CONFIRMATORY FACTOR ANALYSIS INTERNAL DAN EKSTERNAL KEUANGAN, FREE CASH FLOW, DAN RETURN SAHAM PERUSAHAAN MANUFAKTUR GO PUBLIC DI INDONESIA
The negative impact of economic crisis in Asia to internal financial decision included investment decision, financing decision, and dividend decisions. This condition is loser if external factors such as inflation rate, interest rate, and exchange rate are not supported. Negative free cash flow inc...
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| Format: | Article |
| Language: | Indonesian |
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Sekolah Tinggi Ilmu Ekonomi Indonesia Surabaya
2018-09-01
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| Series: | Ekuitas: Jurnal Ekonomi dan Keuangan |
| Subjects: | |
| Online Access: | https://ejournal.stiesia.ac.id/ekuitas/article/view/288 |
| _version_ | 1811342131226214400 |
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| author | Widi Hidayat |
| author_facet | Widi Hidayat |
| author_sort | Widi Hidayat |
| collection | DOAJ |
| description | The negative impact of economic crisis in Asia to internal financial decision included investment decision, financing decision, and dividend decisions. This condition is loser if external factors such as inflation rate, interest rate, and exchange rate are not supported. Negative free cash flow including Economic Value Added and Market Value Added, depreciation of stock return indicate financial distress and reduction of shareholder wealth.
The research used of Confirmatory Factor Analysis and the hypotheses are:
• The influence of Inflation Rate (IR), Interest Rate, and Exchange Rate are significant to External Factor.
• The influence of Return on Equity (ROE), Fixed Asset Utilization (FAU), Capital Intensiveness (CI), Inventory Intensiveness (II), Receivable Intensiveness (RI), Margin Ratio (MR), Asset Profitability Ratio (APR) are significant to Investment Decision.
• The influence of Financial Leverage (FL), Short Term Liquidity (STL) and Cash Position (CP) are significant to Financing Decision.
• The influence of Plowback Ratio (PR) and Return On Fixed Asset are significant to Dividend Decision.
• The influence of Economic Value Added (EVA) and Market Value Added (MVA) are significant to Free cash flow.
• The influence of Price Earning Ratio (PER), Dividend Yield (DY), and Capital Gain Yield (Cap.G) are significant to Stock Return.
The results of this research are significant influence to external factors, internal financial decision, free cash flow, and stock return; but inventory and receivable intensiveness, dividend yield are not significantly. |
| first_indexed | 2024-04-13T19:06:05Z |
| format | Article |
| id | doaj.art-92f7e371434e4199905e38523e82b514 |
| institution | Directory Open Access Journal |
| issn | 2548-298X 2548-5024 |
| language | Indonesian |
| last_indexed | 2024-04-13T19:06:05Z |
| publishDate | 2018-09-01 |
| publisher | Sekolah Tinggi Ilmu Ekonomi Indonesia Surabaya |
| record_format | Article |
| series | Ekuitas: Jurnal Ekonomi dan Keuangan |
| spelling | doaj.art-92f7e371434e4199905e38523e82b5142022-12-22T02:33:59ZindSekolah Tinggi Ilmu Ekonomi Indonesia SurabayaEkuitas: Jurnal Ekonomi dan Keuangan2548-298X2548-50242018-09-0113213915610.24034/j25485024.y2009.v13.i2.288278CONFIRMATORY FACTOR ANALYSIS INTERNAL DAN EKSTERNAL KEUANGAN, FREE CASH FLOW, DAN RETURN SAHAM PERUSAHAAN MANUFAKTUR GO PUBLIC DI INDONESIAWidi Hidayat0Fakultas Ekonomi Universitas Airlangga SurabayaThe negative impact of economic crisis in Asia to internal financial decision included investment decision, financing decision, and dividend decisions. This condition is loser if external factors such as inflation rate, interest rate, and exchange rate are not supported. Negative free cash flow including Economic Value Added and Market Value Added, depreciation of stock return indicate financial distress and reduction of shareholder wealth. The research used of Confirmatory Factor Analysis and the hypotheses are: • The influence of Inflation Rate (IR), Interest Rate, and Exchange Rate are significant to External Factor. • The influence of Return on Equity (ROE), Fixed Asset Utilization (FAU), Capital Intensiveness (CI), Inventory Intensiveness (II), Receivable Intensiveness (RI), Margin Ratio (MR), Asset Profitability Ratio (APR) are significant to Investment Decision. • The influence of Financial Leverage (FL), Short Term Liquidity (STL) and Cash Position (CP) are significant to Financing Decision. • The influence of Plowback Ratio (PR) and Return On Fixed Asset are significant to Dividend Decision. • The influence of Economic Value Added (EVA) and Market Value Added (MVA) are significant to Free cash flow. • The influence of Price Earning Ratio (PER), Dividend Yield (DY), and Capital Gain Yield (Cap.G) are significant to Stock Return. The results of this research are significant influence to external factors, internal financial decision, free cash flow, and stock return; but inventory and receivable intensiveness, dividend yield are not significantly.https://ejournal.stiesia.ac.id/ekuitas/article/view/288external factorinternal financing decisionfree cash flowstock return |
| spellingShingle | Widi Hidayat CONFIRMATORY FACTOR ANALYSIS INTERNAL DAN EKSTERNAL KEUANGAN, FREE CASH FLOW, DAN RETURN SAHAM PERUSAHAAN MANUFAKTUR GO PUBLIC DI INDONESIA Ekuitas: Jurnal Ekonomi dan Keuangan external factor internal financing decision free cash flow stock return |
| title | CONFIRMATORY FACTOR ANALYSIS INTERNAL DAN EKSTERNAL KEUANGAN, FREE CASH FLOW, DAN RETURN SAHAM PERUSAHAAN MANUFAKTUR GO PUBLIC DI INDONESIA |
| title_full | CONFIRMATORY FACTOR ANALYSIS INTERNAL DAN EKSTERNAL KEUANGAN, FREE CASH FLOW, DAN RETURN SAHAM PERUSAHAAN MANUFAKTUR GO PUBLIC DI INDONESIA |
| title_fullStr | CONFIRMATORY FACTOR ANALYSIS INTERNAL DAN EKSTERNAL KEUANGAN, FREE CASH FLOW, DAN RETURN SAHAM PERUSAHAAN MANUFAKTUR GO PUBLIC DI INDONESIA |
| title_full_unstemmed | CONFIRMATORY FACTOR ANALYSIS INTERNAL DAN EKSTERNAL KEUANGAN, FREE CASH FLOW, DAN RETURN SAHAM PERUSAHAAN MANUFAKTUR GO PUBLIC DI INDONESIA |
| title_short | CONFIRMATORY FACTOR ANALYSIS INTERNAL DAN EKSTERNAL KEUANGAN, FREE CASH FLOW, DAN RETURN SAHAM PERUSAHAAN MANUFAKTUR GO PUBLIC DI INDONESIA |
| title_sort | confirmatory factor analysis internal dan eksternal keuangan free cash flow dan return saham perusahaan manufaktur go public di indonesia |
| topic | external factor internal financing decision free cash flow stock return |
| url | https://ejournal.stiesia.ac.id/ekuitas/article/view/288 |
| work_keys_str_mv | AT widihidayat confirmatoryfactoranalysisinternaldaneksternalkeuanganfreecashflowdanreturnsahamperusahaanmanufakturgopublicdiindonesia |