Financial Liquidity Ratio Research Articles

ANALISIS KINERJA KEUANGAN PADA PERUSAHAAN PT MUSTIKA RATU TBK. BERDASARKAN ANALISIS RASIO LIKUIDITAS, SOLVABILITAS, DAN RENTABILITAS

This study is intended to determine the financial performance of PT Mustika Ratu Tbk. by analyzing financial data through financial ratios of liquidity, solvency and profitability. The data analyzed are company financial statements which include Balance Sheet, Profit / Loss, Cash Flow PT Mustika Ratu Tbk. 2015 to 2017. This research is a quantitative research, processed data, namely financial report data of PT Mustika Ratu Tbk. taken through data on the Indonesia Stock Exchange. Financial data taken is annual reports from 2015 to 2017. Analysis of this data uses liquidity ratios, solvency ratios, profitability ratios.

The Role and Impact of Merger & Acquisition of Banking Sector in Pakistan

Authors: Kishwar Ali, School of Finance, Zhongnan University of Economics & Law, Wuhan, China Atta Ullah, School of management, Huazhong University of Science and Technology, Wuhan China Pages: 113-121 DOI: http://doi.org/10.21272/fmir.3(3).113-121.2019 Download: Views: Downloads: 40 54 Abstract The paper summarizes the arguments and counterarguments in the scientific discussion on determining the effects of mergers and acquisitions for banking institutions. The purpose of this article is to conduct an empirical study to identify the nature of the impact of mergers and acquisitions on Pakistan’s financial sector performance. The research in the article is carried out in the following logical sequence: a thorough literature review on the analysis of key aspects of mergers and acquisitions and their impact on the financial and economic performance of banks before and after their practical implementation; the historical basis of the experience of mergers and acquisitions caused by various economic factors, such as: GDP growth, interest rates on loans, monetary policy; financial analysis of bank profitability, solvency and liquidity indicators before and after the merger and acquisition was conducted. Five commercial banks of Pakistan that were involved in the merger and acquisition processes were selected as the subject of study. The study period is presented before and after the merger and includes two years before the acquisition report and two years after the acquisition announcement by analysis of financial ratios of liquidity, solvency and profitability. The results of empirical and theoretical research have shown that there is a positive relationship between merger and acquisition processes and liquidity ratios of banking institutions; and – the negative impact of such processes on banks’ profitability and solvency in the short term. The author states that the main limitation of the study is the unavailability of financial data until 2006 and the use of a small sample size and a low likelihood of data collection technique, which is limited by a certain type of people and lack of generalization. Keywords: merger, acquisition, bank, solvency risk, liquidity, profitability.

Porównanie wskaźników płynności finansowej polskich i czeskich przedsiębiorstw przetwórstwa przemysłowego w podziale na mikro-, małe, średnie i duże podmioty gospodarcze

The publication presents the development of financial liquidity ratios (current and increased) in the Polish and Czech industrial processing sectors for micro, small, medium and large business entities. The analyses are based on the financial data of companies taken from the Amadeus database for the years 2006–2014. In all of the groups of enterprises analysed in both countries, an increase in the liquidity ratios occurred. The mean values of the indicators were significantly more volatile than the median among all groups of companies. Large entities reported the lowest values of both indicators, both in Poland and in the Czech Republic.

Analisis Komparatif Laporan Arus Kas Dalam Menilai Tingkat Likuiditas Pada PT Indosat Tbk. Periode 2009 – 2014 (Studi Empiris Pada Perusahaan Telekomunikasi Yang Terdaftar Di BEI)

Companies have to publish cash flow statement in annual reporting because cash flow information as analyses tool of company performance for information users. The aim of this research is to find out and to evaluate the level of financial liquidity ratio, to reveal the role of cash flow information in measuring financial performance of PT. Indosat Tbk. PT Indosat Tbk. is a telecommunication company listed in Indonesian Stock Exchange (IDX) yang merupakan perusahaan telekomunikasi yang terdaftar di Bursa Efek Indonesia. The data used is primary data like company’s financial statement. Data collection procedure used is literature review namely data collecting method from various information sources associated with cash flow statement analyses and financial statement analyses. The research results show that financial cash flow liquidity ratio of PT. Indosat Tbk. quite good and stable from 2009-2014. However, in 2009 ratio below the limit (dissatisfactory).

Performance Evaluation of UK Acquiring Companies in the Pre and Post-Acquisitions Periods

This paper has two objectives: first, it examines the financial performance of twenty UK based acquiring companies over the period of five years (2009-2013) using financial ratios of Liquidity, Profitability and Solvency in order to empirically determine whether there is any significant financial performance changes in the operation of the underlying companies as a result of acquisitions. Both average ratio and paired t-test analysis have been conducted. The analysis concludes that none of the ratios proved statistical significance which shows that the underlying acquisitions did not influence changes in the financial performance of the acquiring companies. The paper also examines whether shareholders make short-term gain while opting for acquisitions by analyzing stocks return over 58 days window period i.e. 29 days prior to acquisition announcement and 29 days after acquisition announcement by applying CAPM model and AAR and CAAR analysis. The analysis concludes that none of the results show statistical significance which further asserts that UK shareholders do not make gain in the short-term as a result of the acquisition activities they have undertaken.

Расчет финансовых коэффициентов ликвидности и рентабельности по отчетности, составленной по МСФО

Расчет финансовых коэффициентов ликвидности и рентабельности по отчетности, составленной по МСФО

Kinerja Koperasi Peternak Sapi Bandung Utara Lembang, Jawa Barat

At this moment, cooperative growth has experienced a very rapid development, which can be seen from the increasing number of diverse cooperative effort in Indonesia, especially in West Java. The ever-increasing needs of milk, added by milk production that has not met the needs of people in West Java makes a fierce competition among Cattle Ranchers Cooperative to produce milk. One of Cooperatives runs in this field is Cattle Ranchers Cooperative of North Bandung. The purpose of this study is (1) to analyze and evaluate management performance of KPSBU in West Java, (2) to analyze the level of liquidity, solvency, and profitability of KPSBU in West Java, (3) to develop business development strategy of KPSBU in West Java. The study used a descriptive survey approach, using primary and secondary data, as well as ratio analysis techniques (1) liquidity, (2) solvency, (3) profitability. Business development strategy will be prepared based on the analysis of the SWOT method and QSPM. Based on the analysis QSPM KPSBU has several strengths, weaknesses, opportunities, and threats. The most powerful force possessed KPSBU is quality fresh dairy products and its main drawback is the marketing of products less than the maximum, while the factors that affect the greatest opportunity is cooperation with local and international companies and the biggest threat is the bad weather which disrupted production and milk quality. Therefore, Cattle Ranchers Cooperative of North Bandung needs to make improvements on internal factors. It also reinforced by the value of the financial ratios of liquidity, solvency, and profitability that indicates that the company does not have a good value to pay a long-term and short-term debt as well as to generate profits in the company. Thus, Cattle Ranchers Cooperative of North Bandung must continue to strive to maintain and repair the service quality attribute and keeping customer satisfaction levels continue to rise.

INCOME PER BED AS A DETERMINANT OF HOSPITAL’S FINANCIAL LIQUIDITY

Hospitals’ financial condition is very important, in terms of availability and quality of inpatient health care services. Inpatient’s services consume, in Poland, an important part (about 50%) of National Health Fund resources, but financial situation of hospitals is difficult and many hospitals report problems with liquidity and solvency. The purpose of this research is to study the relationship between the intensity of care, measured by the annual income per bed, and the static liquidity ratios (current ratio and quick ratio). The research has been conducted on the sample of 138 Polish hospitals, using data covering the period 2009-2011. In order to test research hypotheses, statistical tools have been used (T-Student distribution). The study has shown, that, during analyzed period, liquidity ratios have lowered and the level of financial liquidity is, in case of Polish hospitals, lower than recommended in the literature. The authors also confirmed the existence of the relationship between annual income per bed and liquidity ratios. However, the most important finding is that the relationship between the hospital’s income per bed and financial liquidity ratios is positive only up to a certain level, which has been estimated at about 60,000-70,000 EUR per bed. Above this level further increase in income per bed decreases liquidity ratios. This finding seems to be extremely important for health care managers, which usually strive for the income maximization. Key words: hospital, financial liquidity, financial management, CR, QR.

ANALISIS MODEL PREDIKSI PEMERINGKATAN OBLIGASI SYARIAH PERUSAHAAN DENGAN PENDEKATAN RASIO KEUANGAN DI BURSA EFEK INDONESIA

This study aimed to determine whether financial ratio was a predictor to predict future bond ratings, and which one was significant. This study concentrates on techniques to predict bond ratings. Bond rating is important because these rankings provide an informative statement and provide a signal about the probability of default of a company's debt. The Islamic bond companies listed in Indonesia Stock Exchange (IDX) and assessed by rating agencies PEFINDO in 2009- 2011 were used to answer the research question. Leverage (LTLTA), liquidity (CaCl), solvency (CFOTL), profitability (OIS), and productivity (STA) were used as variable of financial ratio. This study examined the financial ratios that can establish sharia bond rating prediction model using discriminant analysis (MDA). The results were : (1) there were different level of Islamic bond in financial ratios of liquidity (CaCl), solvency (CFOTL), profitability (OIS), and productivity (STA); (2) financial ratios, that could form the prediction model of Islamic bonds ranking, were CaCl , OIS , STA, (3) the accuracy level of the formed model were 94.3%.

The influence of the selected factors on the financial liquidity of the enterprises quoted on the NewConnect market

The influence of the selected factors on the financial liquidity of the enterprises quoted on the NewConnect market It is for evaluation of the financial liquidity that financial liquidity ratios are applied; in particular the current ratio, which is a relation of current assets to current liabilities. However, this indicator does not provide wide interpretative possibilities in synthetic terms. It is a structural system, which is called „a pyramid of indicators”, that provides much greater interpretative possibilities and allows for determining. The purpose of this article is to present a proposal of a system of factors shaping the financial liquidity and to examine the strength and the influence direction of these factors on the financial liquidity of the companies quoted on the NewConnect stock exchange and ranked among construction companies. It is in order to accomplish this objective that the correlation analysis and the linear regression methods were applied.It results from the analysis of the correlation coefficient that the directions of changes of the financial liquidity and of the turnover of the current liabilities as well as of the financial liquidity and of the structure of the sources of financing the assets were significantly similar (harmonized). However, there was no linear correlation between the financial liquidity and the structure of assets as well as between the financial liquidity and the indicator of financing the sales revenue with external capital. The regression model created on the example of the enterprises belonging to the construction industry showed that the most important factor shaping the level of the financial liquidity is the share of the current assets in the total assets (X1). It is from the point of view of the β ratio that the structure of sources of financing assets (X4) is the most essential for the financial liquidity.

Analisa Rasio Keuangan Likuiditas, Profitabilitas dan Solvabilitas Terhadap Kebijakan Pembayaran Dividen Penyertaan

The purpose of this study is to find out the effect of the company’s performance to the welfare of shareholders by way of measuring the level of the company’s financial ratio expected having influence toward the dividend level yielded.
 Based on the result of the study, the liquidity of PT Estika Yasakelola can be said has not satisfied yet because, observed from current ratio and quick ratio, PT Estika Yasakelola has found it difficult to pay short term debt that has been due date. Viewed in general, the profitability percentage has not been satisfactory as well. It’s due to the percentage of net profit margin is too low, with the result that income left to cover the operational cost is too small. To improve the performance of of the company, PT Estika Yasakelola has to work more efficiently. The company must seek to improve cost efficiency by lowering cost items or increasing product selling price without reducing the competitiveness of the company. The description of solvency ratio fluctuation above reflects that the stability increase of the company in managing its dect is due to outstanding credit decrease caused by on time credit payment and because of the company keep continue to expand with its own fund.
 The result of this research shows that the company should improve its performance more, work more efficiently, reduce cost items or increase product selling price so that the company will be able to reduce operational costs. PT Estika yasakelola must be able to manage the fund, so that the company’s profit increases more and more and the company will be able to survive unwaveringly. The management must be able to maintain the sharekolders’ trust. Therefore, the level of shareholders’ welfare can be guaranteed.
 
 Keywords: analysis of financial liquidity ratio; profitability, and solvency

Financial Ratio Analysis for Developing Nursing Management Strategies in University Hospitals

Purpose: The purpose of this study was to analysis the financial statements of university hospitals and to apply the results to build nursing management strategies. Methods: Data on the financial statements of university hospitals were collected each hospital's homepage or internet search from February to June, 2010. Financial statements of 11 hospitals were analyzed using the 4 categories of financial ratio analysis method: liquidity, performant, growth and turnover. Results: Overall results showed that the financial status the university hospitals were unstable, and many financial indicators did not meet financial standard ratios. Only 8 financial indicators of total 19 indicators satisfied financial standard ratios. Conclusion: The results of financial statements analysis suggest that nurse managers should develop the blue ocean strategy for diversification of nursing services to improve financial ratios of liquidity, performance, and growth. Using a unit-based just-in-time system for effective supply management would help to increase profits and to decrease costs of hospital by improving financial ratios of turnover.

Analisis Kinerja Keuangan Sebagai Dasar Investor Dalam Menanamkan Modal Pada PT. Bukit Asam,TBK (Study Kasus pada PT. Bukit Asam,TBK)

Researchers conducted the study on PT. Bukit Asam Tbk, a company engaged in coal. In running the business of PT. Bukit Asam Tbk facing problems in measuring the achievements of the company based on the financial ratios of liquidity, solvency, activity and profitability. Over the last three years ie during the years 2009-2011. Rumussn problem is: whether the financial performance affects investor in menananmkan mdal on PT.Bukit Acid, Tbk? The purpose of this study the researchers did was to analyze the performance of keuanagn as the investor base to invest in PT.Bukit Acid, Tbk. Based on the analysis conducted by the authors, financial performance PT.Bukit Acid, Tbk terms of the ratio of liquidity, solvency, activity and profitability over the last three years increased. Suggestions submitted by the author is to maintain and improve the companys financial performance PT.Bukit Asam Tbk enable companies to more forward.

To Standardize or Not to Standardize Financial Liquidity Ratios? The Answer Using Financial Liquidity Efficiency of Investment Model (FLEIM)

There is a myth about standardized financial ratios. It is believed that Current Ratio should be near to 1,5; Quick Ratio should be higher than 1; Cash Ratio should be no smaller than 0,7. Paper shows other perspective of the problem using financial liquidity efficiency of investment model (FLEIM) and Polish data for key financial liquidity indicators. Market situation influence enterprise ability to generate value for its owners depending on kind of business and individual enterprise flexibility and risk sensitivity. Enterprise financial liquidity management can reduce risk influence on enterprise results. The paper, presents the consequences that can result from operating risk that is related to liquidity policy in the context of enterprises. An increase in the level of liquid assets in an enterprise increases both net working capital requirements and the costs of holding and managing financial liquidity. Both of these decrease the value of the enterprise. But not always it works in the same way, it depends on risk sensitivity of the business which differ between branches and individual representatives from each branch. Case study data presents and is an material for discussion about general model presented in first part of the paper. The relation between liquid levels and risk sensitivity is also illustrated by empirical data from Polish firms.

Financial liquidity of the horticultural enterprise PPO Siechnice in Poland

One of the key issues in evaluating the financial condition of a company is the analysis of assets in relation to the due indebtedness, i.e. short-term obligations. Liquidity ratios calculated in such a manner help in the drawing of conclusions on the liquidity of the enterprise and its ability to pay its short-term liabilities. This paper examines the financial liquidity in 2005-2007 of a horticultural enterprise, producing and selling food, based on information available in the balance sheet, income statement, and the cash flow statement, as published in the company's financial reports. The company was selected using the following criteria: location in Lower Silesia, Poland, in a municipal-rural commune, and operating in the agricultural-food sector. The study was based on business books of the examined company. The economic analysis involved mainly the financial liquidity ratios. Additionally, descriptive and comparative methods were used to characterize and interpret the results. The results of the study show that the company had a good financial situation and had no problems with payment of current obligations without waiting for accounts receivable or de-stocking. Additionally, liquidity analysis based on transfers from its operating activity showed that the obligations of the examined company could be covered by money obtained during its operating activities.

Classifying Construction Contractors Using Unsupervised-Learning Neural Networks

Contractor prequalification involves the screening of contractors by a project owner to determine their competence to complete the project on time, within budget, and to expected quality standards. The process of prequalification involves a large number of contractors, each being represented by many attributes. A neural network model was applied to aid in the prequalification process by classifying contractors into groups based on similarity in performance using the financial ratios of liquidity, activity, profitability, and leverage. Contractors are represented in this model by patterns in four-dimensional space. Patterns of similar performance tend to form clusters intercepting regions of low pattern density in between. A neuron with weights is used as a classifier to set a decision boundary between clusters. The method basically iterates the neuron weights to move the decision boundary to a place of low pattern density. Then, the statistical hypothesis testing of the mean difference of two independent samples was used to validate the classification of the parent class to the two child classes considering the four ratios separately. The method was used hierarchically to classify a group of 245 contractors into classes of small numbers. Finally, the inferred procedure of classification proves that the neural network model classified the four-dimension pattern representing contractors efficiently.