Sales Growth Research Articles

The Influence of Liquidity and Sales Growth on Capital Structure in Manufacturing Companies on The Indonesian Stock Exchange

The Influence of Liquidity and Sales Growth on Capital Structure in Manufacturing Companies on The Indonesian Stock Exchange

An examination of PT Bank Negara Indonesia Tbk's capital structure for the years 2014–2022 with respect to profitability, asset structure, company size, and growth opportunities

The aim of this study is to investigate the relationship between the capital structure (debt to equity ratio, or DER) of PT Bank Negara Indonesia Tbk (BNI) and its expansion potential (sales growth), firm size (size), asset structure, and profitability (return on assets, or ROA). The period covered by this investigation is 2014–2022. Secondary information from financial reports accessible at www.idnfinancials.com, www.bni.co.id, and www.idx.co.id on the internet. The method used is multiple regression analysis, where profitability, asset structure, business size, and growth prospects are the independent components and capital structure is the dependent variable. The classic assumption test includes the following criteria: autocorrelation, heteroscedasticity, multicollinearity, and normality. To assess the hypothesis, multiple regression analysis and the partial test (t-test) are then employed. The findings show that capital structure is significantly and negatively impacted by profitability, as shown by the values of tcount> ttable (-37.203 > 2.028); capital structure is significantly and negatively impacted by asset structure (-50.337 > 2.028); capital structure is significantly and positively impacted by company size (1. 808E-009 > 2.028); and capital structure is positively and significantly impacted by growth opportunity (3.195 > 2.028). In addition, there is a R Square value of 79.8% and a value of Fcount> Ftable (30.695 > 2.48).

Evaluating The Impact of ESG Integration on The Financial Performance of Pertamina Geothermal Energy: A Sustainable Growth Perspective

The global energy landscape is undergoing a significant transformation driven by the urgent need to mitigate climate change, increased regulatory pressures, and rising stakeholder expectations. This study aims to explore the impact of ESG integration on the financial performance of Pertamina Geothermal Energy (PGE), a subsidiary of PT Pertamina (Persero), which plays an important role in the energy transition in Indonesia. This study uses secondary data from financial statements, prospectuses, annual reports, and information from the PGE website. In addition, historical data on the stock prices of power generation companies and comparative analysis of the industry are used. The analysis was carried out using the Discounted Cash Flow (DCF) method to calculate the intrinsic value of the company, as well as an assessment of sustainability policies, community engagement programs, and improvement of corporate governance. The results show that ESG integration has a positive impact on PGE's sales growth, profitability, and return on investment. Improved sustainability policies, community engagement programs, and corporate governance contribute significantly to better financial performance. The integration of ESG principles in PGE not only improves financial performance but also shows that sustainability and profitability can go hand in hand. These findings provide valuable insights for the broader energy sector, suggesting that ESG integration can drive positive change and facilitate an era where financial growth and environmental responsibility complement each other.

The Role of Profitability in Moderating the Effect of Managerial Ownership and Sales Growth on Earning Management

This research aims to determine and describe the role of Profitability in moderating the influence of Managerial Ownership and Sales Growth on Earning Management in LQ45 companies listed on the Indonesia Stock Exchange. The population in this research are companies that are included in the LQ45 group in 2020-2022. The sampling technique used in this research is a purposive sampling technique so that the sample obtained in this research is 28 companies. The data analysis techniques used in this research are Panel Data Regression and Moderate Regression Analysis. The results provide empirical evidence that Managerial Ownership has an effect on Earning Management, while Sales Growth has an effect on Earning Management. In addition, this research provides evidence that the interaction of Managerial Ownership and Profitability can weaken the relationship between the influence of Managerial Ownership on Earning Management.

FAKTOR-FAKTOR YANG MEMPENGARUHI KEBIJAKAN HUTANG PERUSAHAAN CONSUMER GOODS PERIODE 2018-2020

This study aims to examine and analyze the influence of asset structure, liquidity, profitability, and sales growth on debt policy in consumer goods sector companies listed on the Indonesia Stock Exchange for the 2018-2020 period. The company sample in this study used purposive sampling and the selected sample was 37 consumer goods companies for the 2018-2020 period. This study uses secondary data from financial statements and techniques in data processing using multiple regression analysis and assisted by using the SPSS version 25 program. The results of this study indicate that the variables of asset structure, liquidity, profitability have a negative and significant effect on debt policy. Meanwhile, the sales growth variable has a negative and insignificant effect on debt policy.

Profitability, Sales Growth, Ownership Structure on Company Value with Moderation of Capital Structure in Fisihing Company

This research aims to test and analyze the influence of profitability, sales growth, managerial ownership and institutional ownership on company value with capital structure as a moderating variable in fishing companies. This research uses quarterly financial report data obtained from 8 fishing companies listed on the Indonesia Stock Exchange (BEI) for the period from Quarter I 2020 to Quarter III 2023. The sampling technique in this research uses Saturated Sampling Technique with 8 fishing companies selected as sample. This research uses panel data analysis techniques with moderated regression analysis (MRA) on E-views 13. The research results prove that profitability, managerial ownership and capital structure have a positive effect on company value, while sales growth and institutional ownership have no effect on company value. In addition, capital structure is able to moderate profitability on company value.

The influence of sales growth and capital intensity on tax aggressiveness with inventory intensity as a moderating variabel

This research aims to empirically prove the influence of sales growth and capital intensity on tax aggressiveness, with inventory intensity as a moderating variable. The independent variables used in this research are sales growth and capital intensity, while the dependent variable is tax aggressiveness, and inventory intensity serves as the moderating variable. The population of this research consists of Consumers Non-Cylicals sector companies listed on the Indonesia Stock Exchange from 2018 to 2022. The sample selection method is purposive sampling, yielding 12 companies or 60 observation samples. The data used are secondary data in the form of audited annual financial statements of each company. This research use Quantitative data analysis methods and associative problem formulation methods with causal relationships are used with the aid of E-views 12 software. The results indicate that sales growth and capital intensity simultaneously effect on tax aggressiveness. Partially, sales growth has a effect on tax aggressiveness, while capital intensity does not have a effect on tax aggressiviness. Additionally, the results indicate that inventory intensity does not moderate (weaken) the effect of sales growth on tax aggressiveness, nor does it moderate (weaken) the effect of capital intensity on tax aggressiveness.

Factors affecting financial distress in indonesian basic industry and chemicals sector

This research aims to analyse the influence of profitability, leverage, firm size, sales growth, and liquidity on financial distress in companies in the basic industry and chemicals sector listed on the Indonesia Stock Exchange for 2017-2022. The sample for this research is 20 companies in the basic industry and chemicals sector listed on the Indonesia Stock Exchange for 2017-2022 obtained from purposive sampling. The type of data used is quantitative data obtained from secondary data. The data collection technique is a documentation technique obtained from the company's annual financial report from the Indonesia Stock Exchange for 2017 - 2022. The data analysis techniques used are descriptive statistics and logistic regression using SPSS 26. The results of the study show that profitability is proxied by ROA, leverage is proxied by the debt ratio, firm size is proxied by the logarithm of total assets, sales growth is proxied by the sales growth ratio, and liquidity is proxied by the current ratio do not affect financial distress. Advice that can be given to investors and companies is to focus on the five independent variables and internal company factors in looking at the size of financial distress and to consider other possible factors. Apart from that, advice that can be given to future researchers is to use different proxies in carrying out the analysis because different proxies will allow different results to be obtained.

Effects of Government Incentives on Sales Growth of Selected Industrial Firms in South- East, Nigeria

The study focused on the effects of government incentives on sales growth of selected industrial firms in South-East, Nigeria. The objective of the study was to examine the effect of government incentives on sales growth of selected industrial firms in South-East, Nigeria: The significant effect of government incentives on sales growth of selected industrial firms in south east, Nigeria will require management of industrial firms to focus on most lucrative and productive government incentives to improve on their marketing performance. Incentives help firms generate economies of scale in production and they can manage to sell excess domestic capacity with government formulated policies and support with institutional knowledge transfer to facilitate SMEs to industrial development in South East Nigeria. Improved marketing performance of industrial firms in south east, Nigeria will also improve the contribution of industrial firms sector to the gross domestic product of the economy. This will also imply increased tax payment by the firms to government, which will in turn make revenue available for societal development. The study adopted survey research design The population of the study was 12100 selected industrial firms in South-East, Nigeria. A sample size of 387 (Three hundred and eighty-seven) was drawn from the population using Taro yamani statistical formula. One hypothesis was formulated and tested with Simple Linear Regression model.. The major findings in the study showed that: there is a significant effect of government incentive on sales growth of selected industrial firms in South-East, Nigeria; This study has formed a body of knowledge (reference material) which has closed the gap identified in literature and which can also be cited by both present and potential researchers. Results of the study provided direction for management of industrial firms with respect to which government incentive to adopt in order to improve on marketing performance as well as where and how to direct available resources.. Hence, we concluded that successful investments in R&D result in innovative products and services that enable the company to improve its sales revenue. It implies that government subsidies can serve as effective catalyst that can boost the overall productivity of firms located within south east, thereby increasing their sales revenue and also their competitiveness We, therefore, recommended that firms in the south east zone should upgrade their activities relating to cost efficiency, quality, variety/diversification, responsiveness, acceptance of entrepreneurial risks, and a positive attitude towards change and innovation as prerequisites for surviving in a globalized market.

Regulating data: Evidence from corporate America

AbstractUsing the enforcement of the General Data Protection Regulation (GDPR) as our empirical setting, we examine how stricter data privacy and data protection requirements affect shareholder wealth, firms’ investment decisions, and data breaches. Consistent with consumer privacy negatively affecting firms, we find that U.S. firms exposed to the GDPR lose 0.7%–1.1% in market value relative to unexposed firms in the week in which the regulation became enforceable. We find that the decrease in market value is partially attributable to a decrease in sales growth. GDPR‐exposed firms increase their investment above that of control firms and become less likely to report a data breach post‐regulation. The decrease in data breach likelihood is statistically and economically significant, resulting in up to 34 million records not being leaked, which costs between $205 million and $561 million to firms in breach mitigation expenses per year. The results of this study should be of interest to academics and regulators worldwide by examining the costs and benefits of regulating data.

Rancangan Aplikasi Inventory Barang Pada Babycom Berbasis Web Menggunakan Metode Waterfall

Babycom, a company specializing in the sale of imported baby sandals, faces challenges in managing its inventory due to rapid sales growth, particularly through the Tiktok Shop platform. Manual inventory management is prone to data inaccuracies, monitoring difficulties, and inefficient resource utilization. To address these issues, this research proposes the development of a web-based inventory management application using the waterfall development method. This approach is chosen for its ability to provide structured guidance from needs analysis to maintenance, tailored to the complexity of Babycom's requirements. It is anticipated that this design will offer an effective solution to inventory management issues, resulting in improved operational efficiency, data accuracy, and ease of information access for the company.

Receivables Turnover, Cash Turnover, and Sales Growth against Liquidity in Cosmetics Sector Companies Listed On the Indonesia Stock Exchange

Receivables Turnover, Cash Turnover, and Sales Growth against Liquidity in Cosmetics Sector Companies Listed On the Indonesia Stock Exchange

Young adult retail purchases of cannabis, product category preferences and sales trends in California 2018-21: Differences compared with older adults.

The aim of this study is to identify cannabis products according to their appeal among young adults and measure product sales trends. This was a retrospective comparative study using point-of-sale data from licensed recreational cannabis retailers that include buyer age with birth year entered by retailers, set in California, USA. Cannabis purchases by young adults (aged 21-24, GenZ) were compared with older adults (age 25+) over 4years (2018-21). Sales for six cannabis product categories were analyzed using a commercial data set with imputations and a raw data set. Age-appeal metrics were dollar and unit sales to young adults, and dollar and unit share ratios (young adults/older adults), where a share ratio of 100 denotes age-appeal comparability. A product category was considered more young-adult appealing than others if its mean on a metric was at least one standard deviation above the grand mean across all product categories. Flower (cannabis plant material) and vapor pen appealed to young adults based on absolute dollar sales, dominating young-adult spending compared with other cannabis products (37.24 and 31.83%, respectively). Vapor pen and concentrate appealed to young adults based on dollar share ratios of 152, meaning these products comprised a 52% greater share of young-adult cannabis spending relative to older-adult spending (31.83/20.97% and 10.47/6.88%, respectively). Less appealing to young adults were pre-roll, edible/beverage and absorbable products (tincture/sublingual, capsule and topical). Flower showed the largest dollar sales growth (B = +$3.50million/month), next to vapor pen (B = +$1.55million/month). Vapor pen tied for highest growth in the percent of product dollars from the largest package size (B = +0.85%/month) and showed the steepest price decline (B = -0.53 price per gram/month). In California, USA, from 2018 to 2021, relative to older adults, young adults spent a greater share of their cannabis dollars on vapor pen and concentrate (products with high potency of delta-9-tetrahydrocannabinol).

Pengaruh Sales Growth, Likuiditas, dan Aset Tangibility terhadap Struktur Modal

Purpose: This study aims to determine the effects of sales growth, liquidity, and asset tangibility on capital structure. Methodology/approach: The research sample included as many as 14 companies in various industrial sectors of the automotive sub-sector for the period 2018-2022. Quantitative research using the associative approach method was used. The data used are secondary data, which are annual financial statements of automotive companies for the period to 2018-2022. The study population comprises various industrial sectors of the automotive subsectors listed on the Indonesia Stock Exchange. The data analysis method used was multiple linear regression using SPSS version 23. Results: The sales growth variable has no significant effect on capital structure, the liquidity variable has a significant effect on capital structure, and the asset tangibility variable has no significant effect on capital structure. Limitations: The sample in the study only focuses on miscellaneous sector companies in various sectors of the automotive industry for the period 2018-2022 listed on the Indonesia Stock Exchange. Contribution: Good sales growth makes investors hesitant to provide capital to the company, and a high liquidity value reflects the ability of the company to meet its short-term obligations. Companies with good liquidity values are considered to have good investor performance. Investors plan and analyze ratios in automotive financial reports to obtain a better understanding and information regarding financial performance. This is performed to achieve a predetermined investment objective.

CHALLENGES AND OPPORTUNITIES OF IMPLEMENTING HALAL CERTIFICATION IN NONMUSLIM MAJORITY MARKETS

This study examines the challenges and opportunities associated with implementing halal certification in non-Muslim majority markets. The research focuses on understanding the impact of the halal concept, certification costs, consumer perceptions, and consumer trust on sales growth in these markets. Using a quantitative approach, data was collected from 300 sellers operating in non-Muslim markets in Indonesia through an online survey distributed via Google Forms. The findings reveal a significant positive effect of the halal concept on increasing consumer trust.. Additionally, consumer perceptions were found to influence consumer trust significantly. Furthermore, increased consumer trust was positively associated with sales growth in non-Muslim markets. The study provides valuable insights for sellers aiming to navigate the challenges and leverage the opportunities of halal certification in non-Muslim majority markets. Strategies to enhance consumer trust and mitigate certification costs are suggested, along with avenues for future research to explore innovative solutions for improving the implementation of halal certification

The effect of labor mobility on corporate investment and performance over the business cycle

We show that time-series variation in investment opportunities and labor demand create heterogeneity in the effects of labor mobility on corporate investment over the business cycle. To isolate variation in labor mobility, we create an annual state-level index from 1984 through 2017 that captures the degree to which state courts enforce covenants not to compete. We find that firms located in more mobile labor markets increase investment rates more during economic expansions but have similar investment rates during periods of low or negative growth. This increased investment during expansions is greater for firms that rely more on recruiting skilled and experienced workers to grow their businesses, and it translates into higher sales growth rates, profits, and valuations. Overall, our results suggest that the benefits of being able to recruit qualified workers with relevant experience during expansions outweigh the costs associated with losing key workers.

The Influence of Profitability, Leverage, Sales Growth, and Book Tax Differences on Corporate Tax Avoidance

This research aims to investigate the influence of profitability, leverage, sales growth, and book-tax differences on tax avoidance in the food and beverage industry. The research sample consists of companies in the food and beverage sector listed on the Indonesia Stock Exchange (IDX) during the period from 2018 to 2022. Using multiple regression analysis, this study examines the relationship between the dependent variable, which is the cash effective tax rate (CETR), and the independent variables, profitability (ROA), leverage (DER), sales growth, and book-tax differences. The results show that profitability has a negative impact on tax avoidance, leverage has a negative impact on tax avoidance, sales growth contributes positively to tax avoidance, and book-tax differences have a positive effect on tax avoidance. The influence of profitability, leverage, sales growth, and book-tax differences on tax avoidance is 37.5%, as indicated by the R-Square value of 0.375 for CETR. This indicates that there are 62.5% other factors not identified in this research that also affect tax avoidance. This research is important for policymakers as it shows that although factors such as profitability and leverage play a role in tax avoidance, there are many other factors that must also be considered. Therefore, further research is recommended to include additional variables and involve data from companies in other sectors to gain a broader perspective. This can help in formulating more effective policies in controlling tax avoidance across various industries. The findings provide significant insights into the complexity of tax avoidance and emphasize the need for a more holistic approach in tax policy enforcement.

Detecting Earning Manipulation Using the Beneish M-Score Model: Evidence from Public Listed Companies in Malaysia

This paper aims to examine the association between earning manipulation using the Beneish M-Score Model and share price with market capitalisation as the control variable among public listed companies (PLCs) in Malaysia. The study was performed over a four-year period from 2017 to 2020 using the financial data of 65 PLCs under the Financial Times Stock Exchange (FTSE) Bursa Malaysia Top 100 Index, including various industries except the financial service industry. The Beneish M-Score Model comprised eight variables or ratios to identify earning manipulations, namely Days Sales in Receivable Index (DSRI), Gross Margin Index (GMI), Asset Quality Index (AQI), Depreciation Index (DEPI), Sales Growth Index (SGI), Sales, General and Administrative Index (SGAI), Total Accruals to Total Assets (TATA), and Leverage Index (LVGI). The market price was measured using the year-end share price. The findings found that there was a weak negative association as well as a statistically insignificant relationship between earning manipulation and share price, which suggests that earning manipulation is influenced by other factors excluding share price. The findings did not support the argument that there was a significant relationship between earning manipulation and share price where companies had been discovered to have engaged in earning manipulation. The study is crucial for the stakeholders that expect companies to achieve the maximum returns and stability in investments and to protect owners’ rights.

The Influence of Executive Character, Sales Growth, and Corporate Governance on Tax Avoidance (Empirical Study of Non-Cyclical Consumer Sector Companies Listed on the Indonesian Stock Exchange for the 2018-2022 Period)

This study aims to analyze the effect of executive character, sales growth, and corporate governance on tax avoidance. This research was conducted by analyzing the financial statement of companies in the consumer non cyclical sector listed on the Indonesia Stock Exchange (IDX) during the period 2018 to 2022. The sample used in this study was 17 consumer non cyclical sector companies listed on the Indonesia Stock Exchange during the period from 2018 to 2022 using a puposive sampling technique. The data used in this study is secondary data in the form of financial reports from each company that has been used as a research sample. The variables used in this study are Executive Character (X1) as the first independent variable, Sales Growth (X2) as the second independent variable, and Corporate Governance (X3) as the third independent variable and Tax Avoidance (Y) as the dependent variable. Panel data regression method is used as a research methodology in this study. Analysis of research results using the help of Eviews 12 software. The result showed that the best model is the Random Effect Model (REM). The results of this study indicate that Executive Character partially has a negative effect on Tax Avoidance, Sales Growth partially has no effect on Tax Avoidance, Corporate Governance partially has no effect on Tax Avoidance, and simultaneously Executive Character, Sales Growth and Corporate Governance effects on Tax Avoidance.

Effect of Human Capital Development on the Performance of Small Scale Enterprises in Ondo State, Nigeria

It is globally acknowledged that small-scale businesses (SSEs) play a critical role in promoting innovation, economic growth, employment creation, and social development in both developed and developing nations. SSEs in Nigeria have not contributed as much to the nation's economic development and progress as was anticipated because of a lackluster level of innovation. The performance of SSEs in Ondo State, Nigeria, was therefore investigated in relation to the development of human capital. Out of 2,324 registered SSEs, data from 270 respondents were gathered using a structured questionnaire and a simple random sampling technique. In order to investigate the relationship between the independent variable (human capital development) and the dependent variable (sales growth), the data were analyzed using simple linear regression and the Statistical Package for Social Sciences (SPSS) version 23. The results of the study showed that increased sales are positively and significantly impacted by the development of human capital (β = 0.752, t = 15.248, P<.005). According to this, sales growth in Ondo State, Nigeria, is strongly predicted by the development of human capital. According to the outcome, the State's sales growth was boosted by 64.7%, in part by human capital development. The study concluded that if sufficient funds are allocated to developing their human capital—particularly through training, seminars, workshops, and the acquisition of academic and professional qualifications—SSEs in Ondo State, Nigeria, can achieve a considerable improvement in both their financial and non-financial performance. Thus, it is therefore recommended that governments, non-governmental organizations, and other interested parties make investments in thorough training and educational initiatives designed to meet the unique requirements of SSEs.