Financial Cash Flow Research Articles

Analysis of cash flow from operating activities, cash flow from investing activities, cash flow from financing activities, gross profit margin, and earnings per share on the stock price

Our research aims to analyze whether operating cash flow, investment cash flow, financing cash flow, Gross Profit Margin, and Earnings Per Share have an impact on stock prices. Our research falls under quantitative research. The sampling was conducted using purposive sampling, resulting in 19 companies that fit the category. The hypothesis was tested using multiple linear regression. The research findings present various results. Therefore, the conclusion from the research is that operating cash flow and investment cash flow have a significant and insignificant impact on the stock prices of food and beverage companies, while financing cash flow, Gross Profit Margin, and Earnings Per Share do not have a significant impact on the stock prices of food and beverage companies.

Tax Variances and Financial Performance of Deposit Money Banks Multinational Companies in Nigeria

The study examined the effect of tax variance and financial performance of deposit money banks multinational companies in Nigeria. It specifically examined the effect of book tax difference on return of asset of deposit money banks, it also examined the effect of effective tax rate on return of asset of deposit money banks in Nigeria .Ex-post facto research design was employed through secondary data to establish the relationship between dependent variable (Return on Asset) and independent variables (Book tax differences and effective tax rate) The population of this study covers all the 14 deposit money banks listed on the Nigeria Exchange Group as at 31 st December, 2020. The study used census sampling to cover all the 14 deposit money banks. Data on all the explained and explanatory variables were extracted from the published financial statements of the 14 deposit money banks for the period of 2006-2020 with 90 observations. Data were analyzed using Panel data which consist on correlation, multiple regression were used to analyze the data. The study found that book tax difference has positive and significant effect on return on asset of deposit money banks while effective tax rate was negative and insignificant on return of asset of listed deposit money banks. Consequent on the findings, the study concluded that tax variance has significant effect on financial performance of listed deposit money banks in Nigeria. The study recommends amongst others that policy makers, accounting standards developers and industry regulators can utilize the study findings to develop an insight on industry effect of book tax difference for ease of bankruptcy prediction from financing cash flow deficiency.

DOES GREEN FINANCE SUPPORT TO REDUCE THE INVESTMENT SENSITIVITY OF ENVIRONMENTAL FIRMS?

This study aims to examine the financing cash flow sensitivity into the firm investment of Environment Sensitive Firms (ESFs). To improve the robustness of our analysis, we implement cluster regression to analyze the 300- firms listed on Shenzhen Stock Exchange. The findings of this study indicate that high-ESFs have more financing cash flow volatility in firm investment than low-ESFs. The firms can reduce this volatility by integrating green finance with their financing cash flows. Green finance helps to implement sustainable investment practices and reduces investment volatility by providing the solution to societal issues. It also assists to generate stable cash flows, lower investment risk, and a better governance structure.

The Influence of Operating Cash Flows, Investments Cash Flow, and Funding Cash Flow on the Company Value in Technology Sector

Investors use the company value as one of the benchmarks in investing the capital since the value is generated from the share price with the basis of the company performance and the public assessment on that performance. The company value can be measured by Price Earning Ratio (PER), Price Book Value (PBV), and Tobin's Q. Price Book Value is selected in this research as its measurement. The research subjects were technology-based companies listed in the Indonesian stock exchange. From the data obtained, it was indicated that there were fluctuations in the value of technology-based companies. This is a dilemma for both the companies and the investors on the grounds that not only the management but also the investors expect the company value to consistently increase. The research sample were 28 companies that met the criteria, within the periods of 2019-2022. The method used was quantitative research with multiple regression analysis as its analytical tool. The results indicated that the operating cash flow, the investment cash flow, and the financing cash flow have no effects on the firm value.

Pengaruh Arus Kas, Laba, Arus Kas Investasi, Arus Kas Operasi dan Arus Kas Pendanaan (Literature Review Manajemen Keuangan)

An investor in investing always expects high stock returns. Therefore, investors must be able to assess which companies have good performance. Stock returns are a matter of great concern to investors considering the level of profit that investors will enjoy from their investments. Financial reports, especially those related to information on changes in cash flows, accounting profit, investment cash flows, funding flows and operating cash flows are important information that investors can use to assess company performance. This study aims to determine whether the information for investors to make investment decisions is reflected in the stock returns to be obtained. This study is also intended to determine which performance measures have the most significant influence on stock returns. Information that is often used by investors in considering investment decisions in increasing stock returns is net income, cash flow, funding and operating cash flow. Writing this article aims to build a hypothesis of the influence between variables to be used in further research. This article discusses the effect of stocks on cash flow, accounting profit, operating cash flow, investment cash flow and funding cash flow, an introductory literature study on financial management.

Pengaruh Arus Kas Operasi, Arus Kas Investasi, Arus Kas Pendanaan dan Laba Akuntansi terhadap Return Saham

The capital market is a place where investors invest their capital in the hope of a return in the form of a return on investment. Investors use financial reports in investing but cannot analyze the stock returns that will be received starting operating cash flow, investment cash flow, and funding cash flow. The method used is a quantitative method with multiple linear regression tests using the eviews data processing application. The results of this study. The coefficient X1 (cooperative cash flow) is 0.170479413211 which means that if the cooperative's cash flow increases, it will cause an increase in stock returns with no positive effect with a significant value of 0.7170 > 0.05. The coefficient X2 (Investment Cash Flow) on stock returns (the dependent variable Y) has no effect with a significant value of 0.3113 > 0.05. The X3 coefficient (Funding Cash Flow) on stock returns (Y dependent variable) has no effect 0.6658 > 0.05 and the X4 coefficient (Accounting Profit) is 0.352300 which means that if accounting profit increases once it will cause an increase in Stock Return (dependent variable Y) or has a positive effect of 0.964377644814 when other variables are constant with a significant value of 0.000 <0.05.

Pengaruh Komponen Arus Kas dan Laba Kotor terhadap Harga Saham (Studi Kasus pada Perusahaan Manufaktur Sub Sektor Otomotif dan Komponen di Bursa Efek Indonesia Tahun 2013-2017)

The purpose of this study was to analyze the effect of cash flow components and gross profit on stock prices. The population in this study is the automotive sub-sector and components listed on the Indonesia Stock Exchange (IDX) in the 2013-2017 period. The sampling method used is the purpose sampling method with a sample of 8 companies for 5 consecutive years of observation so that the total sample is 40. The method of analysis in this study uses multiple linear regression. The results of this study indicate that operating cash flow and gross profit have no significant effect on stock prices. Meanwhile, investment cash flow and financing cash flow have a significant effect on stock prices. Meanwhile the cash flow components (operations, investment, funding and gross profit) have a simultaneous effect on stock prices.

The Effect of Stock Selection Ability, Market-Timing Ability, and Fund Cash Flow on the Performance of Sharia Equity Mutual Funds (Study During the Covid-19 Pandemic, 2020-2021)

Abstract: The Coronavirus pandemic has had an extraordinary impact on the economies of countries in the world, including Indonesia. This economic condition was reflected in the collapse of the stock market index in Indonesia. Mutual funds are an investment alternative that has convenience for investors who want to invest but need more investment skills and time. Islamic stock mutual funds are one of the choices in investing because Sharia values guide their management. The performance of Islamic equity mutual funds during the Covid-19 pandemic has declined; the number of Islamic equity mutual funds looks stagnant, while the NAV value has fallen. This study aimed to test the effect of stock selection ability, market-timing ability, and fund cash flow on the performance of Islamic equity mutual funds during the Covid-19 pandemic. The population in this study is all Islamic equity mutual funds traded during the 2020-2021 period. The sampling technique in this study used purposive sampling. The samples obtained were 39 Sharia equity mutual funds that reported monthly NAV on the OJK website. The data were tested using regression with the help of Eviews software version 12. The results of this study indicate that stock selection ability, market-timing ability, and fund cash flow partially have a positive and significant effect on the performance of Islamic equity mutual funds. Abstrak: Pandemi Coronavirus berdampak luar biasa bagi perekonomian negara-negara di dunia termasuk Indonesia. Kondisi ekonomi tersebut tercermin pada runtuhnya IHSG pasar modal di Indonesia. Reksa dana merupakan salah satu alternatif investasi yang memiliki kemudahan bagi para investor yang ingin berinvestasi tetapi memilliki keterbatasan keahlian investasi dan waktu. Reksa dana saham syariah dijadikan salah satu pilihan dalam berinvestasi dikarenakan pengelolaannya yang berpedoman pada nilai-nilai syariah. Kinerja reksa dana saham syariah pada masa pandemi covid-19 terlihat menurun, jumlah reksa dana saham syariah terlihat stagnan sedangkan nilai NABnya turun. Tujuan penelitian ini untuk menguji menguji pengaruh stock selection ability, market timing ability, dan fund cash flow terhadap kinerja reksa dana saham syariah pada masa pandemi covid-19. Populasi dalam penelitian ini adalah seluruh reksa dana saham syariah yang diperdagangkan selama periode 2020-2021. Teknik pengambilan sampel pada penelitian ini menggunakan purposive sampling. Sampel yang diperoleh sebanyak 39 reksa dana saham syariah yang melaporakan NAB bulanan di website OJK. Data diuji dengan menggunakan regresi dengan bantuan software Eviews versi 12. Hasil penelitian ini menunjukkan bahwa stock selection ability, market timing ability, dan fund cash flow secara parsial berpengaruh positif dan signifikan terhadap terhadap kinerja reksa dana saham syariah.

LOAN DEMAND DURING THE COVID-19 PANDEMIC

We analyze the effect of the COVID-19 outbreak on the demand for new loans across a nationally representative sample of over 10,000 firms in 45 countries. Loan demand decreases in response to the COVID-19 outbreak; however, this effect is heterogeneous across firms and countries. Small firms increase the demand for new loans whereas firms in economically more developed countries with better institutions make less loan applications following the start of the pandemic. Small firms face higher rejection rates resulting in less reliance on bank loans as a source of financing cash flow shortages. The implications of these findings together with future research directions are discussed.

Is Marriage a Turning Point? Evidence from Cash Holdings Behaviour

AbstractGiven that marriage transforms people, with wide‐ranging and long‐lasting impacts, we examine the role of CEOs' marital status on firms' cash holdings behaviour. Using a large sample of US‐listed firms, we find that single CEOs stockpile more cash than their married counterparts do. Our finding is robust to controlling for various CEO characteristics, CFO influence, tackling endogeneity concerns and using alternative measures of cash. Moreover, we show that exogenous CEO turnover resulting in appointments of single (married) CEOs increases (decreases) cash holdings. Additional results show that single‐CEO firms practise a more conservative payout policy and save more cash from operating and financing cash flows. Consistent with agency theory, single CEOs extract more compensation from the accumulated cash, leading to a lower value of cash holdings. External corporate governance mechanisms mitigate the relationship between single CEOs and cash holdings. Our results show that single‐CEO firms are more prone to agency problems.

Analisis Kinerja Reksa Dana

The purpose of this research is to determine the effect of fund cash cash flow, fund size, fund age, and expense ratio variables on mutual fund performance. The population in this research is stock mutual fund products that are recorded and supervised by the OJK in 2019-2020. This research method is quantitative. The sample determination technique used purposive sampling, and produced 25 samples. The analysis technique in this study used multiple linear regression in SPSS software. The results showed that the calculated F test = 22.812 and a significance value (Sig.) = 0.000 <0.05. In conclusion, there is influence between the variables of fund cash flow, fund size, fund age, and expense ratio on the performance of mutual funds.
 Keywords: Expense Ratio, Fund Age, Fund Cash Flow, Fund Size, Mutual Fund Performance

Pengaruh Arus Kas Operasi, Arus Kas Investasi, Arus Kas Pendanaan Dan Laba Akuntansi Terhadap Return Saham (Studi Kasus Pada Perusahaan Manufaktur Sektor Industri Barang Konsumsi Sub Sektor Makanan Dan Minuman Periode 2015-2019)

This Study aims to test partially and simultaneously the effect of operating cash flow, investments cash flow, financing cash flow, and accounting profit on stock returns in the food and beverage sub-sector consumer goods industry companies 2015-2019. The type of data used in this research is secondary data. The sampling technique in this research is purposive sampling.while the data analysis used is descriptive statistics and multiple regression with the help of the SPSS 16 for windows program.Based on the results of this study, it can be concluded that operating cash flow and investment cash flow have no effect on stock returns which are partially tested (t test). Funding cash flow and accounting profit affect stock returns which are partially tested (t test). While the simultaneous testing (jointly) concludes that there is a joint (simultaneous) influence between operating cash flow, investment cash flow, financing cash flow and accounting profit on stock returns. Test of the coefficient of determination (adjusted r square) of 0,309, it means that 30,9 % of the independent variables consist of operating cash flow, investment cash flow, financing cash flow and accounting profit to the dependent variable, namely stock returns. While 69,10 % is influenced by other variables which are not included in this study.

Information on Cash Flow Statements and Stock Return

This research aims to test and analyze information from the cash flow statement on the share return. The cash flow intended is from operating, financing, and investing activities. Meanwhile, the shares utilized belong to the infrastructure, utility, and telecommunication companies listed on the Indonesian capital market between 2018 and 2021. Because this study uses the change in three cash flows, the secondary data from 2017 to 2021 based on the firm annual reports and the stock price at the end of these years are employed. Additionally, the t-statistics and their probability provided by a multiple regression model to statistically examine the hypotheses proposed are applied. Finally, this study concludes that the higher the cash flow from investing activities, the higher the stock return. However, the positive change in the financing cash flow tends to reduce this return. Meanwhile, this return is not affected by the cash flow from operating activities.

Assessing an Islamic Bank's Cash Flow

The cash flow statement is made up of three parts: operating, investing, and financing cash flows. The objective of this study is to determine the progress of cash flows as observed via changes or comparisons of cash flows at PT. Sharia Aceh Bank. The method adopted is a quantitative descriptive method, in which existing data from the bank's annual reports from 2017 through 2021 is collected and reviewed. The findings reveal that PT. Bank Aceh Syariah has fluctuating cash flow but is still able to maintain positive cash flow on average.

Benchmarking private equity: The direct alpha method

We propose a simple and intuitive measure of the annualized excess return of investments in private equity (PE) funds, as well as in similar vehicles that hold hard-to-value assets. Our ‘Direct Alpha’ method is well-founded in theory and dominates the existing approaches to convert fund lifetime returns into inputs amenable for portfolio-wide optimization. Existing Public Market Equivalent (PME) approaches are either heuristic or involve significant approximation errors. Using real-world PE fund cash flow data, we juxtapose Direct Alpha against nearly all PME methods that have been in broad use.

Pengaruh Laba Bersih, Komponen Arus Kas, Ukuran Perusahaan terhadap Harga Saham Perusahaan Perbankan pada Masa Pandemi Covid-19

This study aims to determine the effect of Net Profit, Cash Flow Components, and Firm Size on stock price of banking companies during the Pandemic Covid-19 (Case Study at conventional banks listed on the Indonesia Stock Exchange for 2020-2021). The data used in this study is panel data sourced from financial statements published by the Indonesia Stock Exchange (IDX) during the 2020-2021 period. The population in this study was a conventional bank for the 2020-2021 period, with the sampling method was purposive sampling so that the number of samples was 29 banks. The analysis method used is multiple linear regression analysis. Data management uses the IBM SPSS Statistics program 25. The results of this study indicate that Net Profit, Operating Cash Flow, Investment Cash Flow, Funding Cash Flow, and Firm Size simultaneously effect on stock prices; Net Profit partially has a positive and significant effect on stock prices; Operating cash flow, Investment Cash Flow, Funding Cash Flow and Firm Size partially have no effect on stock prices.

Peningkatan Kualitas Prinsip Manajemen Perusahaan Perkebunan Yang Terdaftar Di Bursa Efek Indonesia Melalui Laporan Arus Kas Terhadap Return Saham

One of the economic indicators in a country is the capital market. Indonesia is one of the countries where the capital market is developing, this is proven by the number of companies listing in the capital market. One of the advantages of capital market activities is stock returns. Stock Return is the income earned by investors for investing funds in the form of shares. This study aims to determine how the effect of cash flow statements on stock returns. As for the object of scrutiny is PT. Astra Agro Lestari Tbk, PT. London Sumatra Indonesia Tbk, PT. Jaya Agra Wattie Tbk. In this study, the indicators used by the authors are cash flow statements from operational activities, investment activities and financing activities. The results showed that partially and simultaneously there is an influence between cash flow on stock returns. Based on the results of research conducted with the t-test, the results obtained that the value of tcount > ttable so that it shows there is an influence between the independent variables on the dependent variable, for the r-test shows that the operational cash flow variable has a moderate effect, the investment cash flow variable has a moderate influence. very low and the funding cash flow variable has a low influence on stock returns. Meanwhile, for the f test, the results obtained that the value of Fcount > Ftable so that it shows that there is an influence between the independent variables on the dependent variable. And for the R2 test, the results obtained are 44% (0.444 x 100%).

Fundamental Factors, Economic Value Added, and Other Factors Determining Stock Return

The purpose of this research is to obtain empirical evidence about the effect of operating cash flow, investing cash flow, financing cash flow, market to book ratio, earnings per share, price earnings ratio, economic value added and market value added on stock return. The population used in this research are non-financial companies listed in Indonesia Stock Exchange from 2018 to 2020. The sample used for this research consists of 143 listed non-financial companies. The sampling technique used purposive sampling method and analyzed using multiple regression method. The result of this research shows market to book ratio has positive effect toward stock return, add the other independent variables such as operating cash flow, investing cash flow, financing cash flow, earnings per share, price earnings ratio, economic value added and market value added have no effect toward stock return.

Pengaruh Return Saham Terhadap Kepemilikan Institusional Sebagai Variabel Moderating Pada Perusahaan Manufaktur Terdaftar Di BEI

The study aims to examine the influence of return on assets, operating cash flow, financing cash flow, investment cash flow, economic value added, residual income, market value added, debt to equity ratio, to return stock with institusional ownership as a moderating variable. The population in this study is a manufacturing company in Indonesia Stock Exchange period of 2015 – 2019. By using purposive sampling method, the sample number 52 manufacturing company with 208 observations. By using multiple regression analysis, the results showed simultaneously or synchronously (test F) return on assets, operating cash flow, financing cash flow, investment cash flow, eonomic value added, residual income, market value added, debt to equity ratio positive and significant effect on return stock. Partially return on assets and cash flow funding positive and significant impact on the return of shares, while operating cash flow, investment cash flow, economic value added, residual income, market value added, and debt to equity ratio has no significant effect on return stock. Test results residual indicate that institusional ownership is not able to moderate the influence of return on assets, operating cash flow, financing cash flow, investment cash flow, economic value added, residual income, market value added, and debt to equity ratio on return stock to manufacturing company in Indonesia Stock Excahnge 2015 – 2019.

Pengaruh Perubahan Arus Kas dan Profitabilitas Terhadap Return Saham Sebelum dan Selama Pandemi Covid-19 (Studi Pada Sektor Transportasi dan Logistik Yang Terdaftar Di Bei Periode 2017-2020)

This study intend to determine the effect of changes in cash flow and profitability on stock returns in transportation and logistics sector companies listed on the Indonesia Stock Exchange for the 2017-2020 period. This research method is a quantitative method with the data source used is a documentary in the form of the company's financial statements. The data analysis method used descriptive statistical analysis, classical assumption test, multiple regression analysis, and hypothesis testing. Based on the test results, operating cash flow, investment cash flow, funding cash flow, return on assets, return on equity, and earnings per share simultaneously have an effect on stock returns. Investment cash flow partially has a negative and significant effect on stock returns. Return on equity has a positive and significant effect on stock returns, while operating cash flow, funding cash flow, return on assets, and earnings per share have no partial effect on stock returns.