Email this article Decoding Asset Turnover: Insights into Financial Dynamics of the Automotive Sector
Abstract
Method: The research employs a purposive sampling method, selecting automotive companies as the research subjects from 2018 to 2022. A panel data regression approach is utilized to analyze the data, specifically employing the Random Effect Model.
Results: The results of this research show that profitability, leverage and interest rates have a significant effect on the asset turnover ratio. In contrast, this research reveals a negative relationship between liquidity and ATR.
Implications: The implication of this research is that stakeholders in the automotive industry, including management, investors, and policy makers, can use the insights obtained to make informed decisions. This study also provides practical implications for optimizing asset utilization strategies in automotive companies. The research findings contribute to existing knowledge in the fields of finance and management, enriching understanding of the dynamics that shape company performance in the automotive sector.
Novelty: The novelty of this research lies in its comprehensive approach to understanding complex relationships in the context of asset turnover ratios, which have not previously been revealed in the automotive sector.
Keywords
Full Text:
PDFReferences
Adria, C., & Susanto, L. (2020). Pengaruh Leverage, Likuiditas, Ukuran Perusahaan, Dan Perputaran Total Aset Terhadap Profitabilitas. Jurnal Paradigma Akuntansi, 2(1), 393–400. https://doi.org/10.24912/jpa.v2i1.7168
Al Makhrus, M. N., & Priyadi, U. (2022). Determinan Faktor-Faktor Inflasi di Indonesia tahun 1990-2020. Jurnal Kebijakan Ekonomi Dan Keuangan, 1(1), 101–110. https://doi.org/10.20885/JKEK.vol1.iss1.art10
Amanda, R. I. (2019). The Impact Of Cash Turnover, Receivable Turnover, Inventory Turnover, Current Ratio And Debt To Equity Ratio On Profitability. Journal of Research in Management, 2(2), 14–22.
Amini, S., Buchner, A., Cai, C. X., & Mohamed, A. (2020). Why Do Firms Manage Their Stock Price Levels? Journal of International Financial Markets, Institutions and Money, 67, 101220. https://doi.org/10.1016/j.intfin.2020.101220
Anni’Mah, H. F., Sumiati, A., & Susanti, S. (2021). Pengaruh Leverage, Likuiditas, Profitabilitas Terhadap Nilai Perusahaan Indeks IDX SMC Composite 2019. Jurnal Akuntansi, Perpajakan Dan Auditing, 2(2), 260–279. https://doi.org/10.21009/japa.0202.05
Brigham, E. F., Houston, J. F., & Yulianto, A. A. (2010). Dasar - Dasar Manajemen Keuangan Buku 1. Salemba Empat.
Cieslak, A., & Schrimpf, A. (2019). Non-monetary News in Central Bank Communication. Journal of International Economics, 118, 293–315. https://doi.org/10.1016/j.jinteco.2019.01.012
Esthirahayu, D. P., Handayani, S. R., & Hidayat, R. R. (2014). Pengaruh Rasio Likuiditas, Rasio Leverage, Dan Rasio Aktivitas Terhadap Kinerja Keuangan Perusahaan ( Studi pada Perusahaan Food and Beverage yang Listing di Bursa Efek Indonesia Tahun. Jurnal Administrasi Bisnis, 8(1), 1–9.
Ferris, S. P., Hanousek, J., Shamshur, A., & Tresl, J. (2018). Asymmetries in the Firm’s Use of Debt to Changing Market Values. Journal of Corporate Finance, 48, 542–555. https://doi.org/10.1016/j.jcorpfin.2017.12.006
Gherghina, S. C., Botezatu, M. A., Hosszu, A., & Simionescu, L. N. (2020). Small and Medium-sized Enterprises (SMEs): The Engine of Economic Growth Through Investments and Innovation. Sustainability, 12(1), 1–22. https://doi.org/10.3390/SU12010347
Grozdic, V., Maric, B., Radišic, M., Šebestová, J., & Lis, M. (2020). Capital Investments and Manufacturing Firms’ Performance: Panel-data Analysis. Sustainability, 12(4), 1–18. https://doi.org/10.3390/su12041689
Hartzmark, S. M. (2016). Economic Uncertainty and Interest Rates. Review of Asset Pricing Studies, 6(2), 179–220. https://doi.org/10.1093/rapstu/raw004
Herania, E., & Maski, G. (2022). Pengaruh Jumlah Uang Beredar, Suku Bunga, dan Nilai Tukar terhadap Inflasi di Indonesia Menggunakan Pendekatan Analisis Jalur Periode 2010q1 - 2020q4. Contemporary Studies In Economic, Finance and Banking, 1(2), 230–243.
Irham, F. (2013). Analisis Laporan Keuangan. Alfabeta.
Lubis, I. L., Sinaga, B. M., & Sasongko, H. (2017). Pengaruh Profitabilitas, Struktur Modal, Dan Likuiditas Terhadap Nilai Perusahaan. Jurnal Paradigma Akuntansi, 3(3), 1122–1130. https://doi.org/10.24912/jpa.v4i3.19744
Mahaputra, I. N. K. A. (2012). Pengaruh Rasio Keuangan Terhadap Pertumbuhan Laba Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia. AUDI Jurnal Akuntansi & Bisnis, 7(2), 57–64. https://doi.org/10.53494/jira.v9i2.235
Melan, M. F., Lisetyati, E., & Safriliana, R. (2023). Ratio Analysis of Financials and Stock Price of Heavy Construction and Civil Engineering Companies. Journal of Research on Business and Tourism, 3(1), 44–54.
Oliveira, J. A. S. de, Basso, L. F. C., Kimura, H., & Sobreiro, V. A. (2018). Innovation and Financial Performance of Companies Doing Business in Brazil. International Journal of Innovation Studies, 2(4), 153–164. https://doi.org/10.1016/j.ijis.2019.03.001
Pranaditya, A., Andini, R., & Andika, A. D. (2021). Pengaruh Pertumbuhan Penjualan dan Leverage Terhadap Manajemen Laba yang Dimediasi Profitabilitas dan Dimoderasi dengan Pajak Tangguhan. Media Sains Indonesia.
Putri, A. D. H., & Laily, N. (2020). Pengaruh Profitabilitas, Ukuran Perusahaan, Rasio Aktivitas Dan Risiko Bisnis Terhadap Struktur Modal. Jurnal Ilmu Dan Riset Manajemen, 9(9), 1–17.
Putri, J. Y., & Gandakusuma, I. (2022). Analisis Pengaruh Risiko Kredit, Risiko Likuiditas, serta Risiko Operasional Terhadap Kinerja Perbankan: Studi Kasus pada Bank Umum Konvensional yang Terdaftar di Bursa Efek Indonesia Periode 2016-2020. Jurnal Manajemen Dan Usahawan Indonesia, 46(1), 34–48.
Rachmawati, D., & Pinem, D. B. (2015). Pengaruh Profitabilitas, Leverage dan Ukuran Perusahaan Terhadap Nilai Perusahaan. Equity, 18(1), 1–18.
Rachmawati, W., & Wisayang, V. R. W. (2017). Analisis Pengaruh Assets dan Manajemen Inventory Terhadap Manajemen Laba pada Perusahaan Makanan dan Minuman yang Listing di Bursa Efek Jakarta (Indonesia) 2010 - 2012. Jurnal Dinamika Sosial Budaya, 19(1), 1–14.
Rahayu. (2020). Dampak Piutang Macet Bagi Bank Desa. Nas Media Pustaka.
Riza, F. (2018). Pengaruh Corporate Governance, Likuiditas dan Kinerja Keuangan Terhadap Nilai Pasar Perusahaan (Studi Empiris Emiten Yang Mendapat GCG award IICD Tahun 2010-2012). Jurnal Profita, 11(1), 91–105.
Skopljak, V., & Luo, R. (2012). Capital Structure and Firm Performance in the Financial Sector: Evidence from Australia. Asian Journal of Finance & Accounting, 4(1), 278–298. https://doi.org/10.5296/ajfa.v4i1.1319
Suartika, I. M. P., Suartana, I. W., & Darmawan, D. W. I. P. (2013). Pengaruh Aktiva Tetap, Hutang Jangka Panjang, dan Modal terhadap Laba Bersih Perusahaan Agribisnis Indeks LQ 45 yang Terdaftar di Bursa Efek Indonesia. Jurnal Manajemen Agribisnis, 1(2), 76–97.
Sudarno. (2022). Teori Penelitian Keuangan. CV Literasi Nusantara Abadi.
Sukmawardini, D., & Ardiansari, A. (2018). Influence of Institutional Ownership, Profitability, Liquidity, Dividend Policy, Debt Policy on Firm Value. Management Analysis Journal, 7(2), 211–222. http://maj.unnes.ac.id
Utami, M. T., & Manda, G. S. (2021). Pengaruh Working Capital Turnover (WCT), Current Ratio (CR), dan Total Assets Turnover (TATO) terhadap Profitabilitas. Moneter: Jurnal Akuntansi Dan Keuangan, 8(1), 1–8.
Utami, W. B. (2017). Analysis of Current Ratio Changes Effect, Asset Ratio Debt, Total Asset Turnover, Return On Asset, And Price Earning Ratio In Predictinggrowth Income By Considering Corporate Size In The Company Joined In LQ45 Index Year 2013 -2016. International Journal of Economics, Business and Accounting Research (IJEBAR), 1(1), 25–37. https://doi.org/10.29040/ijebar.v1i01.253
DOI: https://doi.org/10.18860/em.v16i1.25955
Refbacks
- There are currently no refbacks.
Megawati Soekarnoputri Building
Accounting Department, Faculty of Economics
Jln. Gajayana 50 Telp (0341) 558881
E-mail: elmuhasaba@uin-malang.ac.id
Universitas Islam Negeri Maulana Malik Ibrahim Malang
E-ISSN 2442-8922
Member of:
Indexed by:
