Company's Annual Financial Statements Research Articles

EKSPLORASI DINAMIKA STRUKTUR MODAL PADA PT SEMEN INDONESIA (PERSER) TBK

This research explores the capital structure of PT Semen Indonesia (Persero) Tbk for the period 2019-2023, using qualitative methods and literature review studies. The research focus includes analysis of Debt to Equity Ratio (DER), Liquidity, Profitability (ROA), Total Asset Turnover, Sales Growth, Asset Structure, Net Profit Margin, Company Size, and Business Risk. The data analyzed comes from the company's annual financial statements as well as various other reliable public data sources. The research findings show that DER has decreased significantly, reflecting an increase in the company's financial stability. Although liquidity fluctuates and tends to be below industry standards, ROA is relatively stable with an average of 2.9%, while Total Asset Turnover and Net Profit Margin perform quite well despite being below industry standards. Sales Growth fluctuated significantly, while the company's Asset Structure experienced a decline. Nonetheless, Company Size stabilized with significant total assets, and Business Risk showed moderate fluctuations. This research provides important insights for company management in developing more efficient financial strategies for the future

The Role of CEO Financial Skills on Company Performance

Fast and dynamic economic growth requires companies to choose a chief executive officer (CEO) who has strong technical and managerial skills. One important ability for a company CEO to have is financial expertise. The CEO's financial capabilities can help the company manage resources more efficiently and effectively, especially during times of crisis. This research aims to determine the role of CEO financial expertise on company performance during the Covid 19 pandemic. This research is quantitative in nature using secondary data obtained from the company's annual report and financial statements. The sample for this research was 40 property and real estate companies listed on the Indonesia Stock Exchange in 2020-2022. The data analysis technique used is panel data regression analysis. The results obtained show that CEO financial expertise plays a negative and significant role in company performance. This finding explains that, during the financial crisis, the CEO's expertise was not able to improve company performance.

The The Effect of Return On Assets, Debt to Equity Ratio dan Earnings Per Share on Stock Return in the Telecommunications Sector

This study aims to examine and analyze the effect of return on assets, debt to equity ratio and earnings per share on the share price of telecommunications sector companies listed on the Indonesia Stock Exchange. This research uses secondary data, secondary data in this study is obtained from the annual financial statements of companies listed on the Indonesia Stock Exchange by accessing the www.idx.co.id website. The sample in this study was 6 companies, sampling using purposive sampling techniques. The method used in this study is quantitative descriptive method. The data analysis method in this study used panel data, namely Eviews 12. This research was conducted based on data obtained during the period 2014 to 2023. The results of this study show that partial return on assets has no effect on stock returns, partial debt to equity ratio has no effect on stock returns and partial earnings per share has no effect on stock returns. Simultaneously return on assets, debt to equity ratio and earnings per share have no effect.

Income Shifting And Tax Avoidance: Evidence In Indonesia

Purpose: This study aims to examine the effect of income shifting instruments on tax avoidance efforts. The instruments focused on transfer pricing and intangible assets, and the role of multinationality in moderating both Methodology/approach: The sample selection used a purposive sampling method with a final sample of 110 observations. With secondary data from the company's annual report and financial statements, this study uses Panel Data Regressions and Moderated Regression Analysis (MRA) with Stata 15. Findings: The results show that transfer pricing has a positive effect and intangible assets have a negative effect on tax avoidance. Also, multinationality only moderates the relationship between transfer pricing and tax avoidance. Practical implications: This study contributes to helping companies evaluate performance by always complying with tax regulations. Nowadays, there are regulations governing transfer pricing mechanisms and ownership of intangible assets and this study can be an assessment of the regulations effectiveness. Lastly, this study offers empirical evidence to support the discourse of the two pillars of the international tax architecture agreement at the G20 event, where no studies have yet attempted to provide this information. Originality/value: This study uses multinationality as a moderating variable which in previous studies was widely used as an independent variable. This study also uses Internalization theory to explain tax avoidance in cross-border transaction context, especially related to transfer pricing and intangible assets

UKURAN PERUSAHAAN MEMODERASI FAKTOR-FAKTOR YANG MEMPENGARUHI TAX AVOIDANCE

This study aims to examine the effect of capital intensity, real earnings management and political connections on tax avoidance with company size as a moderating variable. This study uses a population of property and real estate sector companies listed on the Indonesia Stock Exchange. The data in this study are secondary data obtained from the company's annual financial statements in 2020 - 2022. The sampling method uses purposive sampling technique, the population that will be used as a research sample is a population that meets certain criteria. The sample of companies that met the research criteria was 28 companies. The outlier data is 10 financial statement data. This study uses multiple linear regression analysis models and Moderated Regression Analysis (MRA) analysis with the SPSS version 25 program. The results showed that capital intensity and political connections have a negative effect on tax avoidance. While real earnings management has a positive effect on tax avoidance. Company size cannot weaken the influence of capital intensity, real earnings management and political connections on tax avoidance.

Analysis Of Determinants Of Firm Value In Property And Real Estate Companies Listed On The Bei In 2019-2022

This study aims to analyze and determine the effect of profitability as measured by return on assets, solvency as measured by debt to equity ratio to company value measured by price book value. This research uses quantitative methods with secondary data sources in the form of the company's annual financial statements. The population of this study is property and real estate companies listed on the Indonesia Stock Exchange (IDX) for the 2019-2022 period. The sampling technique used purposive sampling, and a sample of 37 companies was obtained. The data analysis technique uses multiple linear regression with the SPSS 25 program. The results showed that the return on assets and debt-to-equity ratio had no effect on the value of the company.

Pengaruh Profitsbilitas, Solvabilitas, Ukuran Perusahaan Dan Ukuran KAP Terhadap Audit Delay Pada Perusahaan Jasa Yang Terdaftar Di Bursa Efek Indonesia (Studi Empiris Pada Perusahaan Sektor Property Sub Sektor Property dan Real Estate Tahun 2015-2019)

This study aims to analyze the effect of profitability, solvency, firm size, and KAP size on audit delay in property and real estate sub-sector companies listed on the Indonesia Stock Exchange. The population in this study was all property and real estate companies listed on the IDX in 2015-2019. Then sampling using the purposive sampling method and obtained 14 companies. The data was secondary data in the form of annual financial statements of companies listed on the IDX during the 2015-2019 period. This study utilized multiple regression analysis. The results show that partially the profitability variable has an effect on audit delay, while the solvency variable, firm size, and KAP size have no effect on audit delay. Simultaneously, the variables of profitability, solvency, firm size, and KAP size affect audit delay. This research is expected to be useful for the property and real estate sectors.

EKSPLORASI FAKTOR PENENTU TINGKAT AGRESIVITAS PAJAK DALAM PERSPEKTIF TEORI KEUANGAN

The purpose of this study is to analyze the factors affecting tax aggressiveness. The research method used is the descriptive verification method. The population in this study is manufacturing companies in various industrial sectors as many as 51 companies listed on the Indonesia Stock Exchange in 2016-2020. The sample used is the annual financial statements of companies in various industrial sectors as many as 34 companies using purposive sampling techniques. The analysis technique used in this study is panel data analysis technique. Profitability has a positive and significant effect on tax aggressiveness, liquidity has a positive and significant effect on tax aggressiveness, leverage has a negative and significant effect on tax aggressiveness Keywords: Tax Aggressiveness, Leverage Ratio, Liquidity Ratio, Profitability Ratio

Financial Analysis of Information Technology Investments: “Assessing Benefits through Cost-Benefit Analysis and Ranti's Generic IS/IT Business Value Approach"

Technology drives economic growth and increases industrial competitiveness and has long been recognized for its dominance of industrial productivity. PT XYZ is a company engaged in the transportation services sector in Indonesia; from 2012 to 2017, PT XYZ carried out a massive digital transformation process by investing in information technology to improve its quality. This investment includes ERP, SAP implementation and improvement, RTS implementation and improvement, web-based information technology platforms, and mobile applications. This study aims to analyze the benefits of information technology investment made in PT XYZ using secondary data from the Company's annual financial statements accessed through the Company's website. The results of this study were conducted by analyzing financial statements from 2012 to 2020 using the Cost Benefit Analysis method and Ranti's Generic IS / IT Business Value method. Based on the Analysis, investment in information technology benefits the Company without distinguishing between tangible and intangible benefits identified in the form of 8 sub-categories in 5 categories based on Ranti's Generic IS/IT Business Value.

PENGARUH PERSISTENSI LABA, INVESTMENT OPPORTUNITY SET, DAN STRUKTUR MODAL TERHADAP KUALITAS LABA PADA PERUSAHAAN SEKTOR FOOD AND BEVEREGAE YANG TERDAFTAR DI BURSA EFEK INDONESIA

The purpose of this study is to test and analyze the effect of Earnings Persistence, Investment Opportunity Set ̧ and Capital Structure on Earnings Quality directly or through earnings quality variables. Quantitative research method, with the type of secondary data source obtained from the company's annual financial statements and sampling techniques using purposive sampling. The population in this study is food and beverage sector companies in 2019-2022 with a total population of 88 companies. The results of this study show that Earnings Persistence has no effect Earnings Quality, Investment Opportunity Set has a positive effect on Earnings Quality, Capital Structure has a positive effect on Earnings Quality, and Profit Persistence, Investment Opportunity Set, and Capital Structure simultaneously effect Earnings Quality.

Corporate Governance Mechanism and Financial Ratios on the Indonesia Stock Exchange: How do they Affect Financial Distress?

Aims: The purpose of this study was to determine the effect of institutional ownership, board of directors, audit committee, company size, and sales growth on financial distress.
 Study Design: The population of this study consisted of 41 retail subsector companies listed on the Indonesia Stock Exchange (IDX) for the 2019-2022 period. The total observation data is 164 and obtained 64 data samples that meet the criteria and 100 data samples that do not meet the criteria (Loss, Gray Area, Incomplete variables). This research data comes from the company's annual financial statements.
 Methodology: The data collection method is purposive sampling and the analysis technique is model fit test, coefficient of determination test, and logistic regression. Financial distress is calculated using the Altman Z-Score calculation, and hypothesis testing is tested using the SPSS 26 analysis tool.
 Results: The results showed that good corporate governance proxied by the board of directors and audit committee has no effect on financial distress, while institutional ownership affects financial distress. Company size variables affect financial distress. While sales growth has no effect on financial distress.
 Conclusion: Based on this study, it is known that institutional ownership has an effect on financial distress, meaning that the greater the percentage of institutional ownership will reduce the possibility of the company experiencing financial distress. The board of directors has no effect on financial distress, meaning that the number of directors in a company does not affect the occurrence of financial distress. The audit committee has no effect on financial distress, meaning that the number of audit committee members is not able to reduce the problem of financial distress. Company size has an effect on financial distress, meaning that a higher total asset value owned by company would reduce the probability of financial distress. Sales growth has no effect on financial distress, meaning that the high or low level of sales growth does not reflect that it can be followed by an increase in profits earned by the company. To avoid financial distress, it is done by higher percentage of institutional ownership, as well higher total asset value owned by the company properly.

Pengaruh Biaya Pencegahan, Biaya Penilaian, Biaya Kegagalan Internal, Dan Biaya Kegagalan Eksternal Terhadap Profitabilitas

This study aims to examine the effect of Prevention Costs, Assessment Costs, Internal Failure Costs and External Failure Costs on Profitability. In this study the population used is the ceramic, porcelain and glass sub-sector companies listed on the Indonesian Stock Exchange from 2017-2021. The sampling technique used purposive sampling. Purposive sampling is a sampling method that is determined through certain criteria by the researcher. Based on predetermined sample criteria, a sample of 6 companies was obtained. This research was conducted with a period of 5 years, so that the total sample of this study was 30 samples. This study uses secondary data using the company's annual financial statements. The data is taken from the Indonesian Stock Exchange. The data analysis technique uses multiple linear regression analysis techniques using SPSS Version 20. The results of the t-test study show that the variable cost of prevention has a significant negative effect on profitability in porcelain ceramic sub-sector manufacturing companies listed on the BEI, the appraisal cost variable has a significant positive effect on profitability on the porcelain ceramic sub-sector manufacturing companies listed on BEI, the variable cost of internal failure has an effect has a significant positive effect on profitability in the porcelain ceramic sub-sector manufacturing companies listed on the Bei, and the external failure cost variable has no significant effect on the profitability of the porcelain ceramic sub-sector manufacturing companies listed on the Bei. The results of the overall variable F test show that prevention costs, appraisal costs, internal failure costs, and external failure costs have a significant effect on profitability in porcelain ceramic sub-sector manufacturing companies listed on the BEI.

Analisis Laporan Keuangan Syariah – PT Bank Muamalat Indonesia Tbk

PT Bank Muamalat Indonesia Tbk (BMI) became a pioneer of Islamic banking in Indonesia after the 1997-1998 monetary crisis. Established in 1992, BMI continues to innovate with Islamic financial products, such as Mudharabah Subordinated Sukuk and Shar-e as the first instant savings product in Indonesia. BMI's focus is not only on customer service, but also on green banking with a policy of not financing businesses that harm the environment. With this, the focus of this research is to analyze the products offered by BMI from 2020 to 2022. Data is obtained through the company's annual financial statements. The performance of this bank is also proven to be in accordance with existing sharia regulations. However, it also has shortcomings in the transparency of the company.

The Impact of Capital Structure, Investment Growth, and Liquidity on Financial Performance of Automotive Companies and Its Components on The Indonesia Stock Exchange (2018-2022)

Purpose: This study analyzes the influence of capital, investment, and liquidity structures on the financial performance of automotive companies and their components listed on the Indonesia Stock Exchange (IDX) from 2018 to 2022.
 Research methodology: Multiple regression analysis was used and data were obtained from the company's annual financial statements from 2018 to 2022. The findings of this study are expected to provide important insights for financial managers and stakeholders in managing company finances, and serve as a reference for investors and creditors in evaluating the financial performance of a company.
 Results: The results show that capital structure has a significantly positive effect on financial performance, while investment and liquidity do not significantly affect financial performance.
 Limitation: The study's limitation is that it focuses solely on automotive companies listed on the Indonesia Stock Exchange during the specified timeframe.
 Contribution: The study's contribution is that it provides empirical evidence regarding the impact of capital structure, investment growth, and liquidity on financial performance in the Indonesian automotive industry, which can inform future research and practical applications in this context.
 Implementation: Capital structure refers to the combination of debt and equity used to finance a company's operations, whereas investment refers to the use of funds or fixed assets to increase the value of the company's products. Liquidity refers to the ability of a company to meet its financial obligations in a timely manner. Multiple linear regression analysis was used in this study, and a sample of 15 companies was selected using purposive sampling.

The Effect of Tax Planning and Company Size on Earnings Management on Manufacturing Listed in Indonesia Stock Exchange

This study aims to analyze the effect of tax planning and company size on earnings management. The data used in this study are the company's annual financial statements with a total sample of 41 samples taken from the annual financial statements of health subsector companies listed on the Indonesia Stock Exchange for the 2019-2021 period. The analysis used is descriptive statistical analysis and multiple linear regression analysis. The results showed that tax planning has no significant effect on earnings management while company size has a significant effect on earnings management. Simultaneously, tax planning and company size have a significant effect on earnings management.

Intellectual capital efficiency and competitive advantage of firms: an empirical analysis

This paper empirically tests the strategic importance of intellectual capital for firms and assesses its impact on their market returns. The study builds on the premise that intellectual capital provides a firm competitive advantage over other firms, which then translates into superior market returns. The sampling frame for the study constitutes of Indian firms listed on the Bombay Stock Exchange’s index for medium-sized companies (BSE Midcap). Accordingly, seven-year data is drawn from authentic sources such as the Prowess-IQ database of the Centre for Monitoring Indian Economy (CMIE) and the company annual financial statements. For ascertaining the extent of the intellectual capital efficiency of firms, the Value-Added Intellectual Coefficient (VAIC) model, first proposed and conceptualized by Ante Pulic has been adopted in this study. The excess rate of return that a firm earns above the average rate of return prevalent in the market, alpha (α), is used as an indicator of the firm’s competitive advantage and a measure of superior performance in the market. Results of the analysis provide irrefutable evidence in support of the fundamental premises and affirm that intellectual capital is the root of competitive advantage, which bestows a firm with higher-than-normal returns on investments.

Corporate Governance Memoderasi Pengaruh Manajemen Laba Riil terhadap Nilai Perusahaan

This study aims to examine the effect of real earnings management moderated by corporate governance with five indicators, namely managerial ownership, independent commissioners, institutional ownership, audit committee and leverage on firm value. The population used in this study were all manufacturing companies listed on the Indonesia Stock Exchange in 2018-2021. The sampling technique in this study used purposive sampling method, obtained 72 samples in the study from 217 companies from 2018-2021. The data used in this study are secondary data obtained from the company's annual financial statements published by the Indonesia Stock Exchange (IDX) and can be accessed through the website www.idx.co.id. The analysis method used is the SEM-PLS test method using SmartPLS software version 4.0. The results showed that real earnings management has a negative and significant effect on firm value and corporate governance does not weaken the effect of real earnings management on firm value.

Pengaruh Struktur Modal, Ukuran Perusahaan, Dan Profitabilitas Terhadap Harga Saham Pada Perusahaan Makanan Dan Minuman Yang Terdaftar Di Bursa Efek Indonesia Tahun 2015-2019: Studi Kasus Universitas Indo Global Mandiri

The objectives of this study are to analyze the effect of capital structure, company size, profitability on stock prices in food and beverage companies listed on the Indonesia Stock Exchange in 2015-2019. Data obtained from the company's annual financial statements. The sample in this study amounted to 13 companies. Furthermore, the data were tested using multiple linear regression. The evidence from this study suggests that the capital structure, company size, profitability have a positive effect on the company's stock price. This study is useful for food and beverage companies listed on the Indonesia Stock Exchange to increase their share price. Companies can consider their capital structure, company size, and profitability. Keywords: capital structure, company size, profitability, stock prices, food and beverage companies.

The Effect of Foreign Ownership, Capital Intensity and Transfer Prices on Tax Avoidance with Company’s Size as Moderator (Case Studies of Industrials Companies Listed on The Indonesian Stock Exchanges For the 2016-2021)

The research is about to test and analyze the impact of foreign ownership, capital intensity, and transfer prices on tax avoidance and to test and analyze the impact of companies' size in moderating foreign ownership, capital intensity, and transfer prices on the tax avoidance listed in the Indonesian stock exchange. Variables used in this study are foreign ownership, capital intensity, and transfer prices as independent variable, tax avoidance as a dependent variable, and company size as a moderate variable. Selection of samples in this study used a factoring method to the established criteria, allowing 27 companies to acquire six years, the total sample used is 162 data. The type of data used is a secondary data obtained from the company's annual financial statements of 2016-2021. The method of data analysis used are panel data analysis, descriptive statistic analysis, classic assumptions test, multiple and moderate regression tests, and hypothetical testing with the help of Eviews 12. Purpose – The objective to be achieved in this study are as follows (1) To test and analyze the effect of foreign ownership on tax avoidance. (2) To test and analyze the effect of capital intensity on tax avoidance. (3) To test and analyze the effect of transfer prices on tax avoidance. (4) To test and analyze whether company size moderates foreign ownership against tax avoidance. (5) To test and analyze whether the size of the company moderates the capital intensity against tax avoidance. (6) To test and analyze whether the size of the company moderates the transfer price against tax avoidance. Design/methodology/approach – This research method used is a quantitative method. Findings – The results of the research: (1) Foreign ownership has a positive effect on tax avoidance; (2) Capital intensity negatively affects tax avoidance; (3) Transfer prices negatively affect tax avoidance; (4) Company size weakens the influence of foreign ownership on tax avoidance; (5) Company size weakens the effect of capital intensity on tax avoidance; (6) Company size weakens the effect of transfer pricing on tax avoidance. Research limitations/implications – (1) There are some companies that display the details of their company's share ownership, but for foreign shareholding, many companies do not have foreign shares and do not even display details. (2) Not many companies display related receivables on assets, making it difficult for researchers to calculate transfer prices. (3) The results of this study show that not all variables have a positive and significant effect, where there is a possibility of human error at the time of data tabulation. Practical implications – Foreign ownership, capital intensity and transfer prices are among the factors influencing tax avoidance. Companies that have foreign ownership will influence the company's policy regarding tax avoidance, the greater the portion of foreign ownership in the company the more it will avoid taxes because foreign shareholders who dominate an issuer will influence management in determining policies that will benefit them such as the company's policy to pay taxes. The higher the intensity of fixed assets owned by the company, the higher the possibility of the company to avoid taxes by utilizing depreciation expenses that will affect tax payments and companies that transfer profits to affiliates located in other countries that have smaller rates or even do not charge tax rates by taking advantage of loopholes in tax regulations.

Effect of Return on Assets (ROA), Return on Equity (ROE), Debt to Equity Ratio (DER), Current Ratio (CR), Net Profit Margin (NPM) and Earning Per Share (EPS) on Stock Prices

The purpose of this research is to examine and verify the impact of Return on Assets, Return on Equity, Debt to equity ratio of manufacturing companies, current ratio, net profit margin, and earnings per share related to stock prices focusing on the cement subsector and listed for 2016– 2021 on the Indonesia Stock Exchange. The sample analysis carried out in this study involved 5 companies, with observations made for 6 years from 2016 to 2021. The data used came from secondary sources, namely the company's annual financial statements downloaded from the IDX's official website. The research strategy for data analysis is multiple linear regression. The results of the study show that individually, Earning Per Share has an influence on stock prices, but Return on Assets, Return on Equity, Debt to Equity Ratio, Current ratio, net profit margin, and stock prices do not seem to be connected