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Factors Affecting Potential Company Bankruptcy During The Covid-19 Pandemic Risal Rinofah; Ratih Kusumawardhani; Virginia Athadhita Maha Putri
Jurnal Keuangan dan Perbankan Vol 26, No 1 (2022): January 2022
Publisher : University of Merdeka Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26905/jkdp.v26i1.6752

Abstract

The Covid-19 pandemic that occurred has damaged the Economy of Indonesia and even the world. This poses a threat to companies in various sectors. Thus, this study aims to test the role of financial ratios (current ratio, debt to asset ratio, return on asset, total asset turnover, sales growth) and macroeconomic factors (inflation, exchange rate, interest rates, and economic growth) in predicting financial distress conditions in the pharmaceutical, telecommunications, hotel and restaurant, health, financing institutions listed on the Indonesia Stock Exchange, with the research model altman Z-Score Modification as measured by methods based on multiple linear regression. The data used in this study is secondary data, in the form of company financial statements taken quarterly for 2019-2020. The results proved that the current ratio, total asset turnover, sales growth had a significant positive effect in predicting financial distress. In contrast, the debt to asset ratio had a significant negative impact, while inflation, exchange rates, interest rates, and economic growth did not affect financial distress conditions.
ARUS KAS, CASH HOLDING, KENDALA PENDANAAN DAN INVESTASI DI INDONESIA Risal Rinofah
AdBispreneur : Jurnal Pemikiran dan Penelitian Administrasi Bisnis dan Kewirausahaan Vol 3, No 2 (2018): AdBispreneur : Jurnal Pemikiran dan Penelitian Administrasi Bisnis dan Kewirausa
Publisher : Departemen Ilmu Administrasi Bisnis, Fakultas Ilmu Sosial dan Ilmu Politik, UNPAD

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (45.317 KB) | DOI: 10.24198/adbispreneur.v3i2.19003

Abstract

ABSTRACTThis study aims to detect Cash Flow, Cash Holding and Financial Constraints effect on investment decisions of companies in Indonesia. Some of the previous studies outside Indonesia show evidence of the impact of cash flows and financial constraints on it’s investment level.Using Multiple Regression and Logistic Regression model, on five years data observation shows that cash flow and cash holding have a positive effect on investment level. Interaction test shows the effect of cash flow on investment in financially constrained different from financially unconstrained companies. In other words, the average rate of investment changes caused by the level of cash flow is the same for both companies. While the effect of cash holding on investment, no different in the company that financially constraint and financially unconstraint company.The contribution of this research is to provide insight to the parties related to the importance of cash flow and cash holding to the investment of a company. Based on the results it can be concluded that companies that have cash flow and high cash holding have greater investment opportunities, especially in companies that have problems in finding sources of funding.   ABSTRAKPenelitian ini bertujuan untuk mendeteksi pengaruh Arus Kas, Cash Holding dan Kendala Finansial terhadap keputusan investasi perusahaan di Indonesia. Beberapa penelitian sebelumnya di luar Indonesia menunjukkan bukti ada pengaruh Arus Kas dan Kendala Keuangan pada tingkat investasi.Dengan menggunakan model Regresi Berganda dan Regresi Logistik, pada pengamatan data selama lima tahun menunjukkan bahwa Arus Kas dan Cash Holding berpengaruh positif terhadap tingkat investasi. Uji interaksi menunjukkan pengaruh Arus Kas terhadap investasi pada perusahaan yang mengalami kendala pendanaan berbeda dengan perusahaan yang tidak mengalami kendala pendanaan. Dengan kata lain, tingkat rata-rata perubahan investasi yang disebabkan oleh tingkat arus kas adalah sama untuk kedua perusahaan. Sedangkan pengaruh Cash Holding terhadap investasi, tidak berbeda pada perusahaan yang mengalami kendala pendanaan maupun tidak.Kontribusi dari penelitian ini adalah untuk memberikan wawasan kepada pihak-pihak yang terkait dengan pentingnya arus kas dan Cash Holding untuk investasi perusahaan. Berdasarkan hasil tersebut dapat disimpulkan bahwa perusahaan yang memiliki Arus Kas dan Cash Holding yang tinggi memiliki peluang investasi yang lebih besar, terutama pada perusahaan yang memiliki masalah dalam mencari sumber pendanaan. 
Karakteristik Literasi Keuangan (Studi Kasus Mahasiswa Fakultas Ekonomi Universitas Sarjanawiyata Tamansiswa) Elisabet Yuli Kristanti; Risal Rinofah
Jurnal Manajemen STIE Muhammadiyah Palopo Vol 7, No 1 (2021)
Publisher : Lembaga Penerbitan dan Publikasi Ilmiah (LPPI) Universitas Muhammadiyah Palopo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35906/jm001.v7i1.672

Abstract

Abstrak Literasi keuangan pada individu menjadi ketertarikan tersendiri bagi seseorang, karena dapat mempengaruhi proses pengambilan keputusan bagi seseorang secara lebih efisien, teliti dan rasional. Seiring dengan perkembangan teknologi juga yang semakin canggih seharusnya bisa dimanfaatkan seseorang untuk menambah wawasan dan bahan untuk media belajar, sehingga bisa mengelola keuangan yang baik sejak dini, dan nantinya semakin siap dalam menghadapi dunia kerja. Penelitian ini memiliki tujuan untuk menguji tingkat literasi keuangan mahasiswa dan faktor yang mempengaruhi seperti karakteristik demografis serta perilaku keuangan.  Penelitian ini memiliki responden sebanyak 150 mahasiswa yang berasal dari jurusan Manajemen dan Akuntansi Fakultas Ekonomi Universitas Sarjanawiyata Tamansiswa. Penelitian ini menggunakan kuesioner dengan indikator literasi keuangan meliputi: pengetahuan umum keuangan pribadi, pengetahuan manajemen uang, asuransi, dan investasi. Metode analisis yang digunakan dalam penelitian ini adalah statistik deskriptif, uji asumsi klasik, dan analisis regresi linier berganda. Hasil pengolahan statistik deskriptif menunjukkan jika tingkat literasi keuangan mahasiswa tinggi, yaitu 69,73 persen. Hasil dari analisis regresi linier berganda menunjukkan bahwa jenis kelamin, usia, tahun masuk, tempat tinggal, perilaku keuangan berpengaruh positif dan signifikan terhadap literasi keuangan, sedangkan pendapatan berpengaruh negatif dan signifikan terhadap literasi keuangan mahasiswa. Kata Kunci: Literasi keuangan, faktor demografi dan perilaku keuangan.Abstract Financial literacy in individuals becomes a special interest for someone, because it can affect the decision-making process for someone more efficiently, thoroughly and rationally. Along with the development of technology which is also increasingly sophisticated, someone should be able to add insight and material for learning media, so that they can manage finances well from an early age, and will be more ready to face the world of work. This study aims to examine the level of student financial literacy and influencing factors such as demoraphic characteristics and financial behavior. This study have respondents as many as 150 students who come from the Department of Management and Accounting, Faculty of Economics, University of Sarjanawiyata Tamansiswa. This study uses a questionnaire with indicators of financial literacy including: general knowledge of personal finance, knowledge of money management, insurance, and investment. The analysis method used in this research is descriptive statistics, classical assumption test, and multiple linear regression analysis. The results of descriptive statistical processing show that the level of student financial literacy is high, namely 69.73 percent. The results of the multiple linear regression analysis show that gender, age, year of entry, place of residence, financial behavior have a positive and significant effect on financial literacy, while income has a negative and significant effect on student financial literacy.Keywords: Financial literacy, demographic factors and financial behavior.
VARIABILITAS SAHAM PADA PERIODE SEBELUM DAN SESUDAH PEMILIHAN PRESIDEN DAN WAKIL PRESIDEN 17 APRIL 2019 Arum Tri Widiastuti; Risal Rinofah; Mujino Mujino
SEGMEN Jurnal Manajemen dan Bisnis Vol 16, No 3 (2020): SEGMEN Jurnal Manajemen dan Bisnis
Publisher : FE Program Studi Manajemen

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37729/sjmb.v16i3.6033

Abstract

This research is about the differences of abnormal return and trading volume activity in the period before and after the election of president and vice president on April 17, 2019.This research uses event study method to measure market reaction on politic event that is happening in Indonesia. The data that is used in this research is secondary data obtained from IDX (Indonesia Capital Market Director) .The data is in the form of daily closing price of share, IHSG, LQ-45, number of share traded and a number of share outstanding .The sample of the research is company share included in the composite stock price index (IHSG) and LQ-45 during the observation period, seven days before and seven days after the election of president and vice president on April 17,2019  in Indonesia Stock Exchange. Analysis of the data of the research uses normality test and a paired sample t-test. The result of the research indicate that 1. There is no significant differences between abnormality return in period before and after the election of president and vice president on April 17, 20192. There is no significant differences between trading volume activity in period before and after the election of president and vice president on April 17, 2019.Keywords : abnormal return, trading volume activity, the election of president and vice president.
PENGARUH RAMADHAN TERHADAP RETURN DAN VOLUME PERDAGANGAN SAHAM PADA JAKARTA ISLAMIC INDEX (JII) Rahayu Setiasri; Risal Rinofah
MANAJEMEN DEWANTARA Vol 1 No 1 (2017): MANAJEMEN DEWANTARA
Publisher : Universitas Sarjanawiyata Tamansiswa

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (689.655 KB) | DOI: 10.26460/md.v1i1.51

Abstract

Tujuan penelitan ini untuk mengetahui apakah terdapat (1)pengaruh Ramadhan terhadap return saham dan (2) volumeperdagangan saham pada Jakarta Islamic Index.Metode penelitian yang digunakan adalah data menggunakanmetode dokumentasi, sedangkan teknik analisis datamenggunakan uji beda yaitu uji T (T-test). Hasil penelitianmenunjukkan bahwa pengujian terhadap return saham sebelumdan selama Ramadhan, selama dan sesudah Ramadhan, sertavolume perdagangan saham sebelum dan sesudah Ramadhantidak berpengaruh secara signifikan.Hasil penelitian menunjukkan bahwa Hasil yang berbedadidapatkan pada pengujian volume perdagangan saham selamadan sesudah Ramadhan, dimana memperoleh hasil yangsignifikan.Kata Kunci:Ramadhan, return saham, volume perdagangan saham
PENGARUH KECUKUPAN MODAL DAN RISIKO KREDIT TERHADAP PROFITABILITAS PADA PERBANKAN DENGAN LIKUIDITAS SEBAGAI VARIABEL INTERVENING Risal Rinofah; Pristin Prima Sari; Meita Lulut Widyastuti
ECOBISMA (JURNAL EKONOMI, BISNIS DAN MANAJEMEN) Vol 9, No 1 (2022): Volume 9, No 1 Tahun 2022
Publisher : Fakultas Ekonomi dan Bisnis (FEB) Universitas Labuhanbatu

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36987/ecobi.v9i1.2277

Abstract

Penelitian ini bertujuan untuk mengetahui (1) pengaruh Kecukupan Modal terhadap Profitabilitas, (2) pengaruh Risiko Kredit terhadap Profitabilitas, (3) pengaruh Kecukupan Modal terhadap Likuiditas, (4) pengaruh Risiko Kredit terhadap Likuiditas, dan (5) pengaruh Likuiditas terhadap Profitabilitas.Populasi yang digunakan dalam penelitian ini adalah perusahaan perbankan konvensional yang terdaftar di Bursa Efek Indonesia (BEI). Pengambilan sampel penelitian dilakukan dengan metode purposive sampling dan diperoleh 23 sampel perusahaan dengan periode tahun 2016-2020 (5 tahun). Alat analisis yang digunakan dalam penelitian ini yaitu Regresi Linear Berganda dan Uji Sobel.Hasil penelitian ini menunjukkan bahwa Kecukupan Modal berpengaruh positif dan tidak signifikan terhadap Profitabilitas, Risiko Kredit berpengaruh negatif dan signifikan terhadap Profitabilitas, Kecukupan Modal berpengaruh negatif dan signifikan terhadap Likuiditas, Risiko Kredit berpengaruh negatif dan signifikan terhadap Likuiditas, Likuiditas berpengaruh negatif dan tidak signifikan terhadap Profitabilitas, serta Likuiditas tidak mampu memediasi hubungan antara Kecukupan Modal dan Risiko Kredit terhadap Profitabilitas.
Analisis Pengaruh Rasio Keuangan, Corporate Govermance, Dan Risk Based Capital Untuk Memprediksi Tingkat Kebangkrutan Di Perusahaan Batubara Yang Terdaftar Di Bursa Efek Indonesia Tahun 2015-2019 Risal Rinofah; Nina Yuliyanti
EKOMBIS REVIEW: Jurnal Ilmiah Ekonomi dan Bisnis Vol 10 No 1 (2022)
Publisher : UNIVED Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (1072.136 KB) | DOI: 10.37676/ekombis.v10i1.1818

Abstract

This study aims to examine and analyze the effect of Current Ratio, Debt Ratio, Return on Assets, Return on Equty, Net Profit Margin, Institutional Ownership, Managerial Ownership, Audit Committee, and Risk Based Capital on the Bankruptcy Rate of Coal Companies listed on the Indonesia Stock Exchange in 2015-2019. The population in this study are companies in the coal sector listed on the Indonesia Stock Exchange in 2015-2019. The sample of this study was 6 companies that suffered losses for two times in the time span of the study with a sampling technique that is pusposive sampling. This data is taken in the form of secondary data obtained from annual reports and company financial statements during the 2015-2019 research year. The method used consists of multiple regression analysis, classical assumptions, hypothesis testing (t test and f test) and test the coefficient of determination. The results of this research show that: (1) Current Ratio has no effect on the company's bankruptcy rate, (2) Debt Ratio has a positive effect on the company's bankruptcy rate, (3) Assets Return has no effect on the company's bankruptcy rate, (4) Return on equity does not affect the bankruptcy rate of the company, (5) Net Profit Margin has no effect on the bankruptcy rate of the company, (6) institutional ownership has no effect on the bankruptcy rate of the company, (7) managerial ownership has no effect on the bankruptcy rate of the company, (8) the audit committee does not affect the Bankruptcy Rate of the company, (9) Risk Based Capital has no effect on the Bankruptcy Rate of the company. Keywords: Current ratio, Debt Ratio, Return on assets, Return on Equty, Net Profit Margin, Institutional Ownership, Managerial Ownership, Audit Committee, Risk Based Capital, and Bankruptcy Rate.
PENGARUH RISIKO LIKUIDITAS, NET INTEREST MARGIN, DAN GOOD CORPORATE GOVERNANCE TERHADAP KINERJA KEUANGAN BANK UMUM Indra Ayu Aninda Wibowo; Gendro Wiyono; Risal Rinofah
Modus Vol. 32 No. 1 (2020): MODUS
Publisher : Faculty of Business and Economics Universitas Atma Jaya Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24002/modus.v32i1.3200

Abstract

ABSTRACTThis study aims to determine the impact of Liquidity Risk which is proxied by Loan to Deposit Ratio (LDR), Net Interest Margin (NIM), and Good Corporate Governance (GCG) on financial performance which is proxied by Return on Assets (ROA) at commercial banks listed on the Indonesia Stock Exchange in the period 2014-2018. Data collection techniques using purposive sampling method, found 10 banks with the largest assets. The data taken in the form of secondary data obtained through the annual repost and financial report. The results showed that there was a significant effect between Net Interest Margin and Good Corporate Governance on financial performance, while liquidity risk had no effect on financial performance. The implication of this result is to consider lending and overcome the risks faced.Keywords: liquidity risk; net interest margin; good corporate governance; financial performanceABSTRAKPenelitian ini bertujuan untuk mengetahui dampak Risiko Likuiditas yang diproksi dengan Loan to Deposit Ratio (LDR), Net Interest Margin (NIM), dan Good Corporate Governance (GCG) terhadap kinerja keuangan yang diproksikan dengan Return on Asset (ROA) di bank umum yang terdaftar di Bursa Efek Indonesia periode tahun 2014-2018. Teknik pengambilan data menggunakan metode purposive sampling, didapatkan 10 bank dengan aset terbesar. Data diambil dalam bentuk data sekunder yang diperoleh melalui laporan tahunan dan laporan keuangan. Hasil penelitian menunjukkan terdapat pengaruh yang signifikan antara Net Interest Margin dan Good Corporate Governance terhadap kinerja keuangan, sedangkan risiko likuditas tidak berpengaruh terhadap kinerja keuangan. Implikasi dari hasil ini adalah mempertimbangkan penyaluran kredit dan mengatasi risiko yang dihadapi.Kata kunci: risiko likuiditas; net interest margin; good corporate governance; kinerja keuangan
Pengaruh Altman Z-score terhadap Harga Saham dan Dampak Pandemi Covid-19 Singgih Prasetianto; Risal Rinofah; Ratih Kusumawardhani
Al-Kharaj : Jurnal Ekonomi, Keuangan & Bisnis Syariah Vol 4 No 2 (2022): Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah
Publisher : Research and Strategic Studies Center (Pusat Riset dan Kajian Strategis) Fakultas Syariah IAI Nasional Laa Roiba

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (531.837 KB) | DOI: 10.47467/alkharaj.v4i2.701

Abstract

Penelitian ini bertujuan untuk mengetahui pengaruh pengaruh Altman Z-score terhadap harga saham, pengaruh rasio-rasio pada Altman Z-score terhadap harga saham sebelum dan sesudah pandemic covid-19, dan mengetahui perbedaan rasio-rasio pada Altman Z-score sebelum dan sesudah pandemic covid-19 pada perusahaan BUMN yang terdaftar dalam Bursa Efek Indonesia (BEI) periode 2018- 2020. Jenis penelitian ini menggunakan pendekatan kuantitatif dengan metode Purposive Sampling. Perusahaan sampel yang sesuai kriteria yang ditentukan sebanyak 20 perusahaan. Hasil penelitian menunjunkan bahwa pada regresi linier sederhana nilai Altman Z-score berpengaruh terhadap harga saham, pada regresi linier berganda nilai Altman Z-score secara simultan tidak berpengaruh terhadap harga saham sebelum pandemic covid-19, tetapi Altman Z-score secara simultan berpengaruh terhadap harga saham setelah pandemic covid-19, dan Rasio laba ditahan / total asset berpengaruh terhadap harga saham pada sebelum dan sesudah pandemic covid-19. Pada uji beda, rasio EBIT / total asset terdapat perbedaan signifikan sebelum dan sesudah pandemic covid-19.
Analisis Pengaruh Economic Value Added, Profitabilitas dan Market Value Added Terhadap Harga Saham Perusahaan Risal Rinofah; Pristin Prima Sari; Heni   Nur Amrina
Al-Kharaj : Jurnal Ekonomi, Keuangan & Bisnis Syariah Vol 4 No 3 (2022): Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah
Publisher : Research and Strategic Studies Center (Pusat Riset dan Kajian Strategis) Fakultas Syariah IAI Nasional Laa Roiba

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (448.787 KB) | DOI: 10.47467/alkharaj.v4i3.746

Abstract

The purpose of this study is to find out whether the effect of Market Value Added, Profitability, and Market Value Added on stock price. Sampling in this study is a purposive sampling method. Then the data is tested using multiple regression analysis. The results of the t test showed that the Economic Value Added has a signification value of 0,018 which means smaller than 0,05 and the calculated value of -2.441<t tablel 2.00758 then H1 is accepted. Profitability has a signification value of 0,034 greater than 0,05 and a calculated value of 2.182>t table 2.00758 then H2 is accepted, Market Value Added has significant value of 0,223 greater than 0,05 and the value of t calculated -1.235<t table 2.00758 then H3 is rejected. The results of the F test showed that Economic Value Added, Profitability, Market Value Added have a calculated F value of 2,933 and sig. 0,042. Because the value F calculated 2.933>F table 2.773 and sig. value 0,042<0,05. It can be concluded that partially Economic Value Added has a significant negative effect on stock price, Profitability has a significant effect on stock price, Market Value Added has no significant effect on stock price and simultaneously Economic Value Added, Profitability, Market Value Added has a significant effect on stock price Keywords: Economic Value Added, Profitabilitas, Market Value Added, Stock Price