Manufacturing Subsectors Research Articles

Integrated Sustainability Assessment Framework of Industry 4.0 from an Energy Systems Thinking Perspective: Bibliometric Analysis and Systematic Literature Review

Sustainable energy systems based on efficiency, low-carbon, and smart technologies are essential for the future energy transition. A new integrated sustainability assessment framework (ISAF) is required to evaluate cross-cutting subjects and future research. Sustainability analysis based on conventional dimensions and complementary categories is needed for a digital energy transition. Industry 4.0 created a new platform and technological portfolio to improve the efficiency and automation of cleaner energy systems (lower environmental and social impacts and high performance). To address these aspects, a new methodology based on bibliometric analysis, systematic literature review, and energy systems thinking was developed. From Scopus and Web of Science databases, 1521 and 959 documents were respectively compiled and merged to select 181 articles related to these research subjects between 2017 and 2021. Out of this total, 62 articles from industrial manufacturing were identified as the most representative energy consumption sub-sector. These articles were analysed from the ISAF using conventional dimensions (environmental, economic, and social) and complementary categories of sustainability (technological innovation, governance and life cycle). The main findings reveal that worldwide studies addressing the nexus between Industry 4.0, Energy and Sustainability have increased significantly in recent years, primaly in high-income countries. These studies have centred on the industrial manufacturing subsector, assessing sustainability unevenly by focusing mainly on technological and environmental issues. Research gaps indicate that a comprehensive assessment of social, governance, and life cycle aspects is still required.

The Effect of Financial Distress and Corporate Social Responsibility on Tax Avoidance (Case Study of Manufacturing Companies in the Pharmaceutical Sub-Sector Listed on the Indonesia Stock Exchange for the years 2017-2021 Period)

This study aims to examine the effect of financial distress and corporate social responsibility on tax avoidance in the pharmaceutical manufacturing subsector during the period of 2017-2021. The population of this study consists of pharmaceutical manufacturing companies. The research methodology employed is quantitative. The data used for this study were obtained from the website www.idx.co.id and annual reports that have been audited for each year, accessible through the official websites of the respective companies. Data collection was conducted using purposive sampling, with a total sample size of 30 data points over a 5-year observation period. The collected data were analyzed using SPSS version 25 for Windows. The results of the analysis indicate that the variable of financial distress does not have a significant effect on tax avoidance, while the variable of corporate social responsibility has a negative effect on tax avoidance.

Analisis Faktor-Faktor yang Mempengaruhi Likuiditas Pasar Saham

The objective of this study is to obtain valid evidence regarding the individual effects of the variables Firm Value, earnings management, and stock risk on stock market liquidity. Stock Liquidity, Earning Management, Firm Value, and Stock Risk are measured respectively by Total Volume Activity, discretionary accrual model modified Jones, PBV, and Beta. Research in the form of causality. Samples were selected using a purposive technique. The data is extracted from the company's annual financial reports accessed from official sources. The samples were 16 companies from the infrastructure sub-sector manufacturing group listed on the IDX during the 2017-2021 period, so that 80 observation data were obtained. Multiple regression is used for data analysis, where the tests include multicollinearity tests, partial-t tests and coefficient of determination tests. The findings of this study show that Earning Management, Firm Value, and Stock Risk affect Stock Market Liquidity

Effect of Liquidity and Return on Capital on Profitability

The researchers undertook the study to examine the influence of the Current Ratio and Debt-to-Equity Ratio on the Net Profit Margins of Cigarette Sub Sector Manufacturing Companies that are listed on the Indonesia Stock Exchange during the period spanning from 2016 to 2020. The study utilized a descriptive verification methodology. The study employed a statistical methodology of multiple linear regression analysis, utilizing the IBM SPSS Statistics 25.0 software program for Windows. The research employed a sample of 20 financial statements procured from the cigarette sub-sector manufacturing firms listed on the Indonesian stock exchange between the years 2016 and 2020. The present study's results indicate that the Current Ratio and Debt-to-Equity Ratio of cigarette sub-sector manufacturing firms enlisted on the Indonesia stock exchange between 2016 and 2020 significantly impact Net Profit Margin.

Pengaruh Rasio Keuangan bagi Perubahan Laba pada Perusahaan Manufaktur Sub Sektor Farmasi Teregistrasi BEI Periode 2019-2021


 The aim of the research is to provide a more specific and relevant understanding of the influence of financial ratios on profit changes in the context of registered Pharmaceutical Sub-Sector Manufacturing Companies in the period 2019-2021. The financial ratios measured include CR (Current Ratio), DER (Debt-to-Equity Ratio), TATO (Total Asset Turnover), and NPM (Net Profit Margin). The research follows a quantitative method. The population consists of all pharmaceutical sub-sector manufacturing companies (11 companies). A sample of 8 companies was selected using purposive sampling method. The sample selection criteria were (a) registered on the Indonesia Stock Exchange in the period 2019-2021; (b) having complete financial statements as required. The data used are secondary data, namely annual financial reports sourced from the Indonesia Stock Exchange website. The data were analyzed using descriptive statistics, classical assumptions, multiple linear regression test, F-test, t-test, and R-square test. The research findings are as follows: (1) CR has a significant positive impact on profit changes with a significance level of 0.02 (sig<0.05); (2) DER has a significant positive impact on profit changes with a significance level of 0.01 (sig<0.05); (3) TATO has a significant positive impact on profit changes with a significance level of 0.01 (sig<0.05); (4) NPM has a significant positive impact on profit changes with a significance level of 0.03 (sig<0.05); (5) CR, DER, TATO, NPM simultaneously have a significant positive impact on profit changes with a significance level of 0.01 (sig=0.01<0.05).
 Keywords: financial ratios, profit changes, pharmaceutical companise

Pengaruh Likuiditas Terhadap Profitabilitas Pada Perusahaan Manufaktur Sub Sektor Tekstil Dan Garmen Yang Terdaftar Di Bursa Efek Indonesia

The background of this research is the inconsistency in previous research which has different research results. The purpose of this study, in addition to strengthening previous research, is also to determine the effect of Liquidity (Current Ratio and Quick Ratio) on Profitability (Return On Assets) in Textile and Garment Sub-Sector Manufacturing companies listed on the Indonesia Stock Exchange with a research period of 6 years, from 2016-2021. The population in this study is 22 companies which are included in the Textile and Garment Sub Sector Manufacturing companies which are listed on the Indonesia Stock Exchange for the 2016-2021 period. The sample selection technique used in this study was a purposive sampling method using certain criteria and assessments in order to obtain a sample of 5 companies. In this study, the data analysis method used includes descriptive analysis, panel data regression test and model testing. Data were obtained from financial reports taken on the idx.co.id website or the company's website, then processed using Eviews 12. The results of this study partially show that Current Ratio (CR) has a significant and significant effect on Return On Assets (ROA), Quick Ratio has no effect and is not significant to Return On Assets (ROA). Meanwhile, simultaneously Current Ratio (CR) and Quick Ratio (QR) have a significant effect on Return On Assets (ROA).

The Effect Of Der, Company Size, And Roe On The Firm Value Of Manufacturing Companies In The Automotive Sub-Sector And Its Components

The purpose of this study was to determine and analyze the effect of DER, company size, and ROE on the company value of Automotive Sub-Sector Manufacturing Companies and their Components both partially and simultaneously. The research methodology uses an associative descriptive approach that explains the influence between the independent variable and the dependent variable. The data analysis technique uses Eviews tools with a total research sample of 11 Automotive and Component Subsector Manufacturing Companies with 5 years of observation time. The results of the DER tcount value of -0.008287 with a significance value of 0.0001 <0.05 mean that DER has a negative and significant effect on PBV in automotive companies listed on the IDX. The tcount value of total assets is 4.526332 with a significance value of 0.0002 <0.05, meaning that total assets have a positive and significant effect on PBV in automotive companies listed on the IDX. The tcount value of ROE is -4.239893 with a significance value of 0.0004 <0.05, meaning that ROE has a negative and significant effect on PBV in automotive companies listed on the IDX. The F value is 0.436104 and the significance level is 15.89043. Judging from the significance value, the value is 0.000013 <0.05. This means that DER, total assets, and ROE simultaneously have a significant effect on PBV.

Research on Beijing Manufacturing Green-Oriented Transition Path under “Double Carbon” Goal-Based on the GML-SD Model

Accelerating the “double carbon” transformation of the manufacturing industry is the key to achieving the strategic goal of “double carbon” in China, among which the low-carbon development of the Beijing manufacturing industry is the top priority. To achieve high-quality development of the manufacturing industry in Beijing, the main task is to reduce carbon emissions and improve efficiency. Therefore, on the basis of the Global Malmquist–Luenberger (GML) index and the system dynamics (SD) method, this study analyzes the green total-factor energy efficiency trends of 25 manufacturing sub-sectors in Beijing from 2006 to 2020 and incorporates the GML index as a key variable into the construction of the SD model. It then explores the path optimization of Beijing’s manufacturing low-carbon development in the 14th Five-Year Plan period via scenario simulation and offers policy recommendations for the green-oriented transition of Beijing’s manufacturing industry. The study finds that Beijing’s manufacturing industry needs to prioritize energy structure optimization and efficient energy utilization and give full play to the city’s advantages in technological innovation and investment while supporting high-end scientific research and innovation projects to confirm the capital city’s strategic position.

Leveraging Software Automation to Transform the Manufacturing Industry

The manufacturing industry is undergoing a paradigm shift driven by advancements in software automation technologies. This paper explores the transformative impact of leveraging software automation on various facets of the manufacturing sector. As industries strive for increased efficiency, cost-effectiveness, and agility, the integration of automation solutions has emerged as a key strategy.
 The paper begins by providing an overview of the current landscape of the manufacturing industry, highlighting the challenges faced in terms of manual processes, operational bottlenecks, and the need for enhanced productivity. It then delves into the role of software automation in addressing these challenges, showcasing how technologies such as robotic process automation (RPA), artificial intelligence (AI), and industrial IoT are revolutionizing traditional manufacturing workflows.
 Furthermore, the discussion covers the benefits of software automation in optimizing production processes, reducing errors, and enhancing overall quality. Real-world case studies and examples illustrate successful implementations of automation across diverse manufacturing sub-sectors, showcasing the tangible advantages experienced by companies that have embraced this transformative approach.
 The paper also explores the implications of software automation on the workforce, emphasizing the need for upskilling and reskilling initiatives to ensure a smooth transition to an automated manufacturing environment. It addresses concerns related to job displacement and emphasizes the potential for creating new roles that harness the strengths of human-machine collaboration.
 In addition, the paper discusses the impact of software automation on supply chain management, emphasizing how it contributes to improved demand forecasting, inventory management, and logistics optimization. The resulting supply chain efficiencies contribute to a more resilient and responsive manufacturing ecosystem.
 The conclusion of the paper summarizes key findings and outlines future prospects for the continued integration of software automation in the manufacturing industry. As technology continues to advance, embracing automation becomes not only a strategic imperative but also a means to foster innovation, sustainability, and competitiveness in an evolving global marketplace.

Pengaruh Risiko Bisnis, Struktur Aset, Dan Pertumbuhan Penjualan Terhadap Struktur Modal Perusahaan Manufaktur Sektor Barang Konsumsi Yang Terdaftar Bei Tahun 2016-2021

The era of globalization has brought significantly increased economic competitiveness. Companies are required to continue to develop their business. Determining the capital structure is very important for every company. Capital structure decisions can influence the assessment of a company's financial capability by knowing the aspects that can affect a company's capital structure. The purpose of this research was conducted to examine the effect of business risk, asset structure, and sales growth on the company's capital structure partially and simultaneously. The population used in this study is a consumer goods sub-sector manufacturing company listed on the Indonesia Stock Exchange from 2016 to 2021. The sampling technique used purposive sampling, in order to obtain 25 companies that were used as samples in the research. The data analysis technique used in this research is multiple regression analysis. Based on the results of this research, it is known partially that business risk has a significant negative effect on the company's capital structure, while asset structure and sales growth have a significant positive effect on the company's capital structure. Simultaneously, business risk, asset structure, and sales developments influence the company's capital structure.
 
 Keywords: Capital Structure, Business Risk, Asset Structure, Sales Growth, Manufacturing Company.

Determinants Of Financial Performance To Stock Return

This study aims to examine the effect of return on assets (X1), return on equity (X2), and earnings per share (X3) on stock returns (Y) in automotive sub-sector manufacturing companies listed on the Indonesia Stock Exchange for the 2016-2021 period.The population used in this study is a manufacturing company in the automotive sub-sector. This study uses saturated sampling (Census) with a total sample of 7 companies.The data analysis technique in this study uses descriptive analysis, classical assumption analysis, multiple linear regression analysis, with hypothesis testing using -t test and F test.The results of the study show that: (1) partially the return on asset (X1) variable has a positive and significant effect on stock returns. (2) partially the return on equity variable (X2) has a negative and significant effect on stock returns. (3) partially the earning per share (X3) variable has no positive and insignificant effect on stock returns. (4) Simultaneously, the return on assets (X1), return on equity (X2) and earnings per share (X3) variables have a positive and significant effect on stock returns.

Desindustrialização setorial e estagnação de longo prazo do setor manufatureiro brasileiro

ABSTRACT In Brazil and elsewhere in the world, diagnoses of deindustrialization are concentrated in aggregate manufacturing, so policies can be ineffective if deindustrialization has a sector-specific component. This study quantifies and analyses deindustrialization for the individualised manufacturing sub-sectors. To do this, unpublished series of the manufacturing sub-sectors’ share in the Brazilian GDP from 1970 to 2016 were created, based on official IBGE data. The results show that the manufacturing sub-sectors have deindustrialised at different intensities and periods of aggregate manufacturing, and a sub-sectoral approach reveals traces ignored by the literature on the quality of deindustrialization. We conclude that the Brazilian deindustrialization is normal (and expected) for the labour-intensive manufacturing sub-sectors, but premature (and undesirable) for the technology-intensive sub-sectors. Therefore, Brazilian deindustrialization has negative consequences for the country’s future scientific and technological development.

Effect of Cash, Receivables, and Inventory Turnover on Net Profit Margin (NPM) in Food & Beverage Subsector Manufacturing Companies

Abstract This study focused on the influence of cash turnover, receivables turnover, and inventory turnover against the Net Profit Margin (NPM), showing the inequality of the results of previous studies. Therefore, this research investigates whether that inequality is associated with cash turnover, receivables turnover, and supply turnover against NPM, which becomes the focus of this study. The research used the data obtained from food and beverage manufacturing subsectors in the Southeast Asian Stock Exchange between 2012 and 2018. This study applied purposive sampling of 11 companies that provided a complete financial report, acquiring 77 samples. The statistical analyses used were multiple linear regression, partial testing, and simultaneous testing. The results of this study indicated that cash turnover and receivables turnover had no significant influence on the NPM, while the supply turnover had a significant influence on NPM. The results of the simulta-neous study of cash turnover, the turnover of receivables, and inventory turnover have a signif-icant rate of 0.010 < 0.05. It can be concluded that cash turnover, turnover receivables, and inventory rotation significantly influence the NPM.

Evaluating Green Efficiency of Manufacture Sector and Its Determinants in East Java Province

East Java is one of the provinces in Indonesia that carries out intensive development in the industrial sector to improve the welfare of its society. However, massive industrial activity will pose its challenges, such as increased emissions and environmental degradation. This study aims to determine the manufacturing sub-sector that produces CO2 emissions and has the lowest green efficiency as well as its determinant variables. There are three stages of analysis applied in this research i.e. carbon emission measurement, Slack Based Measurement-Data Envelopment Analysis (SBM-DEA), and Tobit regression. The study use 5-digit manufacturing subsector data based on the International Standard Industrial Classification (ISIC) system, obtained from the Indonesian Central Agency of Statistics (BPS) which is deflated against the East Java Regional Gross Domestic Product (GRDP) deflator with 2010 as the base year. The results of the analysis show that in general, the manufacturing subsector in East Java produces quite high CO2 emissions of 85.28 tons. The subsector with the highest average CO2 emissions in East Java in 2017 was the fertilizer industry, in 2018 the non-ferrous base metal manufacturing industry, and in 2019 the steel rolling industry. Then, the drying industry and tobacco depreciation became the sub-sector with the lowest average green efficiency in East Java Province in 2017. Meanwhile, in 2018 it was the milling industry of various nuts (including Leguminous) and in 2019 it was the coffee processing industry. The Tobit regression results show that the energy structure and industrial concentration have no significant effect on the green efficiency value of the manufacturing subsector. Meanwhile, spending on R&D has a significant negative effect on green efficiency. Therefore, the recommendations given are encourage the use of environmentally friendly raw materials and fuels, increasing green innovation, and increasing consumer awareness regarding environmental issues.

Effect Of Return On Equity, Debt To Asset Ratio, And Inflation Rate On The Value Of The Company

The approach in this study is in the form of quantitative descriptive research, and this type of research is included in the category of explanatory research. This study aims to determine the effect of return on equity, debt to asset ratio, and inflation rate on company value in Consumer Goods Sub-Sector Manufacturing Sector Companies listed on the Indonesia Stock Exchange.The sample of research in this study was 21 companies. The research period is from 2018 to 2021. The research methods used in this study are descriptive statistical tests, classical assumption tests, multiple regression tests, and hypothesis tests. The results showed that: 1) return on equity did not have a significant effect on the value of the company in the Consumer Goods Sub-Sector Manufacturing Sector Company; 2) Debt to Asset Ratio has a significant effect on the value of the company in the Consumer Goods Sub-Sector Manufacturing Sector Company; 3) inflation has an insignificant effect on the value of companies in the Manufacturing Sector of the Consumer Goods Sub-Sector; 4) simultaneously Return On Equity (ROE), Debt to Asset Ratio (DAR) and Inflation together have no significant effect on stock prices, this suggests that the hypothesis is not proven.

The Influence of Good Corporate Governance on Company Value in Food and Beverage Subsector Manufacturing Companies Listed on the Stock Exchange for the 2017-2021 Period

The Influence of Good Corporate Governance on Company Value in Food and Beverage Subsector Manufacturing Companies Listed on the Stock Exchange for the 2017-2021 Period

Pengaruh Return On Asset, Sales Growth, Dan Financial Lease Terhadap Tax Avoidance (Studi Pada Perusahaan Manufaktur Sub Sektor Otomotif Yang Terdaftar Di BEI)

As the largest source of state revenue, government always seek to optimize tax revenue. However, on the other hand, taxpayers also trying to do tax planning to minimize their tax obligation. As example, several manufacturing companies applied tax planning schemes in the form of tax avoidance so as not to violate tax laws but able to minimize their tax. This research aims to analyse the factors that affect the tax avoidance including return on asset, sales growth, and financial lease in automotive manufacturing sub-sector listed in Indonesia Stock Exchange in 2010-2016 period. For the research method, this research uses quantitative method approach and the sampling technique used is purposive sampling technique. The sample in this research uses 30 manufacturing companies within 7 years period to obtain as many as 84 data. For data analysis, this research uses panel data regression approach using EViews 9.0 software. The study shows that return on asset, sales growth and financial lease have the influence to do tax avoidance practice of 25.774% and the other 74.226% is influenced by other variable outside this study. The analysis result shows that return on asset, sales growth and financial lease simultaneously influenced manufacturing companies to do tax avoidance. Partially, return on asset affects the manufacturing companies to do tax avoidance, while sales growth and financial lease does not.
 Keywords: Return On Asset, Sales Growth, Financial Lease, Tax Avoidance

Nexus Among ICT Support for Core Competencies, Competitive Advantage and Firm Performance: A Managerial Phenomenology Approach

This study analysed the nexus among ICT support for core competencies, competitive advantage and firm performance using data obtained from managers of firms in Harare, Zimbabwe. The qualitative phenomenological approach focused on the manufacturing and service sub-sectors that informed the analysis. The study used purposive sampling to select a sample of 10 participants, five business managers and five ICT experts. In-depth interviews with chosen ICT experts from business organisations in Harare, Zimbabwe, were conducted to gather qualitative data. The study's findings were from using within-case and cross-case qualitative data analysis. Key results from the study indicate that ICT support for management talent is perceived to impact business performance and competitive advantage positively. ICT support for core competencies gives businesses a competitive advantage that positively impacts operational performance. When ICT investments combine with ICT management skills, a company's value maximises. For ICT-enabled core competencies to influence firm performance, firms need complementary managerial and strategic capabilities. This study is distinctive because it addresses the dynamic organisational capabilities and resource-based perspective as the base theories. The methodology goes against the innovation adoption theories of comparable earlier studies on ICT acceptability. Thus, this study contributes to the growing body of ICT literature by demonstrating that ICT-enabled core competencies are insufficient to establish and maintain a competitive advantage and singularly influence firm performance. It made it even more essential for a firm to consider how to meet better customer needs and capture value by having a well-thought-out ICT-embedded business model, business strategy, and innovation alignment

The Effect of Management of Receivables, Payables and Inventories on Manufacturing Companies of The Pharmaceutical Sub Sector Listed on The Indonesia Stock Exchange Period 2017 – 2021

The aim of this study is to identify how receivables turnover (RTO), payable turnover (PTO), and inventory turnover (ITO) affect profitability by using return on equity (ROE) as the measurement. The samples used in this study were pharmaceutical sub-sector manufacturing companies, that were listed on the Indonesian Stock Exchange for the 2017-2021 period. The independent variables used in this study are RTO, PTO, and ITO, while the dependent variable is return on equity (ROE). The analytical method used is the multiple linear regression model. The result of this study shows that RTO partially affects ROE, while PTO does not, and ITO fully does. Meanwhile, RTO, PTO, and ITO simultaneously affect ROE.

Pengaruh Profitabilitas Dan Ukuran Perusahaan Terhadap Struktur Modal Pada Perusahaan Manufaktur Subsektor Farmasi Di Bursa Efek Indonesia Tahun 2017-2019

This study aims to determine the effect of profitability by using the calculation of return on assets and firm size by using the calculation of firm size on the capital structure by using the calculation of debt to equity ratio in manufacturing companies in the pharmaceutical sub-sector on the Indonesia Stock Exchange in 2017-2019. Meanwhile, the sample to be tested is in accordance with the research criteria that have been determined and the sampling technique is purposive sampling, and the companies that meet the sampling criteria are 8 companies. The data used in this study are secondary data from the annual financial statements of pharmaceutical companies listed on the Indonesia Stock Exchange for the period 2017-2019 which were obtained from www.idx.co.id. The data management method uses multiple linear regression analysis with the help of SPPS 23 analysis tool. The results show that the profitability variable (return on assets) has a significant effect on the capital structure, while the firm size variable does not have a significant effect on the company's capital structure. pharmaceutical manufacturing sub-sector on the Indonesia Stock Exchange in 2017-2019.