Journal articles on the topic 'Non-current assets turnover'
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1
Suk, Leonid, and Petro Suk. "Accounting for Capital Turnover." Accounting and Finance, no. 1(91) (2021): 29–35. http://dx.doi.org/10.33146/2307-9878-2021-1(91)-29-35.
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Economic globalization, digitalization of management processes, introduction of new forms of business organization, implementation of the concept of sustainable development are factors that affect the process of capital turnover and determine the need to improve its accounting support. The purpose of the article is to search for options for improving the accounting for capital turnover at the enterprise in modern conditions of a dynamic market environment. The economic essence of capital was disclosed and the capital turnover was identified as an object of accounting. The capital turnover in the enterprise is carried out constantly and is expressed through the turnover of funds that must be reflected in the accounting system. The analysis of the presentation (classification) of assets in the reporting was carried out, and it was found that all assets of an economic entity are in economic circulation, although the order and circulation period of various assets is not the same. Therefore, the division of assets into non-circulating and circulating assets is incorrect, since it contradicts the real essence of economic phenomena. It was proposed to change the approach to the presentation of assets in the reporting and rename the sections “Non-circulating assets” and “Circulating assets” in the Balance Sheet (Statement of financial position) of Ukrainian enterprises to “Non-current assets” and “Current assets”, respectively. It was proposed to place the balance sheet asset items in descending order of liquidity of assets. In particular, the first item will be “Money and their equivalents”, and then other items depending on the liquidity of assets. Accounting for business transactions must be kept according to the stages of capital turnover. In order to accounting for the sale of goods, works and services, it is advisable to use one synthetic account, on the debit of which it shows the sold products at their cost price, and on the credit – at the selling prices.
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Levitsky, N. "Improvement of accounting representation of non-current assets." Galic'kij ekonomičnij visnik 68, no. 1 (2021): 37–43. http://dx.doi.org/10.33108/galicianvisnyk_tntu2021.01.037.
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The essence of non-current assets is investigated and their main components are revealed in this paper. The problems of accounting for non-current non-monetary assets, which currently occupy an important share in the total value of assets, are studied. The place of new types of property – computer programs, electronic databases, websites (online stores, electronic printed publications and other electronic media) in the structure of non-current assets in particular, and property of the enterprise in general is determined. It is proved that such property is be closely related to the application of computer equipment and computer networks such as the Internet. In order to summarize the selected features and characteristics of this type of property, it is proposed to combine them into the separate group called «Electronic Property». Allocated objects are neither things nor property rights, the amount of money invested in this property is huge, and the turnover from the sale of goods and services via the Internet (online stores) is significant. On the global scale, such manipulations make it possible to clarify the concept and meaning of the term «intangible assets». The concept of «electronic property» is defined as property that has no material, natural form, which functions exclusively in conjunction with the physical resources of personal computers or computer networks. In order to organize the accounting of the investigated type of property, it is proposed to combine it into a separate accounting group «electronic assets» and to use for reflection in the accounting system the following accounts of the Chart of Accounts: 128 sub-account – «electronic assets», 136 subaccount – «depreciation of electronic assets». The main stages of accounting for non-current assets: identification and definition of non-current assets; classification of non-current assets; evaluation of non-current assets for accounting purposes; criteria, norms, methods of depreciation; principles of objects depreciation impossibility; procedure (methodology) for accounting of non-current assets aiming to determine the financial result are identified.
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Setyawati, Aprita Tri, and Edison Hamid. "Analisis Current Ratio dan Total Asset Turn Over Dalam Menilai Pertumbuhan Laba Pada PT. Gudang Garam Tbk (Periode Tahun 2016-2020)." PARAMETER 7, no. 1 (April 20, 2022): 155–67. http://dx.doi.org/10.37751/parameter.v7i1.195.
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This study aims to determine the current ratio and total asset turnover in assessing profit growth at PT.Gudang Garam Tbk, the period 2016-2020. This research is a three-variable research using qualitative descriptive research methods. Namely, the independent variable is the current ratio (X1) and total asset turnover (X2), while the dependent variable is profit growth, the data obtained by documentation and library techniques. Data analysis used case studies (non-hypothesis). Based on the results of the analysis of the current ratio and total asset turnover at PT. Gudang Garam, Tbk for the last five years, namely the 2016-2020 period, the average current ratio of 218.11% is in the very good category, and for total asset turnover the average value is 1.34 times in the good category, while the results of the current ratio analysis in assessing profit growth contributed 3.87% and total asset turnover in assessing profit growth contributed 7.45% and jointly current ratio and total assets turn over in assessing profit growth at PT. Gudang Garam Tbk, during the last five years obtained an average contribution of 11.32% and the rest contributed from other factors not examined in this study.
Abstrak
Penelitian ini bertujuan untuk mengetahui current ratio dan total asset turnover dalam menilai pertumbuhan laba pada PT.Gudang Garam Tbk periode 2016-2020. Penelitian ini merupakan penelitian tiga variabel dengan menggunakan metode penelitian deskriptif kualitatif. Yaitu, variabel bebasnya adalah rasio lancar (X1) dan total perputaran aset (X2), sedangkan variabel terikatnya adalah pertumbuhan laba, data diperoleh dengan teknik dokumentasi dan perpustakaan. Analisis data menggunakan studi kasus (non-hipotesis). Berdasarkan hasil analisis current ratio dan total asset turnover pada PT. Gudang Garam, Tbk selama lima tahun terakhir yaitu periode 2016-2020 rata-rata current ratio sebesar 218,11% berada pada kategori sangat baik, dan untuk total asset turnover nilai rata-ratanya adalah 1,34 kali dalam kategori baik, sedangkan hasil analisis current ratio dalam menilai pertumbuhan laba memberikan kontribusi sebesar 3,87% dan total assets turnover dalam menilai pertumbuhan laba memberikan kontribusi sebesar 7,45% dan secara bersama-sama current ratio dan total assets turn over dalam menilai pertumbuhan laba pada PT. Gudang Garam Tbk, selama lima tahun terakhir memperoleh kontribusi rata-rata sebesar 11,32% dan sisanya disumbangkan oleh faktor lain yang tidak diteliti dalam penelitian ini.
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Pangaribuan, Hasudungan. "ANALISIS PENGARUH RASIO KEUANGAN TERHADAP PERTUMBUHAN LABA Sudi Pada perusahaan non bank yang tergabung dalam kelompok LQ45 yang terdaftar di Bursa Efek Indonesia periode 2010- 2014”." Pekobis : Jurnal Pendidikan, Ekonomi, dan Bisnis 1, no. 4 (November 22, 2017): 1. http://dx.doi.org/10.32493/pekobis.v1i4.p1-16.721.
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ABSTRAK Tujuan dari penelitian ini adalah menganalisis pengaruh variabel Working Capital to Total Asset (WCTA), Current Liabilities To Inventory (CLI), Operating Income to Total Assets (OITL), Total Asset Turnover (TAT), Net Profit Margin (NPM) dan Gross Profit Margin (GPM) terhadap pertumbuhan laba.Data diperoleh dengan metode purposive sampling dengan kriteria (1) Perusahaan non bank yang terdaftar di Bursa Efek Indonesia (BEI) yang masuk ke dalam penghitungan indeks LQ45 periode Agustus 2014 sampai dengan Januari 2015, (2) Perusahaan non bank yang konsisten ada selama periode penelitian (2010 sampai dengan 2014), (3) Perusahaan non bank yang terdaftar di Bursa Efek Indonesia (BEI) yang menyediakan data laporan keuangan selama periode penelitian (2010 sampai dengan 2014) dan (4) Perusahaan non bank tidak menghasilkan laba negatif selama periode 2010 sampai dengan 2014, dan (5) Perusahaan non bank yang data-data keuangannya menghasilkan distribusi normal (tahun 2010 sampai dengan 2014).Hasil analisis menunjukkan bahwa data-data yang digunakan didalam penelitian ini telah memenuhi asumsi klasik, yang meliputi: tidak terjadi gejala multikolinearitas, tidak terdapat autokorelasi, tidak terjadi gejala heteroskedastisitas, dan data terdistribusi normal. Dari hasil analisis regresi menunjukkan bahwa variabel Working Capital to Total Asset (WCTA), variabel Total Asset Turnover (TAT), Net Profit Margin (NPM) secara parsial berpengaruh positif signifikan terhadap pertumbuhan laba dan variabel Current Liability to Inventory (CLI) secara parsial berpengaruh negatif signifikan terhadap pertumbuhan laba. Sedangkan, Operating Income to Total Assets (OITL) dan Gross Profit Margin (GPM) tidak berpengaruh signifikan terhadap pertumbuhan laba. Keenam variabel yang digunakan dalam penelitian ini (WCTA, CLI, OITL, TAT, NPM dan GPM) secara bersama-sama berpengaruh signifikan terhadap pertumbuhan laba. Kemampuan prediksi dari keenam variabel secara simultan adalah sebesar 0,000.Kata kunci: Working Capital to Total Asset (WCTA), Current Liabilities To Inventory (CLI), Operating Income to Total Assets (OITL), Total Asset Turnover (TAT), Net Profit Margin (NPM), Gross Profit Margin (GPM) dan pertumbuhan laba.
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Karanović, Goran, Ana Štambuk, and Davor Jagodić. "Profitability performance under capital structure and other company characteristics." Zbornik Veleučilišta u Rijeci 8, no. 1 (2020): 227–42. http://dx.doi.org/10.31784/zvr.8.1.21.
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The main objective of this paper is to explore how capital structure and other financial characteristics of companies influence Croatian hotel industry performance. This study’s key goal is to analyze the debt-equity structure of hotel industry and to demonstrate its correlation with financial performance. The high significance and impact of hotel industry on the economy in Croatia was main reason why authors opted to investigate it. This study was carried out using panel data methodology on a sample of 19 Croatian hotel companies listed on the Zagreb Stock Exchange during the period of 2003-2017. Return on assets and return on equity were used as performance proxies and dependent variables. Twelve variables as capital structure measures and other company characteristics – cash ratio, current liquidity ratio, structure ratio, debt ratio, debt factor (in years), equity to non-current assets, total assets turnover, current assets turnover, accounts receivables, activity ratio, return on revenue and crises during the 2009-2015 period – were used as independent variables. The findings suggest that cash ratio, structure ratio, debt factor (in years), equity to non-current assets, total assets turnover, activity ratio, accounts receivables, return on revenue and crises in the 2009-2015 period are related to the financial performance of the Croatian hotel industry. Although profitability performance theory and influence of capital structure and other company characteristic on it is widely studied in financial literature, there are not many studies examining the hotel industry, especially in Croatia. Finally, this study should provide managers with additional insights in making optimal financial decisions.
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Bashilov, Boris, Marina Galkina, and Alisa Berman. "Digital financial assets and digital currency: legal nature and legal regulation of turnover." SHS Web of Conferences 106 (2021): 02005. http://dx.doi.org/10.1051/shsconf/202110602005.
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In the past few years digital financial assets and digital currency have been getting more popularity among the tools of digital economy. Due to the demand for turnover of digital financial assets and digital currency, as well as the formation of an increasing number of jural relations, the object of which they are, they require efficient legal regulation, which is not a simple task for the legislator because of their dinamic development. Lack of such regulation causes the formation of non-uniform regulatory enforcements practices and the unpredictability of legal relations that are developed in relation to these instruments. One of the keys to the formation of effective regulation is a definition and precise legislative consolidation of the legal nature of digital financial assets and digital currency. This article analyzes the approaches to determining the legal nature of digital financial assets and digital currency in the current domestic legislation at the stage when such legislation has not been formed yet based on the analysis of regulatory enforcement practices and clarifications of state bodies. The current legislation is also analyzed in terms of the presence of legislative gaps taking into account the relationship between the relevant regulation and the provisions contained in other, non-major legislation. Moreover, the authors also analyzed the approaches to the regulation of the turnover of digital financial assets and digital currency abroad. Such approaches were classified as well, which allowed to identify the main trends of regulation of their turnover and to determine their legal nature.
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Sumani, Sumani. "The Structure of Good Corporate Governance and Financial Indicators as Predictor of Financial Distress in Mining Sector Company in Indonesia." Research in Business and Management 6, no. 1 (February 20, 2019): 1. http://dx.doi.org/10.5296/rbm.v6i1.13440.
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The purpose of the paper are: (1) to examine financial indicators, including: current ratio, return on assets, debt to assets ratio, and total asset turn over as a predictor of financial distress in mining sector companies in Indonesia; (2) to examine the structure of Good Corporate Governance including: independent commissioner, audit committee, board of directors, independent audit committee ratios with non-independent, and institutional ownership ratio with managerial ownership as predictor of financial distress in mining sector company in Indonesia. Type of research is quantitative explanatory research. Sampling technique is used purposive sampling method, as many as 20 companies in the mining sector in Indonesia. Analytical techniques in this study uses logistic regression. The results of the research show that: current ratio, debt to asset ratio, total asset turnover, and institutional ownership ratio with managerial ownership are not predictors of financial distress in mining sector in Indonesia. However, return on Assets, independent commissioners, audit committees, boards of directors and independent audit committee ratios with non-independent are predictors of financial distress in mining companies in Indonesia.
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Kholisoh, Siti Nur, and Rina Dwiarti. "The Analysis of Fundamental Variables and Macro Economic Variables in Predicting Financial Distress." Management Analysis Journal 9, no. 1 (March 24, 2020): 81–90. http://dx.doi.org/10.15294/maj.v9i1.36395.
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Financial distress is a condition where the company is experiencing financial difficulties prior to bankruptcy. This study aims to identify and explain the influence of the fundamental variables and macroeconomic variables in predicting the probability of financial distress. Based on the eight variables used, current ratio, debt to assets ratio, return on equity and total asset turnover ratio is a fundamental variable. While the sensitivity of inflation, exchange rate sensitivity and interest rate sensitivity included in macroeconomic variables. The population in this study are all porperti and real estate company listed on the Stock Exchange in 2014-2018. The sample selection using purposive sampling technique, acquired 23 companies in the sample with the five companies in the category of financial distress and 18 companies in the category of non financial distress. The analytical method used is logistic regression and sensitivity analysis. The results showed that the variable current ratio, debt to assets ratio, total asset turnover ratio, inflation sesnitivity, exchange rate sensitivity and interest rate sensitivity did not significantly affect the probability of financial distress. While return on equity significantly negative influence on the company’s financial distress.
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Alamsyah, Firman Mukhti, and Nurjanti Takarini. "ANALISIS PERTUMBUHAN LABA PADA PERUSAHAAN SEKTOR PERTAMBANGAN YANG TERDAFTAR DI BURSA EFEK INDONESIA." IDEI: Jurnal Ekonomi & Bisnis 2, no. 1 (April 5, 2021): 31–40. http://dx.doi.org/10.38076/ideijeb.v2i1.57.
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Indonesia is very rich in various resources, one of which is natural resources, one of which can be utilized in increasing non-tax state revenue. In addition, it can also be used as a support for economic activity both micro and macro, therefore company profits are used to support the company's operational activities in order to achieve the goals of the company. The purpose of this study was to determine the effect of Liquidity (Current Ratio), Leverage (Debt to Assets Ratio), Activities (Total Assets Turnover) on Profit Growth. The sampling technique used purposive sampling, namely sampling based on criteria, from these criteria there were 25 samples of mining companies, with a 2016–2018 research period, and the data analysis technique used was Multiple Linear Regression Analysis. The results of the observations can be concluded that the Current Ratio and Debt to Assets Ratio variables have significant results with a negative relationship direction to mining sector companies listed on the IDX in 2016–2018, besides that the Total Assets Turnover variable shows insignificant and negative results for mining sector companies listed on the IDX in 2016–2018.
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Darsyah, Rahmawan, Hari Sukarno, and Elok Sri Utami. "LQ45 Share Return Determinants In Indonesia." International Journal of Scientific Research and Management 8, no. 12 (December 20, 2020): 2049–57. http://dx.doi.org/10.18535/ijsrm/v7i12.em05.
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Return is the result obtained from investment. Returns can be in the form of realized returns that have occurred or expected returns that have not occurred but are expected to occur in the future. Return realization (realized return) is the return that has occurred. Realized return is calculated based on historical data. Return realization is important because it is used as a measure of the company's performance. This return history is also useful as a basis for determining the expected return and risk in the future. Expected return is the return expected by investors in the future. In contrast to realized returns which have already occurred, expected returns have not yet occurred. The performance measurement was also carried out at the LQ45 company. In general, this study aims to synthesize whether the current ratio, equity ratio, dividend payout ratio, dividend yield, earnings per share, price book value, return on assets and total asset turnover are partially determinants of stock return variability. The population in this study were non-banking companies included in the LQ45 according to a circular number: Peng-00028 / BEI.OPP / 01-2018 dated January 25, 2018. Non-bank companies were chosen because the types of products produced were not in the form of services. Hypothesis testing uses multiple linear regression analysis test tools. After analyzing the data, several conclusions can be drawn, namely: only the current ratio, equity ratio, dividend payout ratio, dividend yield, return on assets and total asset turnover partially determine stock returns
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Štefko, Róbert, Petra Vašaničová, Sylvia Jenčová, and Aneta Pachura. "Management and Economic Sustainability of the Slovak Industrial Companies with Medium Energy Intensity." Energies 14, no. 2 (January 6, 2021): 267. http://dx.doi.org/10.3390/en14020267.
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Industry 4.0 and related automation and digitization have a significant impact on competition between companies. They have to deal with the lack of financial resources to apply digital solutions in their businesses. In Slovakia, Industry 4.0 plays an important role, especially in the mechanical engineering industry (MEI). This paper aims to identify the groups of financial ratios that can be used to measure the financial performance of the companies operating in the Slovak MEI. From the whole MEI, we selected the 236 largest non-financial corporations whose ranking we obtained according to the amount of generated revenues in 2017. Using factor analysis, from eleven traditional financial ratios, we extracted four independent factors that measure liquidity (equity to liabilities ratio, quick ratio, debt ratio, net working capital to assets ratio, current ratio), profitability (return on sales, return on investments), indebtedness (financial leverage, debt to equity ratio), and activity (assets turnover, current assets turnover) of the company. Our analysis is an essential prerequisite for developing a realistic financial plan for companies operating in the MEI, especially when considering investments in new technologies related to Industry 4.0.
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Saputra, Alviano Renoldy, and Elizabeth Lucky Maretha Sitinjak. "Pengaruh Faktor-Faktor Keuangan Dan Perilaku Herding Investor Terhadap Underpricing Pada Penawaran Perdana Saham Perusahaan Yang Terdaftar Di Bei." JEMAP 1, no. 1 (July 16, 2018): 1. http://dx.doi.org/10.24167/jemap.v1i1.1581.
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The purpose of this study is to examine the influence of financial factors (firm liquidity ratio, and non-financial factors (herding behavior) influence on underpricing. There are 73.21 percent of companies experiencing underpricing during the public offering in 2009-2013.Therefore researchers will see the influence financial factors and herding behavior to the underpricing phenomenon.Underpricing is projected as an abnormal return, the liquidity is proxies by the current ratio (CR), the firm's activity is proxies by total assets of turnover ratio (TATO), profitability is projected Return on Assets (ROA), Assets (ROA), leverage is proxies debt to equity ratio (DER). This study uses multiple regression and fulfills all the classical assumptions. The results showed company liquidity, profitability, and herding behavior significantly influence underpricing.
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SUHARMADI, Suharmadi, and Suripto SURIPTO. "Effect of Liquidity, Productivity and Firm Size on Bond Ranking." International Journal of Environmental, Sustainability, and Social Science 2, no. 2 (March 22, 2022): 79–87. http://dx.doi.org/10.38142/ijesss.v2i2.77.
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The purpose of this research was to analyze the effect of liquidity, productivity and firm size on bond ratings on non financial companies in ranked PT PEFINDO and listed on the Indonesia Stock Exchange in the period 2016-2019.
The sampling method used was purposive sampling method in order to obtain 31 non financial companies with a total research of 93 samples. The data analysis technique used in this research is multiple linear regression analysis with IBM SPSS version 25 software.
The results of this research indicate that the liquidity variable which is proxied by current ratio has no significant effect on bond ratings. While the productivity variable which is proxied by total asset turnover and firm size which is proxied by natural log total assets has a significant positive effect on bond ratings.
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Gandamihardja, Satriana, and Ellen Rusliati. "KINERJA KEUANGAN SEBELUM DAN SESUDAH AKUISISI PADA PERUSAHAAN NON-KEUANGAN." Vol 12 No 1 (2020): Edisi April 12, no. 1 (April 28, 2020): 24–30. http://dx.doi.org/10.23969/jrak.v12i1.4042.
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A phenomenon in the company’s strategy in carrying out business development is mergers and acquisitions. In fact, the company prefers acquisition as its strategy, but it still lacks synergies after making acquisitions. The purpose of this study is to compare the financial performance before and after the acquisition of non-financial companies listed on the Indonesia Stock Exchange in 2012. The population are 31 companies that make acquisitions. The method used is descriptive and verification methods, with paired sample t-test. Based on the hypothesis test, the results showed that the current ratio, total asset turnover, debt to equity ratio did not have a significant difference between before and after the company made the acquisition, while the return on assets has a difference, but was decreasing. The acquirer needs to measure the performance of the company being acquired and project the performance and risk after the acquisition.
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HERRANZ, Rubén Elvira, Pablo García ESTÉVEZ, María Auxiliadora de Vicente y. OLIVA, and Rahul DÉ. "LEVERAGING FINANCIAL MANAGEMENT PERFORMANCE OF THE SPANISH AEROSPACE MANUFACTURING VALUE CHAIN." Journal of Business Economics and Management 18, no. 5 (October 27, 2017): 1005–22. http://dx.doi.org/10.3846/16111699.2017.1357655.
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We study financial management performance during 2008–2013 for the Spanish aerospace manufacturing value chain and the links with managerial decisions. Data from company financial statements is analysed with Principal Component Analysis, Data Envelopment Analysis and an Artificial Neural Network. Top financial performers focus on liquidity management rather than on returns: both in the short term, by increasing levels of current assets and funding them with short-term liabilities, as well as increasing asset turnover; and in the long term, by aligning equity to non-current assets, while reducing asset and debt intensity levels. Only the manufacturing value chain is analysed, showing the potential for future research in related fields (e.g. Value chain, country). Benchmarking and forecasting financial performance yields information and enables agility and accuracy in the strategy setting process. This study makes a unique contribution because it applies the scientific method where no previous related studies have done. It offers the novelty of using a single metric while Ratio Analysis requires multiple unweighted measures. We contribute by: (a) providing a method based on publicly information to benchmark and predict financial performance, thus offering benefits for aerospace stakeholders and academia; and (b) employing a big data sample that closely represents the population.
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Jayadev, M. "Predictive Power of Financial Risk Factors: An Empirical Analysis of Default Companies." Vikalpa: The Journal for Decision Makers 31, no. 3 (July 2006): 45–56. http://dx.doi.org/10.1177/0256090920060304.
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This paper provides empirical evidence on the significance of financial risk factors in predicting default companies. Traditionally, credit decision process is built on accounting ratios derived from financial statements of the borrower. Combining various ratios through application of multivariate statistical techniques and testing their predictive power has been popular in credit risk quantification. Altman's Z-score model is the most acceptable model in this category. In this paper, three forms of Z-score models are applied: The first equation is developed by surveying the internal credit rating models of the Indian banks and the ratios selected are: current ratio, debt-equity ratio, and operating margin. The second equation is similar to that of Altman's (1968) original equation with a slight modification: instead of debt-to-market value of equity, debt-to-book value of equity is considered. The other three ratios of the second equation are working capital to total assets, retained earnings to total assets, and earnings before interest and taxes to total assets. The third equation is called as Altman, Hartzell and Peck's ‘Emerging Market Score Model.’ Except the asset turnover ratio, all the ratios of the second equation are considered. In all the three equations, the coefficients are estimated by using the development sample of 112 companies. The dominant variables discriminating the default companies from non-default ones are: current ratio, debt-equity ratio, operating margin, working capital to total assets, earnings before interest and tax to total assets, net worth to debt, and asset-turnover ratio. The classification accuracy of the second and the third equations is 82 per cent while that of the first equation is only 57 per cent. It implies that the most widely used two ratios — current ratio and debt-equity ratio — are relatively poor in predicting the default companies. Similarly, the ROC accuracy ratio is the highest for Altman's equation whereas the variables considered in internal credit rating models of banks is having a relatively low accuracy ratio. To test the ability of the model in identifying the defaulting companies correctly, an unbiased diagnostic test of the model is conducted on two separate sets of defaulted firms. The results reveal the following : The Altman's model is capable of predicting default in most of the sample companies. The hold-out sample accuracy results show that the selected variables are capable of predicting default. The analysis shows that the financial risk factors being considered by banks in their internal rating models are not very effective in comparison to other two models in discriminating the firms into default and non-default categories. Banks can map the internal ratings with the Z-scores and scale this up to assign various credit ratings. By arriving at the coefficients on the basis of their own database, banks can develop Z-score calculators for various segments of borrowers.
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Kovalchuk, Tetyana, and Andriy Verhun. "IMPROVEMENT OF THE METHOD OF ANALYSIS OF ASSET MANAGEMENT EFFICIENCY." Baltic Journal of Economic Studies 5, no. 5 (February 8, 2020): 61. http://dx.doi.org/10.30525/2256-0742/2019-5-5-61-66.
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Assets are the key factor in the financial well-being of a business (the financial health of a business). Their composition and efficiency of use directly influence the end result of the enterprise's economic activity. Effective asset management can improve financial sustainability and increase the competitiveness of an enterprise. Therefore, in order to ensure financial sustainability and competitive advantage in the long run, it is necessary to address the challenge of continuous improvement in asset management. Financial analysis is an important tool for substantiating and controlling asset use decisions. As the turnover and return on assets depend to a large extent on the particularities of the industry and the conditions of business, the means of financial analysis must be tailored to specific situations. Therefore, the issues of improving the methods of financial analysis that would take into account the peculiarities of the activity of the enterprise are urgent. The purpose of this study is to substantiate a methodological approach to the analysis of asset utilization of Ukrainian bakeries. The methodological basis of this study is a system-based approach to solving the problems of analytical asset management. In generalizing the methodological principles of financial analysis of asset management effectiveness, techniques of abstract-logical method are used, namely: analysis and synthesis, induction and deduction, analogy and comparison. There were used methods of average and relative values, methods of modeling and factor analysis to make all the calculations; they were used to establish the relationship between the systems of financial indicators of asset efficiency. The calculation of the indicators of profitability and asset utilization in turnover was made according to the financial statements of Ukrainian bakeries. Asset management is aimed at increasing the efficiency of their use, the main generalization of which is the return on assets. The need to improve the methodology for analyzing the return on assets is due to the limited use of this indicator in the analysis of unprofitable enterprises on the one hand, and, on the other hand, to the need to take into account the specifics of the industry where the enterprise operates. Under conditions of loss, the asset return indicator distorted reflects the impact of its change factors, and industry features are reflected in different turnover rates of individual components of assets, and accordingly, in different intensity of their impact on profitability. The proposed approach is based on a multifactorial model that reflects the dependence of the asset on return to sales, non-current assets to sales, inventory to sales, accounts receivable to sales and cash assets to sales. The model determines the intensity of the impact on the return on assets of the partial indicators of the assets to sales. The calculations were made by a group of bakeries from different regions of Ukraine. As a criterion for assessing the effectiveness of asset management, it is proposed to use the average growth rate of partial indicators of the model of return on assets, which is determined taking into account the intensity of their impact. The specifics of the approach are more focused not on absolute indicators, but on indicators of dynamics, on the identification of trends. The advantage of the proposed indicator is the ease of interpretation, especially for the case of loss-making, which is peculiar for one third of the enterprises of the industry.
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Ptak-Chmielewska, Aneta. "Predicting Micro-Enterprise Failures Using Data Mining Techniques." Journal of Risk and Financial Management 12, no. 1 (February 10, 2019): 30. http://dx.doi.org/10.3390/jrfm12010030.
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Research analysis of small enterprises are still rare, due to lack of individual level data. Small enterprise failures are connected not only with their financial situation abut also with non-financial factors. In recent research we tend to apply more and more complex models. However, it is not so obvious that increasing complexity increases the effectiveness. In this paper the sample of 806 small enterprises were analyzed. Qualitative factors were used in modeling. Some simple and more complex models were estimated, such as logistic regression, decision trees, neural networks, gradient boosting, and support vector machines. Two hypothesis were verified: (i) not only financial ratios but also non-financial factors matter for small enterprise survival, and (ii) advanced statistical models and data mining techniques only insignificantly increase the prediction accuracy of small enterprise failures. Results show that simple models are as good as more complex model. Data mining models tend to be overfitted. Most important financial ratios in predicting small enterprise failures were: operating profitability of assets, current assets turnover, capital ratio, coverage of short-term liabilities by equity, coverage of fixed assets by equity, and the share of net financial surplus in total liabilities. Among non-financial factors only two of them were important: the sector of activity and employment.
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Janio, Indianies. "METODE DU PONT SYSTEM UNTUK MENILAI KINERJA KEUANGAN PADA PERUSAHAAN FOOD AND BAVERAGE YANG TERDAFTAR DI BEI PERIODE 2013-2016." JEBI | Jurnal Ekonomi Bisnis Indonesia 13, no. 1 (December 16, 2018): 1–11. http://dx.doi.org/10.36310/jebi.v13i1.91.
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The purpose of this study was to determine the company's financial performance by usingthe method du pont system. This study uses financial statement data for the 2012-2015 period anduses the Du Pont System method with a focus on research on ROE which is influenced by EquityMultiplier, ROI influenced by Net Profit Margin and Total Turn Over Assets. The companies studiedwere three Food and Beverage Companies listed on the Stock Exchange, namely PT. Mayora Indah,PT. Three Pillars of Prosperity Tbk and PT. Indofood CBP Sukses Makmur Tbk. The results showedthat the return on investment resulting from the net profit margin, PT Indofood CBP Sukses MakmurTbk had a fairly stable return on investment every year even though it had experienced a decline in2013 and 2014 but experienced a return and obtained the largest percentage of net profit margin inthe year 2015 compared to two other companies. Fluctuations in return on investment or ROI areinfluenced by many factors, such as net profit margins and total assets turnover. The net profit marginis derived from net profit (loss) divided by sales in each period, so that the net profit margin is affectedby the amount of sales, cost of goods sold, operating expenses which consist of sales expenses andgeneral and administrative expenses and other net expenses incurred in order to generate net incomein each period. Total assets turnover is also a factor that influences the rate of return on investmentROI obtained from sales divided by the total assets of the company each period. So that the totalassets turnover is influenced by the amount of assets owned by the company which consists of currentassets and non-current assets whose values differ in each period. Judging from the percentage ofROA generated from this study, PT Mayora Indah Tbk was able to produce the highest ROA and wasa very significant increase compared to the ROA generated in the previous year, because the resultswere almost twice the ROA of the previous year. PT Mayora Indah Tbk's Return On Equity is alsoconsidered good because of the highest ROE in each year compared to PT Tiga Pilar Sejahtera Tbkand PT Indofood CBP Sukses Makmur Tbk.
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Waskito, Meindro, and Dewi Hidayat. "ANALISIS KINERJA KEUANGAN SEBELUM DAN SESUDAH AKUISISI PADA PERUSAHAAN YANG TERDAFTAR DI BURSA EFEK INDONESIA (PERIODE 2011 – 2016 )." Kinerja 2, no. 02 (September 1, 2020): 149–72. http://dx.doi.org/10.34005/kinerja.v3i01.970.
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Abstract : The purpose of this research to determine the difference between the financial performance before and after the acquisition of a nonfinancial company listed on the Indonesia Stock Exchange using which is proxied with the ratio of finance current ratio, total assets turn over, return on equity, debt to equity ratio, earnings per share. The research period used is 2011-2016. The population in this study are companies that do acquisitions listed on the BEI. The sample selection of this research using non-probability sampling techniques, with purposive sampling approach. The sample size is 17 samples. The data used are secondary data. Tests conducted are the descriptive statistical test, normality test, and test wilcoxon signed-rank test. The data analysis used to test the hypothesis is by using a paired sample analysis differentiation technique. Based on the result of research indicate that there were significant differences in total assets turnover, return on equity, and earnings per share, while the current ratio and debt to equity ratio did not have a significant difference between before and after the acquisition.
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Malasari, D., M. Adam, Yuliani, and A. Hanafi. "Financial Ratios and Probability of Default by Using the KMV-Merton Method in the Non-Financial Sector listed on the Indonesia Stock Exchange." Finance: Theory and Practice 24, no. 1 (March 7, 2020): 6–13. http://dx.doi.org/10.26794/2587-5671-2020-24-1-6-13.
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This study aims to analyze the predictions of the default probability in the non-financial sector of the Indonesia Stock Exchange and the mutual influence between financial ratios. The KMV–Merton method was used for the calculations. The study was conducted on the example of data from 18 companies listed on the Indonesia Stock Exchange. The scientific materials and documentation were analyzed with the help of the EViews. The authors made the followingconclusions: Return on Equity (ROE) has no effect on the probability of default; Current Ratio (CR) has no effect on the probability of default; Debt to Equity Ratio (DER) has a positive effect on the probability of default; Total Assets Turnover (TAT) has a negative effect on the probability of default.
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Татар, Марина Сергіївна, and Анна Олександрівна Мозгова. "ОБЛІКОВО-АНАЛІТИЧНИЙ ІНСТРУМЕНТАРІЙ УПРАВЛІННЯ ОБОРОТНИМ КАПІТАЛОМ ПІДПРИЄМСТВ В УМОВАХ ГЛОБАЛЬНИХ ВИКЛИКІВ." TIME DESCRIPTION OF ECONOMIC REFORMS, no. 4 (December 29, 2021): 52–61. http://dx.doi.org/10.32620/cher.2021.4.08.
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Global challenges cause many social and economic transformations in the economic entities activities, especially related to current assets, including disruptions in the inventories supply, increasing receivables due to breach of payment discipline of counterparties due to reduced sales of their own products during quarantine measures, reduced consumer solvency, devaluation of fiat money, etc., which makes it impossible to repay the debt on time, and the growth of receivables leads to the inability to repay their own accounts payable. The aim of the research is improvement the methodology and organization of accounting, analysis and audit of enterprise current assets in the face of global challenges. The subject of the research is the process of current assets formation and usage of PJSC "FED". The methods of the research: observation, comparison, analysis, generalization and formalization, rationing, forecasting. The hypothesis of the research: improving the process of accounting, analysis and internal audit of current assets will increase the efficiency of their formation and usage. The statement of basic materials. For increasing the efficiency of the process of current assets formation and usage in the context of global challenges, a conceptual approach to their accounting and analysis has been developed. The forecasting of current assets value of PJSC "FED" for the next two years was carried out with the help of trend analysis, as a result of which it was determined that the value of current assets will increase. For optimization the inventories formation and usage, the ABC-analysis has been implemented, which makes possible to accurately calculate the required volumes of purchases by different product groups; to exclude from the nomenclature illiquid positions, which makes possible to release cash frozen in these goods, reduce warehousing costs, increase inventory turnover; ensure sales growth. To improve the system of accounting for receivables at PJSC "FED" it is proposed to open six sub-accounts to account 38 "Provision for doubtful debts", as well as to improve analytical accounting by introducing groups of debtors in terms of non-repayment of receivables. Differentiation of ways to increase the efficiency of current assets formation and usage depending on the stage of the operating cycle is proposed. Also it is proposed to conduct current assets internal audit, which will verify the security of current assets, compliance with the rules and requirements of their accounting, documentation, reliability of information. The originality and practical significance of the research: originality lies in the development of methodological principles of production enterprise current assets accounting and analysis, identifying the lack of sources of own working capital. The conclusions and proposals obtained as a research results can be used in the practice of the production enterprise of PJSC "FED" to improve the efficiency of current assets accounting, analysis and audit. Conclusions. The proposed measures will help to improve the efficiency of current assets formation and usage, in particular, to reduce accounts receivable and improve the inventories formation quality
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Mariia Lutsyk. "CURRENT STATE OF CASH CIRCULATION AND CASHLESS CALCULATIONS." European Cooperation 2, no. 46 (April 30, 2020): 41–54. http://dx.doi.org/10.32070/ec.v2i46.84.
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This study contributes to the scientific literature, emphasizing the urgency of the problem of withdrawal of funds from circulation, reducing cash turnover in the economies of different countries in order to minimize the risks associated with its use. Reducing cash flow is a task that requires solving economic, political, social, administrative, psychological problems. The general decrease in the volume of cash will lead to lower inflation, the risk of money laundering, terrorist financing, improve the investment climate, liberalize the credit market and more. Despite the rather long time during which the chosen topic is researched by scholars and studied in practice at the level of states, intergovernmental associations, banks, there is still a significant share of cash transactions with a general tendency to increase non-cash transactions both in number and amount. . Therefore, it is important to obtain and analyze relevant information, review forecasts, clarify plans, which is why this study is primarily devoted. The transition to non-cash payments is associated with a number of obstacles and challenges, so the author analyzes the determinants of implementation and the effectiveness of non-cash turnover substantiates which socio-economic factors constrain the use of non-cash transactions. The demand for the use of non-cash payments depends on the level of use of funds in the country, and on how quickly society will be able to give up physical money. The positive aspects of the impact of non-cash circulation on the country's economy, public administration, industry and society have been identified. Statistics show that the preference for certain types of payment instruments, cash or non-cash payment depends on the level of economic development of the country, traditions, habits and areas of economic activity in societies. This article considers and analyzes the current state of cash circulation in individual countries, the ratio of cash to total assets of global technology companies from 2007 to 2019; cash use forecasts in different countries are displayed. In addition, the issue of cybersecurity, which should be given special attention when it comes to payments using special means of payment in general, and on the Internet in particular, is not ignored.
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Barabash, Nataliia, and Tetiana Pashkuda. "FORECASTING CHANGES IN THE STRUCTURE OF ASSETS AND CAPITAL OF AGRICULTURAL ENTERPRISES." Economics & Education 6, no. 2 (August 27, 2021): 52–57. http://dx.doi.org/10.30525/2500-946x/2021-2-9.
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The purpose of the study is to develop methodological approaches to forecasting changes in the structure of assets and capital of agricultural enterprises. Methodology. The information base of the article is presented by scientific works of domestic and foreign scientists. The research is based on scientific methods, among which it is expedient to distinguish: analysis and synthesis, comparison, idealization, and abstraction, as well as systematization and generalization – during the formulation of conclusions as a result of the study. Results. It is established that the agricultural sector of Ukraine has significant potential for further growth, but a number of problems hinder its development. Today, the stimulus is the system of land use and land relations, put into effect by lifting the moratorium on land sales. At present, the consequences of such reforms are unpredictable, as there are no clear and transparent rules of the «game» in the sector. It is found out that the most powerful participants in the agricultural market are agricultural holdings, which determine one of the goals of their activities is the development of infrastructure and expansion of influence in foreign markets. In modern economic conditions, the agricultural sector brings 15-20% of Ukraine's GDP annually, and despite the crisis of recent years, provides the population with high-quality products of its own production. Practical implications. One of the main problems in the implementation of working capital management policy is to determine the required amount and optimal composition, which is able to ensure the continuity of the enterprise, the maximum level of efficiency of funds. These problems are solved by forecasting the structure of working capital and forecasting its optimal amount. The urgency of the issue increases due to the fact that the problem of predicting the optimal size and structure of assets and capital challenges is caused by macroeconomic and macro-financial instability. Value/originality. Methodical approaches to forecasting changes in the structure of assets and capital are considered. It is proposed to use a system of indicators for calculations, including the following: growth rate of production and sales, a growth rate of product prices, projected operating costs, non-current assets at the beginning of the forecast period, projected investment, average depreciation rate of non-current assets, duration of production turnover inventories, the duration of collection of receivables, the average share of retained earnings in total profit from sales, the basic volume of production and sales, registered and annual invested capital of the enterprise.
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Lestari, Annisa Ayu, and Dwi Endah Kusrini. "Analisis Financial Distress Menggunakan Regresi Data Panel." Seminar Nasional Official Statistics 2021, no. 1 (November 1, 2021): 264–73. http://dx.doi.org/10.34123/semnasoffstat.v2021i1.855.
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Sebuah perusahaan tentunya ingin menghindari kondisi-kondisi yang dapat mengakibatkan kebangkrutan, salah satu kondisi yang dapat menempatkan perusahaan dalam bahaya kebangkrutan adalah financial distress. Penelitian ini bertujuan untuk mendeskripsikan financial distress dan mengetahui faktor-faktor yang mempengaruhinya pada perusahaan ritel. Penelitian ini dilakukan pada perusahaan-perusahaan subsektor ritel pada periode 2015 hingga 2019 menggunakan metode regresi data panel. Variabel prediktor yaitu current ratio (CR), net profit margin (NPM), total assets turnover (TATO) dan price to book value (PBV). Rasio keuangan yang digunakan untuk mengukur financial distress adalah debt service coverage ratio (DSCR). Hasil analisis menunjukkan perusahaan pada sektor barang konsumen non-primer dibandingkan primer lebih banyak yang mengalami financial distress. NPM berpengaruh signifikan terhadap DSCR, sedangkan CR, TATO dan PBV tidak berpengaruh signifikan terhadap DSCR. Koefisien determinasi dari model terpilih sebesar 83,90%.
Kata kunci: Financial Distress, Regresi Data Panel, Ritel
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Dabo, Abdoulaye, and Judith A. Laux. "A Probability Model For Earnings Restatement." Journal of Business & Economics Research (JBER) 10, no. 11 (October 26, 2012): 593. http://dx.doi.org/10.19030/jber.v10i11.7358.
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<span style="font-family: Times New Roman; font-size: small;"> </span><p style="margin: 0in 0.5in 0pt; text-align: justify;" class="MsoNormal"><span style="font-family: Times New Roman;"><span style="font-size: 10pt;">Given their prevalence in recent years, earnings management and financial restatements have been at the center of much of the discussion surrounding corporate malfeasance.<span style="mso-spacerun: yes;"> </span>This study builds a probability model for predicting the likelihood of earnings restatements by analyzing the trends in and the deviations from the industry averages of the return on assets, accounts receivable turnover, net profit margin, and operating cash flow to net income measures.<span style="mso-spacerun: yes;"> </span>Data are obtained for a sample of 104 firms (restating as well as non-restating) for the 2000 to 2001 period.<span style="mso-spacerun: yes;"> </span>The results suggest that deviations from the industry average of the accounts receivable turnover and the variability in the cash flow to net income provide good barometers for detecting fraudulent accounting.<span style="mso-spacerun: yes;"> </span></span><span style="font-size: 10pt; mso-fareast-font-family: "Times New Roman"; mso-fareast-theme-font: minor-fareast;">Potential restating firms have higher accounts receivable turnover rates than their industry counterparts and downward trends in their cash flow to net income, so an increase (decrease) in the accounts receivable turnover (operating cash flow to net income) significantly increases the likelihood of a restatement, at least in the current study.</span></span></p><span style="font-family: Times New Roman; font-size: small;"> </span>
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Mau, Ignatia Thomasita Bau, Atim Djazuli, and Helmy Djawahir. "CONSTRUCTION OF THE SUCCESS FACTORS OF IKAT WEAVINGS (A CASE STUDY OF AN IKAT WEAVING CRAFTSMAN UNDER THE BIA BEREK IKAT WEAVING GROUP – BELU REGENCY)." Jurnal Ilmu Sosial dan Humaniora 10, no. 3 (December 1, 2021): 407. http://dx.doi.org/10.23887/jish-undiksha.v10i3.34403.
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This study discusses the success factors in running a woven handicraft business experienced and immediately felt by several ikat craftsmen in one group of Bia Berek weaving in the city of Atambua, Belu Regency, East Nusa Tenggara. This is to direct the informant to answer all the success factors that have occurred and let the qualitative research model be used as a method in this research. The research used semi-structured interviews, and the informant reveals as widely as possible the informant regarding other factors that are also the key to success in running a business. These success factors include the proper management of current assets (supplies of woven fabrics) and fixed assets (weaving equipment and equipment and business premises), the ability to manage business turnover, cash flow management, the ability to process all business costs in the cost structure, management of revenue on weaving business, having personal savings and investing in non-bank financial services, increasing the marketing of woven fabrics, using technology for business innovation in the digital world, prioritizing the quality of woven fabrics produced, utilizing culture and tradition as business opportunities and potential, building profitable cooperation with local government of Belu Regency. The twelve factors that have been classified into financial and non-financial factors are constructed in a new model design that can be used as learning materials for micro, small and medium enterprises in improving their business by taking into account all the success factors that occur in their business.
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Camska, Dagmar, Jiri Klecka, and Hana Scholleova. "Influence of age on selected parameters of insolvent companies." Problems and Perspectives in Management 19, no. 2 (May 6, 2021): 77–90. http://dx.doi.org/10.21511/ppm.19(2).2021.07.
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It is natural for the market economy that companies are forced to leave the market when they are not able to survive anymore. This paper is focused on the age structure of the companies in default. The age is considered a period between corporate establishment and insolvency declaration. The paper analyzes whether companies, which report financial accounting statements, have different age structure than non-reporting entities. Data sample consists of 212 companies (147 reporting and 65 non-reporting entities). Moreover, the analysis points out if corporate financial standing differ according to the age structure observed. Using descriptive statistics tools, the observed relationship between the company age and the frequency of insolvency cases is expressed. The evaluation of the financial standing is based on a ratio analysis. Indicators such as return on assets, return on sales, debt ratio, cash and non-cash liquidity, and asset turnover are applied. The results show there are not significant differences in the age structure between the reporting and non-reporting enterprises. Values of financial indicators seem to be independent on the age structure. The paper provides explanations and brings a classification of specific differences observed such as a distinction between reasons due to sector specificities and partly due to the specifics of the current business environment in the Czech Republic (monitored period 2014 – first quarter 2019). AcknowledgmentsThe authors are thankful to the Grant Agency of Academic Alliance (renamed the Grant Agency Academia Aurea) No. GAAA 10/2018 “Financial characteristics of enterprise in bankruptcy” for financial support to carry out this research.
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Wojewoda, Ewelina, and Emilia Truskolaska. "Fałszerstwa dzieł sztuki – wybrane aspekty prawnokarne." Studia Prawnoustrojowe, no. 43 (October 26, 2019): 349–59. http://dx.doi.org/10.31648/sp.4645.
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With the practice of falsification works of art we are dealing for centuries. Basically since they just appeared. It is very difficult to determine thescale of this crime. These items are threatened by the phenomenon of counterfeiting due to the fact that they have not only the value of assets but alsothe non-pecuniary value: artistic, aesthetic and historical. Occurrence on the market of counterfeits is a serious threat fot the collectors and for a properfunctioning art market. In the Polish legal system protection of works of art against falsification ensure the regulations contained in the Act of 6 June1997. – Criminal Code and the Act of 23 July 2003. On the protection historic monuments and care of monuments. This paper presents a protection systemof works of art in our country against the practice of falsification by analyzing the constituent elements of criminal offenses involving the forgeryof works of art and turnover of fakes. The summary also highlights the imperfection of the current system and the lack of adequate protection of worksof art which are not monuments.
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Mateos-Ronco, Alicia, and Sandra Guzmán-Asunción. "Determinants of financing decisions and management implications: evidence from Spanish agricultural cooperatives." International Food and Agribusiness Management Review 21, no. 6 (July 14, 2018): 701–21. http://dx.doi.org/10.22434/ifamr2016.0178.
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The unique characteristics of agricultural cooperatives are likely to affect the availability of the funding they can access. This paper analyses the determining factors behind the financing decisions made in these cooperatives, and the management and organisational implications these decisions have for these entities. Financial information obtained from a sample of 106 Spanish agricultural cooperatives was used to calculate the variables that modelled the research hypotheses, which were then introduced into regression models to determine which ones had a significant effect on their financing decisions. According to the economic theory of cooperativism, the results show that these entities come closer to the pecking order theory, i.e. policies that maximise the prices received by members to the detriment of the entity’s self-financing abilities, coupled with restrictions on cooperatives’ equity capital that may lead them to use debt to fund growth. The results also show positive relationships between cooperatives’ indebtedness and other factors, such as investments in non-current assets, liquidity and cooperative size in terms of turnover per member.
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Alarussi, Ali Saleh, and Sami Mohammed Alhaderi. "Factors affecting profitability in Malaysia." Journal of Economic Studies 45, no. 3 (August 13, 2018): 442–58. http://dx.doi.org/10.1108/jes-05-2017-0124.
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PurposeThe purpose of this paper is to examine the factors affecting profitability in Malaysian-listed companies. It has been argued that profitability is the main pillar for any company to survive in the long run. Although profitability is the primary goal of all business ventures, scant attention has been paid to the factors that affect profitability in developing countries. This study investigates the factors affecting profitability in Malaysian-listed companies.Design/methodology/approachThis research is based on five independent variables that were empirically examined for their relationship with profitability. These variables are: firm size (as measured by total sales), working capital (WC), company efficiency (assets turnover ratio), liquidity (current ratio) and leverage (debt equity ratio and leverage ratio). Data of 120 companies listed on Bursa Malaysia covering the period from 2012 to 2014 were extracted from companies’ annual reports. Pooled ordinary least squares regression and fixed-effects were used to analyze the data.FindingsThe findings show a strong positive relationship between firm size (total sales), WC, company efficiency (assets turnover ratio) and profitability. The results also show a negative relationship between both debt equity ratio and leverage ratio and profitability. Liquidity (current ratio) has no significant relationship with profitability.Research limitations/implicationsDue to the time limitation, the data includes only 120 companies listed in bursa Malaysia and covers the period from 2012 to 2014.Practical implicationsThese results benefit internal users (such as mangers, shareholders and employees). They can realize the determinants of enhancing the profitability of their company after the depreciation of the Malaysian currency and therefore concentrate more on the factors that enhance their companies’ profitability. On the other side, other external users (such as investors, creditors, new established companies, tax authority) also may get advantages of these results. It is clear that those users concern about the profitability of companies and the determinants of their profitability after the currency’s depreciation.Originality/valueThis study differs than previous studies in many ways: first, it focuses on non-financial listed companies in Malaysia. Previous studies have concentrated on companies in the financial sector, such as banking and financial institutions or on industrial organizations. Second, this study analyzes the data in companies’ annual reports for a three-year period from 2012 to 2014. During this period, the economy in Malaysia was fluctuating due to currency depreciation. Third, the study used both return on equity and earnings per share as indicators of profitability. Fourth, the results of the study provide empirical evidence that large size firms with efficiently managed assets can improve operating income and ultimately enhance profitability. Last but not least, this study applies the resource-based theory and the trade-off theory.
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Bogacheva, Olga Viktorovna, and Oleg Alekseevich Lepekhin. "BANKS OF THE CASPIAN REGION COUNTRIES IN THE BANKING SYSTEM OF RUSSIA: CURRENT TRENDS AND DEVELOPMENT PROBLEMS." Krasnoyarsk Science 8, no. 3 (September 25, 2019): 7–28. http://dx.doi.org/10.12731/2070-7568-2019-3-7-28.
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The mutual penetration of capital from one country into another has become a characteristic feature of the world financial system. This is largely due to the current globalization processes in the global economy, the continuous development of banking technologies, the need to maintain foreign economic activity of business entities and the rationale for expanding the scales of business activity as a tool to increase operating efficiency. The purpose of the article is to study the current internalization process in the banking systems of the Caspian region countries in terms of the penetration of the banks from the Caspian region countries into the Russian banking sector. Methodology. We have identified the sample of the Russian credit institutions fully controlled by the shareholders from the Caspian region states. Using the data, presented in turnover balance reports (Form 101), we have calculated key performance indicators in 2015–2018. We used the Bank of Russia’s practice to estimate the aggregate balance sheet of the 30 largest credit institutions as the basis for our algorithm. We have analyzed tendencies in funding base, structure of assets and operating efficiency. Results. The analysis of the financial statements shows that within the chosen business model, the banks of the sample are more likely to focus on international financial settlements, servicing foreign trade transactions, than on traditional types of banking business such as lending to non-financial enterprises and individuals. Their performance is significantly lower than the industry benchmarks, which so far does not allow us to expect an increase in their scale of presence in the Russian market in the near future. Practical implications. The analysis of current processes in the field of internationalization of banking systems can be used to assess the financial and economic integration of the countries of the Caspian countries and to develop corrective measures aimed at its further development and deepening.
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Filatov, Evgeniy A. "Integral Analysis of RCA of Irkutsk Region Companies." SHS Web of Conferences 110 (2021): 01003. http://dx.doi.org/10.1051/shsconf/202111001003.
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The financial position of a company depends on its liquidity, or otherwise, on how soon the funds invested in the assets turn into real money. The growth of non-payments complicates the company’s rhythmic activities (purchase of raw materials, payment of labor and other expenses generated from revenue) and leads to an increase in accounts receivable. At the same time, excessive diversion of funds to production stocks, work in progress, finished products, etc. leads to the deadening of resources and inefficient use of working capital. Successful solution of the problem of working capital optimization can significantly increase the financial stability of the company, refinance and repay the debt, and significantly facilitate debt restructuring. Therefore, effective management of the company’s working capital is the key to increasing the turnover of property and sales volumes. It involves not only the search for and attraction of additional sources of financing, but also their rational placement in the current assets of the company. The article presents the author’s model of analyzing the profitability of working capital. The article reveals the influence of factors affecting the profitability of working capital and author’s methodical approach to his calculations (method # 2 integral factor analysis, developed by Filatov E.A.). The article presents the author’s analytical, systematic statistical analysis of key performance indicators reveal the influence to change the profitability of working capital of the companies in the Irkutsk region of the Russian Federation.
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Nefyodov, V., and O. Kalinichenko. "CURRENT STATUS AND CURRENT PROBLEMS OF THE CONSUMER GOODS DELIVERY BY AUTOMOBILE TRANSPORT IN CITIES." Municipal economy of cities 3, no. 156 (July 1, 2020): 17–21. http://dx.doi.org/10.33042/2522-1809-2020-3-156-17-21.
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In a market economy, it becomes relevant to improve the organization management. The aim of solving this problem is to reduce the cost of production in order to increase its sales and increase competitiveness in the consumer goods market. The current state of retail trade in Ukraine in terms of the enterprises development their shares in the total volume of trade, the use of business organization advanced principles, experts assess as rapidly developing. Even modern crisis phenomena in the economy are not of the nature that can change the trends in the qualitative transformations of retail trade. The article analyzes the consumer goods market in Ukraine, which is developing most dynamically. It was found that the consumer goods market capacity has more than tripled recently and has a steady tendency towards further growth. At the same time, in addition to quantitative changes, this market is undergoing qualitative changes, which consist in changing the ratio between food and non-food products, as well as in changing the share of trade enterprises commodity circulation. Existing approaches to organizing the supply chain, based on the idea of turnover as a continuous flow of materials, cannot provide the necessary efficiency of the supply chain due to the fact that they do not take into account very influential factors, such as the relatively long time between adjacent deliveries, the likelihood of a return on the products share and forwarding batch supplies. Therefore, the most appropriate is the presentation by the material flow of consumer goods as a partially ordered movement of goods individual discrete components, which are significantly influenced by both internal (rationalization of marketing and logistics assets in the promotion of material flows, rationalization of inventory management systems, the need for redistribution of stocks between parts of the supply chain), and external (competitive environment, social and geopolitical factors, level of service) factors. Keywords: consumer goods, delivery, automobile transport.
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Nanda, Swagatika, and Ajaya Kumar Panda. "A quantile regression approach to trail financial performance of manufacturing firms." Journal of Applied Accounting Research 20, no. 3 (September 12, 2019): 290–310. http://dx.doi.org/10.1108/jaar-06-2018-0091.
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Purpose The purpose of this paper is to track the financial performance of manufacturing firms at different levels of their conditional quantiles. It also analyzes the relevance of revenue and cost channels along with key firm-specific parameters that influence firm’s profitability. Design/methodology/approach The study analyses a sample of 1,000 manufacturing firms over a study period spanning from 2000 to 2016. It uses both quantile regression and panel ordinary linear square (OLS) models to analyze the financial performance of the firms. Findings The study finds large scale of heterogeneity among the firms under different quantiles of profitability. Export earnings, firm size, asset turnover and volatility of exchange rate are the decisive determinants of financial performance across all quantiles. Financing assets by current debt is negatively impacting return on assets and return on capital employed of firms from lower quantile whereas profitability is positively impacted if they are financed by long term debt. Debt financing of assets does not make any sense for firms with high quantile of profitability. The study also finds that quantile regression approach is a better method than panel OLS models in the presence of highly heterogeneous and non-normal distributions. Research limitations/implications This study is limited to the financial performance of manufacturing firms and does not consider service sector which is also equally competitive. However, a sector wise analysis of firm’s profitability could be more meaningful than comparing all the firms in one basket of manufacturing domain. Practical implications The research findings have both practical as well as policy implications. Practically, the study helps the firm managers to identify critical success factors that significantly influence firm’s financial performance at different levels of profitability. It also helps the policy makers to align policy focus to stabilize firms at lower level of profitability and also to manage conducive business environment for all firms at different levels of their profitability. Originality/value The study provides a deep theoretical underpinning of literatures on firm’s financial performance and empirically investigates it using advanced methodology. The robust estimates of the study ensure to analyze financial performance under revenue and cost channels at diverse level of their profitability.
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Muhacheva, Anna. "Financial Analysis of an Industrial Enterprise." Bulletin of Kemerovo State University. Series: Political, Sociological and Economic sciences 2019, no. 4 (December 30, 2019): 415–24. http://dx.doi.org/10.21603/2500-3372-2019-4-4-415-424.
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Financial analysis is important for effective management: it provides growth reserves and eliminates those problem areas that can decrease key financial indicators and result in bankruptcy. The present research featured theory and practice of financial analysis of an enterprise. The paper represents a case study of Kuzbassrazrezugol OJSC, one of the leading coal mining enterprises in the country (Kuzbass, Russia). The research objective was to analyze its financial status, identify problem areas, and propose solutions. The research employed coefficient, vertical, and horizontal analysis, as well as general methods of analysis, synthesis, grouping, and generalization of data. The article introduces authentic approach to the term “financial status” and gives various scientific interpretations of the term. The paper focuses on factors, key indicators of financial analysis, and degrees of financial stability. Financial analysis includes assessment of financial stability, business activity, liquidity, and profitability. The author compiled a list of indicators for each section of financial analysis. The case study revealed that the company under analysis has a fairly strong financial position. The list of minor problems revealed included: superiority of short-term financial sources; high share of borrowed funds in the overall structure of funding sources; high share of non-current assets in the structure of the company’s property; high volume and low turnover of receivables. For each problem, the author proposed an appropriate solution. The financial analysis revealed problem areas and provided guidelines for further long-term effective development. The article owes its scientific novelty to the case study which revealed peculiarities in strategies for managing the financial status of coal mining enterprises.
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Calista, Margaret, and Indra Widjaja. "Pengaruh Current Ratio, Return On Asset, Return On Equity, Debt To Equity Ratio, Total Turnover Asset, dan Dividend Policy Terhadap Harga Saham." Jurnal Manajemen Bisnis dan Kewirausahaan 3, no. 5 (November 29, 2019): 13. http://dx.doi.org/10.24912/jmbk.v3i5.6074.
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This study aims to analyze factors that affect the stock price that are listed in BEI within a period between year 2012 to 2015. This research is a study to determine the influence between Current Ratio, Return on Asset, Return on Equity, Debt to Equity Ratio, Total Turnover Asset, and Dividend Policy towards stock price. The population used in this research are all manufacture companies that are listed in BEI during the research period. The samples are collected by using the purposive sampling method. This research used multiple linear regression, with t-statistic test, F-statistic test, and adjusted coefficient of determination to determine the truth about hypotheses. The result of this research are Return on Equity has significant effect on the stock price, while Current Ratio, Return on Asset, Debt to Equity Ratio, Total Turnover Asset, and Dividend Policy has non-significant effect on the stock price. Together, Current Ratio, Return on Asset, Return on Equity, Debt to Equity Ratio, Total Turnover Asset, and dividend policy have significant effect on stock price.
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., Endri. "Determinan Internal Harga Saham Perusahaan Bumn Non Bank yang Terdaftar di Bursa Efek Indonesia." ULTIMA Accounting 10, no. 2 (January 29, 2019): 124–37. http://dx.doi.org/10.31937/akuntansi.v10i2.976.
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The capital market is a place for companies to raise capital by offering shares to the public. Fundamental analysis believe that the performance of the company issuing the shares will greatly affect a company's value. By By Keputusan Menteri Badan Usaha Milik Negara Nomor: KEP-100/MBU/2002 has set the terms of the provisions of the company's performance seen over the soundness of State-Owned Enterprises.The results showed (1) Return On Equity (ROE) partially has a positive and significant impact on stock prices, (2) Return on Investment (ROI) partially has a negative and significant impact on stock prices, (3) Cash Ratio partially has a positive and significant impact on stock prices, (4) Current Ratio partially has a positive and significant impact on stock prices, (5) Collection Periods (CP) partially has a negative and significant impact on stock prices, (6) Inventory Turnover (PP) partially has a positive and significant impact on stock prices, (7) Total Asset Turnover (TATO) partially has a negative and significant impact on stock prices, (8) Total Equity against Total Assets (TMS against TA) partially have positive and significant impact on stock prices, and (9) Return on Equity (ROE, Return on Investment (ROI), Cash Ratio, Current Ratio, collecti on Periods (CP), Inventory Turnover (PP), Total Asset Turnover (TATO) and Total Equity Against TA (TA TMS) have a simultaneous effect on on stock price. Keywords: Stock prices, financial performance, data panel regression model, State-Owned Enterprises
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WIJAYA, NOVIA. "Faktor-faktor yang mempengaruhi kebijakan dividen pada perusahaan non keuangan." Jurnal Bisnis dan Akuntansi 19, no. 1 (April 17, 2018): 92–102. http://dx.doi.org/10.34208/jba.v19i1.68.
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The purpose of this research is to analyze the factors affecting on dividend policy of non financial company that listed in Indonesian Stock Exchange for period 2011 until 2013. This research use return on equity (ROE), current ratio (CR), debt to equity ratio (DER), sales growth (SG), investment opportunity set (IOS), size of firm (SIZE), and total asset turnover (TATO). The data are collected from 99 non financial company listed at Indonesian Stock Exchange (BEI) and the observation period are three years. Sampling method used is purposive sampling and data analysis with multiple linear regression. Empirical evidence shows that, sales growth has influence to dividend policy and return on equity, current ratio, debt to equity ratio, investment, size firm, and total asset turnover have not influence to dividend policy.
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Hendawati, Henda. "ANALISIS CURRENT RATIO, DEBT TO EQUITY RATIO DAN TOTAL ASSET TURN OVER TERHADAP RETURN ON EQUITY." Jurnal SIKAP (Sistem Informasi, Keuangan, Auditing Dan Perpajakan) 1, no. 1 (April 20, 2017): 97. http://dx.doi.org/10.32897/jsikap.v1i2.52.
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Keberhasilan kinerja keuangan perusahaan dapat diukur dari Return On Equity (ROE) yang diberikan oleh perusahaan tersebut. ROE merupakan tuntutan pemberi dana (investor) kepada manajemen perusahaan untuk mampu memperoleh laba bersih (net profit) dari dana yang diinvestasikan kedalam perusahaan, sebagai bentuk pertanggung jawaban kinerja manajemen. Besarnya net profit dipengaruhi oleh beberapa faktor seperti Current Ratio (CR), Debt to Equity Ratio(DER) dan Total Asset Turnover (TAT). Fokus masalah penelitian ini adalah menjelaskan bagaimana kondisi CR, DER, TATdanROE serta bagaimana pengaruh variabel-variabel tersebut terhadap ROE. Penelitian ini bertujuan untuk mengetahui, mengkaji dan menganalisis kondisi CR, DER, TAT dan ROE pada Badan Usaha Milik Negara (BUMN) Tbk., baik parsial maupun simultan selama periode penelitian. Objek penelitian dilakukan pada (BUMN) Tbk. non Bank. Metode penelitian yang digunakan adalah metode Descrisptive dan Verificative, yang dideskriptifkan dalam Current Ratio, Debt To Equity Ratio, Total Asset Turnover dan Return On Equity, sedangkan yang diverifikatifkan adalah pengaruh Current Ratio, Debt To Equity Ratio dan Total Asset Turnover terhadap Return On Equity. Populasi penelitian ini adalah 11 (BUMN) Tbk., untuk periode tahun 2005 - 2010. Hasil penelitian secara umum kondisi rata-rata CR, DER, TAT dan ROE periode tahun 2005 - 2010 mengalami fluktuatif. Berdasarkan hasil pengujian hipotesis, CR menunjukkan secara parsial tidak mempunyai pengaruh terhadap ROE, dan DER menunjukkan secara parsial mempunyai pengaruh terhadap ROE, sedangkan TAT menunjukkan secara parsial tidak mempunyai pengaruh terhadap ROE. Secara simultan bahwa variabel CR, DR dan TAT tidak mempunyai pengaruh terhadap variabel ROE.
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Hendawati, Henda. "ANALISIS CURRENT RATIO, DEBT TO EQUITY RATIO DAN TOTAL ASSET TURN OVER TERHADAP RETURN ON EQUITY." Jurnal SIKAP (Sistem Informasi, Keuangan, Auditing Dan Perpajakan) 1, no. 1 (April 20, 2017): 97. http://dx.doi.org/10.32897/sikap.v1i2.52.
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Keberhasilan kinerja keuangan perusahaan dapat diukur dari Return On Equity (ROE) yang diberikan oleh perusahaan tersebut. ROE merupakan tuntutan pemberi dana (investor) kepada manajemen perusahaan untuk mampu memperoleh laba bersih (net profit) dari dana yang diinvestasikan kedalam perusahaan, sebagai bentuk pertanggung jawaban kinerja manajemen. Besarnya net profit dipengaruhi oleh beberapa faktor seperti Current Ratio (CR), Debt to Equity Ratio(DER) dan Total Asset Turnover (TAT). Fokus masalah penelitian ini adalah menjelaskan bagaimana kondisi CR, DER, TATdanROE serta bagaimana pengaruh variabel-variabel tersebut terhadap ROE. Penelitian ini bertujuan untuk mengetahui, mengkaji dan menganalisis kondisi CR, DER, TAT dan ROE pada Badan Usaha Milik Negara (BUMN) Tbk., baik parsial maupun simultan selama periode penelitian. Objek penelitian dilakukan pada (BUMN) Tbk. non Bank. Metode penelitian yang digunakan adalah metode Descrisptive dan Verificative, yang dideskriptifkan dalam Current Ratio, Debt To Equity Ratio, Total Asset Turnover dan Return On Equity, sedangkan yang diverifikatifkan adalah pengaruh Current Ratio, Debt To Equity Ratio dan Total Asset Turnover terhadap Return On Equity. Populasi penelitian ini adalah 11 (BUMN) Tbk., untuk periode tahun 2005 - 2010. Hasil penelitian secara umum kondisi rata-rata CR, DER, TAT dan ROE periode tahun 2005 - 2010 mengalami fluktuatif. Berdasarkan hasil pengujian hipotesis, CR menunjukkan secara parsial tidak mempunyai pengaruh terhadap ROE, dan DER menunjukkan secara parsial mempunyai pengaruh terhadap ROE, sedangkan TAT menunjukkan secara parsial tidak mempunyai pengaruh terhadap ROE. Secara simultan bahwa variabel CR, DR dan TAT tidak mempunyai pengaruh terhadap variabel ROE.
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Vladimir, Loginov, Ignatieva Margarita, Iurak Vera, and Drozdova Irina. "Drive-in drive-out method of employing people for Arctic oil and gas resources exploration." Izvestiya vysshikh uchebnykh zavedenii Gornyi zhurnal, no. 5 (August 6, 2020): 66–79. http://dx.doi.org/10.21440/0536-1028-2020-5-66-79.
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Research relevance. Main Russian reserves, including oil and gas, are currently focused at northern and Arctic territories. Their exploration requires all necessary assets: labor, non-human, and financial. People employment for oil and gas deposits exploitation is connected with a drive-in drive-out method first of all. Personnel employment plan reliability should take into account the drive-in drive-out method development trends and existing contradiction overcoming. Research aim is to analyze the use of the drive-in drive-out method as applied to oil and gas fields development in the conditions of the North and Arctic by the example of the Yamalo-Nenets Autonomous District, determine the developing trends and existing contradictions requiring overcoming. Research methodology includes generalization and analysis of the data on drive-in drive-out method application, as well as the methods of matching, grouping, averaging, and analog. Results. In course of research the practicability of drive-in drive-out as a method of employing people for oil and gas resources exploitation. Time-dependent changes in the drive-in drive-out method application have been revealed (total and relevant number of workers, change in the composition of drive-in drive-out employees, the share of regional drive-in drive-out, and change in the composition of foreign labor). The prerequisites for the drive-in drive-out method have been formulated; they have first been conditioned on the lack of qualified workers among local population and the legacy of the Soviet period when the professional training of skilled personnel was not given due attention. The current situation with the drivein drive-out method of employing people is characterized by the distribution of drive-in drive-out workers across the territory of the Yamalo-Nenets autonomous district, depending on the location of the developed and potential oil and gas fields, as well as the historically formed contour of urban and rural settlements: the oil and gas producing south, the developed gas producing central regions, the transport and logistics hub with the mining Polar Urals, new arctic (peripheral) oil and gas producing regions, developing east 78 "Izvestiya vysshikh uchebnykh zavedenii. Gornyi zhurnal". No. 5. 2020 ISSN 0536-1028 and depressive southwest. The contradictory aspects of the drive-in drive-out method have been established. The practicability of drive-in drive-out from an economic point of view raises no objections. The social aspect is assessed negatively (the social aspect includes work organization, turnover, the sociopsychological situation; the medical aspect includes constant acclimatization and re-acclimatization). The negative impact on the growth of unemployment has not been confirmed. There must be no unreasonable limitation of the drive-in drive-out method, especially as the current situation will objectively require an increase in drive-in drive-out scale. Summary. Drive-in drive-out method of employing people for oil and gas resources exploitation is generally accepted and applied both in home and abroad. Drive-in drive-out scale should be noted. Under these conditions, in order to increase the reliability of investments plan related to the labor support of projects, it is necessary to take into account the identified trends in drive-in drive-out development and provide for measures to prevent or mitigate the identified contradictions of the drive-in drive-out method.
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Amatilah, Fitriah Fatimah, Mochamad Edman Syarief, and Banter Laksana. "Perbandingan Kinerja Keuangan Sebelum dan Sesudah Merger dan Akuisisi pada Perusahaan Non-Bank yang Tercatat di BEI Periode 2015." Indonesian Journal of Economics and Management 1, no. 2 (March 31, 2021): 375–85. http://dx.doi.org/10.35313/ijem.v1i2.2505.
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Merger and Acquisition is one of firm’s effort to maintain and develop life of firm. Research analyze the difference of the firm’s financial performance pre and post merger and acquisition. The sample uses companies listed on the Indonesia Stock Exchange (IDX) and conducted mergers and acquisitions in 2015. The sample consists of 3 acquirer companies that meet the criteria. This study uses a different test Wilcoxon Signed Ranks Test. The results show that of 5 financial ratios, namely, leverage ratio as measured by Debt to Equity Ratio, activity ratio as measured by Total Asset Turnover, profitability ratio as measured by Return On Assets, Return On Equity, and Operating Profit Margin, and market ratios as measured by Price to Book Value experienced significant changes between before and after the company carried out mergers and acquisitions, except for the liquidity ratio measured by Current Ratio which did not change between before and after mergers and acquisitions.
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Suryasari, Ni Ketut Nadila, and Luh Gede Sri Artini. "PENGARUH TAT, CR, ROA, DAN PER TERHADAP HARGA SAHAM PROPERTI DAN REAL ESTATE DI BEI." E-Jurnal Manajemen Universitas Udayana 9, no. 4 (April 3, 2020): 1485. http://dx.doi.org/10.24843/ejmunud.2020.v09.i04.p13.
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Investor menilai suatu saham dengan menggunakan analisis fundamental terhadap variabel yang diperkirakan akan mempengaruhi harga suatu saham. Penelitian ini bertujuan memberikan bukti empiris bahwa Total Asset Turnover (TAT), Current Ratio (CR) , Return On Asset (ROA), dan Price Earning Ratio (PER) berpengaruh terhadap harga saham. Penelitian ini dilakukan pada perusahaan Properti dan Real Estate yang terdaftar di BEI periode pengamatan 2016-2018 dengan menggunakan metode purposive sampling. Terdapat jumlah sampel sebanyak 36 perusahaan. Pengumpulan data dilakukan dengan metode observasi non partisipan dan teknik analisis data menggunakan teknik analisis regresi linier berganda. Berdasarkan hasil analisis ditemukan bahwa TAT, CR, ROA, dan PER secara simultan berpengaruh terhadap harga saham. Secara parsial TAT dan CR tidak berpengaruh terhadap harga saham. Hal tersebut memberi arti bahwa investor dalam melakukan investasi tidak memperhatikan rasio TAT dan CR. Sedangkan ROA dan PER secara parsial berpengaruh positif dan signifikan terhadap harga saham. Hal tersebut menunjukkan bahwa investor memperhatikan rasio ROA dan PER dalam berinvestasi saham. Semakin tinggi nilai ROA dan PER maka semakin tinggi pula minat investor untuk menanamkan modalnya pada perusahaan tersebut sehingga harga saham perusahaan pun akan mengalami kenaikan.
Kata kunci: total asset turnover, current ratio, return on asset, price earning ratio, harga saham
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Das, Mousumi, Utpal Kumar Biswas, and Arun Kumar. "24 Hours Urinary Hydroxyproline - A Noninvasive, Cost-Effective and Early Biochemical Marker Which May be Used to Screen the Osteoporotic Lesion in Postmenopausal Women." Asian Journal of Medical Sciences 6, no. 4 (January 6, 2015): 21–24. http://dx.doi.org/10.3126/ajms.v6i4.11853.
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Introduction: Osteoporosis results due increased rate of bone turnover. It has multifactorial etiology and most common in women after menopause. Objective: The current study was aimed to assess the rate of bone turnover towards detection of osteoporotic changes by measuring 24 hours urinary hydroxyproline which is an early as well as non- invasive biochemical bone marker. Methods: Urinary hydroxyproline was measured in 40 postmenopausal women and compared with similar number of premenopausal women as controls. Results: 24 hours urinary hydroxyproline levels were significantly higher (p<0.001) in postmenopausal women than premenopausal groups. This indicates a higher rate of bone turnover suggesting osteoporotic changes. 24 hour urinary hydroxyproline is also positively correlated (r= 0.934) with age. Conclusion: The present study suggests that measurement of 24 hours urinary hydroxyproline which is a cost-effective and non- invasive technique, may be used for screening and early detection of osteoporotic changes in women of postmenopausal age group.DOI: http://dx.doi.org/10.3126/ajms.v6i4.11853 Asian Journal of Medical Sciences Vol.6(4) 2015 21-24
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Arfandi, Arfandi, and Salma Taqwa. "Analisis Kinerja Keuangan Sebelum dan Sesudah Initial Public Offering (IPO) Pada Perusahaan Non Keuangan di Bursa Efek Indonesia." Wahana Riset Akuntansi 6, no. 2 (December 12, 2018): 1347. http://dx.doi.org/10.24036/wra.v6i2.102516.
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Deciding for an initial public offering (IPO) has a major influence in improving the company's condition, improving the company's performance, especially in terms of corporate financial performance. This study aims to assess financial performance by viewing and analyzing financial reports, non-financial companies that IPO in 2014 at BEI. Financial analysis uses 6 (six) financial ratios: Return On Investments (ROI), Net Profit Margin (NPM), Total Asset Turn Over (TATO), Current Ratio, Debt to Equity Ratio (DER), and CashFlow Operation Ratio (CashFlow to Sales). Assessment of financial performance by comparing the difference in performance before IPO with post IPO so that the data analysis technique used is paired sample T-test. Based on the results of the analysis found that there are differences in financial performance in the current ratio, and the ratio of total asset turnover (TATO) before and after the IPO, but there is no difference in financial performance measured through return on investment (ROI), net profit magin (NPM ), debt to equity ratio (DER), and cash flow operations ratio. The condition of performance difference in current ratio tends to increase seen from the average value before doing IPO but TATO ratio tends to decrease from before IPO.Keyword: Initial Public Offering (IPO), Financial Performance, Financial Ratio
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Pratama, Ray Agung Sucika, Tony Irawan, and Raden Dikky Indrawan. "KINERJA KEUANGAN SUB SEKTOR BUILDING CONSTRUCTION NON-BUMN SEBELUM DAN SETELAH PRIORITAS INFRASTRUKTUR." Jurnal Proaksi 8, no. 1 (June 10, 2021): 215–25. http://dx.doi.org/10.32534/jpk.v8i1.1842.
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Since 2014 the government has focused on developing national infrastructure as stated in Nawacita and as seen in the significant increase in the infrastructure budget from 2015-2019. However, the increase in the infrastructure budget did not affect the private building construction sub-sector companies' profit. This study aims to measure the financial performance of the private building construction sub-sector and to determine the significance of the differences between financial performance before and after infrastructure becomes the focus of development. Purposive sampling was used within the criteria of a private building construction sub-sector company that publishes annual financial reports for 2011-2019. The period is divided into two, before infrastructure becomes the focus of development (2011 - 2014) and after infrastructure becomes the focus of development (2015 - 2019). Paired sample t-test and financial ratio analysis (FRA) were used to analyze the data. The results show that return on assets and total asset turnover have a significant difference between the period before and after infrastructure becomes the focus of development, while the current ratio and debt to equity ratio are not significantly different. These findings can be useful for company managers who would continue to explore opportunities to provide higher profits.
Keywords: financial performance, construction, profitability, solvency
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Matytsin, D. E. "Risk of non-fulfillment of obligations by participants of investment deals: preventive civil law mechanisms for the protection of rights." Journal of Law and Administration 17, no. 4 (February 21, 2022): 33–50. http://dx.doi.org/10.24833/2073-8420-2021-4-61-33-50.
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Introduction. The article is devoted to the study of legal mechanisms to protect the rights of participants of remote-digital transaction, made by a private investor (individual) and a legal entity (investment intermediary, investment recipient) with a particular object of investment and related to the real contracts. Violations of the rights of the parties to the transaction are most often associated with the stage of completion of such transaction and are a consequence of untimely and/or incomplete return of the invested money, failure of the counterparty-debtor to fulfill its obligations immediately upon receipt of money from the investor - upon transfer of the investment object itself. Failure to pay the promised income naturally gives rise to a conflict. Meanwhile, the existing nowadays tools of financial security of entrepreneurial projects objectively can not fully meet the current needs of business entities, and new objects of investment still poorly studied in terms of legal science, require the definition of their legal characteristics and the establishment of the legal nature.Materials and methods. The methodological basis of the study was materialistic positivism combined with the application of general scientific methods of knowledge. Including: dialectical method, formal-logical, analysis, synthesis, deduction and induction, methods of hypothesis, analogy, etc. Particular scientific methods are applied in the work, such as: historical and retrospective method, functional, statistical. Special methods of cognition of legal science are also applied: comparative-legal, the method of systemic research, formal-legal, etc. The work also used the method of legal modeling, which allowed to form the structure and functional elements of civil-legal model of prevention of non-fulfillment of obligations by participants of remote-digital investment transactions in the information space, protection of their rights and legitimate interests.The normative legal base of the work consisted of the provisions of existing legislative acts. Among them: Federal Law of the Russian Federation from 07.02.1992 № 2300-1 "On protection of consumer rights"; Federal Law of the Russian Federation from 23.12.2003 № 177-FZ "On insurance of deposits in banks of the Russian Federation"; Federal Law from 31.07.2020 № 258-FZ "On experimental legal regimes in the field of digital innovation in the Russian Federation"; Federal Law of the Russian Federation from 13.07.2015 № 224-FZ "On public-private partnership, municipal-private partnership in the Russian Federation and amending certain legislative acts of the Russian Federation" and others.The empirical basis of the research were materials of judicial and arbitration practice (for example, Ryazhsky District Court of Ryazan Region; Arbitration Court of Moscow; Ninth Arbitration Court of Appeal of Arbitration Court of Moscow; Zavodoukovsky District Court of Tyumen Region; Tyumen Regional Court, etc.), as well as statistical data published on the official websites of business entities (for example, PJSC Mosbirzhi, American consulting firm "Satis Group" LLC and others).Theoretical basis consisted of the works of domestic (A.I. Goncharov, A.O. Inshakova, L.A. Novoselova, A.I. Saveliev, E.E. Frolova, Y.S. Kharitonova and others) and foreign scientists (V. Akella, Bin Ke, Y.K. Dwivedi, Donghui Wu, L. Hughes, S.K. Misra, N.P. Rana, V. Raghavan, Jun Chen, Zhifeng Yang, etc.) in the corresponding field of research.Research results. As a result of the study, it was found that modern remote digital technologies have gained popularity and are already justifying expectations in the information space. Meanwhile, the token market turned out to have a huge number of so-called "scams" - fraudulent projects whose purpose is to raise funds by deception; in reality, such organizers of investments only created the appearance of implementing a project without any intention to put it into practice. It was also found that many authors, both Russian and foreign, in the modern period pay attention to such modern information technologies as distributed registry technology (blockchain) and smart-contract technology. However, in the scientific developments of colleagues there are no recommendations for specific construction of a civil law model of interaction between participants of remote digital transactions in the information space on the basis of a combination of distributed registry (blockchain) and smart contract technologies.Discussion and conclusion. On the basis of modern information technologies it is proposed to organize and regulate the turnover of investment objects in the information space in such a way that the very need to protect rights would disappear since it is impossible to violate them. For the prevention of violations and at the same time the protection of rights it is recommended to use in combination the technology of a distributed register (blockchain) and the technology of a smart contract. Fundamentally important model elements of such a system of violation prevention and protection of rights of participants of remote-digital investment transactions are outlined. The key feature of the proposed Universal Digital Platform for Private Investors is its versatility. It is proposed to combine in one such platform and a financial platform for financial transactions, and an investment platform for the turnover of utilitarian digital rights, and an information system for the turnover of digital financial assets, digital currencies. As standard contractual structures it is recommended to develop standard smart contracts for each object of investment: 1) uncertified securities; 2) digital rights; 3) utilitarian digital rights; 4) digital financial asset; 5) digital currency; 6) futures contract. This task is recommended to be solved by the Bank of Russia through public procurement. Each such standard smart contract, being a computer program, must provide for the possibility of its interfacing with the hardware and software complex of the Moscow Exchange.The article substantiates the necessity of introducing amendments and additions into the Federal Law of 23.12.2003 #177-FZ "On Insurance of Deposits in Banks of the Russian Federation". In conjunction with the proposal of standard smart contracts it is proposed to form their software algorithms with a clear construction of legal structures corresponding to repo and escrow contracts. The new notarial action in the process of registration of remote digital investment transactions and the new legal construction of the transfer of a thing to the notary's security deposit are proposed.It is proved that polysubject jurisdictional block-chain in remote digital transactions on the Universal Digital Platform for Private Investors should be implemented according to a 6-node scheme of interaction between entities operating in and under the jurisdiction of the Russian Federation. Risk factors for the implementation of remote blockchain registration of transactions with special investment objects are highlighted. Among such factors are argued: technical factors; economic factors; institutional factors.It is concluded that the civil law model of prevention of defaults of participants of investment transactions and protection of their rights in a systemic relationship integrates a number of special elements. First, public-private partnership; second, the use of experimental legal regime in the field of remote-digital investment transactions; third, a set of standard smart contracts - differentiated by type of investment objects; fourth, innovative legal structures for remote-digital investment transactions; fifth, polysubject jurisdictional blockchain, implemented by a 6 node scheme of interaction of entities operating in and under the jurisdiction of the Russian Federation; sixth, a methodological set of prevention of potential conflicts between participants of remote-digital investment transactions, a systematic set of ways to protect their rights.
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Pugh, Thomas A. M., Tim Rademacher, Sarah L. Shafer, Jörg Steinkamp, Jonathan Barichivich, Brian Beckage, Vanessa Haverd, et al. "Understanding the uncertainty in global forest carbon turnover." Biogeosciences 17, no. 15 (August 5, 2020): 3961–89. http://dx.doi.org/10.5194/bg-17-3961-2020.
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Abstract. The length of time that carbon remains in forest biomass is one of the largest uncertainties in the global carbon cycle, with both recent historical baselines and future responses to environmental change poorly constrained by available observations. In the absence of large-scale observations, models used for global assessments tend to fall back on simplified assumptions of the turnover rates of biomass and soil carbon pools. In this study, the biomass carbon turnover times calculated by an ensemble of contemporary terrestrial biosphere models (TBMs) are analysed to assess their current capability to accurately estimate biomass carbon turnover times in forests and how these times are anticipated to change in the future. Modelled baseline 1985–2014 global average forest biomass turnover times vary from 12.2 to 23.5 years between TBMs. TBM differences in phenological processes, which control allocation to, and turnover rate of, leaves and fine roots, are as important as tree mortality with regard to explaining the variation in total turnover among TBMs. The different governing mechanisms exhibited by each TBM result in a wide range of plausible turnover time projections for the end of the century. Based on these simulations, it is not possible to draw robust conclusions regarding likely future changes in turnover time, and thus biomass change, for different regions. Both spatial and temporal uncertainty in turnover time are strongly linked to model assumptions concerning plant functional type distributions and their controls. Thirteen model-based hypotheses of controls on turnover time are identified, along with recommendations for pragmatic steps to test them using existing and novel observations. Efforts to resolve uncertainty in turnover time, and thus its impacts on the future evolution of biomass carbon stocks across the world's forests, will need to address both mortality and establishment components of forest demography, as well as allocation of carbon to woody versus non-woody biomass growth.
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Omar, Khalifa Mohamed Khalifa. "Financial Performance of Non-oil Manufacturing Companies Listed on the Libyan Stock Market (LSM): Mixed Methods Study." International Journal of Accounting and Financial Reporting 9, no. 4 (October 11, 2019): 77. http://dx.doi.org/10.5296/ijafr.v9i4.15730.
Full textAbstract:
The major objective of this study is to assess the financial performance and identify the affecting factors in this performance of non-oil manufacturing companies from 1999 to 2008. The study sample consisted of all non-oil manufacturing companies' enlisted at Libyan stock market which count (8). The data collected was analyzed by using statistical analysis method such as descriptive statistics, correlation test, Multiple- regression, as well as semi-structured interviews method. The results regarding to the statistical analysis method (net working capital, inventory turnover ratio, selling and general administrative expenses ratio, and company size and company age), have a positive statistical effect on the financial performance(ROA), while the variables of (current ratio, quick ratio and account receivable turnover ratio), have a negative statistical effect on the financial performance (ROA). The results regarding to semi-structured interviews method, reveal that the respondents in the interviews were confirmed that the selected factors have a significant effect on financial performance (ROA). The researcher recommended that the selected companies must consider the listed decision on the Libyan stock market; even when their financial performance is good.