Capital Expenditure Ratio Research Articles

Analisis Laporan Arus Kas dalam Menilai Kinerja Keuangan di Badan Penyelenggara Jaminan Sosial Kesehatan

The background of this research is the cash flow at BPJS Kesehatan has decreased every year due to the company’s expenses exceeding the income earned. This study aims to determine the financial performance of BPJS Kesehatan for the 2017-2021 period by using cash flow liquidity and cash flow flexibility ratios. The object of this research is the BPJS Kesehatan financial report for the 2017-2021 period which includes balance sheet, income statement and cash flow statement. The type of this research used is quantitative research with a descriptive approach. The type of data is secondary data. The results of this study are the cash flow liquidity ratio based on the operating cash flow ratio and the capital expenditure ratio in 2017 is good because it is above standard 1, but in 2018-2021 it shows a poor ratio because it is below standard 1, then the total debt ratio from 2017-2021 shows a poor ratio because it is still below standard 1. Based on the cash flow flexibility ratio, namely the cash flow adequacy ratio and the net free cash flow ratio of 2017-2021 shows a ratio below standard 1 which means BPJS Kesehatan financial performance is not good.

Analisis Desentralisasi Fiskal Terhadap Pertumbuhan Ekonomi di Sumtera Utara

The purpose of this study was to find out and analyze: (1) To what extent does thedegree of fiscal decentralization influence economic growth in North Sumatra,(2) To what extent does transfer dependency influence economic growth in NorthSumatra, (3) To what extent does the capital expenditure ratio influenceeconomic growth in North Sumatra, (4) How far is the degree of fiscaldecentralization, transfer dependence, and the ratio of capital expenditure toeconomic growth in North Sumatra. The data used is panel secondary data for33 regencies/cities in North Sumatra from 2014-2019, data obtained frominstitutions related to the research variables which are grouped into two parts,namely the dependent variable which in this study uses economic growth and theindependent variables which consist of degree of fiscal decentralization, transferdependency, and capital expenditure ratio. This study uses panel data regressionanalysis using the fixed effect model (FEM). The results of this study indicate thatsimultaneously, fiscal decentralization has a significant effect on economicgrowth in North Sumatra. while partially (1) The degree of fiscal decentralizationhas a negative and significant effect on economic growth (2) transfer dependencehas a positive and insignificant effect on economic growth (3) the ratio of capitalexpenditure has a positive and insignificant effect on economic growth in NorthSumatra.

Analisis Rasio Arus Kas Untuk Mengukur Kinerja Keuangan Pada Pt Indofood Sukses Makmur Tbk. Periode 2018-2020


 
 
 
 The purpose of this study was to determine and analyze the financial performance as measured by the cash flow ratio at PT. Indofood Sukses Makmur Tbk. 2018-2020 period. This study uses the following cash flow ratio analysis methods: operating cash flow ratio (AKO), fund flow coverage ratio (CAD), cash to interest coverage ratio (CKB), cash to current debt coverage ratio (CKHL), capital expenditure ratio ( PM), total debt ratio (TH). The type of data used in this research is quantitative data. Sources of data used in this study is secondary data. In the form of a Financial Statement consisting of a Balance Sheet, Income Statement and Cash Flow Statement at PT. Indofood Sukses Makmur Tbk period 2018-2020. The data collection technique used in this study to obtain the data and information needed is a documentation study, namely through the website of the Indonesia Stock Exchange (www.idx.co.id). The author uses quantitative analysis techniques, namely calculating and analyzing the relevant results from the financial statements, using the cash flow statement ratio. The results of the study note that the financial performance of PT. Indofood Sukses Makmur Tbk for the 2018-2020 period shows that there are three cash flow ratios whose values ​​are still below the applicable standard criteria because the company has not been able to meet current obligations and long-term debt on time but the company can cover interest costs, capital expenditures, and is able to pay taxes. of the cash flow generated by the company.
 
 
 

Analisis Rasio Arus Kas untuk Mengukur Kinerja Keuangan pada PT Indofood Sukses Makmur TBK. Periode 2018-2020

The purpose of this study was to determine and analyze the financial performance as measured by the cash flow ratio at PT. Indofood Sukses Makmur Tbk. 2018-2020 period. This study uses the following cash flow ratio analysis methods: operating cash flow ratio (AKO), fund flow coverage ratio (CAD), cash to interest coverage ratio (CKB), cash to current debt coverage ratio (CKHL), capital expenditure ratio ( PM), total debt ratio (TH). The type of data used in this research is quantitative data. Sources of data used in this study is secondary data. In the form of a Financial Statement consisting of a Balance Sheet, Income Statement and Cash Flow Statement at PT. Indofood Sukses Makmur Tbk period 2018-2020. The data collection technique used in this study to obtain the data and information needed is a documentation study, namely through the website of the Indonesia Stock Exchange (www.idx.co.id). The author uses quantitative analysis techniques, namely calculating and analyzing the relevant results from the financial statements, using the cash flow statement ratio. The results of the study note that the financial performance of PT. Indofood Sukses Makmur Tbk for the 2018-2020 period shows that there are three cash flow ratios whose values ​​are still below the applicable standard criteria because the company has not been able to meet current obligations and long-term debt on time but the company can cover interest costs, capital expenditures, and is able to pay taxes. of the cash flow generated by the company.

Earnings Management: An Analysis of Corporate Strategy, Financial Performance, and Audit Quality

This study aims to examine the effect of corporate strategy on earnings management with financial performance and audit quality as moderating variables. This study adopts the concept proposed by Miles and Snow in determining company strategy. The proxies for business strategy are the number of employees to total sales (EMPSAL), the capital expenditure ratio to total assets (CAPTA), and the dividend payout ratio (DPR). Financial performance is proxied by return on assets (ROA), auditor size measures audit quality, and discretionary accruals measure earnings management. The sample was determined using a purposive sampling method, and a sample of 16 companies was obtained with 80 observations. Companies grouped by prospector and defender strategies were analyzed using cluster analysis. Data analysis was carried out using moderated regression analysis (MRA). The results shows that a company's strategy affects earnings management, and that firm performance and auditor quality can moderate the relationship between corporate strategy and earnings management.

Analisis Laporan Arus Kas Dalam Menilai Kinerja Pada PT Sariguna Primatirta Tbk (Cleo)

This study for determining the impact of covid-19 pandemic on the performance of PT Sariguna Primatirta. The method used was descriptive method with the aim for describing the performance of financial statements of PT Sariguna Primatirta. The data was collected through secondary data in the form of Company Financial Statement Information from three periods starting from 2018 to 2020. Data collection's techniques used documentation techniques on the balance sheet and income statement of the company. The analysis method used was descriptive data analysis with financial ratio formulation and then delivered back with more informative and easy to understand. The analysis's results said that the company's financial statements showed that PT Sariguna Primatirta's financial performance experienced a less stable performance. Looking through the results of operating cash flows to current liabilities that do not show a significant increase. In 2019 showed the lowest ratio results compared to other years, except for the capital expenditure ratio showed the maximum results.

Evaluasi Pengukuran Kinerja Keuangan Pada PT Indofood Sukses Makmur Menggunakan Rasio Arus Kas

The purpose of this study was to analyze the financial performance as measured by the cash flow ratio at PT. Indofood Sukses Makmur Tbk. 2018-2020 period. This study uses the following cash flow ratio analysis methods: operating cash flow ratio (AKO), fund flow coverage ratio (CAD), cash to interest coverage ratio (CKB), cash to current debt coverage ratio (CKHL), capital expenditure ratio (PM), the ratio of total debt (TH). The type of data used in this research is quantitative data. Sources of data used are secondary data, namely the Statement of Financial Position, Income Statement and Cash Flow Statement at PT. Indofood Sukses Makmur Tbk period 2018-2020. The data collection technique is a documentation study, namely through the page on the Indonesia Stock Exchange. The results of the study note that the financial performance of PT. Indofood Sukses Makmur Tbk for the 2018-2020 period shows that there are three cash flow ratios whose values ​​are still below the applicable standard criteria because the company has not been able to meet current obligations and long-term debt on time but the company can cover interest costs, capital expenditures, and is able to pay taxes. of the cash flow generated by the company.

ANALYSIS OF CASH FLOW STATEMENT TO ASSESS THE COMPANY'S FINANCIAL PERFORMANCE AT PT ASTRA INTERNATIONAL TBK.

Companies must keep track of their financial health and performance in order to meet their objectives. Financial statements are used to examine a company's financial performance. Analyzing cash flow figures can be used to evaluate a company's financial performance. This is a descriptive study that employs quantitative approaches. The data used is secondary data from PT Astra International Tbk's annual report in the form of cash flow reports. Cash flow ratio analysis was utilized as an analytical approach. The operating cash flow ratio, capital expenditure ratio, cash coverage ratio to current liabilities, cash coverage ratio to net income, and total debt ratio were all considered in this study. The findings of the cash flow ratio calculation indicate that PT Astra International Tbk. has a poor financial performance.

Oil-growth nexus in Nigeria: An ADL-MIDAS approach

In this study, we investigate the effect of oil price on the real GDP growth of Nigeria. We contribute to the extant literature on oil price-growth nexus in three ways. First, we employ one of the recently developed Mixed Data Sampling models owing to its ability to accommodate both high and low data frequencies in the same predictive model. Second, we examine the impact of crude oil price on aggregate as well as sectoral output growth, with focus on agriculture, industry and service sectors. Third, we account for the role of macroeconomic/control variables and crude oil price asymmetry. Our results show that accounting for crude oil price asymmetry and macroeconomic determinants increases the predictability of the ADL-MIDAS model for the oil price-growth nexus. On the aggregate, we find that negative oil price changes significantly reduce economic growth while positive oil price changes do not increase economic growth significantly. The sectoral analyses show that the service and industry sectors are more affected by the negative oil price changes than the agriculture sector. Overall, we conclude that the impact of government participation in the economy remains huge and the situation whereby recurrent to capital expenditure ratio of government is about 80/20 percent dampens the growth potential of the Nigerian economy. More investment in capital infrastructure relative to recurrent expenditure is recommended, to reduce the adverse effect of negative crude oil price on economic growth in Nigeria.

Assessing Multiplier Effects of Public Expenditures on Economic Growth in Nepal: SVAR Model Analysis

This paper assesses the multiplier effects of public expenditures on economic growth in Nepal, covering time series data sets of public expenditures and economic growth from 1974-75 to 2018-19 by using the SVAR model. As a result of the SVAR model, the multiplier effect of public expenditure, recurrent expenditure, and capital expenditure is positive for economic growth. In a result, the multiplier effect of recurrent expenditure is found to be more promising than capital expenditure for economic growth in the short run, but in the long run, it is lower. Similarly, the multiplier coefficient value of capital expenditure is lower in the short run. This is probably due to leakages in the economy, corruption and improper management of development funds, seasonal expenditure trends, and poor management of development projects. Therefore, the government should improve the efficiency of public expenditure and the ratio of capital expenditure and private investment to improve the higher multiplier variable in the long run.

Analisis Laporan Arus Kas untuk Menilai Kinerja Keuangan Pada PT Indofood Sukses Makmur Tbk yang Terdaftar di Bursa Efek Indonesia Periode 2016-2020

Cash is a financial report that contains information on cash inflows and outflows from an entity during a certain period, to obtain information on receipt of cash disbursements, a cash flow statement is made. Companies must include a cash flow statement in their annual financial statements. Included in the analysis of financial performance using a cash flow statement is an analysis of the cash flow ratio. The purpose of this study was to determine the performance of the company PT Indofood as measured by using the cash flow ratio in measuring the financial performance of PT Indofood Sukses Makmur Tbk. The analytical method used is descriptive quantitative by looking at the cash flow statements and financial performance of PT Indofood Sukses Makmur Tbk. The population of financial statements at PT Indofood Sukses Makmur Tbk, sample financial statements for 2016-2020 with financial ratios, namely cash flow ratios, cash coverage ratios to interest, cash coverage ratios to current liabilities, capital expenditure ratios, total debt ratios and cash adequacy ratios Genre. From the results of the study it was concluded that the performance of PT Indofood Sukses Makmur Tbk according to the calculation of the financial cash flow ratio (AKO) with an average value of 0.38 < 1, the ratio of cash flow coverage to current liabilities (CKHL) with an average value of 0.57 < 1, Capital expenditure ratio (PM) with an average value of 0.24 < 1, total debt ratio (TH) with an average value of 0.19 < 1, cash flow adequacy ratio (KAK) with an average value of 0.012 < 1 is not good, which means that the performance of the company PT Indofood Sukses Makmur Tbk cannot manage the existing cash flow to be able to generate cash flow properly in order to meet its short-term obligations and current liabilities. The cash to interest coverage ratio (CKB) with an average value of 17,595 > 1 is good, which means very good because the cash can cover the interest costs of PT Indofood Sukses Makmur Tbk and can pay it directly without having to sell assets.

Analisis Laporan Arus Kas untuk Menilai Kinerja Keuangan Perusahaan di Bidang Jasa pada PT. Hotel Sahid Jaya Internasional, Tbk

The tourism sector is growing rapidly at this time, one of which is in the field of hospitality, now there are many hotels in tourism areas which are quite a lot of types of hotels from star-class hotels to jasmine class, one of which is PT. Hotel Sahid Jaya International, Tbk which has received the status of a five-star hotel. The purpose of this study was to identify and analyze cash flow statements to assess financial performance at PT. Hotel Sahid Jaya International, Tbk during the period 2016 to 2020. The research method is a descriptive study with a qualitative approach. The method of analysis is cash flow statement analysis where this analysis provides information about the sources and uses of cash. The results of this study are based on cash flow ratio analysis conducted at PT. Hotel Sahid Jaya International, Tbk is still not good enough, where in the cash flow statement from 2016 to 2020 it continues to decline every year since 2017. Where only the capital expenditure ratio (PM) and the cash to interest coverage ratio (CKB) are significant. the ratio value reaches the standard

Assessing Multiplier Effects of Public Expenditures on Economic Growth in Nepal: SVAR Model Analysis

Expansionary public expenditure is a popular important fiscal measure in the constraint of budgetary resources to achieve higher economic growth with the expectation of higher multiplier effect on productive sectors in the world. Since the actual multiplier effect contradicts with the expected multiplier effect in this discretionary fiscal practice, the goal of higher economic growth is not well achieved. In this context, the practice of public expenditure is a key concern of scholars to understand whether it is the best one or whether its multiplier effect is higher. In this context, this study is an important attempt. This paper assesses the multiplier effects of public expenditures on economic growth in Nepal, covering time series data sets of public expenditures and economic growth from 1974-75 to 2018-19 by using the structural vector auto-regressive (SVAR) model. As a result of the SVAR model, the multiplier effect of public expenditure, recurrent expenditure, and capital expenditure is positive for economic growth. In the results, the multiplier effect of recurrent expenditure is found to be more promising than capital expenditure for economic growth in the short run, but in the long run, it is lower. Similarly, the multiplier coefficient value of capital expenditure is lower in the short run. This is probably due to leakages in the economy, corruption and improper management of development funds, seasonal expenditure trends, and poor management of development projects. Thus, public expenditure is an important fiscal measure to developing economy like Nepal to create a multiplier effect through aggregate demand on national income and employment. Therefore, the government should improve the efficiency of public expenditure and the ratio of capital expenditure and private investment to improve the higher multiplier variable in the long run. The result of this paper will be a valuable input to the policymaker and the planner of Nepal to improve the efficiency of public expenditure through the implementation of a mid-term expenditure framework.

The Impact of E-Procurement Implementation on Public Procurement’s Corruption Cases; Evidence from Indonesia and India

The huge spending on public procurement makes public procurement is very vulnerable to corruption. Many governments around the world have adopted Electronic Procurement (E-Procurement) to increase transparency, improve accountability, and reduce corruption with variable success. Government of Indonesia adopted E-Procurement in 2008, while Government of India introduced E-Procurement in 2012. Even though E-Procurement has been implemented for quite a long time in those two emerging countries, only limited research exist on the impact of E-Procurement in reducing procurement corruption. By using the combination between quantitative and qualitative methods, this study attempts to assess the extent to which the impact of E-Procurement implementation on procurement corruption cases in Indonesia and India. The findings suggest that Indonesian provinces with high capital expenditure ratio, are more vulnerable to corruption and implementation of E-Procurement was impactful on reducing the number of procurement corruption cases in such provinces. Meanwhile in India, the effect of E-Procurement was not impactful enough to reduce a notably large number of procurement corruption at the state governments because E-Procurement implementation at the state level in some degree was bothered by low competency and professionalization staff and also high political interference in state administrations. The study contributes to limited empirical research on the effect of E-Procurement on corruption.

ANALISIS LAPORAN REALISASI ANGGARAN TERHADAP KINERJA KEUANGAN DAERAH PEMERINTAH KABUPATEN MUSI BANYUASIN

This study aims to determine the regional financial performance of the Government of Musi Banyuasin Regency. The research method used by the author in this study is a quantitative method. The type of data used by the author in this study is secondary data in the form of budget realization report. The results of the study stated that the financial performance of the Musi Banyuasin Regency Government was quite good. However, the Government of Musi Banyuasin Regency was still not independent in managing regional finances and was dependent on the central/provincial government. This was based on the fact that the average degree of decentralization ratio of the Musi Banyuasin Regency Government was 7.50% with the criteria of not being independent, the average financial independence ratio of the Musi Banyuasin Regency Government was 8.68% with very low criteria and the pattern of instructive relations. The average local tax effectiveness ratio of the Musi Banyuasin Regency Government was 91.57% with effective criteria. The average collection efficiency ratio of the Musi Banyuasin Regency Government was 7.71% with the criteria of being very efficient and the ratio of expenditure harmony at the Musi Banyuasin Regency Government was already good because the results of the operating expenditure ratio and the results of the capital expenditure ratio from 2015 to 2019 <100%.

Progenitors of Firm’s Search Behaviour: A Country Comparison of Australia vs. India

The determinants and consequences of firm-risk are widely studied in regard to the US and other developed markets. However, little attention is paid to these issues in emerging markets or in cross-country contexts. The empirical literature is also mostly silent about the progenitors of firms’ search behaviour in an organisational risk context. To fill these research gaps, we investigate the progenitors of a firm’s search behaviour (i.e. risk-taking) in a bi-country context of Australia vs. India with 395 firms across 2003-2017. We use four distinctive risk measures - return on asset SD, capital expenditure ratio, accounting beta and R&D intensity, as dependent variables representing the overall search behaviour of firms and thirteen variables under four independent constructs. We use factor analysis to eliminate redundant variables and then multiple regressions to fulfil our research objectives. Results show that fundamental valuation, psychological, corporate governance and performance drivers all influence firms’ overall search behaviour. Specifically, firm size, market size, growth opportunities, board busyness, expectation, and operating and cash performance are the most critical sub-progenitors driving firm’s risk-taking. Our results are consistent across time, country-heterogeneity and industry contexts. Our study results would be of immense help to firm-managers, investors, policy-makers, and other stakeholders to assess a firm in the risk-return context from both emerging and developed country perspectives. Thereby, these would help these stakeholders in strategic policy decisions and portfolio rebalancing decisions objectively and in a timely manner.

PENGUKURAN KINERJA KEUANGAN BERDASARKAN LAPORAN ARUS KAS PADA KOPERASI PEGAWAI REPUBLIK INDONESIA KABUPATEN ENDE TAHUN 2017 - 2019

The purpose of this study is to examine and analyze the financial performance of cooperatives in the Ende regency of Indonesia from 2017 to 2019. This study is descriptive in nature. Documentation and interviews were utilized to obtain data. Cash flow ratio analysis was used in the data analysis, which included the following cash flow ratios: operating cash flow ratio, fund flow coverage ratio, cash to interest coverage ratio, cash coverage ratio to current liabilities, capital expenditure ratio, total debt ratio, cash flow coverage ratio, and free net cash flow ratio. The findings of this study show that the financial performance of cooperatives Pegawai Republik Indonesia, Ende Regency in the years 2017 – 2019 was generally poor because of the eight cash flow ratios used, only two of which meet the standards above one, namely cahs to interest coverage ratio and free net cash flow ratio, while the other six are below standard one, namely operating cash flow ratio, fund flow coverage ratio, cash coverage ratio to current liabilities, capital adequacy ratio, capital adequacy Cooperative management has been unable to control the flow of cards and must enhance cash inflows while decreasing cash outflows.

Efektifitas Kinerja Akuntansi Pemerintah Daerah Kabupaten Tegal

Regional Government Accounting Performance is the output/result of a program that will be or has been achieved in connection with the use of regional budgets with measurable quality and quantity, regional capabilities can be measured by assessing the efficiency of services provided to the community. This study aims to determine the Effectiveness of Government Accounting Performance in the Regional Government of Tegal Regency in 2016-2019 based on the calculation of financial ratio analysis. This study uses a descriptive research method with a qualitative approach. The data used is secondary data in the form of the Regional Government Financial Report (LKPD) of Tegal Regency 2016-2019. The results of the research conducted showed that the Government Accounting Performance in the Tegal Regency Government in 2016-2019, (1) the PAD Effectiveness Ratio was categorized as quite effective with a value of 97.07%; (2) the Expenditure Efficiency Ratio is categorized as less efficient with a value of 91.04%; (3) The Expenditure Harmony Ratio still prioritizes the operational expenditure allocation of 78.38%, which is higher than the capital expenditure ratio of 21.38%.

Operational Cash Flow Analysis of PT Waskita Beton Precast Tbk Financial Performance 2014-2018

This study aims to find the financial performance of PT Waskita Beton Precast Tbk during 2014-2018 in managing its operating cash flow. The analytical tool used in this study is ratio analysis. Types of ratio analysis used are operating cash flow ratios, the ratio of cash to interest coverage, ratio of cash to current debt ratio, ratio of capital expenditure, ratio of total debt, and the ratio of cash flow to net income. After calculating the cash flow ratio analysis, it can be concluded that for now, PT Waskita Beton Precast Tbk is still unable to be independent in capital expenditure. Despite that, PT Waskita Beton Precast Tbk has recorded a good improvement, therefore it can be estimated that in a few more years, the financial performance of PT Waskita Beton Precast Tbk will be very good.

The Relationship Between Corporate Diversification and Tax Avoidance: Empirical Evidence from the Emerging Economy of Pakistan

Tax avoidance are the strategies that firms use to avoid their tax payments and rise their after-tax income. Recently, tax avoidance increase consideration in the modern research literature. In developing countries like Pakistan, taxes are a most important element to support the country’s budget and revenues. Therefore, this study tries to find the impact of corporate diversification on tax avoidance of listed firms in Pakistan stock exchange. For sample selection study use the 22 different sectors and select 129 companies based on availability of data. The time horizon of this study is 13 years started from 2006 to 2018 on annual basis. Study uses GAAPETR (tax expense / pre-tax income) to measure the tax avoidance besides entropy-index use for corporate diversification. To identify the long-term relationship between corporate diversification and tax avoidance study apply Johnson and Julius (1990) multivariate co-integration analysis. The results of Johnson and Julius (1990) approach shows that co-integration exist between corporate diversification and tax avoidance. Besides study use firm characteristics as control variables like leverage, firm profitability, ratio of capital expenditure and market to book ratio. Finally, study has policy implication for government, policy makers, regularity bodies, tax authority’s, investors and other stakeholders in Pakistan.