Financial Performance Ratios Research Articles

ANALISIS PENGARUH STOCK SPLIT DAN KINERJA KEUANGAN TERHADAP HARGA SAHAM STUDI PADA EMITEN SEKTOR MANUFAKTUR

Stock split is one of the corporate action by the company with the goal set back to stock prices in the range that is more liquid and provide a quality signal to investors. This study aims to analyze the effect of the stock split and the financial performance of the issuer's stock price studies on the manufacturing sector. The theory is the reference of this study, namely Signaling Theory. Signaling theory declares a stock split provides a positive signal for the company manager will inform the future prospects of the company to the public good who do not know. The stock price is the value of a stock that reflects the wealth of the company that issued the stock. Stock prices are formed from the interaction of buyers and sellers of shares in the stock market or stock exchange which is motivated by their expectations of corporate profits. The study was conducted on 7 companies that are listed on the Stock Exchange and they do stock split in the year 2008-2011. Hipoteis testing in this study using multiple regression. The research instrument will be tested in this study is the Earning Per Share (EPS), Return On Investment (ROI), Return on Equity (ROE), Price Earning Ratio (PER), Price to Book Value (PBV) is to test the effect of the stock split and financial performance of the company's stock price. The equations are formed in this study is Stock Price = C + 11,18421EPS - 2,10ROI - 23,62ROE + 556,82PBV + 85,25PER - 244,80Stocksplit + e. The results showed Earning Per Share (EPS) is a variable financial performance and a significant positive effect on stock prices, both before and after stocksplit, while the Return On Investment (ROI), Return on Equity (ROE), Price Earning Ratio (PER), Price to Book Value (PBV) effect is not significant. According to the theory, the higher the ratio of financial performance, the better the state of a company

FAKTOR-FAKTOR PENILAIAN KINERJA KEUANGAN PADA PT. SINAR RODA UTAMA

The purpose of this study is to find out how financial ratio analysis to assess the financialperformance of PT. Main Wheel Rays in terms of liquidity ratios, solvency ratios, and profitabilityratios using secondary data. The research method used is descriptive quantitative and independentvariables, namely the company's financial performance measured by several sub variablesincluding liquidity ratios, solvency ratios, and profitability ratios. The results of the research are theanalysis of the ratio of liquidity, solvency, and profitability to assess the financial performance of PT.Main Wheel Rays seen from the liquidity ratio of the company's financial performance are in goodcondition, but too much cash is not used. When viewed from the solvency ratio, the company'sfinancial performance is in a bad condition, because the debt ratio continues to increase. Whenviewed from the profitability ratio, the company's financial performance is in good condition, butmust continue to increase profits.

ANALISIS KOMPARASI KINERJA KEUANGAN BPR MILIK SWASTA DAN BPR MILIK PEMERINTAH DAERAH DI PROVINSI JAWA TENGAH PERIODE 2014-2016

This study aims to analyze the Differences in Performance of Private Owned Rural Banks and Local Government-Owned Rural Banks in Central Java Province by using financial performance ratios namely Non Performing Loans (NPL), Capital Adequacy Ratio (CAR), Loan to Deposit Ratio (LDR). ), Earning Assets Quality (KAP), Operating Income Operating Expenses (BOPO) and Return on Assets (ROA). The method used to analyze the data is the Different Test using the Independent T test. This study used the SPSS Version 19. Analysis tool.The population used in this study was BPR in Central Java. The sample of this study is the Rural Bank owned by the Central Java Regional Government and the Private Rural Banks in Central Java Province. Sample selection using purposive sampling. Based on the Independent Test of the T test, there are differences in the NPL and KAP ratios between the Regional Government-owned BPR and the Private BPR, while there are no differences in the CAR, LDR, BOPO and ROA ratios.

Corporate Financial Performance Ratios in the Caribbean

This paper presents the median values of key financial ratios for publicly listed firms on the Barbados, Bahamas, Eastern Caribbean, Guyana, Jamaica and Trinidad and Tobago Stock Exchanges. The ratios are for the period 2005 to 2016 and are presented by country and sector.

Analisis pengaruh rasio kinerja keuangan terhadap profitabilitas bank pembiayaan rakyat syariah di indonesia

This research analyzes about the influence of financial performance ratio to profitability of Rural Bank of Sharia in Indonesia. Financial performance ratio variables are proxied by the Capital Adequacy Ratio (CAR), Non Performing Financing (NPF), Financing to Deposit Ratio (FDR), and Operating Income Operating Expenses (BOPO). Profitability ratio is proxied with Return on Assets (ROA) and Return on Equity). The method used is Lin-Log Logarithm Transformation on Multiple Regression model. The results explain that the Capital Adequacy Ratio (CAR) ratio has no effect and the direction of negative moving relation to ROA and ROE. Non Performing Financing (NPF) and Financing to Deposit Ratio (FDR) ratios have a negative moving influence and direction towards ROA and ROE. Operating Expense and Operating Revenue Ratios have a significant influence. Direction of negative moving relation to Return on Assets (ROA) and positive to Return on Equity (ROE). This study found that the profitability of Sharia Rural Banks in Indonesia (BPRS) is influenced by the level of problem financing, proper allocation of financing, and the balance of operational efficiency.

Digital banking, customer experience and bank financial performance

PurposeThe purpose of this paper is to examine customers’ perceptions of digital banking (DB), customer experience, satisfaction, loyalty and financial performance (FP) in UK banks.Design/methodology/approachThe research consists of a survey of UK bank customers’ perceptions of the above themes; use of banks’ financial reports to obtain FP ratios; multivariate factor analysis; structural equation modelling; and analysis of variance tests to explore research hypotheses on the relationships among the study factors.FindingsThe main factors which determine customer experience in DB are service quality, functional quality, perceived value (PV), employee-customer engagement, perceived usability and perceived risk. There is a significant relationship among customer experience, satisfaction and loyalty, which is related to FP.Research limitations/implicationsThis study concentrates on UK bank customers which limits its generalisability to other banks globally. However, the fact that banks typically adopt common standards in bank financial management implies that the findings are potentially robust for global bank management. Replicating the study in banks in other countries will further enhance this robustness.Practical implicationsSome significant effects of customer characteristics on the study factors were observed, which have useful implications for DB, bank marketing services and bank FP.Originality/valueUnlike previous studies, this study uses both Net Promoter Score and financial ratios as dependent variables, to provide a combined study of the relationships among 14 study factors, with implications for bank marketing and FP.

ANALISIS FRONTIER EFFICIENCY INDUSTRI PERBANKAN INDONESIA DENGAN MENGGUNAKAN METODE DISTRIBUTION FREE APPROACH

As an intermediary institution, bank has a very vital role in the economic development of a country so bank has to operate efficiently. The efficiency analysis can be conducted with the three approaches, namely cost efficiency, profit efficiency, and alternative profit efficiency. The three approaches can measured with two methode, parametric and non parametric. By using parametric methode (Distribution Free Approach), cost efficiency of 107 commercial banks operating for 10 years (2002- 2011), the average cost efficiency of banks in Indonesia is 0.6729. While the average value of the profit efficiency in Indonesian banks is 0.96363 or more efficient than cost efficiency. The score of alternative profit efficiency Indonesian banks is 0.965957. The cost efficiency of commercial banks on average have no strong correlation with all financial ratios of banks. The profit efficiency have a strong relationship with financial ratios ROA and BOPO. Financial performance of the bank's ROE ratio has a moderate correlation with the level of profit efficiency. While the level of alternative profit efficiency have a strong relationship with financial performance ratios ROE, ROA, and ROA. NIM ratio has a low relationship with alternative profit efficiency. Keyword: Distributin Free Approach, Cost Efficiency, Profit Efficiency, and Alternative Profit Efficiency.

ANALISIS FRONTIER EFFICIENCY INDUSTRI PERBANKAN INDONESIA DENGAN MENGGUNAKAN METODE DISTRIBUTION FREE APPROACH

As an intermediary institution, bank has a very vital role in the economic development of a country so bank has to operate efficiently. The efficiency analysis can be conducted with the three approaches, namely cost efficiency, profit efficiency, and alternative profit efficiency. The three approaches can measured with two methode, parametric and non parametric. By using parametric methode (Distribution Free Approach), cost efficiency of 107 commercial banks operating for 10 years (2002- 2011), the average cost efficiency of banks in Indonesia is 0.6729. While the average value of the profit efficiency in Indonesian banks is 0.96363 or more efficient than cost efficiency. The score of alternative profit efficiency Indonesian banks is 0.965957. The cost efficiency of commercial banks on average have no strong correlation with all financial ratios of banks. The profit efficiency have a strong relationship with financial ratios ROA and BOPO. Financial performance of the bank's ROE ratio has a moderate correlation with the level of profit efficiency. While the level of alternative profit efficiency have a strong relationship with financial performance ratios ROE, ROA, and ROA. NIM ratio has a low relationship with alternative profit efficiency. Keyword: Distributin Free Approach, Cost Efficiency, Profit Efficiency, and Alternative Profit Efficiency.

ANALISIS KINERJA KEUANGAN TERHADAP RETURN SAHAM PERBANKAN YANG LISTING DI BURSA EFEK INDONESIA PERIODE 2011-2014

This research aims to test about the financial performance ratios, namely DER, ROA, EPS, Firm Size, and PBV to the Banking Company shares in the Indonesia Stock Exchange Period 2011-2014. This study uses 25 research objects of Banking Companies listed on the Indonesia Stock Exchange with a 4 year study period that resulted in 100 samples. The results showed of goodness of fit that the fit is perfect. In the hypothesis test using LISREL software is obtained by looking at the t-value to see the effect of variables and determine the significance of the look coefficient on standarized solution. The results show the value of DER 0.181 < 1.96 thus directly DER no effect on stock returns, the value of ROA -1.556 < 1.96 thus directly ROA no effect on stock returns, the value of EPS 1.942 < 1.96 so that EPS does not directly affect the stock return, the value of Firm Size -2.813 > 1.96 thus directly Firm Size effect on stock returns and the value of PBV 3.834 > 1.96 PBV thus directly affect the stock return. Meanwhile, if viewed from the indirect effects of exogenous variables on endogenous variables through an intervening variable the result is: the value of DER 1.262 < 1.96, so that indirectly DER no effect on stock returns through the PBV, the value of ROA 3.253 > 1.96 so that no ROA direct effect on stock returns through the PBV, and the value of EPS 0.436 < 1.96, so that indirectly EPS has no effect on stock returns through the PBV, the value of Firm Size 0.088 < 1.96, so that indirectly Firm Size does not affect the stock returns through the PBV. As a suggestion, the researchers recommend further research to further develop similar research with financial ratios are more varied so as to inform potential investors, financial ratios anything what is good to note that a refund / return through dividends divided by the company or of a capital gain is pretty. In addition to the many studies that developed it is expected that a theory is directly proportional to the results of research.

Financial analysis of companies concerned about human rights

Consumer demand for low prices juxtaposing with a company's need for profitability drives corporations to minimise the costs of goods within their supply chains. This has led some unethical business managers to engage in human exploitation within company supply chains. However, consumers also demand that human rights are not violated in the making of the goods they buy. Thus, corporations are being held accountable for monitoring human rights within their supply chains. The purpose of this paper is to examine the financial performance of Fortune 500 companies that have shown concern over human rights within their supply chains. Since there is a financial cost in safeguarding human rights within supply chains, this paper seeks to determine if companies concerned about human rights suffer financial loss. The 92 concerned companies in the sample, compared to the average company in top industries, were found to have some significantly different financial performance ratios.

Financial Performance towards Value of Firms in Basic and Chemicals Industry

1. Introduction Capital market is one of the major contributors of economic growth in Indonesia. Rise and fall of the stock index is a reflection of the economic dynamism of the country (Widoatmodjo, 2009). Capital market is a platform between parties who have excess fund (investors) to those who need additional fund by trading the securities issued by the related companies (Tandelilin, 2010). The performance of capital market could be used as a benchmark to determine the economy growth of a country (Fetai, 2015; Glavina, 2015; Thalassinos, 2008; Thalassinos et al., 2012). Investment activity is an activity of placing funds in to one or more than one assets in a certain period with expectation of generating income or increasing value of the investment. Increasing trading value will be followed by increasing stock price (Husnan, 2005). Investment climate in Indonesia tends to hike in accordance with the new regulation of Decree No. KEP-00071/BEI/11-2013 concerning Changes to Round Lots and Tick Price. Effectively implemented since January 6, 2014, the new regulation stipulated the round lot value of equity security now consists of 100 shares as compared to 500 shares set out in the previous Decree of 2012. Decreasing round lots is expected to attract investors to trade actively at stock exchange, because the funds needed to purchase a stock became less. Since more investors are entering the stock market, there will be more trading transactions so it will enhance market capitalization and the liquidity of stock will go up. Liquid stocks will have high trading value, which indicates the investors are attracted to this stock. Stock price is formed on the power supply and demand in the stock market which is influenced by investors' considerations both from firm's internal and external factors (Jogiyanto, 2010; Thalassinos et al., 2015; Rupeika-Apoga and Nedovis, 2015). An investor, before making any decision regarding an investment, should always analyze and have in depth knowledge about the performance of related firm. The firm's performance could be discovered through the firm's internal information sourced from the firm's financial statements (Hanafi and Halim, 1996). The information presented in the financial statements has been sufficiently described the development of the firm and its achievements. If the financial performance of a firm shows good prospects, the stockholders and potential investors will be interested in buying the stocks, which will affect stock price (Tcvetkov et al., 2015). Generally, the main purpose of a firm is to maximize the wealth of its stockholders through the firm's value as reflected in the stock price (Brigham and Houston, 2001). The stock price is the price that would be paid by investors as an evidence of ownership. The higher the value of the firm, the more an investor is willing to pay for a stock. The stockholders always observe stock price movements, as the value of their prosperity is determined by the stock price. The stock price will directly affect value of the firm, which is an important indicator for investors. Value of a firm is very essential because it reflects firm's performance that could affect investors' perception towards the firm. In general terms, there are three approaches to value a firm which are discounted cash flow valuation, relative valuation, and contingent claim valuation (Damodaran, 2012). In reality, the most approach used is the relative valuation which will become the focus in this study. Relative valuation estimates the value of an asset by analyzing its pricing of comparable assets relative to a common variable. Price earnings ratio (PER), price to book value ratio (PBV), Tobin's Q, and price sales ratio are some of the widely used ratios to determine the value of a firm. A publicly traded firm provides information regarding its financial performance and financial ratios as consideration for investors in making an investment decision. …

FINANCIAL EFFICIENCY OF COOPERATIVE BANKS LED BY WOMEN IN POLAND

The main objective of the study was to determine whether the fact that the chairpersons of the boards of cooperative banks in Poland are women, it affects the financial performance of these banks. The study used data for the years 2010-2014 from 40 cooperative banks in Poland. In the course of the study, it was found that the banks managed by women are significantly smaller than men’s managed banks, and hence the financial result is generally lower. However, the financial performance ratios in these banks were generally higher. Smaller banks are generally in rural areas, and banks with a larger total balance sheet are usually located in urban areas.

Measurement of Regional Financial Performance and Economic Growth: A Lesson from North Sumatra Province, Indonesia

The research aims to provide the input to the Government of City and County in evaluating the financial performance in each region. Using the variables include the ratio of the debt to GDP, income of the original of the region and regional income, debt service ratio, the growth of spending, spending and efficiency ratio expenditure regions to GDP. Additionally, analyzing the ratio which has a strong influence on economic growth in the city of Medan, Binjai and county of Deli Serdang in ranging from 2008 to 2014. The results showed that the ratio of the debt to GDP, the ratio of debt to income of original regions, debt service ratio, debt ratio to income region, growth of expenditure ratio, expenditure ratio efficiency, expenditure regions to GDP simultaneously impact to the centre of economic growth (refer to GDP rates apply) in the Government county of Deli Serdang, Medan and Binjai in North Sumatra. Besides, the results showed the ratio of debt to GDP and debt ratio to income of the original regions partially has affected negatively to GDP (rates apply). Otherwise, debt service ratio, and ratio of regional expenditure to GDP have a positive effect on the GDP (rates apply), debt ratio to income regions, the findings result also shows that partially the growth of spending, and spending efficiency ratio have not effect on the GDP (rates apply) to entire the City Government both in county and city as well as in Deli Serdang region, North Sumatra Province. The research results also showed the Adjusted R Square of the debt ratio to GDP, the debt ratio to the Income of the original of region, debt service ratio, the debt ratio against the income regions, the growth of expenditure, expenditure ratio efficiency, expenditure regions to GDP is 68,80%, whereas 31.20% are caused by another factors such as the ratio of financial dependency of the regions, the growth of debt, the realization of revenue and expenditures and the other financial performance ratios.

Comparison of Income Statement Approach and Shari'ate Value Added Statement Approach in Assessing the Financial Performance of Islamic Banks in Indonesia

The purpose of this study is to comparison in financia performance of Islamic banks in Indonesia by using the Income Statement (IS) approach and Shari'ate Value Added Statement (SVAS) approach. The type of research is quantitative, sample using a purposive sampling technique with the criteria of Islamic banks in Indonesia the which presents a financial annual report the period 2008-2012. Financial ratios used consisted of Return On Asset (ROA), Return on Equity (ROE), the ratio between the total net income by total productive assets (LBAP), Net profite Margin (NPM), and Operating Expense to Operation Income (OEOI), Analysis tool used to prove the hypothesis of this study is an independent sample t-test and Mann Whitney U. The result Showed that the average financial ratios (ROA, ROE, LBAP, NPM and OEOI) there are differences singnificant between the model of IS and SVAS. Differences in the ratio of financial performance is due to the differences in the design of the presentation and disclosures relating to profit and added value. Income Statement "IS" looked at income as profit, whereas the Shari'ate Value Added Statement "SVAS" looked at income as an added value.

Using a Two-Step Transformation to Address Non-Normality from a Business Value of Information Technology Perspective

ABSTRACTAccounting information systems (AIS) research data may suffer from severe non-normality, which, if not handled properly, may lead to incorrect statistical inferences. To address this problem, we empirically evaluate the relative merits of a Two-Step normality transformation proposed by Templeton (2011) compared to four alternative distributions available to researchers (random-normal, original, natural log transformed, and winsorization transformed). Using 45 corporate financial performance ratios (CFP), we investigated three perspectives on measurement validity: construct validity, reliability, and difference testing. We then examined the efficacy of the Two-Step method in the context of business value of IT research—we regressed four IT investment and three control variables on 31 of theoretically relevant CFP indicators. The preponderance of our evidence shows that the Two-Step method consistently outperforms the prominently used alternatives in achieving statistical normality, retaining original series means and standard deviations, exhibiting validity and reliability, and theory testing. Our findings strongly suggest that AIS researchers consider adopting the Two-Step normality transformation when utilizing non-normally distributed data to obtain a more accurate understanding and interpretation of results.

Analysis of Financial Performance of Local Government Keerom Fiscal Year 2009 - 2013

This study is purposed to (1) determine the financial management performance of Keerom district, (2) effective and efficient in the financing the needs of the region. This research is a descriptive study describing and analyzing the data obtained. The object of this study is to measure the performance of financial management in Keerom district in terms of the ratio of financial independence area, Regional Financial Dependency Ratio, the ratio of fiscal decentralization, the effectiveness and efficiency ratios. Results of the analysis of the financial performance ratio in Keerom district in 2009-2013 shows that (1) the financial performance is not optimal yet in the implementation of regional autonomy, this is indicated by the indicator of financial performance, they are; Regional independence of Keerom district reached 3.22%, Regional Financial Dependence is very high towards the central government, it is reached 53.91%, and the Fiscal Decentralization is less, considering the financial dependence on the central government is very high at 16.44%. (2) effectiveness in managing local finance in Keerom district is Highly Effective since it reaches 95.11% and it needs to be maintained and improved, but the efficiency of financial management in this district shows the results of inefficient, it reaches 100.41%, then it needs special attention in order to avoid wastage in the use of finance to fund the development and the activity of other areas.

Financing Corporate Organization for Efficient Performance in Nigeria Equity or Debt Option

This paper investigates the financing corporate organization for efficient performance: equity or debt option. To carry out this research we employed a disaggregated approach using sample of twenty -seven firms listed on the Nigerian Stock Exchange during the seventeen- year period, 1996- 2013 and a model with the necessary policy variables was constructed. Panel data for the selected firms are generated and analyzed using Ordinary Least Squares (OLS) as a method of estimation. Our result reveals that a firm’s capital structure represented by Debt Ratio, DR has a significantly negative impact on the Return on Asset (ROA) and Return on Equity (ROE) (firm’s performance proxies). Also the relationship between ROA and firm’s asset tangibility is negative and significant at 1% level being wrongly signed, against a priori expectations. This shows that firms with high ratio of tangibility have a lower financial performance ratio. The results also show that the size and growth of firm are correctly signed consistent with Myers and Majluf (1984). The study by these findings indicate consistency with previous empirical studies and provide evidence in support of Agency cost theory. The author recommended among others that firms should identify other relevant factors that influence corporate performance other than debt. It is also necessary that firms understand their conditions, analyze their debt capacities, look at the need to maintain comparability with firms in the same industry before making the final decision regarding the option; and especially when presented with attractive new growth opportunities.

ANALISIS FINANSIAL USAHA KERAMBA JARING APUNG DI PERUSAHAAN PERSEORANGAN DOBRO

This research is intended to know factors influencing fish production, financial performance and business security of private company Dobro. Data which are analyzed including production data (production, feed, seed and worker) for fish production factors analysis, balancing and profit/loss statement 2006 - 2009 for financial performance and business security analysis. The production factors analysis in this research uses regression method with Cobb-Douglas production function approach. The financial performance and business security use financial statement comparison and ratio analysis. Ratios that be researched are liquidity (ratios that be researched are current and quick ratio), solvability (ratios that be researched are total debt to total asset ratio and total debt to equity ratio), efficiency (ratios that be researched are inventory turnover, account receivable turnover, fixed asset turnover and total asset turnover) and profitability ratio (ratios that be researched are gross profit margin, operating profit margin, net profit margin and return on investment). Business security analysis use Altman Z” score to detect company position in Altman area of bankruptcy. The result of this research could be concluded that fish production is simultaneous and individually influenced by feed, seed and worker. Financial analysis shows company liquidity in good condition with positive average growth values. Solvability is also in good condition with negative average growth values. Commonly efficiency and profitability have normal values, but have negative average growth value. Based Altman Z” score, company exists in area which secure from bankruptcy threat. Keywords: Production, financial, bankruptcy

Pay-performance relationship in German state-owned enterprises: Evidence and reflection for organizational success research with undistorted and “right” data

Empirical studies show that state-owned enterprises (SOEs) are very important for society. The compensation of executive directors is crucial in the debate on effective, efficient and sustainable public service provision. Nevertheless, there are very few empirical studies in the international literature for SOEs – in contrast to the private sector. This paper examines the pay-performance relationship of executive directors from 176 SOEs in eleven sectors by assessing 498 annual statements. As a methodological contribution, the paper illustrates the necessity of the adjustment of balance sheet data to obtain meaningful, undistorted performance ratios. The findings show no significant link between financial performance ratios and the executive director compensation. There are no differences between the association with the compensation for ROE and ROA, although ROA would be a more meaningful indicator. A bonus-malus system is often required but not structurally practiced by a majority of SOEs. New insights show the need for additional research activities as well as the necessity for policy makers for clear rules for the compensation of executive directors in SOEs.

Rates of credit obligations compliance on IFRS financial statement as a factor of financial stability

For the purposes of effective management of economic activity of the entities of insufficiently own accounting information. For objective assessment of a financial and economic provision of the entity it is necessary to pass from separate accounting data to certain valuable ratios of major factors – to financial performance or financial ratios. Calculation and interpretation of their values the integral and essentially necessary part of a financial analysis, especially it is important if the company has credit liabilities. Conditions of credit agreements often include accomplishment of credit covenants which represent restrictions for activities and a financial position of the company in addition to timely settlement of percent and a body of the credit and provide to lessors a certain level of safety from bankruptcy of the debtor. The article considers the covenants and financial covenants definitions; the main financial covenants containing in credit agreements between large banks and borrowers; data on structure of a credit portfolio and financial debt of NLMK as at June 30, 2016; the main financial covenants containing in credit agreements of the companies of NLMK Group; definitions and formulas of calculation of financial rates based on the IFRS financial statement; calculation of covenants on the example of IFRS consolidated financial statements of NLMK; subtleties of calculation of financial rates; the main differences of financial rates calculation based on the financial statements prepared on the different principles; conclusion about stability and a financial condition of NLMK by the results received during calculation financial covenants as at end of the first half of the year 2016.