Indonesian Journal of Economics and Management

Prediksi Kebangkrutan Menggunakan Altman Z-Score dan Zmijewski pada PT Prasidha Aneka Niaga Tbk Periode 2014-2018

Widya Saviera Putri, Iwan Setiawan, Benny Barnas — Sat, 19 Dec 2020 00:00:00 +0000

The growth of the company listed on the IDX is experiencing the highest achievement as the most listed exchange of IPO in the ASEAN region. The fluctuation of the profit generated by PT. Prasidha Aneka Niaga Tbk. which tends to suffer losses in the year of research, the research aims to predict bankruptcy at PT. Prasidha Aneka Niaga Tbk. using the Altman Z-Score and Zmijewski method. The method of study that was used is a descriptive method. The data used is based on the annual financial report. The results showed that bankruptcy predictions using the Altman model of the company's Z-Score were in the grey area and had potential bankruptcy category. While bankruptcy predictions using Zmijewski the company is in a healthy category. Based on the said calculations, the company has produced different results, but judging from the ratio of each model the company is in position of vigilant bankruptcy.

Analisis Tingkat Kesehatan Kinerja Keuangan Perusahaan BUMN Bidang Industri Pertahanan (Indhan) Indonesia Periode 2015-2019

Angga Nugraha, Tjetjep Djuwarsa, Ine Mayasari — Sat, 19 Dec 2020 00:00:00 +0000

This study seeks to describe the quality of financial performance of Indonesian Defense Industry (Indhan) BUMN companies in the 2015-2019 period as measured using a reference standard based on the Decree of the Minister of State-Owned Enterprises (BUMN) Number (KEP-100/MBU/2002). The assessment indicators used as an assessment tool consist of 8 indicators, namely Return on Equity, Return on Investment, cash ratio, current ratio, collection periods, inventory turnover, total asset turnover, and the ratio of total equity to total assets. The results of the study showed varied results. PT Dahana (Persero) obtained a “Sehat AA” level of financial health in 2015-2018 and “Sehat A” in 2019. PT Industri Telekomunikasi Indonesia (Persero) obtained a “Kurang Sehat B” level of financial health in 2015-2016, then in 2017 received a "Kurang Sehat BB" to decrease in 2018 and 2019 to "Tidak Sehat CCC". PT Pindad (Persero) obtained financial performance results with a value of "Kurang Sehat BBB" in 2015-2017, then "Sehat A" in 2018 and decreased in 2019 to "Kurang Sehat BBB”.

Pengaruh Receivable Turnover dan Working Capital Turnover terhadap Profitability pada Perusahaan Farmasi yang Terdaftar di BEI Periode 2014-2018

Salma Maisa, Fifi Afiyanti Tripuspitorini, Armansyah M. Sarusu — Thu, 10 Feb 2022 00:00:00 +0000

This final project research is aimed to determine the effect of Receivable Turnover and Working Capital Turnover on Return On Asset on pharmaceutical companies listed on the Indonesia Stock Exchange in the 2014-2018 period. From that research objectives, the hypothesis proposed in this study are Receivable Turnover (RTO) and Working Capital Turnover (WCTO) simultaneously and partially have a significant effect on profitability (ROA) of pharmaceutical companies listed on the Indonesia Stock Exchange. The techniques are used in this research is Purposive Sampling and obtained 7 Pharmaceutical Companies on the Indonesia Stock Exchange which were used as research samples. Secondary data are used in the form of company annual financial statements. The research method used are descriptive and quantitative research. The test is done by panel data regression method which is processed using eviews 10. The selected panel data regression method is the Fixed Effect Model. The results showed that simultaneously Receivable Turnover (RTO) and Working Capital Turnover (WCTO) had a significant effect on profitability (ROA) of pharmaceutical companies listed on the Indonesia Stock Exchange. The partial results showed that Receivable Turnover (RTO) had a significant negative effect on profitability (ROA) while Working Capital Turnover (WCTO) had no significant effect on profitability (ROA) for pharmaceutical companies listed on the Indonesia Stock Exchange.

Pengaruh Solvabilitas terhadap Profitabilitas (Studi pada Perusahaan Asuransi Kerugian yang Terdaftar di Bursa Efek Indonesia Tahun 2013-2018)

Muthia Nur Soniati, Ruhadi Ruhadi, Mochamad Edman Syarief — Sat, 19 Dec 2020 00:00:00 +0000

Insurance Company is developing, proved with the amount of insurance companies now, because companies need to minimalize their risk There were several insurance companies warned by Financial Services Authority. This research has purpose to uncover the impact of Risk Based Capital to Return On Asset.The independent variable is RBC and dependent variable is ROA. The methode is explanatory and quantitative methode with secondary data which is annual financial reports period 2013 – 2018 in insurance companies listed on Indonesia Stock Exchangd that dertermined 5 companies as sample.The statistic are classic assumption test, simple linear regretion, coefficient of determination, and hypothesis test with SPSS version 23. The result by t test showed that Risk Based Capital has positive and significant influence on the Return On Asse. Where the change in Risk Based Capital can explain the change in Return On Asset by 44.9% while the rest is influenced by other factors.

Analisa Kinerja Keuangan PT BTPN Tbk Periode 2015-2019 dengan POJK Nomor 4/POJK.03/2016

Ega Virgiani, Dadang Hermawan, Rosma Pakpahan — Sat, 19 Dec 2020 00:00:00 +0000

In 2019, PT BTPN Tbk ranked seventh as the bank with the large asset. The purpose of the research is to analyze financial performance at PT BTPN Tbk 2019 that determinate the health of the bank. This research used quantitative and secondary data from annual financial report during 2015-2019. Collecting data method is using literature study. This research using descriptive analysis with ratio: Liquidity Ratio (Quick Ratio, Loan to Fund Ratio (LFR) and Loan to Asset(LAR), Solvability Ratio (Return On Asset(ROA), ROE (Return On Equity), Net Interest Margin (NIM) and BOPO) and Rentability Ratio (Debt to Equity Ratio (DER) and Cash Adequacy Ratio (CAR)). The result of research show that financial performance of PT BTPN Tbk period 2015-2019 in good condition.

Pengaruh Likuiditas, Solvabilitas, dan Profitabilitas terhadap Earning per Share pada Bank Umum yang Terdaftar di Bursa Efek Indonesia

Rizki Muhammad Siddiq, Setiawan Setiawan, Ade Ali Nurdin — Sat, 19 Dec 2020 00:00:00 +0000

In conducting this research which aims to find out from the influence of Loan to Deposit Ratio (LDR), Debt to Assets Ratio (DAR), and Return on Assets (ROA) to Earning per Share (EPS) in Commercial Banks listed on the IDX period 2008-2017. In this study the type of data used is secondary data, which is from financial statement data that has been published by the website on the Indonesia Stock Exchange and the website of each company that will be examined in the period 2008-2017. The total sample used in this study is four bank companies in the banking sub-sector that have been listed on the Indonesia Stock Exchange from 2008-2017. The technique that will be used in the way of sampling is by purposive sampling technique is a technique of determining samples with certain considerations. The analysis technique in this study uses panel data regression analysis using the Eviews 10 program tool.

Prediksi Kebangkrutan pada Bank BUMN dengan Menggunakan Metode Altman Z-Score Modifikasi Periode 2019

Nita Kurniasih, Muhamad Umar Mai, Lili Masli — Sat, 19 Dec 2020 00:00:00 +0000

The purpose of this research is to predict the possibility of bankruptcy occur in company. The sample in this research used four state-owned banks, namely Bank BRI, Bank BNI, Bank Mandiri dan Bank BTN. The research method used is descriptive analysis techniques and tool used in predicting bankcruptcy is by using model Altman Z-Score modification. The research period used is the period 2019 with secondary data obtained from the annual financial report of state-owned bank. The result of this research conclude that all of four state-owned banks are in the grey zone for the 2019 period because the value of the Z-Score obtained is between 1,10 and 2,90.

Pengaruh Debt to Equity Ratio dan Return on Equity terhadap Harga Saham pada Perusahaan Makanan dan Minuman yang Terdaftar di Bursa Efek Indonesia

Antis I'niswatin, Radia Purbayati, Setiawan Setiawan — Sat, 19 Dec 2020 00:00:00 +0000

Thiss research aims to detrmine how much influence the Debt to Equity Ratio (DER) dan Return on Equity (ROE) on Stock Prices at Food and Beverage Sub Sector companies listed on the Indonesia Stock Exchange for the period 2013-2018. The sample used in this research were ten companies obtained based on purposive sampling technique. The data used in this study is panel data so that the data will be tested using the help of the Eviews 9 application and analysed using panel data multiple analysis. The results of this analysis indicate that DER partially has a negative and significant effect on stock prices and ROE partially has a positive and significant effect on stock prices. Meanwhile, simultaneously, DER and ROE have a joint influence on stock price of companies in the Food and Beverage Sub Sector for the 2013-2018 period.

Perbandingan Return dan Risiko Saham Subsektor Perbankan dengan Subsektor Property Real Estate yang Terdaftar di BEI

Ladysa Awala, Tjetjep Djuwarsa, Dimas Sumitra Danisworo — Sat, 19 Dec 2020 00:00:00 +0000

The Indonesia Stock Exchange (IDX) noted the rise investors during 2019. In addition, some of the sector on the market capital shows the rapid development. It can be seen from a stock transactions. However, the developments is not indicate the return and risk of every sector. This research aims to determine differences in return and risk of stock between banking subsector and property, real estate subsector on the period 2019. The data used are secondary data obtained from Indonesia Stock Exchange and Id Investing. The research sample used was of 16 (sixteen) companies stock in the banking subsector and 14 (fourteen) companies stock in the property, real estate. This study used the Mann Whitney Test using SPSS version 24 software as analysis tool. The result of this research shows that there is no significant difference return and risk between banking subsector and property, real estate subsector.

Analisis Kinerja Keuangan dan Prediksi Kebangkrutan PT Krakatau Steel Tbk Periode 2014-2018

Intantri Lestari, Endang Hatma Juniwati, Mochamad Edman Syarief — Sat, 19 Dec 2020 00:00:00 +0000

This study was aimed to find out the financial performance and predictions of bankruptcy of the company Krakatau Steel Tbk. The subjects of this study were the financial statements of PT Krakatau Steel Tbk from 2014 to 2018 with sample, the balance sheet and profit / loss statements. The method of this study was a descriptive approach method, with the Altman Z-score. The data were analyzed statistically used Microsoft Excel. The results of this study indicate that in the first year to the fifth year the company obtained (30 <TS ≤ 40) at the health level, which means that the company is in a "B" or less healthy state. If the performance results are in an unhealthy condition, bankruptcy prediction is carried out. In this case, the prediction value of bankruptcy gets a score of <1.81, the condition is very bad or distress zone. It can be concluded that this study shows that financial performance is in an unhealthy condition while bankruptcy is in a very bad position, namely the company is experiencing financial difficulties.

Pengaruh Perputaran Piutang dan Perputaran Modal Kerja Terhadap Net Profit Margin pada Perusahaan Makanan dan Minuman di BEI (2014-2018)

Wigianti Astutisari, Kristianingsih Kristianingsih, Ine Mayasari — Sat, 19 Dec 2020 00:00:00 +0000

This research aims to find out the effect of Receivables Turnover and Working Capital Turnover on Net Profit Margin in Food and Beverage Sub Sector companies listed in IDX for the period 2014-2018. This study used purposive sampling techniques, so that sample data was obtained used by 6 Food and Beverage Sub Sektors companies registered in IDX period 2014-2018 with certain criteria. The type of data used in this study is secondary data in the form of the company's annual financial statements. The research method carried out is descriptive and quantitative research. This research was conducted by regression panel data processed using IBM SPSS Statistics 26 Software. The results showed that simultaneous turnover of receivables and turnover of working capital had a significant effect on Net Profit Margin. Partially, Receivables Turnover negatively and significantly affects Net Profit Margin and Working Capital Turnover negatively and significantly affects Net Profit Margin.

Pengaruh Total Assets Turnover dan Current Ratio terhadap Return on Assets pada Perusahaan Properti dan Real Estate di BEI (2014-2018)

Hanna Arsyanti, Fifi Afiyanti Tripuspitorini, Djoni Djatnika — Sat, 19 Dec 2020 00:00:00 +0000

The research in this final project was toi know and analyze The Effect of Total Assets Turnover and Current Ratio to Return On Assets in Property and Real Estate Companiesl on the Indonesian Stock Exchange in the periode 2014-2018. The type of data used is secondary data in the form of the company’s annuall financial statement. In the research, there are 7 Property and Reall Estate Companies on the Indonesia Stock Exchangei which are sampled research. The research method used is descriptive and quantitative research. The test is done by panel data regression which eviews 10. The selected panell data regression method is Fixed Effect Model. The research result show that Total Assets Turnover has a positive impactt to Return On Assets and Current Ratio has not impact to Return On Assets. Total Assets Turnover and Current Ratio have a simultaneous effect to Return On Assets.

Pengaruh Dana Pihak Ketiga dan Non-Performing Loan terhadap Penyaluran Kredit pada Bank yang Terdaftar di BEI

Popy Sandra Tesalonica Hutahaean, Diharpi Herli Setyowati, Endang Hatma Juniwati — Sat, 19 Dec 2020 00:00:00 +0000

The purpose in this research was to find the effect of third party funds and non-performing loans on the amount of lending to banking sector listed on the Indonesia Stock Exchange for the period 2014 to 2018. The research method used is quantitative descriptive method. The data used are secondary data in the form of annual financial reports, and the data analysis technique uses multiple linear regression analysis. The data processing in this study used a statistical tool, namely E-views 9. The results of this study indicate that partially third party funds have a positive and significant effect on the amount of lending and non-performing loans have a negative and significant effect on the amount of credit disbursement. Simultaneously or together, third party funds and non-performing loans have a significant effect on the amount of lending.

Pengaruh Non Performing Loan dan BI Rate terhadap Return on Asset Pada Bank Umum

Jonathan Darmawan, Banter Laksana, Dimas Sumitra Danisworo — Sat, 19 Dec 2020 00:00:00 +0000

The research aims to know the effect of Non Performing Loan (NPL) and Interest Rate of Bank Indonesia towards Return On Asset (ROA). Population in this research are listed commercial bank on Indonesia Stock Exchange (IDX) period in 2014 – 2018. The sampling of the research was performed using the method of purposive sampling. Obtained by amount sample as much 33 bank from 45 commercial banking company listed on Indonesian Stock Exchange in period 2014 – 2018. Research methodology on this research using associative method with quantitative approachment. Data analysis technique used are multi linear regression using IBM SPSS Statistic 24 for Windows software. The result of the survey encountered that partially Non Performing Loan (NPL) had a negative effects toward Return On Asset (ROA) and significant and Interest Rate of Bank Indonesia had a negative effects toward Return On Asset (ROA) and significant. Simultaneously that Non Performing Loan (NPL) and Interest Rate of Bank Indonesia had a significant effect towards Return On Asset (ROA).

Pengaruh Debt to Asset Ratio dan Debt to Equity Ratio terhadap Return on Equity pada Perusahaan Properti dan Real Estate

Yunita Rizka Septiyani, Kristianingsih Kristianingsih, Muhamad Umar Mai — Sat, 19 Dec 2020 00:00:00 +0000

The purpose of this research is to determine the Effect of Debt to Asset Ratio (DAR) and Debt to Equity Ratio (DER) to Return On Equity (ROE) of property and real estate companies listed in IDX for 2013-2017 both simultaneously and partially. The used research methods are descriptive and quantitative approaches, with secondary data using IBM SPSS Statistics 23 application tool. There are 40 sample data choosen by purposive sampling. Based on the results of the F test simultaneously Debt to Asset Ratio (DAR) and Debt to Equity Ratio (DER) have a significant effect on Return On Equity (ROE). Based on hypothetical testing, the t test bring the result that debt to asset ratio (DAR) has an insignificant effect on return on equity (ROE) variables and Debt to Equity Ratio (DER) has a significant effect on Return on Equity (ROE) variables on property and real estate companies listed in IDX.

Pengaruh Dana Pihak Ketiga dan Giro Wajib Minimum terhadap Return on Assets pada Bank Umum Konvensional

Hurriyani Elvira, Dadang Hermawan, Hasbi Assidiki Mauluddi — Sat, 19 Dec 2020 00:00:00 +0000

This aim of this research are to analyze the effect of Third Party Funds (TPF) and Reserves Requirements (RR) on Return On Assets (ROA) at Conventional Commercial Banks Listed on Indonesia Stock Exchange (BEI) period 2015-2018. The population on this research are Conventional Commercial Banks Listed on Indonesia Stock Exchange period 2015-2018. The samples use were 12 banks, the samples on this research is using the purposive sampling method or the samples were taken by certain criteriaThe analysis used to determine the effect of Third Party Funds (TPF) and Reserves Requirements (RR) on Return On Assets (ROA) is verificative analysis using the help of Eviews 10 software. The results of this study indicate that the TPF and RR simultaneously have a significant effect on ROA. TPF has a positive and partially significant effect on ROA, while RR has a positive and partially insignificant effect on ROA.

Pengaruh Modal Kerja Terhadap Net Profit Margin pada Industri Makanan dan Minuman yang Terdaftar di BEI

Karunia Putri Augustina Dwi Anggiyani, Leni Nur Pratiwi, Banter Laksana — Sat, 19 Dec 2020 00:00:00 +0000

The aims of this research are to analyze the effect of Working Capital Turnover, Inventory Turnover, Cash Turnover, Receivables Turnover, and Short-term Debt to Net Profit Margin (NPM) at food and beverage industry listed on BEI (Indonesia Stock Exchange) Period 2017-2019. This research is using purposive sampling method and obtained a sample of 6 companies. The analysis used to determine the effect of Working Capital Turnover, Inventory Turnover, Cash Turnover, Receivable Turnover, and Short-Term Debt on Net Profit Margin (NPM) is a statistical analysis with using the help of SPSS 22.0 software. The results of this study indicate that the Working Capital Turnover, Inventory Turnover, Cash Turnover, Receivable Turnover and Short Term Debt variables simultaneously have a significant effect on Net Profit Margin (NPM). Working Capital Turnover, Inventory Turnover and Short-term Debt partially have a negative effect on NPM. Receivables turnover has a positive effect on NPM. whereas, cash turnover does cash turnover does not have an effect on NPM.

Perancangan Aplikasi Penilaian Tingkat Kesehatan Bank Umum Menggunakan Metode Risk Based Bank Rating

Maulana Harun Ar-rosyyid, Destian Arshad Darulmalshah Tamara, Rosma Pakpahan — Sat, 19 Dec 2020 00:00:00 +0000

The soundness level of a bank is a qualitative assessment of various aspects that affect the condition or performance of a bank through quantitative or quantitative assessments. In this Regulation of the Financial Services Authority Number 4 / POJK.03 / 2016 using an individual and consolidated risk approach (Risk Based Bank Rating / RBBR). This risk approach includes the Risk Profile, Good Corporate Governance, Earnings and Capital factors. Conducting an assessment is not easy, especially if it is still manual for the process. That way designing an application is the right way to solve it because it can simplify the work process by utilizing existing technology capabilities. Android-based technology is one of the most dominating technologies in use throughout the world. This study aims to design an application to process financial report data for the commercial bank sector into information on the health level of commercial banks based on the RBBR method and to present the development (comparison) of the soundness level of commercial banks in a two years period with the help of an android-based application. The design of this application uses a prototype approach method with several stages, namely identifying needs, making prototypes, testing prototypes, improving prototypes and developing production versions. Then the trial was carried out at one commercial bank for two consecutive periods at once. The test results on the application design for calculating the soundness level of a commercial bank based on the RBBR method in accordance with applicable regulations have been able to determine the composite rating (PK) and can suggest developments (comparisons) on the NPL, GCG, ROA and CAR factors in one commercial bank for two consecutive periods at once.

Pengaruh Perputaran Piutang dan Perputaran Persediaan terhadap Return on Asset pada Perusahaan Otomotif dan Komponen Periode 2013-2018

Evi Fujilestari, Radia Purbayati, Fatmi Hadiani — Sat, 19 Dec 2020 00:00:00 +0000

The purpose of this research is to test the effect of receivable turnover and inventory turnonver toward Return On Asset (ROA). The research sample are used Automotive Companies Listed on Indonesia Stock Exchange Period 2013 – 2018, using purposive sampling method are 6 companies. The data are used secondary data from financial statement of companies published by Indonesia Stock Exchange through the official website of Indonesia Stock Exchange namely www.idx.co.id. Analyse technique are used the multiple linear regression with EViews of 10 version. The results showed that receivable turnover has no significant effect on ROA with significance value greater than 0.05, which is 0.8201, inventory turnover is positive and significant with significance value smaller than 0.05, which is 0.0065.

Pengaruh Non-Performing Loan dan Loan to Deposit Ratio terhadap Cadangan Kerugian Penurunan Nilai

Siti Alawiyah Vebriana, Diharpi Herli Setyowati, Ade Ali Nurdin — Sat, 19 Dec 2020 00:00:00 +0000

The main activity of the bank is to collect and raise funds from third-party channels through credit. In practice, conventional banks are faced with bad debt problems. The Bank's effort to anticipate bad credit is by establishing reserve funds in the form of Loan Loss Provisions (CKPN). The effect of NPL and LDR on CKPN is important to study because it can Maintain good bank performance. The sample size in this study is 36 banks listed on IDX. The data analysis technique used in this study is panel data regression analysis technique followed by classical hypothesis testing. The results of this study show that NPL have a positive impact on CKPN. The regression test results show that LDR has a negative impact on CKPN. The results of NPL and LDR using F test were positive and significant for CKPN.