Capital Turnover Ratio Research Articles

The Impact of Financial Ratios on the Dividend Payout Ratio in Coal Mining Companies

The purpose of this study is to determine the impacts of current ratio, debt to equity ratio, return on asset, total asset turnover ratio, and working capital turnover ratio on the dividend payout ratio in coal mining companies listed in Indonesia Stock Exchange 2016-2018. The sample used in this study was determined based on a purposive sampling method. The type of data used in this study is secondary data and the technique used to analyze the data in this study is panel data regression analysis.
 The results show that the debt to equity ratio has a negative and significant effect on the dividend payout ratio. While, current ratio, return on asset, total asset turnover ratio, and working capital turnover ratio have no significant effect on the dividend payout ratio.

An Analysis of Selected Benchmarks and Evaluation Methods to Test the Replacebility of Mathematical- Statistical Methods in Benchmarking by Solvency and Bankruptcy Models: A Case Study in Assessing Gravel-Sand Mining Companies in the Czech Republic

Benchmarking is a useful managerial tool to identify opportunities in order to improve the efficiency and effectiveness of a companyvia the application of benchmarks to assess and compare the company efficiency with the leader in the field or other selected companies.For this reason, it is vital to conveniently select the different benchmarks and adequate methods for the evaluation. Havingbenchmarked five selected mining companies exploiting gravel-sand in the Czech Republic, CEMEX Sand, k.s., Českomoravskýštěrk, a. s., LB MINERALS, s.r.o., CEMEX Cement, s.r.o., and ZEPIKO, spol. s r.o., the article aims to consider mutual replacebilityof mathematical-statistical methods used for evaluation in benchmarking. Next, it verifies the agreement in results rendered bythe solvency and bankruptcy models and those rendered by mathematical-statistical methods. We used eleven benchmarks (EBITDA,ROA, ROS, WACC, Quick ratio, Total assets turnover, Net working capital turnover ratio, Interest coverage, Altman’s model,Index IN05, and Taffler’s model), and seven evaluation methods. The research study shows that the majority of the examinedbenchmarking methods may be mutually replaced. Based on the results, we determined two groups of methods, out of which onemethod may be chosen and mutually combined with a method from the other group, and vice versa. The first group contains theRank ordering weighting method, Point allocation method, Standardised variable method, Method of the distance from a fictitiousobject, Weighted sum method and TOPSIS method. The second group contains Weighted average method. The research also provesthat selected benchmarks, such as Altman’s model and Taffler’s model, may be used on their own.

Penilaian Struktur Modal Dan Pengelolaan Modal Kerja

The purpose of this study is to determine the assessment of capital structure and working capital management at the Mukti Singaraja Savings and Loan Cooperative. The data collection techniques used in this study used documentation techniques, namely financial statement data from 2014-2019. The data analysis technique used in this research is descriptive technique by calculating financial ratios first which is followed up with the analysis. The results of this study explain that the working capital turnover ratio has been very productive from year to year because the ratio is always above 100%. The cash turnover ratio is very efficient because the value of this ratio is above 100% even though the dominant cash turnover ratio value has decreased. The management of accounts receivable ratio which is assessed from the turnover of accounts receivable is very efficient because the value of accounts receivable turnover is always above the standard even though the dominant accounts receivable turnover ratio has decreased. The results of this study explain that the capital structure ratio based on assessment standards (Regulation of the Minister of Cooperatives and SMEs of the Republic of Indonesia No. 06 / Per / M.KUKM / V / 2006) is classified as bad. It can be seen that the DAR ratio value from year to year is always above the standard (> 80%), but it is always followed by an increase in the achievement of SHU. The assessment of the DER ratio is not good because the value of the DER ratio is always above the standard (> 200%) but this condition is always followed by an increase in the achievement of SHU

Working Capital Management and Its Impact on Profitability in Tyre Industry: A Study of Selected Companies

Purpose: The main aim of this article is to find out the working capital management and its impact on profitability in Tyre Industry of selected companies which are listed on stock exchange in India. Approach/ Methodology/ Design: For the study, a time span of 8 years from 2011-12 to 2018-19 is considered, and based on it, any relation of net profit margin ratio and working capital components like current ratio, quick ratio, inventory turnover ratio, working capital turnover ratio is considered. The sample is selected based on higher market capitalisation during the study period. Regression analysis is also employed to investigate the impact of WCM on corporate profitability. Findings: The major findings of this study indicate that the profitability of Balkrishana was good compared to the other companies. The working capital of Ceat shows highly positive working capital management, whereas Apollo shows negative working capital management. These results were identified with the help of accounting tool as Ratio analysis and statistical tools as Regression analysis and ANOVA test for selected data. Practical Implication: The study examines the scenario of tyre industry with the help of working capital management in selected companies. The results of the study could be an indicator of the performance of the selected companies. Originality/Value: This paper provides some key insights to health and efficiency of the selected companies. The working capital ratios are indicative of good working capital management, leading to identifying issue in financial management and eventually improving the performance of the tyre industry.

FINANCIAL PERFORMANCE FOR LOCAL COMPANIES : POLITICAL EVENT STUDY IN SURABAYA

The purpose of this research is to determine the differences of financial performance and market performance before, as at, and after direct election for local government executive. This research picks 28 Surabaya based listed companies as samples based on purposive sampling method with several criteria during local government election. Method of hypothesis testing uses multivariate analysis of variance (manova) and Kruskal Wallis test with three groups of periods, which are before, as at, and after the direct election for local government executive. The results show that there is no significant financial performance of local based company in Surabaya caused by direct local government election measured by current ratio, working capital turnover ratio, debt to asset and return to asset ratio. The market performance test shows that the there is significant difference of company’s abnormal return before, as at, and after the direct election for local government executive. Furthermore, the abnormal return after the direct election for local government executive was significant higher than as at the election year.

ANALISIS RASIO KEUANGAN UNTUK MENILAI KINERJA KEUANGAN PT INDOCEMENT TUNGGAL PRAKARSA Tbk. PERIODE TAHUN 2014-2018

The purpose of this study is to assess the financial performance of PT Indocement Tunggal Prakarsa Tbk in the period 2014 to 2018. The success of a company in achieving its goals and meeting the needs of the community is very dependent on company performance. One way to measure or evaluate performance is to analyze financial statements.This study uses a descriptive research method with a quantituve approach that is analysus based on data calculations. The data used in this study are secondary data in the form of financial statements for the period 2014 to 2018, using the calculation of liquidity ratios, solvency, activity, and profitability.The result of this study indicate that PT Indocement Tunggal Prakarsa Tbk is in a liquid state when viewed from the liquidity ratio because the current ratio and quick ratio are above the industry standard. Judging from the solvency ratio, the financial performance of PT Indocement Tunggal Prakarsa Tbk can be said to be solvable because in terms of the debt to equity ratio, and the debt to asset ratio is below the industry standard. But the financial performance of PT Indocement Tunggal Prakarsa Tbk when viewed from the activity ratio (receivable turnover ratio, inventory turnover ratio, working capital turnover ratio, fixed assets turnover ratio, and total asset turnover ratio) and profitability ratio (net profit margin, return on investment, and return on equity) is not optimal because the company’s profit continue to fall and ineffectiveness of the company in utilizing its assets.

ANALISIS RASIO KEUANGAN UNTUK MENILAI KINERJA KEUANGAN PT INDOCEMENT TUNGGAL PRAKARSA Tbk. PERIODE TAHUN 2014-2018

The purpose of this study is to assess the financial performance of PT Indocement Tunggal Prakarsa Tbk in the period 2014 to 2018. The success of a company in achieving its goals and meeting the needs of the community is very dependent on company performance. One way to measure or evaluate performance is to analyze financial statements.This study uses a descriptive research method with a quantituve approach that is analysus based on data calculations. The data used in this study are secondary data in the form of financial statements for the period 2014 to 2018, using the calculation of liquidity ratios, solvency, activity, and profitability.The result of this study indicate that PT Indocement Tunggal Prakarsa Tbk is in a liquid state when viewed from the liquidity ratio because the current ratio and quick ratio are above the industry standard. Judging from the solvency ratio, the financial performance of PT Indocement Tunggal Prakarsa Tbk can be said to be solvable because in terms of the debt to equity ratio, and the debt to asset ratio is below the industry standard. But the financial performance of PT Indocement Tunggal Prakarsa Tbk when viewed from the activity ratio (receivable turnover ratio, inventory turnover ratio, working capital turnover ratio, fixed assets turnover ratio, and total asset turnover ratio) and profitability ratio (net profit margin, return on investment, and return on equity) is not optimal because the company’s profit continue to fall and ineffectiveness of the company in utilizing its assets.

ESTIMATING AND FORECASTING OF FINANCIAL SECURITY OF ENTERPRISES

The methodical approach to estimate financial security of business entities, which are related with management system of Defense Ministry in Ukraine, has been proposed in the research. Its difference feature from existing is: calculation integral financial indicators (property status, liquidity, financial independence, business activity and profitability); definition the levels of their significance and normative values.
 Approbation the proposed methodical approach has been confirmed its versatility and made it possible to determine financial security level, strengths and weaknesses of economic activity. Also it has been allowed to improve process for making management decisions, which are related with upgrading equipment, raising liquidity, financial independence, increasing business activity and profitability.
 The methodological approach for forecasting financial security has been developed. It has been differs from the existing by determining as resulting indicator — profitability own capital ratio and factor indicators — maneuverability ratio of equity capital, asset turnover ratio, accounts payable turnover ratio, equity capital turnover ratio, profitability ratio.

Analysis of The Effectiveness and Efficiency of Working Capital on LPD in Dalung Village

The purpose of this study was to determine the effectiveness of working capital use in terms of cash turnover ratios and receivable turnover ratios and to determine the efficiency of working capital use in the LPD Dalung Village. The analysis technique used in this study is quantitative and qualitative analysis. Based on the results of the analysis conducted shows the effectiveness of working capital use when viewed from the ratio of cash turnover, which in 2015 was considered less effective, in 2016 was considered quite effective, in 2017 was considered very effective, and in 2018-2019 it was considered quite effective. Meanwhile, if seen from the receivable turnover ratio, where in 2015 was considered very effective, in 2016, 2017, 2018 was considered quite effective, and in 2019 it was considered less effective. The efficiency of using working capital from 2015-2019 when viewed from the working capital turnover ratio, where in 2015 was considered very efficient, in 2016, 2017, 2018 and 2019 it was considered quite efficient. Whereas if seen from the profit ratio, which in 2015 was considered very efficient, in 2016, 2017 and 2018 it was considered quite efficient, and in 2019 it was considered less efficient.

PENGARUH AKTIVITAS, LIKUIDITAS DAN SOLVABILITAS TERHADAP PROFITABILITAS PADA PERUSAHAAN MAKANAN DAN MINUMAN DI BEI 2014-2018

The purpose of this study was to determine the effect of activity, liquidity and solvency on profitability in food and beverage companies listed on the Indonesia Stock Exchange in 2014-2018. The sample used is 60 annual financial report data selected based on a targeted sample using a purposive sample. This type of research is quantitative research. The data analysis technique used multiple linear regression with the help by means of SPSS test equipment. Measurement of research variables using working capital turnover ratio, quick ratio, debt to equity ratio and return on asset. The results showed that activity and liquidity partially affected profitability, while solvency did not affect profitability.
 Keywords: Activity;Liquidity;Profitability;Solvency

A Study on Working Capital Management at EID Parry

The working capital management has an important role for the firm’s success or failure because of its effect on firm’s performance and liquidity. A well designed and implemented working capital management is expected to contribute positively to the creation of a firm’s value. “Working Capital” is the capital invested in different items of current assets needed for the business, viz, inventory, debtors, cash and other current assets such as loans & advances to third parties. Those current assets are essential for smooth business operations and proper utilization of fixed assets. The study is descriptive in nature. The secondary data is used for this study and four years balance sheet. The Working Capital Turnover Ratio, Current Asset Turnover Ratio, Probability Ratio. It was concluded that the working capital is a vital role of an organization

ANALISIS EFISIENSI MODAL KERJA PADA KOPERASI PEGAWAI REPUBLIK INDONESIA (KPRI) BETIK GAWI DINAS PENDIDIKAN KOTA BANDAR LAMPUNG

The purpose of this study is to determine working capital which is a supporting factor in cooperative activities. In achieving its objectives, it is not only limited to efforts to obtain funds but also the use of funds that must be economically viable so as to achieve maximum efficiency. The analysis used in this study is the performance of the working capital turnover of cooperatives. The results of this study are reviewed from the working capital turnover ratio of cooperatives, working capital turnover ratios in service transactions and working capital turnover ratios on business transactions for employees of the Republic of Indonesia (KPRI) betik gawi city education. Department of Cooperative Bandar Lampung shows the average ineffective conditions and efficient in valuation compared to the previous year.Keywords: working capital, cooperatives, working capital efficiency

Regression analysis of the impact of internal factors on return on assets: A case of meat processing enterprises in Serbia

The aim of this paper is to identify and measure the impact of internal factors on the business success of meat processing enterprises expressed through profitability. Panel analysis was constructed for the sample which includes 24 enterprises in Serbia at the period from 2007 to 2016. The accounting rate of Return on assets (ROA), as a measure of productivity, was in function of the dependent variable, while the size of the enterprise, age, debt ratio, quick ratio, inventory, sale growth and capital turnover ratio were found as independent variables. A regression model was constructed and indicated that most variables had a statistically significant influence on the dependent variable. This kind of results are very important for potential investors. They can help them to better understand impact of internal factors on profitability and make better decisions about investment in this sector.

PENGARUH MANAJEMEN MODAL KERJA DAN STRUKTUR MODAL TERHADAP KINERJA KEUANGAN

This research aims to analyze the effect of receivable turnover, working capital turnover, inventory turnover and debt-equity ratio on financial performance subsector food and beverage companies listed in the Indonesia Stock Exchange period 2014-2018. The research method is a multiple linear regression analysis and analysis method with panel data. The sample is taken by using purposive sampling method, there are 17 companies that meet the criteria. The result of the analysis indicates that working capital turnover has a significant effect the financial performance. Receivable turnover, inventory turnover and debt-equity ratio has no significant effect on financial performance. And simultaneously overall receivable turnover, working capital turnover, inventory turnover, and debt-equity ratio have a significant effect on financial performance.

Analisis Rasio Modal Kerja Pada PT. Bank BNI Tbk

This research aims to analyze and find out how working capital adequacy ratio. This research was conducted at the PT. Bank BNI Tbk. The methods used in this research is descriptive quantitative and analytical tools used are Working capital adequacy Ratio which consists of three types of ratios i.e. ratio of Total Assets to capital The work is clean, current liabilities against the Net working capital and working capital Turnover. The data used are secondary data from the financial statements of PT Bank BNI Tbk. Results of the study explained that the calculation of the ratio of Total Assets Against Net working capital in the year 2015 to 2017. And the results of calculation of the ratio of current liabilities against the Net working capital in the year 2015 to 2017. And the results of the calculation of working capital Turnover Ratio by the year 2015 to 2017 is also quite good. The results of the analysis of the work on capital adequacy ratio of the company will give an overview of how companies can manage the capital works. We suggest PT Bank BNI Tbk. can use working capital optimally. So the company could cover the liabilities are short-term and the company was able to produce profits every year.

NET İŞLETME SERMAYESİNİN LİKİDİTEYE ETKİSİ: BIST 30 ŞİRKETLERİNDE BİR UYGULAMA

Companies are required to have sufficient liquidity to maintain their daily activities. Therefore, the relationship between working capital and liquidity needs to be examined. In this study, the effect of net working capital efficiency on liquidity is investigated. In the application, 2014-2018 period financial statements data of the companies in the BIST 30 index were used. In the model, a panel data analysis was performed with the variables that define the net working capital turnover ratio, current ratio, acid test ratio, cash ratio, net working capital, revenues and net working capital direction ( positively or negatively). There is no significant relationship between current ratio and acid test ratio and net working capital turnover ratio. Net working capital turnover rate, net working capital and net working capital are negatively in the direction of the variables expressing the direction; It has been determined that it affects the cash ratio and revenues variables positively.

Analisis Sumber Dan Penggunaan Modal Kerja Pada PT. Blue Bird Tbk

The purpose of this study was to determine how the implementation of the analysis of sources and uses of working capital at PT. Blue Bird Tbk. The method used is descriptive method using a quantitative approach to the analysis of financial statements. Data and data source is the annual report data from PT. Blue Bird Tbk. The results showed that: (1) Their role of the sources and uses of working capital as a whole, showing the level of effectiveness and efficiency is maintained so the security of the banking financial turnaround can work well and do not affect workers at the PT. Blue Bird Tbk, (2) development of the use of working capital PT. Blue Bird Tbk from years 2016-2017 corresponding financial statement analysis had experienced an increase in which the total assets to net working capital ratio shows the change of + 8,8% ; Current Liabilities to net working capital ratio shows changes + 1% and working capital turnover ratio shows the change of + 6,9%. Observing the development of resources and the use of working capital at PT. Blue Bird Tbk. Shows the rate of change increased (+), then it is suggested, that the company’s ,management constantly review, evaluate and assess reports of capital sources and uses of working capital so that it can ensure the performance of company’s service increasingly better in the future.

Implementation of Fuzzy Tsukamoto Algorithm in Determining the Level of Financial Distress in Microfinance Institutions

Fuzzy Tsukamoto is one method that is very flexible and tolerant of existing data. Fuzzy Tsukamoto has the advantage of being more intuitive, accepted by many, more suitable for the input received from humans rather than machines. Microfinance institutions are specialized financial institutions established to provide business development services and community empowerment, either through loans or financing in micro-scale businesses to members and the community, deposit management, and the provision of business development consulting services that are not solely for profit. The purpose of this study is to apply the fuzzy Tsukamoto method to determine the level of financial distress in microfinance institutions in the city of Medan based on the variables Liquidity Ratio, Age Firm, and Cumulative Profitability Ratio, Profitability Ratio, Financial Structure Ratio, Capital Turnover Ratio.

A study on working capital management through ratio analysis

Working capital is nerve system of any business. Without proper working, capital management firm cannot achieve its objectives and not possible to maintain financial soundness. So in this perspective, this study was undertaken to study working capital management practices of agro-processing and trading firm. Ten years (2006-07 to 2015-16) secondary data related to current assets, current liabilities, liquid assets, debtors etc.was collected directly from the company’s annual reports. Ratio analysis, Karl Pearson’s correlation and regression analysis were used to analyze the collected data. From the study, it is found that the liquidity position is not sound and it is difficult for the firm to meet its current obligations in time as and when they are due. However, working capital turnover shows fluctuating but increasing trend over a period of time which indicates that efficiency of working capital management is improving. Inventory turnover and working capital turnover is positively correlated with return on assets. The working capital turnover ratio is positively and debtors’ turnover ratio is negative correlates with a net profit margin.

Pengaruh Rasio Keuangan Terhadap Fraudulent Financial Reporting: Survei Perusahaan Barang Konsumsi Yang Terdaftar di Bursa Efek Indonesia Tahun 2014-2016

<em>The main aim of this study is to </em>analyse<em> the financial ratio (i.e. financial leverage, profitability, asset composition, liquidity and capital turnover ratio) in detecting fraudulent financial reporting (FFR). The logit model was used to identify firms that are related to FFR. The sample firms that engage in fraudulent reporting were obtained from consumer goods companies survey listed on The Indonesian Stock Exchange. The data cover a period of three years from 2014 to 2016. The results suggest that financial leverage proxied by total debt to total equity was not significant while leverage proxied by total debt to total asset was significant. Asset composition and liquidity were not significant to FFR while profitability and capital turnover were significant predictors of FFR.</em>