Financial Performance Variables Research Articles

BPR RESILIENCE IN ECONOMIC UNCERTAINTY: COMPARISON OF BPR FINANCIAL PERFORMANCE IN INDONESIA BEFORE AND DURING THE COVID-19 PANDEMIC

The primary objective of this study was to examine the performance of BPRs in Indonesia before and during the Covid-19 pandemic. The focus was on assessing financial performance variables, including Loan to Deposit Ratio (LDR), Non-Performing Loan (NPL), Return on Asset (ROA), and Credit Disbursement. To achieve the study's objectives, a Descriptive Statistical Analysis was employed to provide a detailed overview of BPR performance during the two distinct periods. Additionally, a Difference Test, utilizing the Wilcoxon Test, was conducted to assess the significance of the differences observed between the pre-pandemic and pandemic periods. The results of the analysis revealed notable differences in the condition of BPRs before and during the Covid-19 pandemic. Significant changes were observed in financial performance variables such as NPL, ROA, and Credit Disbursement. However, LDR exhibited a tendency to be insignificant during this comparative analysis. It is crucial to acknowledge certain limitations in this study. The analysis focused primarily on financial performance variables, and other relevant factors may need consideration for a comprehensive understanding. Additionally, the study's findings are specific to the given time frame and may not account for potential longer-term effects. The identified differences in BPR performance provide valuable insights for policymakers and industry stakeholders. These findings can serve as a foundation for designing effective policies and strategies to address the economic impact of the pandemic. Moreover, the study offers essential insights for the banking industry, guiding them in adapting and building resilience in response to unexpected external changes.

Analysis of the Impact of the Covid-19 Pandemic on Financial Performance

This study aims to analyze financial performance during and after the covid-19 pandemic in information technology companies in ASEAN countries. Financial performance variables are proxied by profitability ratios using Return On Asset (ROA), liquidity ratios using Current Ratio (CR), activity ratios using Total Asset Turnover (TATO), and solvency ratios using Debt To Equity Ratio (DER). Using company financial data with a cross-country population in countries that are members of the ASEAN countries including Indonesia, Malaysia, Singapore, Philippines, and Thailand. The total number of samples used was 84 information technology companies. This research is a quantitative research with analysis method using Wilcoxon Signed Ranks Test comparative analysis. The results showed significant differences in Indonesia in CR and DER, and in Thailand in TATO. This study also shows from the five countries that Indonesia has the best financial performance because it experiences a significant average increase. compared to other countries that tend to experience an average decrease even though it is not significant. The decline can be seen in Malaysia and Thailand which experienced an average decline, while in Singapore and the Philippines although there was a decrease but there was also an increase.

PENGARUH DIVIDEN, KEBIJAKAN UTANG DAN KINERJA KEUANGAN TERHADAP HARGA SAHAM PADA PERUSAHAAN INDEKS LQ45 DI BURSA EFEK INDONESIA TAHUN 2019-2023

This study aims to analyze the effect of Dividends, Debt Policy, and Financial Performance on Stock Prices. This study was conducted by analyzing the financial statements of LQ45 Index companies listed on the Indonesia Stock Exchange during the 2019-2023 period. This study uses secondary data in the form of annual financial reports from the Indonesia Stock Exchange. The type of research used is quantitative with an associative method. The sampling technique in this study used the purposive sampling method, obtained as many as 12 companies with a time span of 5 years, so that the data processed was 60 data samples. The data analysis technique in this study used the panel data regression analysis method and the data analysis tool in this study used the Eviews version 13 software program. The results of this study indicate that simultaneously the Dividend, Debt Policy, and Financial Performance variables together have a significant effect on Stock Prices. And the partial results of the study indicate that the Dividend variable has a significant negative effect on Stock Prices, the Debt Policy variable does not have a significant effect on stock prices, and the Financial Performance variable has a significant positive effect on Stock Prices.

Financial Performance Measurement Using the Value Added Method to Determine the Effect on Stock Prices

One of the Indonesian government's policies since 2015 has been to increase development through its developed infrastructure, by increasing its budget for this sector from year to year. However, companies listed in the engineering and construction subsector on the Indonesian Stock Exchange, both state-owned enterprises and private companies, experienced losses so it could be said that their financial performance was poor. This study intends to evaluate the financial performance engineering and construction sub-sector companies using the Economic Value Added (EVA), Market Value Added (MVA), Refined Economic Value Added (REVA), Financial Value Added (FVA), and Shareholder Value Added (SVA) in 2018 – 2023 and determine their influence on stock prices. This type of research is quantitative descriptive research using E-Views 12 with a population 26 companies and a sample size 16 companies. Based on the results the calculations and analysis, it stated that EVA, MVA, REVA, FVA, SVA and stock prices engineering and construction companies, both state-owned and private, during the 2018 - 2023 period obtained an average of negative amounts. The research results show that the financial performance variables using value added have an influence on stock prices with influence of 74.57% while the rest is influenced by other variables not examined in this research. Partially only MVA and SVA have an influence on stock prices because based on the probability test using E-Views 12 it appears that only MVA and SVA produce results below the alpha. The suggestion for this research is that company management should pay attention to the company's financial performance, especially the MVA and SVA variables and further researcher can make comparative research between all value-added variables.

Development of Carbon Emission Disclosure Indicators in Indonesia and Analysis of Determining Factors

The first objective of this research is to develop indicators of carbon emission disclosure in Indonesia, while the second objective is to analyse the determinants of carbon emission disclosure. This research resulted in the development of carbon emission disclosure indicators. The development recommendations were derived from a review of scientific literature. The results of the recommendation are 14 theme indicators as a measure in carbon emissions disclosure and also become dependent variable of this research. Furthermore, this research analyses various determinants that affect carbon emission disclosure. There are four main groups of variables determined in this study, namely financial performance, ownership, committee, and board of directors. The scope of the research is 225 companies sample listed on the Indonesia Stock Exchange. The industry sectors that are the scope of the research are the energy sector, industrial sector, basic material sector, non-cyclical consumer sector, and transportation sector. The method used in this research is a combination of qualitative and quantitative. The development of carbon emission disclosure indicators was examined using qualitative methods through a literature review. While the determinant analysis uses quantitative methods with probability analysis (logistic regression analysis). The results showed that the group of financial performance variables (represented by leverage and market value variables), ownership (represented by International Listing and state ownership variables), committee (represented by environmental committee), and board of directors (represented by Board Diversity) on carbon emission disclosure in Indonesia have significant effects. The development of indicators and the results of this research have supported the Legitimacy theory as a basis that can influence company's carbon emissions disclosure. The novelty of carbon emissions disclosure indicator can be used as a reference for companies and regulators as a basis for complete carbon emissions disclosure.

THE INFLUENCE OF CORPORATE SOCIAL RESPONSIBILITY (CSR) AND GOOD CORPORATE GOVERNANCE (GCG) ON COMPANY VALUE WITH FINANCIAL PERFORMANCE AS AN INTERVENING VARIABLE

This research aims to determine the influence of Corporate Social Responsibility (CSR) and Good Corporate Governance (GCG) on company value with financial performance as an intervening variable. CSR variables are measured using CSRI published by GRI G4, GCG variables are measured by audit committee, independent commissioner, managerial ownership and institutional ownership. The financial performance variable is measured using return on equity (ROE) while the firm value variable is measured using Tobins'Q . The type of research used in this research is quantitative research using panel data and analyzed using SPSS Version 25 software. This research uses a purposive sampling technique with the object being raw materials sector companies listed on the Indonesia Stock Exchange (BEI) in 2017-2022. The number of samples obtained was 99 samples. Because the data used was not normally distributed, data outliers were carried out by removing 9 data so that the remaining 90 data would be used as samples. The results of this research indicate that Corporate Social Responsibility (CSR) has no effect on financial performance. Good Corporate Governance (GCG) has no effect on financial performance. Corporate Social Responsibility (CSR) influences company values. Good Corporate Governance (GCG) has no effect on company value. Financial Performance has no effect on company value, Financial Performance cannot mediate CSR on Company Value. Financial Performance can mediate GCG on Company Value.

PENGARUH UNIT-UNIT USAHA TERHADAP KINERJA KEUANGAN PADA KOPERASI PEGAWAI REPUBLIK INDONESIA (KPRI) GURU-GURU RAUNG SITUBONDO

This study aims (1) to determine the partial effect of savings and loan business units, self-service business units and general fueling station business units on financial performance (2) to determine the simultaneous effect of savings and loan business units, self-service business units and station business units. general refueling on financial performance (3) to determine the effect of savings and loan business units, self-service business units and general refueling station business units which have a dominant influence on financial performance. The method used is multiple linear regression analysis, t test, f test, dominant test and coefficient of determination. The result of this research is multiple linear regression equation Y = 4.191 + 0.057 X1 + 0.052 X2 - 0.552 X3 + e. Partial testing is the savings and loan business unit (count )1,578 < t_table 2,042, the self-service business unit tcount 0.395 < ttable 2,036 and the general fuel filling station business unit -tcount -4.693 > -ttable -2,036. Thus, the savings and loan business unit, the self-service business unit and the general fueling station business unit have no effect on financial performance. Simultaneous testing of savings and loan business units, self-service business units and general fueling station business units has an effect on financial performance because the value of Fcount is 7.649 > Ftable 2.90. There is no dominant variable to influence the financial performance variable.

The Influence of Inflation, Interest Rates, and Financial Performance on LQ45 Index Share Prices in 2019-2023

This research aims to understand and analyze the effect of inflation on stock prices, the effect of interest rates on stock prices, and the effect of financial performance on stock prices. This study uses a quantitative method. The population in this study consists of companies listed on the Indonesia Stock Exchange and included in the LQ45 index for the years 2019-2023. The sample selection technique used is purposive sampling. Based on predetermined criteria, 21 companies were selected as samples in this study. The data used are secondary data, including inflation data, interest rates, company financial reports, and stock prices. The data collection techniques include non-participatory observation with documentation study and literature review. The data analysis techniques used are descriptive tests, classical assumption tests, panel data regression analyses, and hypothesis testing, with the analytical tool used being EVIEWS 12. The results of the study show that simultaneously, the variables of Inflation, Interest Rates, and Financial Performance have a significant effect on stock prices. Partially, the inflation variable does not affect stock prices, while the interest rate variable has a significant negative effect on stock prices, and financial performance has a significant positive effect on stock prices.

Mainstreaming Microfinance: Balancing Financial Performance and Outreach

There is an unsolved dilemma in the Sri Lankan microfinance sector: whether microfinance institutions target low-income earners or seek profitability. To contribute to this debate, this research investigates the effect of financial performance on outreach and the effect of outreach on financial performance. Balancing financial performance and outreach of microfinance institutions have been conducted in various countries and regions, but specifically not for Sri Lanka after implementing No.06 of 2016 Microfinance Act. This study used an empirical data set for ten years, from 2010 to 2019. Data was collected from 16 MFIs and the panel data regression model was used for the analysis. According to the results MFIs can achieve financial and social objectives simultaneously when serving a larger number of customers and a high percentage of female borrowers. But providing services to the core poor people diminishes their financial performance. As per the findings, policy makers are required to make a roadmap to protect both customers and organization financial sustainability. This study emphasizes the importance of having a proper reporting system for the microfinance sector and future research may wish to consider more MFIs by considering a long period and future research can occupy financial performance and outreach variables which are good at forecasting.

THE INFLUENCE OF ENVIRONMENTAL SOCIAL GOVERNANCE (ESG) ON COMPANY VALUE WITH FINANCIAL PERFORMANCE AS A MEDIATION VARIABLE

This research was conducted to analyze the relationship between ESG and company value and the role of financial performance variables as mediation between the two. The sample in this research is the energy company sector listed on the Indonesia Stock Exchange (BEI). By implementing good ESG, a company can improve quality, credibility and public trust. Increasing a company's attractiveness also attracts more investors to invest, so that a company can also improve its financial performance. Thus, good financial performance indicates effective ESG practices, so this can increase the company's value for investors. The sample for this research is companies listed on the Indonesian stock exchange in the energy sector consisting of 42 companies with a 2 year period from 2021 to 2022. The statistical tool used is the e-views 12 program with a quantitative approach through the method used for mediation regression analysis multiple. It is known that research shows that ESG influences company value and company financial performance. However, financial performance is not able to directly increase company value, this is proven by the financial performance variable which is proxied by ROA showing less than optimal figures so that it is unable to mediate the relationship between ESG and company value. This research supports the development of the application of ESG practices in energy companies in order to improve the company's credibility and attract more investors in the future.

The Influence of Current Ratio and Debt To Asset Ratio on Financial Performance at PT Unilever Indonesia Tbk (Case Study on the Indonesian Stock Exchange for the 2015-2022 Period)

This research was carried out to determine the influence of Current Ratio and Debt Asset Ratio on Financial Performance. The object of the research was carried out at PT Unilever Indonesia Tbk, with types of secondary data taken from the financial reports for 8 years from 2015-2022 which were divided into 3 parts. month. The type of research used is quantitative research with associative descriptive methods, with data collection techniques, namely using documentation techniques. The population in this research is the financial report for the year 2015-2022. The sampling technique in this research uses non-probability sampling. Meanwhile, the data analysis used is the classical assumption test which includes data normalization test, multicollinearity test, heteroscedasticity test and autocorrelation test, correlation test, coefficient of determination test and multiple linear regression, partial and simultaneous hypothesis testing. Based on the results of this research, it shows that the Current Ratio is partial. has a negative and significant effect on Financial Performance. Next, the Debt to Asset Ratio variable has no partial effect on the Financial Performance variable. Current Ratio and Debt to Asset Ratio have a simultaneous influence on the Financial Performance of PT Unilever Indonesia Tbk for the 2015-2022 period

Firm Size as a Mediator between Inventory Management and Performance of Nigerian Companies

This study employed a dissimilar methodology in investigating the mediating role of firm size on the relationship between inventory management and performance of non-finance companies publicly listed on the Nigerian Exchange Group. The study was hinged on just-in-time paradigm while variables of inventory management and financial performance were obtained from the annual reports and accounts of 76 non-finance companies. The results obtained from the structural equation modelling showed that size of firm mediates on the relationship between inventory management and financial performance measures of the study and it was found to be significantly positive. On the basis of this, it was suggested that companies need to strengthen inventory management practices as well as increasing their sizes. The size of companies can be increased by way of investing more funds in their asset structures.

Impact of senior management’s financial intelligence on the financial performance of banks and insurance companies in the Gaza Strip

PurposeThis study investigates the impact of senior management’s financial intelligence on the financialperformance of banks and insurance companies operating in the Gaza Strip.DesignThe study followed the descriptive analytical approach to measure financial performance by relying on the financial reports of the sample companies for 2022. Two primary sources were employed: a questionnaire to collect the financial intelligence data, and it was distributed to a sample of individuals representing the management of companies operating in the Gaza Strip. A total of (67) completed questionnaires were obtained. In addition, secondary data from 11 banks and insurance companies operating in the Gaza Strip was collected to compute the financial performance variables such as returns on investment (ROI), assets (ROA), and equity (ROE). The collected data were then analyzed using SPSS software version 28.FindingsThe results indicated that the dimensions of financial intelligence were available. Banks and insurance companies have good financial performance. Furthermore, financial intelligence (understanding beyond the numbers, understanding financial analysis, and grasping the overall financial picture) significantly affected the performance of banks and insurance companies, as measured by ROI and ROA. The dimensions of financial intelligence (mastering financial and monetary skills, understanding financial analysis, and grasping the overall financial picture) also significantly impacted the performance of banks and insurance companies as measured by ROE. Simultaneously, there was no significant effect of financial intelligence (mastering financial and monetary skills) on the performance of banks and insurance companies as measured by ROI and ROA. Furthermore, there was no significant effect of financial intelligence (understanding beyond the numbers) on the performance of banks and insurance companies as measured by ROE.OriginalityTo the best of the author’s knowledge, the current study is among the first research efforts in Palestine.Practical implicationsThe findings indicate that senior management should pay greater attention to developing financial intelligence skills among employees in supervisory positions, especially those in the administrative, financial, and planning fields, due to their impact on improving companies’ performance.

Environmental, Social, And Governance (ESG) Disclosure, Intellectual Capital And Firm Value: The Moderating Role Of Financial Performance

Purpose: This study aims to empirically examine the effect of Environmental, Social, and Governance (ESG) disclosure and intellectual capital on firm value moderated by financial performance. Methodology/approach: This study uses a quantitative approach with a positivism paradigm. The sample in the study was 125 observations from 25 energy sector companies listed on the Indonesia Stock Exchange during the 2018-2022 period. The data analysis technique in this study uses Hierarchy Regression Analysis through the use of Multiple Regression Analysis and Moderated Regression Analysis (MRA). Findings: The results showed that Environmental, Social, and Governance (ESG) disclosure has no effect on firm value, while intellectual capital has a positive effect on firm value. This study also shows that financial performance is able to moderate by strengthening the relationship between Environmental, Social, and Governance (ESG) disclosure and intellectual capital on firm value. Practical implications: Companies should strengthen and pay more attention to Environmental, Social, and Governance (ESG) disclosure to fulfill the needs of interested parties. Investors should also consider more financial and non-financial information in assessing companies for decision making. Originality/value: This study is a development of previous research that examines separately the effect of Environmental, Social, and Governance (ESG) disclosure and intellectual capital on firm value. This study also adds financial performance variables with Return on Assets measurement as a moderating variable.

Pengaruh Struktur Modal, Likuiditas, dan Ukuran Perusahaan Terhadap Kinerja Keuangan Perusahaan

The main objective of the analysis is to evaluate the impact of capital structure (DER), liquidity (CR), and the company’s size (Total Asset) on financial performance (ROE). The methodology that is used is a quantitative one. The population consists of an industrial sub-sector company that is listed for 2019-2022 on the Indonesian Stock Exchange (BEI). Purposive sampling is the approach that was utilized to establish the sample criteria. Over the course of four years, 19 samples in all were chosen, and 76 data were collected. Researchers employ coefficients, F tests, Hausmant tests, Chow tests, and descriptive statistical tests while analyzing data. Regression analysis with panel data is one of the analytical methods employed. The Fixed Effect Model was derived from the Chow and Hausmant Test results. The statistical F test result was 0.000000 < 0.05, so the independent variables of the capital structure, liquidity, and the company size simultaneously had a significant influence on the dependent variable of financial performance. The coefficient test results showed that capital structure significantly positive improve the financial performances variable.

The Influence of The Principles of Good Corporate Governance, Corporate Social Responsibility, and Financial Literacy on The Financial Performance of Village Credit Institutions In The Negara District of Jembrana

This research aims to analyze the influence of good corporate governance, corporate social responsibility, and financial literacy on financial performance in Village Credit Institutions in Negara District, Jembrana Regency. There are 3 independent variables and 1 dependent variable. GCG, CSR, and financial literacy variables are included in the dependent variables and the financial performance variables are included in the dependent variable. To answer the problem formulation, quantitative analysis was used using an instrument in the form of a questionnaire. In this research, the SPSS 25 application was used to analyze these variables. Based on the result of the analysis, it can be concluded that: 1. GCG variables partially have a significant effect on financial performance (0.017<0.05) 2. The CSR variable partially has a significant effect on financial performance (0.000<0.05) 3. The financial literacy variable partially does not have a significant effect on financial performance (0.338 > 0.05) 4. GCG, CSR and financial literacy variables simultaneously influence financial performance (0.000<0.05).

Does Financial Performance Mediate the Relationship between Corporate Governance and Corporate Value? Evidence from Indonesian Banking Companies

The banking sector has the potential to progress and grow sustainably. This is reflected in the increase in the value of distributed funds and the value of commercial bank assets. However, this increase was not in line with the increase in company value. Therefore, companies must be able to optimize their resources to increase corporate value. This study aims to analyze and explain the factors that can affect corporate value. The variables used in this research are corporate governance as an independent variable, financial performance as a mediating variable, and corporate value as a dependent variable. The type of research used is explanatory research with a quantitative approach. The samples for this research were Bank Rakyat Indonesia (BBRI), Bank Mandiri (BMRI), Bank Negara Indonesia (BBNI), and Bank Tabungan Negara (BBTN). The data analysis was done using descriptive statistical analysis and partial least squares (PLS) analysis which is processed using SmartPLS software. The results of this research indicate that corporate governance has a negative and insignificant effect on corporate value. Furthermore, corporate governance variables also had a negative and insignificant effect on financial performance. Apart from that the results also show that the financial performance variable is not able to mediate the relationship between corporate governance and corporate value significantly. The practical implication of this research was to encourage banking management in Indonesia to implement good corporate governance as it can boost financial performance.
 Keywords: banking, corporate governance, corporate value, financial performance

Understanding the Impact of Intellectual Capital on Financial Performance and Its Impact on Firm Value: A Literature Review

This research aims to find out whether intellectual capital can influence financial performance, thereby, impacting company value using the journal review method. Research journals containing the variables of intellectual capital, financial performance, and company value were used. The results of the research show that there is a relationship between intellectual capital and financial performance and its influence on company value through three components contained in intellectual capital: human capital efficiency (HCE), structural capital efficiency (SCE), and capital efficiency used (CEE), including physical and financial capital. The contribution of intellectual capital to company performance will vary from one industry to another. Industries that rely on creativity and innovation will require a higher level of intellectual capital. The results of this research conclude that the existence of intellectual capital within the company is an important company asset. Companies that can manage their intellectual capital effectively will have better financial performance and higher company value. Intellectual capital can influence financial performance and company value.
 Keywords: intellectual capital, financial performance, company value

Pengaruh Kinerja Keuangan Perusahaan, Reputasi Auditor Terhadap Opini Audit “Going Concern” Dengan Ukuran Perusahaan Sebagai Moderasi (Studi Pada Perusahaan Manufaktur Yang Terdaftar Bei Tahun 2019 – 2021)

This research aims to explore the correlation between financial performance, company size, and auditor reputation and going concern audit opinion. Sampling was carried out using a purposive sampling method, where the population that met certain criteria was selected as the sample. The object of this research is going concern audit opinion which is influenced by the company's financial performance, company size and auditor reputation. The research population consisted of 204 manufacturing companies listed on the Indonesia Stock Exchange (BEI) during the 2019-2021 period. The research results show that the company's financial performance and auditor reputation have a negative influence on going concern audit opinion. Meanwhile, company size can significantly moderate the influence of financial performance variables on going concern audit opinion. This research confirms the application of agency theory in the context of the relationship between company size, financial performance, and auditor reputation and going concern audit opinion. Keywords: Going Concern; Company Financial Performance; Auditor Reputation; Company Size

Examining the bonus mechanisms’ role in real earnings management dynamics in an Indonesian manufacturing company

Real Earnings Management (REM) and financial success may have different relationships depending on how managers act. Bonus mechanisms are a significant factor that influences management behavior. The study seeks to examine the impact of bonus systems on the correlation between financial performance and REM practices in manufacturing companies in Indonesia. Moderated Regression Analysis (MRA) is employed to evaluate the influence of bonus mechanisms in moderating the association of financial performance on REM. The technique of purposive sampling was used to pick the sample. The study utilized data from manufacturing firms listed on the Indonesian Stock Exchange from 2017 to 2021, including a total of 400 observed data points. The research findings demonstrate that sales growth is the sole factor that significantly influences REM in manufacturing organizations, as indicated by a p-value below 10%. Other financial performance factors, on the other hand, with p-values for each variable above 10%, have not been shown to have a significant impact on REM. These factors include ROA, leverage, operating cash flow, and cash. The findings also demonstrate that, with a p-value for each variable above 10%, the bonus mechanism is a variable that modifies the effect of all financial performance variables on REM.