DETERMINAN DEVIASI ANTARA ACTUAL DAN SUSTAINABLE GROWTH RATE MANUFAKTUR DI INDONESIA
##plugins.themes.academic_pro.article.sidebar##
##plugins.themes.academic_pro.article.main##
Abstract
Tujuan dari penelitian ini untuk mendapatkan bukti empiris pengaruh return on assets, price to book value, rasio lancar, acid ratio, return saham, rasio perputaran persediaan, total assets turnover terhadap deviasi antara actual dan sustainable growth rate. Sampel dalam penelitian ini adalah 81 perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia. Teknik analisis yang digunakan dalam penelitian ini adalah analisis regresi berganda. Hasil penelitian menunjukkan return on assets, price to book value, return saham, dan rasio perputaran persediaan secara parsial tidak berpengaruh terhadap deviasi antara actual dan sustainable growth rate, sedangkan rasio lancar dan total assets turnover secara parsial berpengaruh terhadap deviasi antara actual dan sustainable growth rate.
Â
The purpose of this research was to obtain empirical evidence of the influence of return on assets, price to book value, current ratio, acid ratio, stock returns, inventory turnover ratio, total asset turnover of the deviation between actual and sustainable growth rate. The sample in this study are 81 companies listed in Indonesia Stock Exchange. This study uses Eckel index as an indicator of income smoothing does. The analysis technique used in this study is multiple regression analysis. The results showed the return on assets, price to book value, stock returns, and inventory turnover ratio is partially not affect the deviation between actual and sustainable growth rate, while the current ratio and total asset turnover partially affects the deviation between actual and sustainable growth rate .
##plugins.themes.academic_pro.article.details##
References
Amouzesh, N, Z. Moeinhar, and Z. Mousavi. 2011. Sustainable Growth Rate and Firm
Performance : Evidence From Iran Stock Exchange. International Journal of Business and Social Science. Vol. 2 No. 23, pp. 249-255.
Devie. 2004. Strategi keuangan Matriks: Alat Bantu Keputusan Investasi dan Pembiayaan. Jurnal Akuntansi dan Keuangan vol. 5, No.1, Mei 2004: 58-74.
Fonseka, M. M., C. G. Ramos and G. L. Tian. 2012. The Most Appropriate Sustainable Growth Rate Model For Managers And Researchers. Journal of Applied Business Research. Vol. 28 No. 3, pp. 481.
Ghozali, I. 2011. Aplikasi Analisis Multivariate dengan Program IBM SPSS 19. Semarang: BadanPenerbit Universitas Diponegoro.
Lockwood, L dan W. Prombutr. 2010. Sustainable Growth and Stock Returns. Journal of Financial Research. Vol. 33 No. 4, pp. 519-538.Dimensional Framework for Evaluating the Long Run Performance of bank Mergers. Journal of Business Finance & Accounting. Vol. 32 No. 9 &10.
L. Seens, Daniel. 2013. Small and Medium-sized Enterprises Growth Study: Actual vs. Sustainable Growth. Industrie Canada.
Murni, S dan Andriana. 2007. Pengaruh Insider Ownership, Institusional Investor, Deviden Payments dan Firm Growth terhadap Kebijakan Hutang Perusahaan. Jurnal Akuntansi dan Bisnis, Februari 2007, vol.7, No. 1, Hlm.15-24.
Raisch, S. dan G. Von Krogh. 2007. Navigating a Path to Smart Growth. MIT Sloan
Management Review. Vol. 48 No. 3, 65-72.
Riyanto, Bambang. 2008. Pembelajaran Perusahaan. BPFE. Yogyakarta
Salsiyah, Sri Marhaeni. 2010. Analisis Pengaruh Working Capital to Total
Assets, Total Assets Turnover, Total Debet to Total Capital ASSETS, Gross Profit Margin, dan Net Profit Margin Terhadap Perubahan Laba.
Saputro, Adimas Wahyu dan Agus Purwanto. 2013. Pengaruh Hubungan Kinerja, Likuiditas dan Return Saham Terhadap Deviasi Actual Growth Rate Dari Sustainable Growth Rate Pada Perusahaan Manufaktur di Bursa Efek Indonesia. Diponegoro Journal of Accounting volume 2, nomor 3, tahun 2013.