Search

In the realm of financial decision-making, it is crucial to consider multiple factors, among which lies the pivotal concern of a firm's potential insolvency. Numerous insolvency prediction models utilize machine learning techniques try to solve this critical aspect. This paper aims to assess the financial performance of financial investment firms listed on the Iraq Stock Exchange (ISX) from 2012 to 2022. A Multi-Layer Perceptron predicting model with a parameter optimizer is proposed integrating an additional feature selection process. For this latter process, three methods are proposed and compared: Principal Component Analysis, correlation coefficient, and Particle Swarm Optimization. Through the fusion of financial ratios with machine learning, our model exhibits improved forecast accuracy and timeliness in predicting firms' insolvency. The highest accuracy model is the integrated MLP + PCA model, at 98.7%. The other models, MLP + PSO and MLP + CC, also exhibit strong performance, with 0.3% and 1.1% less accuracy, respectively, compared to the first model, indicating that the first model serves as a powerful predictive approach. [ABSTRACT FROM AUTHOR]

This study investigates the impact of financial ratios—including leverage, liquidity, operational capacity, and operating cash flow—on financial distress while assessing the moderating influence of ESG disclosure. It focuses on 26 energy sector companies listed on the IDX from 2018 to 2022, employing a quantitative approach and purposive sampling method. Nine hypotheses were formulated and tested using multiple and moderated regression analysis. The study found that leverage has a significant negative effect on reducing financial distress. In contrast, liquidity, operating capacity, and operating cash flow ratios were found to impact reducing financial distress positively. This study also confirmed that ESG disclosure could weaken the relationship between liquidity and potential financial distress reduction. However, ESG disclosure does not mediate the relationship between leverage, operating capacity, and operating cash flow to financial distress reduction. This findings lend credence to the applicability of stakeholders theory in explaining the relationship between financial ratios, ESG disclosure and financial distress. It also provides insight for companies on how to prevent and mitigate financial distress. Companies, especially in the Energy Sector, could reduce the potential financial distress by optimizing both financial and non-financial aspects in their annual and sustainability reports.

Pharmaceutical companies employ various strategies designed to achieve their objectives, which may include maximizing profit or other financial gain. This study aims to analyze the comparison of the financial performance of PT Kalbe Farma Tbk with PT Kimia Farma Tbk, focusing on the profitability and solvency ratios. This research employs a quantitative approach, drawing upon data sources extracted from publicly available financial reports for the 2021-2022 period. The data were collected using a method that involved calculation, analysis, and interpretation in a descriptive format. The results of this study indicate that the ratio analysis conducted on PT Kimia Farma Tbk and PT Kalbe Farma Tbk in 2021-2022 reveals that PT Kimia Farma Tbk exhibits superior liquidity compared to PT Kalbe Farma Tbk. This is evidenced by the current ratio and quick ratio of PT Kimia Farma Tbk, which are significantly higher than those of PT Kalbe Farma Tbk. The risk value of PT Kimia Farma's debt is less than that of PT Kalbe Farma Tbk. The capacity and efficacy of PT Kalbe Farma Tbk in generating net income is superior to that of PT Kimia Farma Tbk. Although it appears that PT Kalbe Farma Tbk has both ratio advantages (liquidity and solvency ratios), when compared to PT Kimia Farma Tbk, it is evident that PT Kalbe Farma Tbk has a more favorable position. Perusahaan Farmasi akan melakukan berbagai strategi yang tepat untuk dapat mencapai tujuan, yakni mendapatkan keuntungan atau laba dengan maksimal. Penelitian ini bertujuan untuk menganalisis perbandingan kinerja keuangan PT Kalbe Farma Tbk dengan PT Kimia Farma Tbk dilihat dari rasio profitabilitas dan solvabilitas. Penelitian ini merupakan penelitian kuantitatif dengan sumber data yang diperoleh dari laporan keuangan perusahaan tahun 2021-2022. Pengumpulan data menggunakan cara dihitung, dianalisis, diinterprestasi dalam bentuk deskriptif. Hasil penelitian ini menunjukkan bahwa analisis rasio yang dilakukan pada PT Kimia Farma Tbk dan PT Kalbe Farma Tbk pada tahun 2021-2022 menunjukkan bahwa nilai Likuiditas PT Kimia Farma Tbk jauh lebih baik dari PT Kalbe Farma Tbk yang terlihat dari rasio lancar dan rasio cepat PT Kimia Farma Tbk yang jauh diatas 100% dibandingkan PT Kalbe Farma Tbk. Nilai Risiko utang PT Kimia Farma lebih kecil dari PT Kalbe Farma Tbk dilihat. Kemampuan dan efesiensi dalam menghasilkan laba bersih PT Kalbe Farma Tbk lebih baik daripada PT Kimia Farma Tbk. Meskipun tampak bahwa PT Kalbe Farma Tbk memiliki kedua keunggulan rasio (rasio liquiditas dan solvabilitas), dibandingkan dengan PT Kimia Farma Tbk.

This research aims to analyze the performance of BAZNAS Central Lombok Regency based on financial ratios. The type and research approach used is quantitative descriptive. This research uses secondary data from BAZNAS Central Lombok Regency financial reports for 2018-2022. The research results show that the activity ratio value indicates that BAZNAS Central Lombok has effectively distributed Zakat, Infaq, and Shadaqah (ZIS) funds. The turnover ratio shows very high/active performance, whereas the performance of ZIS fund distribution is excellent in time. The efficiency ratio shows that the ratio of collection costs is efficient, the operational cost ratio using the total operational costs divided by total ownership rights approach is inefficient, while the operational cost ratio using the total operational costs divided by total collection approach is efficient, as well as the human resource cost ratio. The amil fund ratio and liquidity ratio show good performance. On the other hand, the growth ratio shows poor performance. Theoretically, this research can be used as a reference for future research. Practically, this research can be a reference material for BAZNAS Central Lombok Regency, which has not yet entirely produced optimal performance and for the Central Lombok Regency government as the regulator so that it can mobilize the community and government officials in distributing zakat to BAZNAS Central Lombok Regency.

This study examines the correlation between fundamental financial metrics and stock returns of Indonesia's LQ45 Index over a 10-year period (2014-2023). The study aims to provide actionable insights for investors and companies by identifying the most critical financial metrics in predicting stock price movements. By analyzing data from 16 consistently listed Indonesian companies, the study focuses on stocks that have consistently maintained their position in the index over the past decade, a gap that has been underexplored in prior research. The study employs various statistical tests to validate the regression model, with hypothesis testing conducted through t-test and Ftests to determine the significance of financial ratios on stock returns. The analysis shows that Return on Equity, Price to Earnings Ratio (PER), Price to Book Value (PBV), Free Cash Flow per Share to Price (PFCF), and Dividend Payout Rate (DPR) have a significant positive effect on stock return. The research recommends that retail investors prioritize the PFCF ratio when evaluating potential stock investments. Transparency in financial reporting is essential, with companies encouraged to provide accurate and comprehensive financial statements, including clear reporting of key financial metrics, to build investor confidence. [ABSTRACT FROM AUTHOR]

This study includes the evaluation of the financial performance of companies operating in the IT sector registered in Borsa Istanbul. It is seen that the IT sector has a higher growth rate than other sectors and is developing rapidly. It can be said that this sector has become an important sector in terms of increasing Turkey's trade volume, contributing to economic growth and increasing international competitiveness. Considering these characteristics of IT sector enterprises, the financial evaluation of the enterprises, especially in terms of cash sufficiency, was prioritized as the motivation of the study. The aim of this study is to select the IT sector businesses that are considered successful and have a cash flow profile of 2 and evaluate them in terms of financial performance. For this purpose, the problems of the problem were solved by collecting data and applying analysis methods in order to research the subject in the IT sector and reveal the results. When national and international studies on financial performance evaluation with multi-criteria decision-making methods in the IT sector are examined, it has been determined that most of these studies are analyzed using accrual-based financial ratios as performance evaluation criteria. In this study, unlike other studies, financial performance evaluation was made by using a combination of cash and accrual-based criteria by selecting businesses that are assumed to have successful business characteristics with a cash flow profile of 2. Thus, an original study that can contribute to the literature has been presented. Businesses with Profile 2; According to the data obtained from the cash flow statement, it has positive cash flows from main activities and negative cash flows from investment and financing activities. The business is able to generate sufficient positive cash flow from its core activities to invest in long-term assets, reduce debt, and pay dividends. This profile reflects a successful business and is believed to be relatively common. When previous studies on cash flow profiles in different sectors are examined, it is seen that the majority of the results are concentrated in profile 2. For this reason, in this study, it was preferred to evaluate the financial performance of IT sector businesses with profile 2, which is the most common and successful business. In the implementation of the study, 31 businesses operating in the IT sector registered in Borsa Istanbul and whose data for the 2022-2023 period can be accessed were included in the research. First of all, all of the businesses included in the research were subjected to cash flow profile determination. Then, in accordance with the purpose of the study, the second stage of the analysis was started to evaluate the financial performance of 8 successful businesses with a cash flow profile of 2 for two consecutive years. At this stage, financial ratios used as financial success criteria were selected and used as research criteria. The reason for using these financial ratios in the study is that successful businesses operating in the IT sector with a cash flow profile of 2 are included in the analysis scope of the study and success is the main criterion. Multicriteria decision-making methods were used to rank the financial performance of businesses. First of all, criterion weights were determined using the entropy method. Afterwards, the financial performance of the businesses was evaluated over the years with the TOPSIS method, which ranks all the alternatives according to their closeness to the ideal solution. As a result of the study, it was determined that the company with the best financial performance in both 2022 and 2023 was Papilon Defense Technology and Trade (PAPIL), while the company with the lowest financial performance was Logo Yazılım Sanayi ve Ticaret (LOGO). It has been determined that these identified enterprises are different from the enterprises obtained in the results of previous studies conducted on the same sector. In addition, only 8 of the 31 businesses registered in the BIST IT sector were able to achieve a successful business profile in the years analyzed. It can be said that this result has some implications specifically for this sector. These inferences; It is listed as follows: businesses cannot use their assets efficiently, the level of profit making from the assets they own is low, and businesses may have problems in maintaining their existence. [ABSTRACT FROM AUTHOR]

The main aim of this paper is to show that the methodology of classifying firms of the same sector according to the similarity of their classical financial ratios results in serious problems of incoherence and, consequently, it is necessary to find a viable alternative. With this objective in mind, simple examples are used to show that the appearance of multiple unsolvable problems make it impossible to accept the validity of grouping firms according to homogeneous groups based on these ratios using the usual clustering techniques. Once this fundamental fact has been verified, the proposal of classifying firms based on the ratios created in compositional data methodology and fuzzy clustering is shown to offer a viable alternative for this purpose. The paper ends with a complete analysis using real data. [ABSTRACT FROM AUTHOR]

The prediction of bankruptcy risk poses a formidable challenge in the fields of economics and finance, particularly within the healthcare industry, where it carries significant economic implications. The burgeoning field of healthcare electronic commerce, continuously evolving through technological advancements and changing regulations, introduces additional layers of complexity. We collected financial data from 1265 U.S. healthcare industries to predict bankruptcy based on 40 financial ratios using multi-class classification machine learning models across various industry subsectors and market capitalizations. The exceptionally high post-tuning accuracy rates, exceeding 90%, along with high-performance metrics solidified the robustness and exceptional predictive capability of the gradient boosting model in bankruptcy prediction. The results also demonstrate the power and sensitivity of financial ratios in predicting bankruptcy based on financial ratios. The Altman models highlight the return on investment (ROI) as the most important parameter for predicting bankruptcy risk in healthcare industries. The Ohlson model identifies return on assets (ROA) as an important ratio specifically for predicting bankruptcy risk within industry subsectors. Furthermore, it underscores the significance of both ROA and the enterprise value to earnings before interest and taxes (EV/EBIT) ratios as important parameters for predicting bankruptcy based on market capitalization. Recognizing these ratios enables proactive decision making that enhances resilience. Our findings contribute to informed risk management strategies, allowing for better management of healthcare industries in crises like those experienced in 2022 and even on a global scale. [ABSTRACT FROM AUTHOR]

Copyright of Financing is the property of Financing and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The purpose of this study is to better understand the relationship between financial ratios and tax avoidance in businesses that practice corporate social responsibility. Using a sample of 30 Tunisian financial institutions listed on the stock exchange from 2016 to 2022, we find that engaging in corporate social responsibility activities discourages tax avoidance behavior, particularly in businesses that actively participate in corporate social responsibility activities.In terms of financial metrics, we see that businesses with higher levels of rentability, cash flow, and sales growth are more likely to engage in tax avoidance. But, businesses with high liquidity are less likely to abandon tax avoidance.Based on the findings of this study, tax authorities may be able to predict whether a Tunisian company will engage in tax avoidance in the future by looking at its financial statistics. Furthermore, tax authorities may use corporate social responsibility activities to encourage businesses to pay taxes.

The prediction of bankruptcy risk poses a formidable challenge in the fields of economics and finance, particularly within the healthcare industry, where it carries significant economic implications. The burgeoning field of healthcare electronic commerce, continuously evolving through technological advancements and changing regulations, introduces additional layers of complexity. We collected financial data from 1265 U.S. healthcare industries to predict bankruptcy based on 40 financial ratios using multi-class classification machine learning models across various industry subsectors and market capitalizations. The exceptionally high post-tuning accuracy rates, exceeding 90%, along with high-performance metrics solidified the robustness and exceptional predictive capability of the gradient boosting model in bankruptcy prediction. The results also demonstrate the power and sensitivity of financial ratios in predicting bankruptcy based on financial ratios. The Altman models highlight the return on investment (ROI) as the most important parameter for predicting bankruptcy risk in healthcare industries. The Ohlson model identifies return on assets (ROA) as an important ratio specifically for predicting bankruptcy risk within industry subsectors. Furthermore, it underscores the significance of both ROA and the enterprise value to earnings before interest and taxes (EV/EBIT) ratios as important parameters for predicting bankruptcy based on market capitalization. Recognizing these ratios enables proactive decision making that enhances resilience. Our findings contribute to informed risk management strategies, allowing for better management of healthcare industries in crises like those experienced in 2022 and even on a global scale.

This research discussed HRA’s impact on a company’s financial performance. Human Resource Accounting (HRA) is measured by using 16 indicators, while financial performance uses 4 indicators, which consist of return on assets (ROA), return on equity (ROE), firm size, and leverage ratio. The analytical method used is binary logistic regression. The result shows that none of the HRA indicators affect ROA, while the other three are still affected by HRA indicators. Employment report indicators and other employee benefits in HRA indexes significantly affect ROE. Human resource policy, human resource development fund, and superannuation fund affect firm size the most. The last leverage ratio is significantly affected by human resource policy. This research has implications for manufacturing companies to increase information transparency for investors in the capital market through the sustainability disclosure of periodical HRA reports. Meanwhile, it is recommended that the government take action to encourage HRA disclosure for public companies in Indonesia by making the standards and regulations needed.

This study aims to improve the financial performance measurement system that uses the financial ratios of the Puskas but is still partial, so it cannot measure performance in aggregate. This research method uses a case study with an analysis of BAZNAS and LAZ located in East Java, Indonesia. Data collection techniques using documentation. Analysis techniques formulate, measure, and compare the financial performance of BAZNAS and LAZ using the Miles and Huberman approach, which consists of; (a) data collection; (b) data reduction; (c) display data, and (d) conclusion drawing/verification. Researchers have formulated a measurement of the financial performance of zakat management organizations, both BAZNAS and LAZ, in the aggregate by entering weights into each Puskas ratio of 36 ratios and classifying financial performance categories into five categories of financial performance in the very bad category with weight one, a bad category with weight two, a sufficient category with weight three, a good category with weight four and excellent category with weight five. Based on the formulation of aggregate financial performance measurement in 2020, BAZNAS Lumajang Regency ranked 1st, BAZNAS Gresik Regency ranked 2nd, LAZ LMI Surabaya ranked 3rd, BAZNAS Jombang Regency was ranked 4th, and LAZ Nurul Hayat was ranked 5th. Based on the average value of BAZNAS's financial performance in 2020, the average value of BAZNAS' financial performance was higher than the average value of LAZ's financial performance. Modified financial performance measurement formulas can enrich studies in the science of financial statement analysis for non-profit organizations. [ABSTRACT FROM AUTHOR]

This research aims to analyze the financial management performance of the Balikpapan City Regional Government using income variance analysis, degree of decentralization ratio, independence ratio, income growth ratio, efficiency analysis, effectiveness analysis, capital expenditure ratio, and operational expenditure ratio in the Balikpapan City Government for the budget year 2016 to 2022. The data used is secondary data contained in the Audit Results Report of the Republic of Indonesia Financial Audit Agency Representative of East Kalimantan Province for 2016 to 2022. Static analysis in this study uses descriptive quantitative methods. The observation period from 2016 to 2022 shows that income variance analysis is the best average achievement of 101.20%; the degree of decentralization ratio with an average achievement of 29.48%; independence ratio to average achievement is 42.87%; local original income ratio with an average achievement of 5.87%; total regional income ratio to average achievement is 4.50%; the efficiency level ratio with an average achievement of 96.80% is declared less efficient; the effectiveness level ratio with an average achievement of 108.43% was declared less effective, the capital expenditure ratio with an average achievement was 72.58%; operational expenditure ratio with average achievement of 25.98% Keywords: Local Finance; Financial Performance; Financial Ratio

Accounting and economic-based financial metrics play a crucial role in stock selection or stock ranking by providing objective and quantifiable measures of a company's financial health and performance. These metrics are used by investors, analysts, and portfolio managers to assess the potential risks and returns associated with investing in a particular stock. This study aims to contribute to stock selection and ranking methodologies by proposing a novel Multi-Criteria Decision-Making (MCDM) model. The model integrates the Decision-Making Trial and Evaluation Laboratory (DEMATEL), Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS), and Grey Relational Analysis (GRA) approaches within a neutrosophic environment. Focusing on companies listed on the NASDAQ stock exchange, the research evaluates financial metrics from June 2018 to May 2022, specifically in the Information Technology sector across eight industries. The financial metrics are categorized into two groups: accounting-based financial measures (AFM) and economic value-based financial measures (EFM). Two experts assess the data, and the neutrosophic DEMATEL approach is employed to calculate the weights of the criteria. Subsequently, companies are ranked using neutrosophic TOPSIS and GRA methods. In conclusion, the study conducts a sensitivity analysis using the neutrosophic GRA method to validate the efficiency of the ranking. This research significantly contributes to the field by introducing a comprehensive MCDM model that amalgamates various decision-making techniques within a neutrosophic framework. The results not only provide valuable insights into stock ranking on the NASDAQ stock exchange but also demonstrate the efficacy of the proposed methodology. The integration of DEMATEL, TOPSIS, and GRA in a neutrosophic environment adds originality to the existing literature on financial metrics and MCDM models in stock selection. [ABSTRACT FROM AUTHOR]

The Objective of this research is to examine and analyze the effect of financial ratios, company size, previous year's audit opinion, and auditor's reputation on going concern audit opinions on mining companies listed on the Indonesian stock exchange in 2014-2018. A total of 15 mining companies were studied in this study. The sample selection used purposive sampling method. Data were analyzed using logistic regression. The results obtained are simultaneously, liquidity, profitability ratios, leverage ratios, company size, previous year's audit opinion and auditor's reputation affect going concern audit opinions, while partially, liquidity ratios, profitability ratios, leverage ratios, company size and auditor's reputation s have no effect on going concern audit opinion. The previous year's audit opinion has an effect on going concern audit opinion. [ABSTRACT FROM AUTHOR]

Copyright of Necmettin Erbakan University Journal of the Faculty of Political Science / Necmettin Erbakan Üniversitesi Siyasal Bilgiler Fakültesi Dergisi is the property of Necmettin Erbakan University Journal of The Faculty of Political Science and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This study examines the effect of earnings management and financial ratios on bond ratings. The variables used are 1) The effect of earnings management on bond ratings, 2) The effect of liquidity ratio on bond rating, 3) The effect of activity ratio on bond rating, 4) The effect of solvency ratio on bond rating, 5) The effect of profitability ratio on bond rating. The samples used in the study based on criteria are food and beverage companies that have consecutive bond ratings from 2015 to 2020. From the results of purposive sampling logistic regression, which includes descriptive statistical tests, research model tests, and logistic regression tests. The results of hypothesis testing show that earnings management, liquidity ratio, and profitability ratio have no significant effect on bond ratings, while activity ratio and solvency ratio have a significant effect on bond ratings. Keywords: Earnings Management; Financial Ratio; Activity Ratio; Bond Rating; Liquidity Ratio, Profitability Ratio; Solvency Ratio

Business expansion through acquisition has the purpose to increase company performance which is one of corporate action and also the way a company can compete with their competitors healthily. This research aims to get a proof empirical about whether there’s a difference or not on HYBE Corporation’s company performance after acquiring Ithaca Holdings. Object that used on this research is HYBE Corporation’s quarterly consolidation financial reporting. Company performance in this research evaluated by financial ratio. Analysis methods that used in this research are paired sample t-test and wilcoxon signed rank test. Result of this research shows that there’s no difference with HYBE Corporation’s company performance after acquired Ithaca Holdings.

The decision to Go Public has a great influence in enhancing the company’s performance particularly the company’s financial performance. The purpose of this research is to test whether there are significant differences in the financial performance of PT Phapros Tbk before and after going public through financial ratios. The financial ratios used are Current Ratio (CR), Quick Ratio (QR), Debt to Asset Ratio (DAR), Debt to Equity Ratio (DER), Return on Investment (ROI), Return on Equity (ROE), Total Asset Turnover (TATO), and Fixed Asset Turnover (FATO). The population of this research is the financial statements of PT Phapros Tbk, while the sample used is the financial statements for the 2016-2021 period. The data analysis technique used is ratio analysis and then quantitative analysis using the IBM SPSS version 26 application, the tests carried out include descriptive statistical analysis, normality testing, and hypothesis testing. The results of this research state that the financial performance of Current Ratio (CR), Quick Ratio (QR), Debt to Asset Ratio (DAR), Debt to Equity Ratio (DER), Return on Investment (ROI), Return on Equity (ROE), and Total Asset Turnover (TATO) have significant difference between before and after going public. While the financial performance of Fixed Asset Turnover (FATO) did not have a significant difference after going public.

The Return on Asset (ROA) value of Islamic rural banks (BPRS) keeps decreasing during the Covid-19 pandemic, specifically from 2020 to 2021. The ROA value of Sharia Commercial Bank and Sharia Business Unit also decreased in 2020 but increased in 2021. During the pandemic, many financial institutions were in trouble, but BPRS was still able to survive in the midst of a crisis. This phenomenon attracted some scholars to study the factors that made BPRS survive during a pandemic. This study aims to analyze the effect of internal and external factors on Islamic rural banks’ profitability from the second quarter of 2020 to the first quarter of 2022. The sample used consisted of 134 Islamic rural banks with complete data to be analyzed. This study used panel data regression with ROA as the dependent variable. The result of regression shows that partially, FDR has a positive impact on ROA, whereas NPF and OER hurt ROA. On the other hand, CAR, GDP, and CPI have no impact on ROA. The finding shows that the internal factors of the BPRS have an important role in dealing with crises during a pandemic. The government is expected to support the digital transformation of BPRS in order to increase the efficiency and convenience of BPRS, so the public is attracted to join BPRS.

One of the tourism industries that contributes to national development is the hotel industry. The hotel business can support other businesses, whether it is the right place to hold meetings or cooperation agreements, it can also be a place to increase human resource competency through training. The hotel is also a means for family gatherings to relieve fatigue, a place to stay for delegations from fellow countries at state meetings. The existence of a hotel must of course be accompanied by excellent service, including cleanliness and quality of towels and linen for its guests. The presence of a laundry business service that serves hotel needs is very much needed. This business plan offers a premium laundry service specifically for 4 and 5 star hotels. PT. Luxury Indah Jaya (Luxury Laundry) not only offers towel and linen laundry services but also provides towel and linen rental and guarantees the availability of hotel needs. Luxury Laundry has an IFE score of 2.90 and an EFE score of 3.02, where Luxury Laundry's competitive strength is in the medium category based on the results of the Five Forces Portes Model analysis. Luxury Laundry's financial plan is prepared by considering capital requirements and all costs in running a business company. This research aims to analyze Luxury Laundry's financial planning. The method used in this research is qualitative analysis. [ABSTRACT FROM AUTHOR]

This paper aims to provide pig farmers with the necessary information to guide strategic decisions through the development of a tool that allows them to calculate and control their production costs. A financial ratio analysis can be used as a starting point when assessing and improving a farm's economic sustainability. The objective of the present article is to (1) provide insight into the financial ratios commonly used for pig farm assessments and (2) how they may be applied through an advisory tool to assess farm economic sustainability. Moreover, in this study, different financial ratios were examined to uncover trade-offs and synergies between them. Using the Farm Accountancy Data Network (FADN), we analyzed Spearman correlations between financial ratios. The correlation between these sets of indicators suggested that they could be used to estimate dairy farm economic sustainability. Our results showed that pig farms face a financial situation that can be improved. Pig farmers can benefit from this tool in multiple ways, by gaining an understanding of the costs and revenues leading to investment decisions, managing the risks, planning for potential growth, and having greater access to funding opportunities. [ABSTRACT FROM AUTHOR]

The decision to Go Public has a great influence in enhancing the company’s performance particularly the company’s financial performance. The purpose of this research is to test whether there are significant differences in the financial performance of PT Phapros Tbk before and after going public through financial ratios. The financial ratios used are Current Ratio (CR), Quick Ratio (QR), Debt to Asset Ratio (DAR), Debt to Equity Ratio (DER), Return on Investment (ROI), Return on Equity (ROE), Total Asset Turnover (TATO), and Fixed Asset Turnover (FATO). The population of this research is the financial statements of PT Phapros Tbk, while the sample used is the financial statements for the 2016-2021 period. The data analysis technique used is ratio analysis and then quantitative analysis using the IBM SPSS version 26 application, the tests carried out include descriptive statistical analysis, normality testing, and hypothesis testing. The results of this research state that the financial performance of Current Ratio (CR), Quick Ratio (QR), Debt to Asset Ratio (DAR), Debt to Equity Ratio (DER), Return on Investment (ROI), Return on Equity (ROE), and Total Asset Turnover (TATO) have significant difference between before and after going public. While the financial performance of Fixed Asset Turnover (FATO) did not have a significant difference after going public. [ABSTRACT FROM AUTHOR]

This study investigates the impact of liquidity, profitability, and leverage ratios on financial distress in mining companies listed on the Indonesia Stock Exchange. It posits that higher liquidity in a company correlates with reduced financial distress. The research encompasses eight mining companies observed from 2016 to 2020. Purposive sampling was employed to select a sample of eight companies meeting specific criteria. The study utilizes multiple linear regression analysis as its analytical approach. The findings, significant at the 5% level, reveal that liquidity, profitability, and leverage ratios collectively exert a substantial influence on financial distress, accounting for 85.3% of the variance in the dependent variable. Specifically, the study concludes that: 1) Liquidity has a significant negative effect on financial distress, 2) Profitability also demonstrates a significant negative impact on financial distress, and 3) Leverage exhibits a significant positive effect on financial distress. [ABSTRACT FROM AUTHOR]

The 2018-2020 Budget Realization Report will be used in this study's analysis of the regional government of Pare-Pare Municipality's financial standing. A tool for evaluating financial performance is ratio analysis, which includes measures of decentralization, financial independence, regional financial dependence, effectiveness and efficiency of local revenue, and spending efficiency. This study's statistical analysis followed a descriptive quantitative methodology. According to the study's findings, Pare-Pare City's regional financial independence ratio in 2018-2020 averaged 20.03%, and the degree of decentralization was 16.63%, the ratio of PAD effectiveness for the City Government of Pare-Pare for the 2018-2020 fiscal year was of 96.57%, i.e. <1 or 100, the average PAD efficiency ratio for the Municipal Government of Pare-Pare for the 2018-2020 fiscal year is 20.60%, the average expenditure realized during 2018-2020 is 94.06%. the average spending efficiency ratio of the City Government of Pare-Pare for the 2018 - 2020 fiscal year is 93.10%. [ABSTRACT FROM AUTHOR]

The objective of this study is to examine the relationship between various factors and the performance of Islamic commercial banks in Indonesia over the next 12 periods. The variables considered include NonPerforming Assets, Capital Adequacy Ratio, Insolvency-risk, Inflation, Financial Technology, and Bank Size. The research methodology employed is a quantitative approach with a descriptive analysis. The sampling technique utilized is saturated sampling, resulting in a total of 96 data points. The findings indicate that the Non-Performing Assets (NPA) variable has a significant impact on Return on Assets (ROA), while the ROA variable does not significantly affect the NPA variable. Additionally, the inflation variable does not have a statistically significant effect on ROA, and vice versa. In the short term, the variables that influence bank performance are NPA, Capital Adequacy Ratio, Insolvency-risk, Financial Technology, and Bank Size. In the long term, significant factors influencing bank performance are NPA, Insolvency-risk, Financial Technology, and Bank Size. The Impulse Response Function (IRF) test demonstrates that ROA shows a positive response to the impact of NPA, Capital Adequacy Ratio, Inflation, Financial Technology, and Bank Size, while it exhibits a negative response to shocks caused by inflation. Throughout the study period, the variable with the greatest contribution remains Financial Technology, followed by other variables. Ultimately, the aim of this study is to provide insights for future policy implementation and decision-making within companies. [ABSTRACT FROM AUTHOR]

Introduction: Companies need to apply Good Corporate Governance (GCG) to avoid financial difficulty during periods of crisis. This study can see more clearly the effect of the realization of GCG on banking during a crisis by comparing influence before the crisis and its influence during the crisis, is the application of GCG stronger in the crisis? And whether the show of GCG during a crisis can lower the occurrence of financial distress in affected firms. Methods: Quantitative research method using statistical analysis using regression panel data tested in different situations. Results: The effect of the GCG on financial distress increased in the crisis period, namely 25.48% in the pre-crisis term, increasing to 98.67% in the crisis term. Conclusion and suggestion: The outcome of this examination shows that GCG had a negative and significant effect before the crisis and during the crisis, but the results showed the influence of GCG is stronger for crisis periods where in that period companies will try to improve their corporate governance as an effort to survive. [ABSTRACT FROM AUTHOR]

Financial Ratio analysis is a quintessential technique to evaluate financial statements and is widely used to interpret the performance of companies. This paper examines the application of factor analysis to financial ratios. Factor analysis is applied to investigate and find representative ratios based on different business functions and stakeholder perspectives to reduce complexities in analyzing financial performance through ratio analysis due to multiple ratios. Companies from the Indian tire industry listed on the Bombay Stock Exchange (BSE) have been selected for the study. A form of factor analysis is Principal component Analysis (PCA). From an initial set of fifty-three ratios, nine factors were generated, of which the ratios based on the highest factor loading were identified and selected as the representative ratios. Multiple regression analysis was carried out to eliminate statistically insignificant variables, which helped eliminate twenty ratios. Once again, factor analysis was deployed on the remaining variables, which generated seven factors as the outcome. Factors were named, and representative ratios were identified. Cluster analysis was performed to validate the results of factor analysis. The study shows that it is not essential to compute multiple ratios to assess the financial performance of companies.

The aim of the study is to reveal that different financial characteristics can be obtained when the cash flow profiles obtained as a result of examining the positive and negative aspects of the cash flows in the cash flow statement components are used together with the financial ratio analysis technique. In the study, first of all, cash flow profiles of 70 enterprises operating in the BIST manufacturing industry sector are determined by using the cash flow table data of the years 2012-2018. Afterwards using the data in the balance sheet and income statement of each business, the financial ratio results by years are determined. As a result, the relationship between profile features and financial ratio features is analyzed according to the panel logit analysis method of profile 2, profile 4 and profile 6, which exceeded 10%, within a total of eight profiles and a total of 490 observations. According to the results of the analysis, profile 2 is positively related to asset turnover and return on assets, while asset growth rate is negatively related, profile 4 is positively related to asset growth rate, stocks to assets ratio and equity growth ratio is negatively related to profile 6, and stocks to assets are negatively related to profile 2. It is determined that the rate of asset growth and the rate of asset growth are positively correlated, while the current rate, leverage rate and return on assets rate are negatively related. [ABSTRACT FROM AUTHOR]

This study focuses on working capital management and their various financial ratios to understand various aspects of Indian Banking industry guided by Reserve Bank of India (Central Bank of India). Indian banking industry undergoes huge transformation from earlier years due to their various innovation in banking industry in terms of technological aspect, globalisation and privatisation. For this study, five major banks, namely State Bank of India, HDFC, ICICI, AXIS and KOTAK MAHINDRA, having market share of 73% in Indian banking industry, have been considered and data was collected from money control website of these five major banks from 2011 to 2022. The analysis of these data depicts status of working capital management during pre-COVID and post-COVID period. Main focus of the study is to find the relationship of Return On Assets (ROA) of the bank with other financial ratios and to explore whether there is any significant difference among ROA of selected banks and finally to find status of ROA for selected banks during the pre and post pandemic period. [ABSTRACT FROM AUTHOR]

The economic environment in India pertaining to the banking sector has been constantly changing since 1991 policy of liberalisation privatisation and globalisation. Banking sector was dominated by the public sector banks (by about 70 to 80%) in terms of number of banks or branches government introduce series of changes in the banking sector such as deregulation of rate of interest, reduction in SLR and CRR, entry of private sector, automatic expansion of bank branches and so on. These changes have created stiff competition in the banking sector between public sector bank and private sector banks. One of the major problems faced by public sector banks is the big jump in the NPA which rose to a figure of more than Rs.10lakh crore during the year 2020. All these factor will have greater impact on the liquidity and profitability of the banks. Hence taking in to consideration the major changes taking place in the macroeconomic environment in the country, the present research is undertaken with respect to the major banks of the country one in public sector and another is private sector. State Bank of India was chosen from the public sector and ICICI bank was taken from private sector. The major objectives of this research was to compare the two giant banks in terms of liquidity, profitability and management financial decisions. [ABSTRACT FROM AUTHOR]

By examining the relationship between financial ratios of companies and stock prices, this study investigates whether changes in the financial ratios of companies affect stock prices. Twelve financial ratios were used as independent variables and stock price was used as the dependent variable. The study was conducted via panel data analysis method with data from seven automotive companies traded in Borsa İstanbul (BIST) and six automotive companies traded in stock markets of Germany, the USA, and Sweden for the period of 2007Q1-2018Q4. For automotive companies traded in BIST, stock price is affected by liquidity ratios, financial structure ratios, and activity ratios but there is no statistically significant relationship between stock price and profitability ratios. On the other hand, for the automotive companies traded in stock exchanges in other countries, stock price is seen to be affected by liquidity ratios, financial structure ratios, activity ratios, and profitability ratios.

Previous studies demonstrate that accounting choices could, directly and indirectly, affect firm performance. We investigate whether accounting choices and financial ratios could affect firm performance. We extend the financial ratio variables by adding accounting choice and interaction variables. Based on the panel random effect regression analysis of 100 Indonesian public listed firms, we report that activity ratio, leverage, and depreciation method choice tend to be associated with firm profitability. We conclude that higher assets and leverage tend to be associated with higher efficiency and fewer monitoring costs. However, there is a difference in direction between equity and asset for the leverage variable. This may be explained by the existence of premiums (or discounts) in the equity component, but not in the asset component.

Measuring financial performance is important for businesses because the results of measuring financial performance can be used as a basis for decision making. The purpose of this research is to obtain empirical evidence regarding the effect of current ratio, total asset turnover ratio, debt to total asset ratio, and asset return ratio on financial performance as measured by Profit Before Tax. This research was conducted at PT. Ultra Jaya Milk Industry Tbk which is listed on the Indonesia Stock Exchange. The research sample is the company's quarterly financial statements with 3 years of observation, namely 2019-2021, so 48 data are obtained. Data were collected and then tested by SPSS analysis. The results show that the current ratio, the ratio of debt to total assets and the ratio of return on assets have a positive and insignificant effect on Profit Before Tax, while the ratio of total assets turnover has a significant positive effect on Profit Before Tax. [ABSTRACT FROM AUTHOR]

Sustainable economic development plans have been shattered by the devastating COVID-19 crisis, which brought about an economic recession. The companies are suffering from financial losses, leading to financial distress and disengagement from sustainable economic goals. Many companies fail to achieve considerable financial performances, which may lead to unachieved organizational goal and a loss of direction in decision-making and investment. According to the past studies, there has been no comprehensive study done on the financial performance of the companies based on liquidity, solvency, efficiency, and profitability ratios by integrating the entropy method and fuzzy technique for order reference based on similarity to the ideal solution (TOPSIS) model in portfolio investment. Therefore, this paper aims to propose a multi-criteria decision-making (MCDM) model, namely the entropy-fuzzy TOPSIS model, to evaluate the financial performances of companies based on these important financial ratios for portfolio investment. The fuzzy concept helps reduce vagueness and strengthen the meaningful information extracted from the financial ratios. The proposed model is illustrated using the financial ratios of companies in the Dow Jones Industrial Average (DJIA). The results show that return on equity and debt-to-equity ratios are the most influential financial ratios for the performance evaluation of the companies. The companies with good financial performance, such as the best HD company, have been determined based on the proposed model for portfolio selection. A mean-variance (MV) model is used to validate the proposed model in the portfolio investment. At a minimum level of risk, the proposed model is able to generate a higher mean return than the benchmark DJIA index. This paper is significant as it helps to evaluate the financial performance of the companies and select the well-performing companies with the proposed model for portfolio investment. [ABSTRACT FROM AUTHOR]