Beverage Sub-sector Research Articles

Pengaruh Profitabilitas, Ukuran Perusahaan, Tingkat Utang dan Kualitas Audit Terhadap Agresivitas Pajak

This study aims to examine the effect of profitability, firm size, debt levels and audit quality on tax aggressiveness. This study used a purposive sampling method to collect secondary data samples from the annual reports of 18 food and beverage sub-sector companies listed on the Indonesia Stock Exchange (IDX) with a research period of 2020-2022. The analytical method used is multiple linear regression using the SPSS version 25 program. Tax aggressiveness is measured using the Effective Tax Rate (ETR), profitability is measured using Return On Assets (ROA), company size is measured by firm size, debt levels are measured using Debt Assets Ratio (DAR) and audit quality are measured using a dummy variable. The results of this study indicate that profitability and debt levels have a positive effect on tax aggressiveness, while firm size and audit quality have no effect on tax aggressiveness. The implications of this study ensure that the profits obtained by the company are not the result of tax aggressiveness.

Efficiency Analysis of the Food and Beverage Industry in Tanzania: A Comparative Analysis

Purpose: This study examined the performance of food and beverage industries in Tanzania in terms of productive and technical efficiency. The specific objectives of the study were to evaluate the productive efficiency performance of food and beverage industries in Tanzania, to determine the level and trend of efficiency of food and beverage of food and beverage industry in Tanzania, and to assess the levels of productive efficiency performance in the food and beverage subsectors in Tanzania
 Methodology: The study used secondary data to achieve its objectives. The study employed a Panel data analysis technique using 40 companies in the manufacturing sector over a period of three years, 2018-2020. A stochastic frontier production model was applied using a linearized Translog production function to determine the performance elasticity coefficients of inputs and technical efficiency. The study used production theory advanced by Koutsoyiannis (1979) to explain the relatonship between input and output factors.
 Findings: One of the key findings was that the level and trend of efficiency in food and beverage industry demonstrated an upward trend for the period between 2018 and 2020 as evidenced by the changes in average in both food and beverage sub-sector which grew from 0.776 in 2018 to 0.7557 in 2019 and finally to 0.7746 in 2020. Another finding of the study was that, the individual productive efficiency distribution between food and beverage sub-sector revealed that beverage sub-sector performs much better than food sub-sectors, with an average technical efficiency of 77.85% and 81.36% for both food and beverage sub-sectors, respectively.
 Unique Contribution to Theory, Practice and Policy: The study’s unique contributions to theory include its assessment of efficiency levels, analysis of efficiency trends, and exploration of sector-specific variations. Its practical contributions encompass policy recommendations, guidance on modernization and technology adoption, and the importance of skills development and export promotion. These insights have direct implications for policymakers, industry stakeholders, and practitioners in Tanzania's food and beverage sector, aiding in the formulation of effective strategies to enhance efficiency and competitiveness.
 The study recommends that the government and other stakeholders comes up with policy reforms to address the underlying factors contributing to the underutilization of each firm’s production capacity. This includes reforming the input market in the manufacturing sector in order to increase the level of efficiency to 100%. There should be establishment of an efficient marketing mechanism that reduces the involvement of many parties in the supply chain and hence high transaction costs.

The Influence of Firm Size, Capital Structure and Profitability on Firm Value in Food and Beverage Sub-Sector Manufacturing Companies Listed on the Indonesia Stock Exchange

This study aims to determine the effect of company size, capital structure and profitability on company value in food and beverage manufacturing companies listed on the Indonesia Stock Exchange (IDX). The samples used were 14 from 27 populations using a purposive sampling technique with a research period of 8 years, 2015-2022. The analysis technique used is multiple linear regression. The study results show that company size, capital structure and profitability significantly affect firm value in food and beverage companies on the Indonesia Stock Exchange. Partially, capital structure impacts a firm value; profitability significantly affects firm value, while firm size has no significant impact on firm value

Apakah Kualitas Audit Dapat Mempengaruhi Agresivitas Pajak ?

Management of the company can use tax planning strategies in ways that are legal (tax avoidance) or illegal (tax evasion). However, it is crucial to remember that the nation would suffer due to the reduction in one of its primary financial sources. This study examined KAP size, audit duration, audit fees, and tax aggressiveness for companies in the food and beverage subsector listed on the Indonesia Stock Exchange (BEI) between 2017 and 2021. The data was obtained from annual reports that were posted on the official websites of the Indonesian Stock Exchange and other businesses. The sampling strategy employed was purposeful sampling, and 12 businesses were gathered over five years for 60 businesses. The method of analysis used is panel data regression analysis. The results of this study demonstrate the relationship between audit fees, audit duration, KAP size and tax aggressiveness. The size of the KAP, however, impacts tax aggressiveness in the food and beverage subsector companies listed on the Indonesia Stock Exchange between 2017 and 2021. In contrast, audit tenure and audit fees have no impact.

Analisis Rasio Keuangan Terhadap Return Saham Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia Periode 2019-2021

This study aims to determine the effect of the Current Ratio, Debt to Asset Ratio, Working Capital Turnover, Return on Assets and Earning per Share can affect Stock Returns in food and beverage subsector manufacturing companies listed on the Indonesia Stock Exchange in 2019-2021. The population of this study were 38 companies with a sample determination using purposive sampling method, obtained 22 samples during 3 years of observation into 66 data to be processed and analyzed. The results of the study simultaneously Current Ratio, Debt to Asset Ratio, Working Capital Turnover, Return on Assets and Earning per Shares have a significant influence on Stock Return of 28.9%. Partially, Working Capital Turnover has a positive and significant effect on Stock Return. Meanwhile Current Ratio, Debt to Asset Ratio, Return on Assets and Earning per Shares do not significantly influence Stock Returns
 Keywords: Current Ratio; Debt to Asset Ratio;...Earning On Asset; Return on Asset; Stock Returns; Working CapitalTurnover

UKURAN PERUSAHAAN DAN LEVERAGE TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN MANUFAKTUR SUB SEKTOR MAKANAN DAN MINUMAN YANG TERDAFTAR DI BEI TAHUN 2018-2021 DENGAN TAX AVOIDANCE SEBAGAI VARIABEL INTERVENING

A manufacturing company is a company that has a very large production scale compared to other companies, so it can be compared with other company products as well. A company needs a plan to achieve company goals. The company's main goal is to increase it’s value. By increasing it’s value, investors can see that the condition of the company is good. The purpose of this study is to analyze and examine company size and leverage on firm value in manufacturing companies at food and beverage sub-sector through tax avoidance. Data analysis of hypothesis testing in this study uses Partial Least Square - Structural Equation Modeling (PLS-SEM).
 The results of direct effect hypothesis test using PLS 3.0 application show that company size has a positive but not significant effect on tax avoidance, leverage has a negative but not significant effect on tax avoidance, company size has a significant negative effect on firm value, leverage has a significant positive effect on firm value. Tax Avoidance has a positive but not significant effect on firm value. The results of indirect effect hypothesis test show that company size has a positive but not significant effect on firm value through tax avoidance, Leverage has a negative but not significant effect on firm value through tax avoidance,

The Influence of Financial Performance, Managerial Ownership, and Capital Structure on Stock Price

This research aims to determine the influence of return on assets, return on equity, managerial ownership, and capital structure on share prices both partially and simultaneously. The method used for sampling was purposive sampling with several predetermined criteria. The sample obtained was 27 companies with a total of 135 data and the population in this study were companies in the primary consumer goods sector, food and beverage sub-sector which were listed on the Indonesian Stock Exchange for the 2017-2021 period. The regression method in this research uses panel data regression. The research results show that simultaneously return on assets, return on equity, managerial ownership and capital structure have a significant effect on stock prices. Partially, the return on assets variable has a significant positive effect on stock prices. Meanwhile, return on equity, managerial ownership, and capital structure partially do not have a significant effect in a positive direction on share prices.

THE EFFECT OF TAX INCENTIVES AND FINANCIAL DISTRESS ON ACCOUNTING CONSERVATISM

Accounting conservatism is employed to mitigate risk and curb excessive optimism among managers and company owners. However, an excessive application of conservatism may lead to inaccuracies in calculating a company's periodic profit or loss, potentially misrepresenting the company's true financial condition. This study aims to analyze the impact of tax incentives and financial distress on accounting conservatism. The study population comprises food and beverage sub-sector manufacturing companies listed on the Indonesia Stock Exchange (IDX) during the period from 2016 to 2020. Data for this research were collected from 10 companies that met the sample criteria, resulting in a total of 50 research observations over the 5-year period. The study relies on secondary data and employs multiple linear regression analysis to analyze the data. The findings suggest that (1) tax incentives (X1) have a significant influence on accounting conservatism (Y); (2) financial distress (X2) does not have a significant impact on accounting conservatism (Y); and (3) when considered together, tax incentives (X1) and financial distress (X2) collectively influence accounting conservatism (Y).

Pengaruh ROA, ROE, NPM, Dan EPS Terhadap Harga Saham Pada Perusahaan Makanan Dan Minuman Yang Tercatat Pada Bursa Efek Indonesia Tahun 2019-2021

The purpose of this study was to determine the effect of roa, roe, npm, and eps on stock prices in food and beverage companies listed on the Indonesia Stock Exchange in 2019-2021. This study uses quantitative research methods. For the data to be studied using the purpose sampling technique with the data source used is secondary data. The population used in this study is a food and beverage sub-sector company listed on the Indonesia Stock Exchange in the period 2019 to 2021. The results of this study are 1) ROA has no effect on stock prices in food and beverage sub-sector companies listed on the Indonesia Stock Exchange in 2019-2021. 2) ROE has no effect on stock prices in food and beverage subsector companies listed on the Indonesia Stock Exchange in 2019-2021. 3) NPM has no effect on stock prices in food and beverage subsector companies listed on the Indonesia Stock Exchange in 2019-2021. 4) EPS has no effect on stock prices in food and beverage subsector companies listed on the Indonesia Stock Exchange in 2019-2021.

ANALISIS PENGARUH LABA BERSIH, RETURN ON EQUITY, RETURN ON ASSET TERHADAP HARGA SAHAM PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BEI PERIODE 2017-2021

This study aims to determine the analysis of the effect of net income, ROE, ROA on the stock prices of manufacturing companies in the food and beverage sub-sector listed on the Indonesia Stock Exchange (IDX) for the 2017-2021 period. This research consists of variables Net Profit Margin (X1), Return On Equity (X2), Return On Assets (X3) to Stock Price (Y). This study uses quantitative data types, while the data sources use secondary data with library research data collection techniques. The data processing technique used is data processing with SPSS version 25 software. Based on the results of the study, it was concluded that partially the variables of Net Profit Margin (X1), Return On Equity (X2), Return On Assets (X3) showed a significant effect on stock prices ( Y). The results of the joint test of Net Profit Margin (X1), Return On Equity (X2), Return On Assets (X3) variables show the effect on Stock Price (Y). The coefficient of determination of 58.9% indicates that the variables Net Profit Margin (X1), Return On Equity (X2), Return On Assets (X3) have an influence of 58.9% on stock prices and the remaining 41.1% is influenced by variables -other variables that were not examined in this study

Pengaruh Profitabilitas Terhadap Nilai Perusahaan Dengan Corporate Social Responsibility (Tanggung Jawab Sosial Perusahaan) Sebagai Variabel Moderating (Studi Empiris Di Perusahaan Manufaktur Subsektor Makanan Dan Minuman Yang Terdaftar Di Bursa Efek Indo

This study aims to determine and analyze the effect of profitability on firm value withcorporate social responsibility as a moderating variable in food and beverage sub-sectormanufacturing companies listed on the Indonesia Stock Exchange in 2017-2020. Thisresearch approach uses quantitative methods. The population in this study amounted to 30.The sampling technique used was purposive sampling, based on the purposive samplingtechnique, the sample obtained in this study amounted to 14 companies. The data analysismethod in this study was carried out using panel data testing, data processing was carriedout using the Eviews program. The results show that profitability has a significant effect onfirm value in food and beverage sub-sector manufacturing companies listed on the IndonesiaStock Exchange in 2017-2020 and Corporate Social Responsibility does not moderate theeffect of profitability on firm value in food and beverage sub-sector manufacturingcompanies. listed on the Indonesia Stock Exchange in 2017-2020.

ANALISIS RASIO KEUANGAN DAN FINANCIAL DISTRESS SEBELUM DAN SESUDAH COVID-19 SUBSECTOR FOOD AND BEVERAGE

after, and during the covid 19 pandemic. The sample taken was purposive sampling in food and beverage subsector manufacturing industry companies listed on the Indonesia Stock Exchange for the period 2018-2021. The data analysis method used is the difference test or the Anova analysis method. Where the results showed CR, ROA, DAR, and TATO there was a difference in financial distress every period of the year, except in 2021 CR there was no significant difference in FD. It is hoped that the results of this study can be a benchmark in determining policies to avoid financial distress.Keywords: financial distress, financial ratio, Altman z-score

The Effect of Family Ownership and Institutional Ownership on Agency fees in Manufacturing Companies Listed on the Indonesia Stock Exchange

This study aims to determine the effect of family ownership and institutional ownership on agency costs in manufacturing companies listed on the Indonesia Stock Exchange. This research was conducted at manufacturing companies in the food and beverage sub-sector that were listed on the Indonesia Stock Exchange (IDX) for 2018-2022 which had complete data (family ownership, institutional ownership and SGA) of 9 companies with 45 years of observation. This research used a descriptive approach quantitative and non-parametric statistical tests with the Spearman approach. Data processing using SPSS software version 16.0. The results show that family ownership and institutional ownership are not significant to agency costs. Family Ownership has a very weak correlation to agency costs. Meanwhile, family ownership has a very high correlation with agency costs. Family ownership has a negative relationship direction. Meanwhile, institutional ownership has a positive relationship direction. With reference to the results of this study, companies need to increase the activities of institutional investors in carrying out supervision in carrying out collective actions so that agency costs can be reduced because low agency costs are very important for companies to attract investors and are considered to provide satisfactory feedback. for investors.

PENGARUH LEVERAGE, GOOD CORPOTATE GOVERNANCEE, CORPORATE SOCIAL RESPONSIBILITY TERHADAP NILAI PERUSAHAAN MANUFAKTUR SUB SEKTOR MAKANAN DAN MINUMAN DI BURSA EFEK INDONESIA

This study aims to examine the effect of leverage, good corporate governance, corporate social responsibility on the value of manufacturing companies in the food and beverage sub-sector listed on the Indonesia Stock Exchange. This research is a type of explanatory research with a quantitative approach. The data used is secondary data in the form of annual reports reported in 2017-2021. The population of this study are food and beverage sub-sector manufacturing companies listed on the Indonesia Stock Exchange for the period 2017-2021, samples that meet the criteria amounted to 2 sample companies. The results showed that partial leverage has a significant effect on firm value. Good corporate governance partially has a significant effect on firm value. While corporate social responsibility partially has no significant effect on firm value. Based on the results of simultaneous test statistical calculations, it can be concluded that leverage, good corporate governance, corporate social responsibility simultaneously affect firm value.

ACCOUNTING CONSERVATISM: THE EFFECT OF FIRM PERFORMANCE, POSITIVE ACCOUNTING THEORY, AND LITIGATION RISK

The purpose of this study was to analyze the effect of firm performance, positive accounting theory proxied by bonus plan, debt covenant, and political cost, and litigation risk on accounting conservatism. The data used in this study is the annual report of food beverage subsector companies listed on Indonesia Stock Exchange in 2014-2019. The sampling technique being applied in this study is purposive sampling, with multiple linear regression. This results showed that firm performance and bonus plan have negative effect on accounting conservatism, while debt covenant, political cost, and litigation risk have no significant effect on accounting conservatism.Keywords: Accounting Conservatism, Firm Performance, Positive Accounting Theory, Litigation Risk.

PENGARUH CURRENT RATIO (CR), DEBT TO EQUITY RATIO (DER) DAN INVENTORY TURNOVER (ITO) TERHADAP NET PROFIT MARGIN (NPM) PADA PERUSAHAAN MAKANAN DAN MINUMAN YANG TERDAFTAR DI BEI PERIODE TAHUN 2018-2022

This research purposes to determine the effect of the current ratio, debt to equity ratio and inventory turnover on net profit margins in food and beverage subsector industrial companies listed on the Indonesia Stock Exchange for the 2018-2022 period as many as 10 (ten) companies. This research method uses quantitative with data collection methods using purposive sampling. Disclosure of financial performance, management is expected to improve company performance. The results of this study obtained the results that (1) the significance value of the current ratio is 0.525 greater than 0.05 (0.525 0.05) so that it can be concluded that the current ratio has no effect on the net profit margin; (2) the significance value of the debt to equity ratio is 0.255 greater than 0.05 (0.255 0.05) so it can be concluded that the debt to equity ratio has no effect on the net profit margin; (3) the inventory turnover significant value is 0.677 greater than 0.05 (0.677 0.05) so it can be concluded that inventory turnover has no effect on the net profit margin; (4) Together the significance value of the current ratio is 0.073, the significance value of the debt to equity ratio is 0.050 and the significance value of inventory turnover is 0.346, where the values of the three variables namely the current ratio and inventory turnover have values above 0.05 (0.073 0.05 and 0.346 0.05), while the debt to equity ratio has a value equal to 0.05 so it can be concluded that together the current ratio, debt to equity, and inventory turnover has no effect on the net profit margin.Keywords: current ratio (cr); debt to equity ratio (der); inventory turnover (ito); and net profit margin

PENGARUH PROFITABILITAS DAN LIKUIDITAS TERHADAP HARGA SAHAM DENGAN STRUKTUR MODAL SEBAGAI VARIABEL INTERVENING

The stock price is a very important factor and must be considered by investors in investing because the stock price shows the performance of the issuer. The movement of stock prices is in line with the performance of the issuer, if the issuer has better performance, the profits obtained and generated from business operations will be greater. The purpose of this study was to examine the effect of profitability and liquidity on stock prices with capital structure as an intervening variable. The population of this study is the food and beverage sub-sector companies listed on the Indonesia Stock Exchange (IDX) for the 2018-2020 period. The sample used was determined by purposive sampling method, and obtained a sample of 15 companies. The model analysis technique used is path analysis. The results of this study indicate that profitability and liquidity have a negative effect on capital structure. The second result that profitability has a positive effect on stock prices and liquidity has a negative effect on stock prices, and capital structure is not able to mediate profitability and liquidity on stock prices

The Effect of Specific Macroeconomic and Internal Company Variables on the Capital Structure of Manufacturing Listed Companies in the Indonesia Stock Exchange

External and internal factors can affect a company's capital structure. Managers cannot limit the macroeconomic component of external factors, while a company can monitor internal factors and their effects. This study aims to determine the effect of specific macroeconomic variables, namely, Interest Rates, Inflation Rates, GDP, and company internal variables, namely, Return on Assets (ROA), Tangible Assets (TAN), and Firm Size (SIZE) on Capital Structure (DER) of food and beverage sub-sector manufacturing companies in the Indonesia Stock Exchange. This research is associative research, and the data type used is quantitative. The data is obtained from the company's financial statements audited on the Indonesia Stock Exchange during the study period. The analytical method used is descriptive analysis and panel data regression. The population of this study is the food and beverage sub-sector manufacturing companies for the period 2017-2021, totaling 62 companies. The sample in this study amounted to 27 companies. The results of this study indicate that simultaneously, Interest Rates, Inflation Rates, GDP, ROA, TAN, and SIZE have a significant effect on DER in food and beverage sub-sector manufacturing companies on the Indonesia Stock Exchange in the 2017-2021 period. Partially, the Interest Rate and TAN variables have a positive and insignificant effect on DER. The inflation rate variable positively and significantly affects DER at = 0.1. The SIZE variable has a positive and significant effect on DER. The GDP variable has a negative and insignificant effect on DER. In contrast, the ROA variable positively and significantly affects DER at = 0.1 in food and beverage sub-sector manufacturing companies on the Indonesia Stock Exchange.

PENGARUH PROFITABILITAS, LEVERAGE, DAN LIKUIDITAS TERHADAP NILAI PERUSAHAAN DENGAN KUALITAS AUDIT SEBAGAI PEMODERASI

Firm value is an important aspect to describe the success of company owners and shareholders which is often associated with stock prices which are often used as a tool to influence investors' views of a company. This study aims to determine the effect of financial performance such as the level of profitability, leverage, and liquidity on firm value and how the effect of audit quality in moderating the effect of financial performance on firm value in food and beverage sub-sector companies listed on the IDX in 2018 – 2021. The object of this study is 27 food and beverage sub-sector companies listed on the IDX in 2018 – 2021 so that 108 observational data were obtained. This research shows that it is proven that profitability has a positive influence on company value and audit quality is able to strengthen the positive influence of profitability on firm value. While leverage and liquidity have not been shown to have a positive effect on the value of the company. Quality audits are also unable to moderate the positive effect of leverage and liquidity on firm value.

DETERMINAN FAKTOR FINANSIAL DAN NON FINANSIAL DALAM PENERAPAN KONSERVATISME AKUNTANSI PADA PERUSAHAAN SUB SEKTOR MAKANAN DAN MINUMAN

The financial report represents of company's financial status, and its preparation necessitates the application of accounting conservatism principles. However, the utilization of this principles remains limited in Indonesia. There is assumption that it is because financial factors (financial stress, capital intensity, and profitability) and non-financial factors (institutional ownership and managerial ownership). This research aims to examine the influence of financial factors and non-financial factors on accounting conservatism within the food and beverage sub-sector companies. The research employs a quantitative approach, population of companies within the food and beverage sub-sector, with a sample of 26 companies selected using purposive sampling technique.
 Based on the research findings, the regression analysis equation for panel data is derived as: KA = 0.055968 + 0.004050 FS + 0.047040 CI – 0.534471 PR – 0.096629 IO + 5.452554 + e. The Fixed Effect Model (FEM) is chosen. During the testing of classical assumptions, it is found that the regression model has a normal distribution, no multicollinearity, displays homogeneity, and no signs of autocorrelation. Result from this study concluded that financial stress, capital intensity, institutional ownership, and managerial ownership do not significantly affect accounting conservatism. But, profitability has a significant negative impact on accounting conservatism.