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The impact of financial liquidity and leverage on financial performance: Evidence from property and real estate enterprises in Indonesia

机译:金融流动性和杠杆对财务绩效的影响:来自印度尼西亚房地产和房地产企业的证据

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The demand for property increases every year in line with the population growth in Indonesia. Moreover, the society believes that investing in the property will have future benefits since there is an expectation of an increase in strong middle-class consumer spending made to the residential business segment and also urban society demands for apartments and condominiums. Loans and mortgages are often made by both owners and developers in order to own the property. Therefore, this study investigates the impacts of financial liquidity and leverage on the financial performance of the Indonesian property and real estate enterprises. The study considers three (3) selected companies listed on Indonesia Stock Exchange LQ 45 (IDX LQ 45) over period five (5) years (2012- 2016). The secondary data are obtained from the financial statement (comprehensive income statement and statement of financial position) of selected property and real estate companies listed on IDX. This data is analyzed by using the regression analysis; the t-statistics and F significance ANOVA were used to test the hypothesis. The result of the analysis show that Current Ratio (CR) and Debt-Asset Ratio (DAR) had a negative relationship with Return on Assets (ROA) while Times Interest Earned (TIE) had a positive relationship with ROA in Indonesia property and real estate industry.
机译:房地产需求每年都随着印尼人口的增长而增加。此外,社会人士认为,对房地产的投资将带来未来的收益,因为人们期望增加对住宅商业领域的强劲的中产阶级消费者支出,以及城市社会对公寓和公寓的需求。贷款和抵押通常是业主和开发商共同拥有的财产。因此,本研究调查了金融流动性和杠杆对印尼房地产和房地产企业财务业绩的影响。该研究考虑了三(3)个在五(5)年(2012年至2016年)内在印尼证券交易所LQ 45(IDX LQ 45)上市的公司。二级数据是从IDX上列出的选定房地产和房地产公司的财务报表(综合收益表和财务状况表)中获得的。通过使用回归分析来分析此数据; t统计量和F显着性方差分析用于检验假设。分析结果表明,在印尼房地产和房地产中,流动比率(CR)和债务资产比率(DAR)与资产收益率(ROA)呈负相关,而利息收入时间(TIE)与ROA呈正相关。行业。

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