scholarly journals ANALYSIS OF SUSTAINABLE GROWTH RATES OF COMPANIES INCLUDED IN THE MIXED HOLDING POWER UTILITY OF REPUBLIC OF SRPSKA

2021 ◽  
pp. 65-76
Author(s):  
Goran Radivojac ◽  
Aleksandra Krčmar
Keyword(s):  
Growth Rates ◽  
Stock Exchange ◽  
Financial Statements ◽  
Sustainable Growth ◽  
Power Utility ◽  
Operating Income ◽  
Holding Power ◽  
Net Profit ◽  
The Republic ◽  
Banja Luka

This paper analyzes selected data on the performance of companies that are part of the power utility Elektroprivreda Republike Srpske with the aim of determining their sustainable growth rates. The energy sector was chosen because of its importance both for the Republic of Srpska capital market (measured by the participation in the total market capitalization of the Banja Luka Stock Exchange and the basic Stock Exchange index) and the entire Republic of Srpska economy (measured by the participation in gross domestic product). The analysis considered data from published financial statements for 2019, with an emphasis on the following: operating assets, liabilities, capital, operating income and net profit. The dividend policy was also considered, but it was concluded in the paper that none of the observed companies paid dividends from profit for 2019 by the end of this analysis. The research results show that the rate of sustainable growth exceeds 1% in only one case, while in several other cases there are negative rates of sustainable growth caused by the loss in the observed period. Such facts could raise concerns, but also indicate possible directions for future actions in order to improve the performance of the considered companies.

Анализа одрживе стопе раста нефинансијских компанија које котирају на Бањалучкој берзи // A Sustainable Growth Rate Analysis of Non-Financial Companies Listed on the Banja Luka Stock Exchange

2018 ◽  
Vol 14 (24) ◽  
pp. 53
Author(s):  
Горан Радивојац ◽  
George Kester
Keyword(s):  
Growth Rate ◽  
Growth Rates ◽  
Asset Management ◽  
Financial Distress ◽  
Stock Exchange ◽  
Sustainable Growth ◽  
Financial Leverage ◽  
Rate Analysis ◽  
Sustainable Growth Rate ◽  
Banja Luka

Резиме: У свом истраживачком пројекту чије резултате објављујемо у овом чланку, прикупили смо одговарајуће податке, извршили њихову анализу и процијенили одрживост стопе раста нефинансијских компанија које котирају на службеном тржишту акција Бањалучке берзе. Одрживост раста сваке компаније можемо анализирати на неколико начина, али најједноставнији приступ подразумијева анализу максималне брзине раста прихода од продаје у контексту међусловљености и утицаја на профитабилност компаније, политику дивиденди, управљање имовином и финансијски левериџ. Приходи од продаје било које компаније не могу да расту по стопи већој од „одрживе” стопе раста, изузев ако је у кратком року раст подстакнут позитивним утицајем једног или више поменутих параметара повећања перформанси, или је раст стимулисан прибављањем додатног капитала. Summary: In this research project and paper, we propose to assess the sustainable growth rates of non-financial companies listed on the Banja Luka Stock Exchange. A company’s sustainable growth rate is the maximum rate its sales can grow, given the company’s profitability, earnings retention, asset management, and financial leverage. A company’s sales cannot grow at a rate higher than its sustainable growth rate unless one or more of these levers of performance increases or the company issues additional equity. Companies that grow at rates higher than their sustainable growth rates and finance the their asset growth with debt financing experience higher financial leverage that can lead to financial distress and ultimately bankruptcy.

scholarly journals INTANGIBLE ASSETS IN THE CONSOLIDATED FINANCIAL STATEMENTS OF SERBIAN AND SLOVENIAN LISTED COMPANIES: A PRELIMINARY OVERVIEW OF THE REPORTING PRACTICES

TEME ◽  
2018 ◽  
pp. 167
Author(s):  
Dejan Spasić ◽  
Anton Vorina
Keyword(s):  
Intangible Assets ◽  
Stock Exchange ◽  
Financial Statements ◽  
Listed Companies ◽  
Consolidated Financial Statements ◽  
Reporting Practices ◽  
Reporting Practice ◽  
Survey Results ◽  
Business Combination ◽  
The Republic

The aim of the research is to achieve a conclusion what is the level of the reporting practice on intangible assets in two countries - in the Republic of Serbia and in the Republic of Slovenia trough a comparative descriptive statistics. Consolidated financial statements of listed companies in these two countries were used from the Belgrade Stock Exchange (Serbia) and the Ljubljana Stock Exchange (Slovenia). The reason for the use of consolidated financial statements lies in the fact that they can contain unconsolidated intangible assets already recognized in the separate financial statements of the companies included in the group, as well as internally generated intangible assets that meet the conditions for recognition in a business combination (including Goodwill). The general assessment is that the survey results indicate a very low level of reporting practice of intangible assets in Serbia and relatively satisfactory level of reporting practice in Slovenia. Individual results are given in the fourth part of the paper. 

scholarly journals Pengaruh Rasio Likuiditas, Rasio Profitabilitas dan Rasio Pasar terhadap Kebijakan Dividen pada Perusahaan Rokok

2017 ◽  
Vol 1 (1) ◽  
pp. 1-11
Author(s):  
Evelyn Wijaya
Keyword(s):  
Linear Regression ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Secondary Data ◽  
Financial Statements ◽  
Profit Margin ◽  
Current Ratio ◽  
Financial Factors ◽  
Earnings Per Share ◽  
Net Profit

  The research on financial factors and its effect to dividend policy of Company which is listed in Indonesia Stock Exchange have been carried out by several researchers, but the results showed inconsistent. This research aims to test the influence of liquidity ratio, profitability ratio, market ratio, and its effect on dividend policy of Cigarette Company. The liquidity ratio proxied by Current Ratio, profitability ratio proxied by Net Profit Margin, market ratio proxied by Earning Per Share, and dividend policy proxied by Dividend Per Share. The sample used are 3 companies, listed in IDX period of 2001-2014. Data used in this study is secondary data by using financial statements. The Data analyzed using multiple linear regression. The result showed that net profit margin has a significant effect on dividend per share whereas current ratio and earnings per share has no significant effect on dividend per share of cigarette company which listed in IDX period of 2004-2014. Keywords : Liquidity Ratio, Profitability Ratio, Market Ratio, Dividend Policy.

scholarly journals PENGARUH CAPITAL ADEQUACY RATIO, NON PERFORMING LOAN, BIAYA OPERASIONAL PENDAPATAN OPERASIONAL, DAN LOAN TO DEPOISIT RATIO TERHADAP PERUBAHAN LABA ( Studi Kasus Bank Konvensional Yang Terdaftar di BEI Periode 2009-2012)

2016 ◽  
Vol 3 (1) ◽  
Author(s):  
Dita Nur Raifah ◽  
Teguh Erawati
Keyword(s):  
Regression Analysis ◽  
Linear Regression ◽  
Sampling Method ◽  
Stock Exchange ◽  
Statistical Tests ◽  
Financial Statements ◽  
Capital Adequacy ◽  
Test Results ◽  
Operating Income ◽  
Capital Adequacy Ratio

This study discusses the changes in earnings and financial ratios based on financial statements of listed companies in Indonesia Stock Exchange during the period 2009-2012. The purpose of this study was to determine whether the Capital Adequacy Ratio (CAR) , Non- Performing Loans (NPL) , Operating Expenses Operating Income (BOPO) , and the Loan to Deposit Ratio (LDR) has an influence on incomen changes. The type of data in this study is secondary . Sampling in this study using purposive sampling method . Companies that used a sample of 24 banking companies listed in Indonesia Stock Exchange during 2009-2012. This research is quantitative , and statistical tests use the test multiple linear regression. By using regression analysis , it can be seen that the Capital Adequacy Ratio (CA ) , Non Performing Loans (NPL) , Operating Expenses Operating Income (BOPO) , and the Loan to Deposit Ratio (LDR) has a significant effect on earnings changes . Partial test results , the Capital Adequacy Ratio (CAR) has a positive and significant effect on earnings changes . Non Performing Loan (NPL) had no effect on earnings changes . Operating Expenses Operating Income does not affect the income changes . Loan to Deposit Ratio (LDR) has a positive and significant effect on earnings changes. Keywords : Capital Adequacy Ratio (CAR) , Non-Performing Loans (NPL) , Operating Expenses Operating Income (BOPO) , and the loan to deposit ratio (LDR) , and Income Changes .

scholarly journals Profitability Ratio Analysis and its Effect’s to Firm Value in the Food and Beverage Industry in Indonesian Stock Exchange

2017 ◽  
Vol 9 (4) ◽  
pp. 12-17
Author(s):  
Sitti Murniati
Keyword(s):  
Firm Value ◽  
Stock Exchange ◽  
Operating Income ◽  
Book Value ◽  
Contribution Margin ◽  
Beverage Industry ◽  
Food And Beverage Industry ◽  
Net Profit ◽  
Food And Beverage ◽  
Earning Power

This study aims to analysis the profitability ratio consisting of net profit margin, basic earning power and contribution margin and its effect on firm value in Food and Beverage industry. The data in this study, obtained from the capital market information center with the object of research in Food and Beverage industry listed on the Indonesian Stock Exchange. This study uses secondary data sourced from the financial statements in Food and Beverage industry, published by the Indonesian Stock Exchange in 2012 until 2015. The data analysis method used is multiple regression analysis. After analysis of all data, the result of research is as follows: 1) net profit margin has a positive and significant effect to price book value which means that management experience success in operational matter and will result in increasing investor trust to invest in Food and Beverage industry, 2 ) basic earning power has a positive and insignificant effect to price book value which means that the working capital in the issuer is only the operating capital or operating assets, as well as the profit that is accounted for only from the operating income of the company is net operating income, and 3) contribution margin has a negative and significant effect to price book value which means that the issuer has not been able to generate profits from the sales of its product caused by the selling price of down so that the contribution margin amount cannot be used to cover all fixed costs so that there is loss in the period.

scholarly journals PENGARUH KINERJA KEUANGAN TERHADAP HARGA SAHAM PADA PERUSAHAAN INDUSTRI MAKANAN DAN MINUMAN DI BURSA EFEK INDONESIA

2019 ◽  
Vol 6 (2) ◽  
pp. 151
Author(s):  
Bima Arif Oktianto
Keyword(s):  
Linear Regression ◽  
Financial Performance ◽  
Stock Prices ◽  
Stock Exchange ◽  
Financial Statements ◽  
Profit Margin ◽  
Current Ratio ◽  
Net Profit ◽  
Food And Beverage ◽  
Equity Ratio

The present study aims to investigate the influence of financial performanceof the stock prices on food and beverage industries in the Indonesia StockExchange that are Current Ratio (CR), Debt to Equity Ratio (DER), TotalAssets Turnover (TATO), and Net Profit Margin (NPM).This study usedsecondary data that obtained from the financial statements of IndonesianCapital Market Directory (ICMD) based on the publication of the IndonesiaStock Exchange. The sample used in this study were enterprises food andbeverage industries listed in the Indonesia Stock Exchange in 2011 – 2015.The data were analyzed by using multiple linear regression analysis.Theresults of this study indicated that there was significant effect simultaneouslybetween financial performance [Current Ratio (CR), Debt to Equity Ratio(DER), Total Assets Turnover (TATO), and Net Profit Margin (NPM)] towardthe stock prices on food and beverage industries in Indonesia stockExchange in 2011 - 2015. While partially showed that of the fourindependent variables, which indicated the presence of significant influencewere Current Ratio (CR), Total Assets Turnover (TATO), and Net ProfitMargin (NPM) to the stock prices on food and beverage industries inIndonesia stock Exchange in 2011-2015.

scholarly journals PENGARUH VARIABEL KEUANGAN DAN NON KEUANGAN TERHADAP RETURN SAHAM SETELAH IPO DENGAN BESARAN PERUSAHAAN SEBAGAI VARIABEL MODERASI

2019 ◽  
Vol 1 (1) ◽  
pp. 29
Author(s):  
Wibowo Wibowo ◽  
Stefano Rendy
Keyword(s):  
Sampling Method ◽  
Stock Exchange ◽  
Industrial Sector ◽  
Income Smoothing ◽  
Profit Margin ◽  
Operating Income ◽  
Model Classification ◽  
Public Company ◽  
Net Profit ◽  
Independent Variable

<p>This Research target is to know factors of any kind of influencing income smoothing and its bearing to share performance (return and risk) public company in Indonesia. Data of this research are obtained from 30 company listed in Jakarta Stock Exchange which have been selected using (purposive) judment sampling method. Samples<br /> are classified to be smoother and non smoother using Eckel's model (1981). Eckel model classification in this research use three object of variable of income : operation income, income before tax, and income after tax. Test of one-sample kolmogrov smirnov, mann whitney, t-Test, and multivariate logistics are used for data analysing.<br /> The result of this research indicate that pursuant to coefficient variation of operating income and income before tax independent variable: company size, net profit margin (NPM), industrial sector, and winner/losser stocks not influenced income smoothing. Base on coefficient of variation of income after tax indicates that company<br /> size, net profit margin (NPM), and industrial sector not influenced income smoothing while winner/losser stocks influence income smoothing. And it also indicated no return diffferent between smoother and non smoother, than no risk different between them.</p>

scholarly journals Pengaruh perputaran modal kerja piutang kas dan persediaanterhadapnet profit margin pada perusahaan industri barang konsumsi di BEI

JURNAL PUNDI ◽  
2018 ◽  
Vol 2 (1) ◽  
Author(s):  
Martius Martius
Keyword(s):  
Consumer Goods ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Financial Statements ◽  
Profit Margin ◽  
Working Capital ◽  
Net Profit ◽  
Inventory Turnover ◽  
Consumer Goods Industry ◽  
Operational Activities

In the development of free trade and great globalization to the way the company in carrying out operational activities in order to be more effective and efficient. This study aims to determine the turnover of working capital, receivable turnover, cash turnover and inventory turnover of Net Profit Margin (NPM) in consumer goods industry companies listed on the Indonesia Stock Exchange period 2012-2016. The sampling technique used is purposive sampling with the criteria of Consumer Goods Industry which always present the financial statements as of December 2012-2016. The results of this study indicate that partially working capital turnover and receivable turnover have no significant effect on net profit margin, while receivable turnover and cash turnover and inventory turnover significantly influence net profit margin. But simultaneously rotation of working capital, receivable turnover, cash turnover and inventory turnover significantly affect net profit margin. The Adjusted R square value shows that secar jointly with working capital turnover, receivable turnover, cash turnover and inventory turnover contributed to net profit margin of 38.3% while the remaining 61.2% was influenced by other variables not included in this study.

scholarly journals Pengaruh Pendapatan Operasional terhadap Laba Bersih pada Bank Muamalat Indonesia Tbk. Periode 2015-2020

2021 ◽  
Vol 5 (2) ◽  
pp. 260-272
Author(s):  
Evita Septiani Jaenab ◽  
Ghina Fatimatuzzahro ◽  
Salsabila Gita Tsanya ◽  
R. Deden Adhianto
Keyword(s):  
Financial Services ◽  
Research Method ◽  
Linear Regression Analysis ◽  
Secondary Data ◽  
Financial Statements ◽  
Net Income ◽  
Simple Linear Regression ◽  
Operating Income ◽  
Independent Variables ◽  
Net Profit

This study aims to determine the effect of operating income on net income at Bank Muamalat Indonesia Tbk. The period 2015 to 2020. The research method used is an associative quantitative method using secondary data in the form of the financial statements of Bank Muamalat Indonesia which are publicly registered with the Financial Services Authority. Hypothesis testing using simple linear regression analysis through t-test with a view to knowing the effect of independent variables on the dependent variable. The results of this study that the Operating Income variable on Net Profit has a correlation value or relationship (R) of 0.856 (Very Strong), and the value of the Determination Coefficient or R Square of 0.732 in other words the effect is 73.2%, meaning that the X variable (Operational Income) has an effect on on the variable Y (Net Profit) at Bank Muamalat Indonesia Tbk. While the remaining 26.8% is determined by other variables not examined by researchers, namely Non-Operational Income.

scholarly journals Analisis Rasio Keuangan Sebagai Tolok Ukur Kinerja Keuangan Badan Usaha Milik Desa (Bumdes) Arum Dalu Ngabar

2018 ◽  
Vol 1 (2) ◽  
Author(s):  
Govindha Zahra Maharyani ◽  
Dwiati Marsiwi ◽  
Titin Eka Ardiana
Keyword(s):  
Financial Performance ◽  
Financial Statements ◽  
Profit Margin ◽  
Return On Assets ◽  
Current Ratio ◽  
Return On Equity ◽  
Average Value ◽  
Net Profit ◽  
Equity Ratio ◽  
The Republic

BUMDes is a new line of business that is being promoted by the Government of the Republic of Indonesia. Establishment of BUMDes is intended to realize the Autonomous Village program. This study aims to determine the financial performance of BUMDes Arum Dalu Ngabar from 2015 to 2018. The assessment indicators are using Current Ratio, Debt to Equity Ratio, Return on Equity, Total Assets Turn Over, Net Profit Margin, and Return on Assets. The population in this study is all financial statements belonging to BUMDes Arum Dalu in 2015-2018. The sample used is the Arum Dalu BUMDes financial statements in 2015-2018. The data used are secondary data and data collection techniques by obtaining documents through other people. The data analysis technique in this study is the analysis of financial ratios. This study shows the results that the current ratio assessment is categorized Very Poor, with an average value of 2.492%. Debt to equity ratio is categorized Very Good, with an average value of 2.54%. Return on Equity is categorized as Fair, with an average value of 10.8%. Total assets turnover is categorized as Very Poor, with an average value of 0.19 times. Net profit margin in 2015-2018 is categorized Very Good with an average value of 51.5% and Return on assets is also categorized Very Good, with an average value of 10.5%. Based from the evaluation indicators of the Republic of Indonesia State Minister for Cooperatives, Small and Medium Enterprises Number. 06 / Per / M.KUKM / V / 2006 as a whole, the financial performance of BUMDes Arum Dalu is in the Fair category. Thus, the financial performance of BUMDes Arum Dalu really needs to be improved.

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