoothing Practices in Animal Feed Sub-Sector Companies Listed on the Indonesia Stock Exchange For the 2020-2022 Period

This study aims to analyze Income Smoothing practices in animal feed sub-sector companies with a focus on the financial implications of using the eckel index during the period 2020 – 2022. The sample used is animal feed sub-sector companies in the basic industrial and chemical sectors listed on the Indonesia Stock Exchange, there are 5 companies. Based on calculations using the eckel index derived from the financial statements of each company, This research shows that there are 4 companies that do profit smoothing and 1 company that does not do income smoothing.

Pengaruh Profitabilitas, Financial Leverage Dan Dividend Payout Ratio Terhadap Perataan Laba Pada Perusahaan Manufaktur Di BEI Periode 2019-2022

This research aims to determine the partial and simultaneous effects of profitability, financial leverage and dividend payout ratio on earnings smoothing. This type of research is classified as quantitative research. The population are manufacturing companies that focus on the basic and chemical industry sectors listed on the Indonesia Stock Exchange for the 2019-2022 period with a total of 91 companies. The purposive sampling method as a sampling was obtained as many as 72 companies. Using multiple linear regression analysis as analytical techniques assisted with SPSS version 25. The test results from the research show that partially the profitability (as measured by NPM) had no effect on income smoothing, financial leverage (as measured by DPR) had a negative and significant effect on income smoothing and the dividend payout ratio had a significant effect on income smoothing. While simultaneously the variables of profitability, financial leverage and dividend payout ratio have a significant effect on income smoothing.

Prominent discourses in South African education from the perspective of community psychology: Challenges and opportunities for youth liberation and well-being

Community psychology takes an explicitly political stance by identifying where power lies and how it is exercised in ways that maintain privilege and discrimination against particular groups. From this perspective, we consider the challenges facing school education in South Africa today. Education is positioned as an important site for the liberation and well-being of our country's majority. However, the state of education is marked by persistent inequalities. From a Foucauldian perspective, this paper presents a meta-synthesis of school education literature and identifies prominent discourses circulating around the country's basic education sector: the discourses of democracy, human rights, and good governance; rights; development; scarce skills; the crisis in education; and privatisation are discussed. We consider the role of these discourses in the wider social processes of legitimation and power in education, and subjective implications for youth. We note the various ways in which discourses responsibilise youth and surrounding stakeholders, and how others position them as resources for the neoliberal capitalist economy. We argue for the role of counter-discourses and a collective emancipatory perspective to advance transformational educational change and embrace opportunities in the future.

The Influence of Liquidity and Solvability on the Bond Ratings of Indonesia stock exchange : Evidence From the Raw Materials Sector

Bonds are issued by companies and government agencies seeking capital with long-term debt. Bonds still carry risks for investors, namely the possibility of default, like other financial assets . Bond ratings are one indicator that can be used to measure this risk. Liquidity and sovability ratios can be used as indicators that can assess a company's capacity to pay all short and long term debts on time. The aim of this research is to examine the influence of liquidity ratios and solvency ratios on the bond ratings of basic materials sector companies listed on the Indonesia Stock Exchange. The objects of observation in this research are all public companies in the basic materials sector which are listed on the Indonesia Stock Exchange and whose bonds are rated by PT. Pefindo during the 2017-2021 period. Observations were taken using a purposive sampling technique because they have certain criteria. The method used in this research uses panel data regression analysis techniques with the help of E-Views 12. The research results show that 1) liquidity can be used as a benchmark to influence the rating of a bond and 2) the solvency ratio cannot be used as a benchmark that can influence the rating of a bond.
 
 Key words: bonds; bond ratings; liquidity ratio; solvency ratio; cash ratio; debt to equity ratio

헬스케어 의료관광산업의 경제적 파급효과 비교분석

Purpose - This study aims to analyze the economic ripple effects of the new healthcare medical tourism industry, following the addition of healthcare to the scope of old medical tourism.
 Design/Methodology/Approach - As for methodology, the study divided the basic sectors (381) in the inter-industry relations table into the healthcare medical tourism industry through subtotal addition based on the 2023 KOSIS (extended data of 2019) of the National Statistical Office, reorganizing the inter-industry relations table with large integrated categories (34) and analyzing inter-industry relations with the I-O model.
 Findings - The findings show that the healthcare medical tourism industry had higher production and value-added inducement coefficients, and lower employment and hiring coefficients, than the overall industry average. Its impact coefficient and index of the sensitivity of dispersion, which represent the forward and backward linkage effects of the industry, were both high.
 Research Implications - In this study, an industry-related analysis was conducted by including the healthcare industry converging digital technology in medical tourism to differentiate it from previous studies, and the economic ripple effect was analyzed. The findings demonstrate that the healthcare medical tourism industry has impacts on other industries from multiple angles and, at the same time, is a new growth engine industry to contribute to national economic power and individual health as a high value-added industry.

ANALISIS POTENSI SEKTOR BASIS DAN NON BASIS KOTA DUMAI TAHUN 2019 DAN 2021

The success of a region in improving its economy can be measured from the growth of the Gross Regional Domestic Product (GRDP) from various existing sectors. This Gross Regional Domestic Product (GRDP) growth occurs if the area has a leading sector or a base sector whose growth rate is relatively fast and has strong competitiveness as well as a non-base sector that has the opportunity to become a base sector if the local government is able to condition the existing opportunities into good results. optimal. This study uses secondary data obtained from the Central Statistics Agency (BPS) of Riau Province in the form of time data before covid-19 and after covid-19 in 2019 and 2021. This research was conducted to identify the basic and non-base sectors in the economic structure of Dumai City in in 2019 and 2021 using the LQ (location quotient) analysis method, the Dynamic Location Quotient (DLQ) method. 12 leading sectors, 3 potential sectors, 1 developing sector and 1 lagging sector, with the base sector having the highest average SLQ index value ≥ 1 and the sector which is a non-base sector with an index value < 1.it can be concluded that the emergence of covid-19 in the city of Dumai did not change the basic sector to non-base based on the SLQ and DLQ analysis using the calculation of the PDRB of the city of Dumai in 2019 and 2020.

INFLUENCE INTELLECTUAL CAPITAL ABOUT COMPANY VALUE IN MANUFACTURING COMPANIES IN BASIC AND CHEMICAL INDUSTRY SECTORS LISTED ON THE INDONESIA STOCK EXCHANGE FOR THE PERIOD OF 2019 – 2021

This research was conducted at Manufacturing companies in the Basic Industry and Chemical Sector which are listed on the Indonesia Stock Exchange (IDX) for the 2019-2021 period. This study aims to determine the effect of Intellectual Capital on Firm Value. The population of the research conducted by the researcher was 78 Manufacturing Companies in the Basic Industry and Chemical Sector with a sample of 12 companies with a period of 3 years with a total of 36 companies. Analysis of the data in this study used the classical assumption test and Simple Linear Regression Analysis as an analysis tool that was processed with IBM SPSS 23 Software. The results of the analysis proved that the Coefficient of Determination test (R²) obtained a result of 0.316 or 31.6%, this indicates that the variable (VAIC™) on the dependent variable Firm Value of 31.6%, while the remaining 69.4% is influenced by other variables not included in this study. From the results of the Simple Linear Test, the regression equation is obtained, namely: Y = (-530.964) + 259.169X. The results of the partial T-test study variable value added intellectual coefficient (VAIC™) (X₁) tcount 3.959>ttable (1.691), and a sig value of 0.000 <0.05, indicating that VAIC™ has a significant effect on firm value (Y). Significant Manufacturing Companies in the Basic Industry and Chemical Sector Listed on the Indonesia Stock Exchange for the 2019-2021 period.

Policy intents and the enactment of inclusion in prestigious schools in urban China: can equity and excellence coexist?

ABSTRACT This article addresses the policy intents regarding inclusive education in the Chinese basic education sector, prestigious school principals’ and teachers’ understanding of inclusion, and their current enactment of inclusion in delivering education. Through document analysis and semi-structured interviews, we find that inclusion in China can be understood in two broad categories. One concerns even development and equal access to educational opportunities between regions of different economic development, while the other concerns equal rights and educational opportunities between students with special educational needs and students in regular classrooms. In terms of enactment, the teachers and principals at the prestigious schools sampled focus on different issues to those highlighted in policy documents. Inclusion is often discussed in relation to competition, quality, and outcomes in the schools, rather than access to education and the learning process. When it comes to inclusion criteria, prestigious schools substantively exert their influence to exclude certain students, due to their self-image of excellence. However, based on the ideology of human capital theory, excellence and equity are not seen as incompatible goals in the Chinese educational system.

GRI STANDARDS-BASED SUSTAINABILITY REPORTING DISCLOSURE PRACTICES ACROSS COUNTRIES

The disclosure of sustainability reports based on GRI standards between countries has become a new trend in recent years. This is driven by various factors, such as increasing awareness of sustainability issues, increasing information demands from investors and other stakeholders, and increasing the number of sustainability reporting standards available. This study aims to determine the level of disclosure of sustainability reports in companies engaged in the basic materials and energy industry sector in developed countries (UK, Germany and France) and developing countries (Indonesia, Malaysia and Thailand). The content analysis method is used in this study to assess the content of sustainability reports or integrated company annual reports of 269 selected companies listed in the basic material and energy sectors of the stock exchanges of each country within the period 2019 to 2022. Based on the results of the analysis, it was concluded that the level of sustainability disclosure in accordance with GRI Standards in developed countries is higher than in developing countries for all sectors. In addition, it is also found that there are differences in the completeness of the presentation of sustainability topics where environmental topics are topics that are more fully presented in developed countries in all sectors than in developing countries which are more complete in presenting social topics in all sectors.

Analysis of the Digitization Level of Small and Medium Entrepresis in Tourism. Identifying the Level of Digitization of Businesses from Băile Felix, Bihor, Romania

"The topic of digital transformation in our country has had a major impact on both society and the economy, with all its sectors being a paradigm for them. At the same time, the digital transformation of our country is one of the most important components of the National Recovery and Resilience Plans. This fact is also due to the position on which Romania is ranked within the hierarchy based on the Digital Economy and Society Index (European Commission, 2021. Referring to it, we observe a less favorable position of our country, ranking 27th out of the 27 member states of the European Union (European Commision, 2022) with an annual growth lower than the other countries and less convergent. Thus, in order for the European Union to fulfill its objective of the digital decade, Romania must create the ideal context for a significant change in the pace of training and acquisition of basic digital skills. We therefore observe how the introduction of digital technology has corroborated the way tourism companies assert themselves. Digital technology has become an invaluable business tool widely used in the travel and tourism sector Lee & Wicks (2010). We are talking about an economic-social phenomenon reflected in one of the basic sectors of many nations, whose expansion was particularly pronounced in 2019, 2020, as a result of the collapse left in this industry by the COVID19 pandemic. Digital transformation represents a substantial challenge for both organizations and national economies, being a topic that has sparked interest for academic studies and researchers. Starting from this necessity and carrying out a review of the existing works on the market, it was found that there are no studies related to the digitalization level of tourism businesses in Romania. Thus, the present work evaluates, measures and quantifies the level of digitization of small and medium-sized enterprises in the field of tourism, with Băile Felix resort in Bihor county as a working sample. Keywords: digitalization, tourism, level of digitalization, small and medium entrepresis, digital tools JEL Classification: Z32, Z39"

Economic policy uncertainty, geopolitical risk, market sentiment, and regional stocks: asymmetric analyses of the EU sectors

The purpose of this study is to investigate the asymmetric effects of economic policy uncertainty (EPU), geopolitical risk (GPR), and market sentiment (VIX) on European Union (EU) stocks by sectors of economic activity. The design and methodological approach of our research are rooted in parametric and nonparametric quantile-based techniques. We employ monthly data covering eleven sectors of economic activity in addition to GPR, Global EPU, European Union EPU, United States EPU, and VIX. Our dataset covers the period between February 2013 and September 2022. Our findings show a generally low predictive power of the considered EPU measures on the stock returns of the EU sectors. Notwithstanding, the analysis reveals that EPU from the EU has the highest predictive ability on the EU sectoral stock returns while EPU from the US has no significant predictive ability on the stock returns from the EU. Our findings also highlight the asymmetric effects of various EPUs on EU stocks. Moreover, certain sectoral exposure to EU stocks, found to serve just as diversifiers in normal market conditions, could become a hedge and safe-haven against GPR in extreme economic conditions. Our findings also highlight the role of the VIX as a good gauge to hedge against the downside risks of the EU stocks. The originality of our work is two-fold. First, we extend the study of how global factors influence the EU stock market to the most recent period including the Russia–Ukraine conflict. Second, we perform this study on a sectoral basis. Therefore, the value of our findings is that they provide notable implications for market regulation and portfolio management.

AUDIT REPORT QUALITY, SUSTAINABILITY AND PROFITABILITY ON STOCK PRICE IN INDONESIA SECURITIES

This study examines the relationship between audit reports, sustainability reports, and profitability to stock prices on the Indonesia stock exchange, especially manufacturing companies in the basic industrial and chemical sectors, miscellaneous industrial sectors, and consumer goods industry sectors. Secondary data is generated through audit reports and sustainability reports provided in a structured manner. The population for this study consisted of 211 company populations using 16 samples of manufacturing companies that published audited financial reports and sustainability reports in 2019-2021. The hypothesis was tested using the Multiple Linear Statistical Test. The test was conducted at a significance level of 0.05. The findings of this study reveal that there is a significant relationship between profitability and stock price. Meanwhile, audit reports and sustainability reports do not provide a relationship to stock prices on the Indonesia Stock Exchange. This study recommends increasing the educational aspects of the capital market and investment for the Indonesian people, especially investors, so that it will slowly increase the knowledge of investors and potential investors in Indonesia about the importance of audit reports and sustainability reports.