Natural Logarithm Of Total Assets Research Articles

Determinant of Audit Delays: An Empirical Analysis of Manufacturing Companies on the Indonesia Stock Exchange

The purpose of this study is to obtain direct details about how the impact of audit opinion, audit committee, company size, and solvency on audit delay. This research was conducted on manufacturing companies listed on the Indonesia Stock Exchange (IDX) for the 2020-2023 period. The sample in this study was obtained using the purposive sampling method, which is a sampling technique based on certain criteria. Based on the predetermined criteria, a sample of 459 samples was obtained. This study uses SPSS tools with the logistic regression analysis method, this study uses secondary data, namely data obtained from the annual financial statements of manufacturing companies accessed on the Indonesia Stock Exchange website. Audit opinion measurement uses dummy variables using code 1 for companies that get an unqualified opinion, and code 0 for other than an unqualified opinion. The audit committee is measured by comparing the number of commissioners with the number of audit committees in a company. Company size is measured by the natural logarithm of total assets and solvency is measured by dividing total debt by total assets of a company. The results of this study identify that the audit committee affects audit delay and company size was also identified as affecting audit delay in manufacturing companies listed on the Indonesia Stock Exchange (IDX) in 2020-2022. Meanwhile, audit opinion is identified that this variable does not affect audit delay, and solvency is also identified as not affecting audit delay in companies listed on the Indonesia Stock Exchange (IDX) in 2020-2022.

THE IMPACT OF THE INFLUENCE OF PROFITABILITY, COMPANY SIZE, AND LEVERAGES ON TAX AVOIDANCE

The research aims to empirically test the influence of profitability, company size, and leverage on tax avoidance. The independent variables are profitability with the Net Profit Margin, firm size with the natural logarithm of total assets, leverage with debt to equity ratio and the dependent variable uses tax avoidance with the Effective Tax Rate minus the Cash Effective Tax Rate. The samples tested in the research were the substance of the property and real estate subsector listed on the IDX for the 2019 to 2021 period. There are financial reports for 17 entities, with 51 data assessed as meeting the criteria. The research method uses descriptive statistical tests, which then perform classical tests of hypotheses, including normality, heteroskedasticity, multicollinearity, and autocorrelation. In addition, the hypothesis regarding the influence of the independent variable on the dependent variable is tested. This test uses F-test statistics (simultaneous), T-test (partial), and coefficient of determination, which are then continued in the study using multiple regression analysis. Based on the subtest results, it was found that profitability and debt have significantly favorable effects on tax avoidance and that firm size has no effect on tax avoidance.

EXPLORING INVESTOR'S DECISIONS IN ESTIMATING THE EFFECT OF EARNING PERSISTENCE, FINANCIAL LEVERAGE, FOREIGN OWNERSHIP ON COMPANY REPUTATION AND VALUE IN NIGERIA

This study evaluates the effect of exploring investors decisions in estimating the effect of earning persistence, financial leverage, foreign ownership on company reputation and value We used multiple regression models on secondary data obtained from the annual and accounts of sampled consumer firms listed in Nigeria Stock Exchange spanning for ten (10) year from 2012-2021. The findings revealed that earnings before interest and tax (EBIT) and market capitalization (MCAP) are positively correlated though not significant at P- value. On the other hand, it can be deduced that the sensitivity of market capitalization to the control variable asset tangibility (at) is statistically positive and insignificant at P-value = 0.502 also but that has a positive and significant effect on financial leverage. It was documented that there exist perfect relationships between asset tangibility, financial leverage and natural logarithm of total assets connoting presence of colinearity. It is easily adjusted using colinearity diagnostics given the non-existence of both lagged values and dummy variables. The implication of the finding revealed that earnings before interest and tax (EBIT) and market capitalization (MCAP) are positive and can be used in predicting the movement of predictors variables regarding regressand; financial leverage, earnings before interest and tax and foreign ownership of consumer firms in Nigeria. The study hereby recommends that: consumer firms should not rely on debt financing but as well lay hand on the other means of increasing its working capital, thus; internal finance, general reserve etc. Above all, there will be collaborate between the firm and foreign partnership to improve financial performance, they should also focus on increasing wealth of the firm ensuring that the firms investors have their return on investment as when due.. Finally, firm management should adjust its administrative expense in order to increase profit for the year to encourage prospective investors. KEY WORDS: Return on investment, earnings and growth, foreign investors and profitability

The Influence of Profitability, Liquidity, Leverage and Company Size on Dividend Policy

Several food and beverage companies experienced a decrease and increase in the nominal dividend distribution to investors. This research aims to analyze the influence of profitability, liquidity, leverage and company size on dividend policy in food and beverage sub-sector companies listed on the IDX for the 2018-2021 period. The method used is panel data regression analysis obtained from Ordinary Least Square estimation using a fixed effect modelling approach. Profitability is measured by Return on assets (ROA), liquidity by Current Ratio (CR), leverage by Debt-to-Equity Ratio (DER), company size by the natural logarithm of total assets, and dividend policy by Dividend Pay-out Ratio (DPR). The research results show that profitability has a positive effect on dividend policy. Meanwhile, liquidity, leverage and company size have no effect on dividend policy.

Does Tax Avoidance Affect Company Values in Indonesia in 2020 – 2022?

This research aims to prove whether the decreasing trend in tax avoidance can increase company value and vice versa. Company value as a dependent variable is proxied using Tobin’s Q formula, tax avoidance as an independent variable is proxied using the GAAP ETR formula, and firm size as a moderating variable is proxied using the natural logarithm of total assets. The type of data used is secondary archival data in the form of financial report data of non-financial companies for the period 2020 to 2022 that are listed on the Indonesia Stock Exchange. The sample obtained was 705 financial reports and the data was then analyzed using structured equation modeling. The results of the research show that tax avoidance has a significant positive effect on the company value of energy sector companies from 2020 to 2022 at an error rate of 5%, and firm size can moderate tax avoidance so that it has a significant negative effect on the company value of basic material sector companies from 2020 to 2022 at an error rate of 10%.

DOES CLIENT IMPORTANCE AFFECT AUDIT QUALITY IN MODERATION?

The financial report is a report that is very necessary in making decisions. For this reason, a quality audit is needed that can truly explain the condition of the company. Good audit quality can provide the right information for its users, while poor audit quality can cause many losses, both internal and external. The purpose of this research is to examine the influence of audit tenure, audit committee, and public accounting firm industry specialization on audit quality with client importance as a moderator. The data in this research uses secondary data obtained from the 2019 to 2021 financial reports listed on the Indonesia Stock Exchange using the purposive sampling method and using the SPSS program in data processing. The independent variables in this research are audit tenure, audit committee, and public accounting firm industry specialization. Audit tenure is calculated based on the number of years of engagement, the first year is given the number 1 and 1 is added for the following years. The audit committee is calculated based on the number of audit committee members. Public accounting firm industry specialization is calculated based on the number of companies audited by the same auditor divided by the number of companies, and if the result is more than 20% it is given the number 1, otherwise it is given the number 0. The dependent variable in this research is audit quality which is given the number 1 for the Big Four and 0 for the Non-Big Four, and the moderating variable is client importance which is calculated by the natural logarithm of total assets divided by the natural logarithm of total assets audited by the same auditor. This research uses logistic regression analysis in data processing because the independent variable indicators are dichotomous. The results of this research are that audit tenure affects audit quality, audit committees have an effect on audit quality, and public accounting firm industry specialization has no effect on audit quality. Client importance as moderation also cannot influence audit tenure, audit committee, and public accounting firm industry specialization on audit quality.

Corporate Tax Aggressiveness Influenced by CSR and Financial Ratios

The purpose of this study is to investigate and analyze the relationship between corporate social responsibility, leverage, and company size and tax aggressiveness. Using the GRI-4 indicator with 91 items, the research examines corporate social responsibility as an independent variable. The debt-to-asset ratio is used to evaluate leverage, whereas the natural logarithm of total assets is utilized to evaluate the magnitude of a company. In this study, the dependent variable is tax aggressiveness, as measured by the Effective Tax Ratio (ETR). The annual reports of manufacturing companies listed on the Indonesia Stock Exchange (IDX) between 2016 and 2020 were analyzed for this study. Types of research this is quantitative research. The sample selection procedure utilized a method of purposive sampling, yielding a total sample population of 157 businesses. However, only 54 businesses fulfilled the inclusion requirements for the study. The collected data was analyzed using version 26 of the SPSS software. According to the study's findings, corporate social responsibility has a substantial effect on tax aggressiveness. The study found no positive or statistically significant effects of leverage or company size on tax aggressiveness.

The Impact of Intellectual Capital on Earnings Management in the Industrial Companies Listed on Amman Stock Exchange

This study aimed to find out the impact of intellectual capital on the management of profits of industrial companies in the Jordanian business environment, according to this basic objective, data were collected from 56 manufacturing companies listed on the Amman Stock Exchange (ASE) during the period from 2013 to 2019. The number of total views used in the analysis reached (359) views, during the entire study period. The study relied on the intellectual value-added coefficient to measure the impact of the independent variable, the intellectual capital with its three components (human capital, structural capital, and capital employed). Also, profit management was measured by the absolute value of estimated benefits by using the modified Jones model. In addition, the two control variables were measured: (the size of the company as measured by the natural logarithm of total assets, and the ratio of indebtedness through total debt to total assets). The study used the method of multiple regression analysis in the statistical program (E-views) to test the study hypotheses, and the results showed that earnings management was significantly influenced by intellectual capital. Specifically, it turned out that earnings management was negatively affected by the components of intellectual capital (human, structural and capital employed). Based on the results, the researchers recommend that companies pay more attention to employees by increasing bonuses and salaries, which improves the efficiency of their performance and increases profitability, as well as providing a rational investment environment of high quality, which in turn achieves high profits on the long term. Therefore, undesirable practices such as profit management and others disappear, and finally, working to educate users of financial statements about the risks of high indebtedness which may prompt management to take some management practices that may negatively reflect on their investment decisions.

Impact of Board of Directors on Funds Raising: Evidence for Green Bonds

The present paper attempts to reveal influence of characteristic features of the board of directors (BD) on fund raising using green bonds. The research involved a sample of 87 public companies which issued green bonds in 2021. We analyzed influence of such factors as the proportion of women and independent directors on the BD, CEO duality and the numberof the BD members by the share of green bonds in the total debt of the company. The share of debt in the assets, the natural logarithm of total assets (company size) and return on equity (ROE) were used as control variables.
 The logarithmic specification of the classical linear regression model was chosen as the optimal one. So, heteroscedasticity, autocorrelation and multicollinearity were not detected in the model with the dependent variable logarithm (the share of green bonds in the total debt). The least squares method (LSM) was applied to evaluate this model. As long as the initial sample of companies which issued green bonds in 2021 comprises both financial and non-financial companies we verified the validity of the obtained results for two types of companies. Assessment of the optimal model for two subsamples of financial and non-financial companies yielded results somewhat different from the ones obtained from analysis of the total sample. Evaluation of the regression for financial and non-financial companies showed a reduction in significance of influence exerted by women’s representation and the size of the BD. However, in case of non-financial companies the significance of such factor as presence of the sustainable development committee increases. According to the obtained results the companies with the CSR committee attract relatively larger financing using green bonds.

The Effect of Green Accounting and Firm Size on Bank Performance with Firm Growth as a Moderation Variable

Banking plays a very important and strategic role in supporting national economic development so that banks need to maintain their performance in order to operate optimally. This study aims to obtain empirical evidence regarding the effect of Green Accounting and Firm Size on Bank Performance with Firm Growth as a moderating variable. The population in this study are banking companies listed on the Indonesia Stock Exchange (IDX) for 2019-2021 and consistently publishing their annual reports and sustainability reports on the Indonesian Stock Exchange website. The samples used in this study were 37 out of 40 companies that met the criteria. The sampling technique used is purposive sampling method. Data analysis used in this study using multiple linear regression analysis with the EViews software. The results of this study indicate that the green accounting variable as measured by the green banking index has a negative effect on bank performance. Meanwhile, the firm size variable as measured by the natural logarithm of total assets has a positive effect on bank performance. The moderating variable, namely firm growth as measured by asset growth, weakens the relationship between green accounting and firm size on bank Performance.

THE ROLE OF FIRM SIZE, PRICE EARNING RATIO AND PROFITABILITY TO IDIOSYNCRATIC VOLATILITY: EVIDENCE FROM BANKING INDUSTRY IN INDONESIA

This study analyzes the effect of company size, price earnings ratio, and profitability on idiosyncratic volatility in state-owned banks listed on the Indonesia Stock Exchange in the period from 2011 to 2020, We use multiple regression analysis to tested the hypothesis. Firm size was measured by the natural logarithm of total assets, price earnings ratio by the comparison between market price and earnings per share, and profitability by return on equity. Idiosyncratic volatility is the fluctuation of stock price results form company specific information, measured by market regression model. Results show that size of the company, price earnings ratio and profitability have a negative and significant effect on idiosyncratic volatility. The increase of company size, price earnings ratio and profitability, consequently will lower the idiosyncratic volatility. From theoretical perspective, the finding of this research complied with three theories: valuation theory, prospect theory and life cycle theory whereas from managerial perspective, the business can effectively manage its assets and equity while carrying out its activities, resulting in strong fundamentals that may lower the amount of idiosyncratic risk.

THE EFFECT OF FINANCIAL CONDITIONS AND COMPANY SIZE ON THE GOING CONCERN AUDIT OPINION

This study aims to analyze the effect of financial condition and company size on going concern audit opinion. For the measurement proxy, the independent variable of the study, namely the company's financial condition, is measured by the Revised Altman Z-Score Model, while for company size it is measured by the natural logarithm of total assets. As for the dependent variable of the study, namely the going concern audit opinion measured by a dummy variable based on the financial statements presented by the company in accordance with the disclosure of a going concern audit opinion. The number of observations in this study were 245 observations taken from 49 companies in the mining sector with five years of observation. The sampling technique used was the purposive sampling method by taking samples from S&P Capital IQ for financial data for 2017-2021 which were then processed using STATA ver. 17. The result is empirical evidence that financial conditions have a negative effect on going-concern audit opinions, while company size has a positive effect on going-concern audit opinions. For the control variable, only auditor affiliation has an effect on going concern audit opinion with a negative relationship.

Impact of firms’ size, leverage, and net profit margin on firms’ profitability in the manufacturing sector of Bangladesh: An empirical analysis using GMM estimation

The study investigated the factors that influence the return on assets (ROA) of manufacturing firms in Bangladesh. The study relied on secondary data sourced from the audited annual reports of 15 leading manufacturing firms in Bangladesh, covering a period of ten years from 2013 to 2022. The sample firms were selected based on their listing on the Dhaka Stock Exchange (DSE)-30 and Chittagong Stock Exchange (CSE)-30 indices and their status as leading firms in the manufacturing sector using the purposeful sampling method. The study employed the one-step generalized method of moments (GMM) estimator to analyze the data, addressing the presence of endogeneity and heteroskedasticity. The results of the study indicated that the natural logarithms of net profit margin (NPM) and total sales (TS) have a significant positive relationship with ROA, while the natural logarithm of total assets (TA) has a significant negative relationship with ROA. However, the study did not find any significant relationship between the leverage ratio (D RATIO) and ROA. The lagged value of the dependent variable (L) was also found to be insignificant. The study's findings suggest that firms can enhance their ROA by improving their profitability and increasing their sales while avoiding excessive growth in their asset base. Additionally, larger firms may face diseconomies of scale that reduce their profitability. However, the lack of a significant relationship between leverage and ROA is somewhat surprising, and further research is needed to better understand the relationship between leverage and ROA in different contexts. Overall, the study utilized a rigorous data collection approach to ensure the reliability and validity of the data used for analysis, providing accurate results that can be relied upon for making informed decisions.

The Effect of Environmental Performance and Company Size on The Company's Financial Performance

This study aims to determine the effect of Environmental Performance and Company Size on Financial Performance. The independent variables in this study are environmental performance measured by PROPER and firm size measured using the natural logarithm of total assets. The population in this study is the Chemical and Pharmaceutical Sub-Sector Manufacturing Companies listed on the Indonesia Stock Exchange (IDX) with an observation period of 5 years, 2016- 2020, using the sampling method, namely purposive sampling and the total sample obtained is 8 sample companies per year, 1 outlier sample, so the total sample obtained in this study was 39 samples. The results of this study indicate that environmental performance has a significant positive effect on financial performance, company size does not have a significant effect on financial performance.
 Keywords: Environmental Performance, Company Size, and Financial Performance.

Analysis of Factors Affecting Auditor Switching

This research aimed to determine the impact of management changes, company growth, financial distress, and the percentage change in ROA, KAP size, and company size on auditor switching. In this study, the management changes and KAP size employed dummy variables. The company growth is projected by its delta revenue percentage; financial distress is projected by its debt to equity ratio (DER); the percentage change in ROA is projected by its delta return on asset (ROA); and the size of the company is projected with the natural logarithm of total assets. This research was conducted on manufacturing sector companies listed on the Indonesia Stock Exchange (IDX) from 2017–2019. The sampling technique applied in this study was the purposive sampling technique. The sample in the study was 68 companies, and it was conducted over three years, resulting in 204 data. The employed data analysis technique was logistic regression analysis. The results showed that the variable percentage change in ROA and KAP size affected auditor switching. Meanwhile, the variables of management changes, company growth, financial distress, and company size do not affect auditor switching.

Determinants of Dividend Policy: Growth Opportunities, Business Risk and Leverage with Size as Moderation

To find out whether investment opportunity set, business risk, and leverage affect dividend policy. To determine whether firm size can strengthen/weaken the effect of the investment opportunity set, business risk, and leverage on dividend policy. In this study, dividend policy is measured by dividend payout ratio (DPR), investment opportunity sets are measured using proxies based on the market-to-book value of equity (MBVE), business risk is calculated using the basic earning power ratio (BEPR) proxy, and leverage (debt to equity ratio) as a ratio that describes how much the company conducts debt policy. The firm size variable used in this study is measured using the natural logarithm of total assets. This research is quantitative application research, this research uses interaction test analysis or better known as moderated regression analysis (MRA). The sample was selected using a purposive random sampling method in companies going public on the Indonesia Stock Exchange in the consumer sector for the period 2017-2021. The results of this study indicate that investment opportunity sets do not affect dividend policy, low business risk has a positive effect on dividend policy, and leverage has a positive effect on dividend policy. Size can moderate of the investment opportunity set and low business risk on dividend policy but size cannot moderate the effect of leverage on dividend policy.

The Impact of Women’s Empowerment on the Corporate Environmental, Social, and Governance (ESG) Disclosure

This research article examines the relationship between women’s empowerment and corporate ESG disclosure variables by analyzing 10,121 publicly traded companies listed worldwide with historical ESG data available in Bloomberg from 2016 to 2020. The paper seeks to answer whether corporate gender diversity directly affects companies’ ESG disclosure by using proprietary Bloomberg ESG disclosure scores and independent variables such as the female board and executive representation. Control variables, like the company’s return on equity, total debt ratio, and the natural logarithm of total assets as a proxy measurement of the firm’s size, are also included. Results provide evidence that policies that foster corporate gender diversity directly benefit from enhanced ESG-related disclosure, thus helping to trigger national dialogues about suitable corporate gender diversity strategies influencing firms’ ESG disclosure. This paper makes a unique contribution to the literature by being the first to analyze the effects of women’s empowerment on ESG disclosure using a globally representative sample. The evidence of the benefits of women’s empowerment associated with corporate ESG disclosure suggests that organizations with a more gender-diverse corporate board and executive team are more likely to have higher levels of ESG disclosure, as gender diversity increases the likelihood of organizational transparency and accountability, and can lead to improved corporate value. Governments should use this evidence to implement policies promoting women’s empowerment in the corporate world, ultimately leading to improved corporate ESG disclosure.

An Empirical Research on Influencing Factors of Stock Returns in the National Defense and Military Industry

The Chinese stock market has made remarkable strides after about 30 years of growth and development. Increasing levels of public involvement in the stock market contributed greatly to the growth of the nation's economy. As the majority of investors’ financial knowledge continue to increase, people pay more and more attention to the stock return and its influencing factors. This paper chooses stock from 71 listed companies in the National Defense and Military sector of Shenyin Wanguo’s primary industry as study object, constructing a multiple linear regression model for the company financial index and the stock return from 01/01/2021 to 31/12/2021, and performing F-test and T-test. Results show that Revenue Growth rate, Return on Equity, natural logarithm of Total Assets and Debt to Asset ratio will not impact the stock yield while Price-to-Earnings ratio have significant negative influence on it. Final investment decisions can be made by investors based on the interplay of the stock market, macroeconomic environment, and current circumstances.

Pengaruh Pandemi Covid-19 dan Karakteristik Perusahaan terhadap Manajemen Laba Akrual

This study aims to analyze the effect of the Covid-19 pandemic and company characteristics on accrual earnings management. Accrual earnings management is the dependent variable in this study as measured by absolute discretionary accruals using the Modified Jones Model by Dechow (1995). The Covid-19 pandemic is an independent variable in this study measured by a dummy variable that takes 1 if the observation period of the pandemic is 2020, and 0 otherwise. Company characteristics are independent variables which in this study are represented by profitability as measured by ROA, leverage as measured by DER, and firm size as measured by the natural logarithm of total assets. The population of this study were companies that were heavily affected by the Covid-19 pandemic, the tourism, restaurant and hotel sectors and the retail sector which were listed on the Indonesia Stock Exchange in 2019-2020 using the sampling method, namely the purposive sampling technique so that the final sample of this study was 57 companies. The analysis technique used is multiple linear analysis techniques. Overall, the results of this study indicate that the Covid-19 pandemic has no effect on accrual earnings management. The characteristics of the company, namely profitability and company size also have no effect on accrual earnings management, and leverage has a positive effect on accrual earnings management.

The Effect of Profitability, Firm Value, and Leverage on Stock Return before and During Covid-19 in Healtycare Sector Companies

The Covid-19 pandemic has greatly affected the economy of all countries so that it is considered a black swan which has an impact on almost all aspects of life. However, there are companies that actually benefit from the Covid-19 pandemic, namely companies in the health care sector, because the need for products produced by companies in this sector is really needed during the pandemic. This study aims to examine the effect of profitability, firm value, leverage and company size on stock returns in healthcare sector companies both before, during and after the Covid-19 pandemic. Profitability is measured by return on assets, firm value is measured by the price to book value ratio, leverage is measured by the debt-to-equity ratio and firm size is measured by the natural logarithm of total assets. The population of this study is the health care sector companies that are on the Indonesia Stock Exchange as many as 24 companies and all of them are taken as samples. The data collection period is from 2018 to 2022, with quarterly data. This study uses multiple regression analysis to test the hypothesis. The results of the study show that profitability and leverage have no significant effect on stock returns before, during and after Covid. Meanwhile, PBV has a positive and significant effect on stock returns both before, during and after Covid. Meanwhile, firm size has an effect on stock returns during and after Covid 19