The purpose of this research is to test investments, free cash flow, earnings management, and interest coverage ratio are affecting the risk of financial distress in healthy enterprises.. Healthy companies can be seen from how large the value of working capital, retained earnings, income before tax, market value and sales implemented in the measurement of the financial difficulties model with the Altman Z-score method. Collection of data by purposive sampling and number of samples as many as 33 companies in the category of healthy companies. The results show that free cash flows and interest coverage ratio significant effect on the financial difficulties of healthy companies whereas investment and earnings management had no significant effect on the financial difficulties of healthy companies

Business Perspectives - scientific journals publishing

This study aims to investigate the impact of competitive positions and corporate governance on firm values. Corporate governance is proxied by the board of commissioner’s size, the board of commissioner’s independence, institutional ownership, and foreign ownership. The company’s competitive position is determined by its market share. Tobin’s Q is utilized to determine a firm value. In addition, firm size, leverage, and profitability served as control factors. A total of 100 manufacturing companies in Indonesia for the 2019–2021 period were selected as samples using a random sampling technique. Multiple linear regression is utilized for data analysis. The finding shows competition and foreign ownership have no effect on the firm value. While the board size and independence of the board and institutional ownership can impact the firm’s value. The results of this study reveal that during the COVID-19 outbreak, the competitive position cannot aid enterprises in attaining their objective of increasing firm value. This result indicates the anomalous condition affecting the competitive standing during the COVID-19 era. In this period, severe competition poses a challenge to a company’s ability to generate a sustainable income, despite the fact that market conditions and competitive strategy might provide a competitive edge and better performance.

Pengaruh Corporate Governance Terhadap Pengungkapan Forward-Looking Information

Purpose: The aims of this research are twofold: (1) to examine the quality of sustainability reporting among publicly traded firms in Indonesia and Malaysia, and (2) to explore the cause-and-effect link between the quality of sustainability reports and corporate value. Design/methodology/approach: The population consisted of manufacturing enterprises in Indonesia and Malaysia that have issued the Sustainability Report. The sampling was conducted using a random sampling approach and the sample size was determined using the Slovin formula. The assessment of sustainability reporting quality was conducted using certain indicators, namely: (1) adherence to regulations, (2) extent of time horizon disclosures, and (3) level of depth in content disclosure. The assessment of corporate worth was determined by the annual increase in market capitalization. The control variables employed were company size, capital intensity, leverage, and profitability. The data was gathered from the annual report and sustainability report coverage for the years 2018, 2019, and 2020, which were published on the company's website and on the stock market. By employing random sampling and ensuring the availability of all necessary data as per the regression analysis model, we acquired a total of 300 samples of manufacturing firms in Indonesia and 274 samples of manufacturing companies in Malaysia. The evaluation of the Indonesia sustainability report's disclosure pertains to the compliance with Financial Services Authority Regulation Number 51 /POJK.03/2017, which outlines the guidelines for the implementation of sustainable finance. The evaluation of Malaysia's sustainability report disclosure pertains to the Global Reporting Initiative (GRI). The study employed panel data regression analysis to investigate the causal association between the quality of sustainability report and corporate value. Findings: The practices of sustainability disclosure in Indonesia and Malaysia exhibit distinct emphases. Indonesia priorities environmental factors, whilst Malaysia focuses more on social disclosure. Companies in Malaysia have higher levels of disclosure compared to those in Indonesia due to the earlier implementation of the Global Reporting Initiative (GRI). Environmental disclosures and social disclosures in Indonesia have a notable impact on the value of the company, as measured by Tobin's Q. The negative coefficient of social disclosure indicates that investors typically react unfavorably. The act of evacuating the environment has a beneficial effect, which is seen in the appreciation shown by investors. The revelation of corporate governance has a favorable impact on the company's value (Tobin Q) in Malaysia, indicating that investors in Malaysia exhibit significant interest in governance matters. Higher levels of governance result in reduced risk and increased desirability for investors. Research limitations/implications: Some corporations do not release sustainability reports, hence researchers must get data from annual reports. The presentation of sustainability information in the annual report lacks organisation, resulting in frequently inadequate data. Originality/values: The research's originality resides in its full measurement of disclosure and its study of each component of disclosure in the sustainability report.

Purpose: This study aims to tests the effect of corporate governance on cash holdings empirically. This study proxies corporate governance into four proxies: family ownership, institutional ownership, size of the board of commissioners, and proportion of independent commissioners. In addition, this research uses five control variables, namely, bank relationship, company size, leverage, return on assets, and cash flows.Method: The samples were chosen based on the purposive sampling technique from consumer goods companies listed in the Indonesian Stock Exchange during 2015-2019, with 77 firm years. In order to test hypotheses, this study performed multiple regression analysis.Finding: The results showed that board independence negatively affect cash holdings, while family ownership, institutional ownership, and board size have not.Novelty: This study extends the limited previous research on the relationship between corporate governance and cash holdings, especially in the consumer goods industry sector listed on the Indonesia Stock Exchange for the period 2015-2019.