THE FACTORS AFFECTING FINANCIAL PERFORMANCE IN MINING SECTOR COMPANIES 2014-2019 PERIOD

Dyana Novita Taristy, Ulil Hartono

Abstract


Financial performance is an assessment of the company from achieving predetermined targets. The aim of this research is the influence of leverage, firm size, capital structure, intellectual capital, and environmental cost towards the financial performance of Mining Sector Company listed on the Indonesian Stock Exchange (IDX) in 2014-2019. This research is included in the type of explanation research with quantitative research. Return On Assets (ROA) is used in this case to measure the company’s financial performance. In this research, the population consisted of 50 companies, and the obtained samples from the purposive sampling consisted of 10 companies. Multiple linear regression is used to be the analysis technique in this research. This research gets results that leverage, firm size, capital structure, and intellectual capital have not to effect on a company’s financial performance. The environmental cost has a significant negative effect on the company’s financial performance. The company must maintain the form of its responsibility to the environment by paying attention to the proportion of the budget that must be spent not to impact the acquisition of its financial performance. Next researcher can add or replace the variables that have been researched, replace or extend the period of the research year, increase the sample of companies, or use other sectors listed on the IDX as samples to get different results.

Keywords


Capital Structure; Environmental Cost; Financial Performance; Firm Size; Intellectual Capital; Leverage

Full Text:

PDF

References


Amani, A., Nurleli, and Lestari, R. 2020. Pengaruh Kinerja Lingkungan dan Biaya Lingkungan terhadap Kinerja Keuangan pada BUMN. Jurnal Prosiding Akuntansi, 6(1), 266–269.

Aziz, A. and Hartono, U. 2017. Pengaruh Good Corporate Governance, Struktur Modal, dan Leverage terhadap Kinerja Keuangan Perusahaan Pada Sektor Pertambangan yang Terdaftar di Bursa Efek Indonesia Tahun 2011-2015. Jurnal Ilmu Manajemen, 5(3), 1–13.

Banafa, A., Muturi, W., and Ngugi, K. 2015. Effects of Leverage on Financial Performance of Listed Non Financial Firms in Kenya. International Journal of Finance and Accounting, 4(7), 1–20.

Baroroh, N. 2013. Analisis Pengaruh Modal Intelektual terhadap Kinerja Keuangan Perusahaan Manufaktur di Indonesia. Jurnal Dinamika Akuntansi, 5(2), 172–182.

Brigham, E. F. and Houston, J. F. 2014. Dasar-Dasar Manajemen Keuangan Essentials of Financial Management. In Tim EditorSalemba Empat (Ed.), 1 (11th ed., p. 148). Jakarta: Salemba Empat.

Ciptaningsih, T. 2013. Uji Pengaruh Modal Intelektual terhadap Kinerja Keuangan BUMN yang Go Public di Indonesia. Jurnal Manajemen Teknologi, 12(3), 330–348.

CNBN Indonesia. 2019. Ternyata Ini Penyebab Harga Batu Bara Amblas: Oversupply!. [Online]. From: h tt ps: // www.cn bcin d on esi a. com /m a r k et / 20190815143948-17-92213/ternyata-ini-penyebabharga-batu-bara-amblas-oversupply [October 28, 2020].

Deegan, C. 2002. Introduction The Legitimising Effect of Social and Environmental Disclosures ± A Theoretical Foundation Craig. Accounting, Auditing & Accountability Journal, 15(3), 282–311. https:// doi.org/10.1108/09513570210435852.

Derila, C. P., Evana, E., and Dewi, F. G. 2020. Effect of Environmental Performance and Environmental Costs on Financial Performance with CSR Disclosure as Intervening Variables. International Journal for Innovation Education and Research, 8(01), 37–43. https://doi.org/https://doi.org/10.31686/ ijier.Vol8.Iss01.2054 Page.37-43.

Erawati, T. and Wahyuni, F. 2019. Pengaruh Corporate Governance, Ukuran Perusahaan, dan Leverage terhadap Kinerja Keuangan Perusahaan di Bursa Efek Indonesia (Studi Kasus Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Periode 2013-2017). Jurnal Akuntansi Pajak Dewantara, 1(2), 129–137. https://doi.org/10.24964/ japd.v1i1.895.

Harrison, J. S., Freeman, R. E., and de Abreu, M. C. S. 2015. Stakeholder Theory as an Ethical Approach to Effective Management: Applying The Theory to Multiple Contexts. Journal of Revista Brasileira de Gestao de Negocios, 17(55), 858–869. https:// doi.org/10.7819/rbgn.v17i55.2647.

Isbanah, Y. 2015. Pengaruh ESOP, Leverage, dan Ukuran Perusahaan Terhadap Kinerja Keuangan Perusahaan di Bursa Efek Indonesia. Journal of Research in Economics and Management (Jurnal Riset Ekonomi Dan Manajemen), 15(1), 28–41.

Jensen, C. M. and Meckling, W. H. 1976. Theory Of The Firm/ : Managerial Behavior, Agency Costs, and Ownership Structure. Journal of Financial Economics, 3, 305–360.

Kasmir. 2008. Analisis Laporan Keuangan. Jakarta: PT Rajagrafindo Persada.

Komara, A., Hartoyo, S., and Andati, T. 2016. Analisis Pengaruh Struktur Modal terhadap Kinerja Keuangan Perusahaan. Jurnal Keuangan dan Perbankan, 20(1), 10–21.

Krisdamayanti, D. C. and Retnani, E. D. 2020. Pengaruh CSR, Ukuran Perusahaan, dan Leverage terhadap Kinerja Keuangan Perusahaan. Jurnal Ilmu Dan Riset Akuntansi, 9(4), 1–17.

Kristianti, I. P. 2018. Analisis Pengaruh Struktur Modal terhadap Kinerja Keuangan Perusahaan. Jurnal Akuntansi Dewantara, 2(1), 56–68. https://doi.org/ 10.29230/ad.v2i1.2222.

Ladyve, G., Ask, N., and Muwardi, M. C. 2020. Pengaruh Kinerja Lingkungan, Biaya Lingkungan, dan Ukuran Perusahaan terhadap Kinerja Keuangan Perusahaan yang Terdaftar di Bura Efek Indonesia Tahun 2015 - 2018. E-JRA, 09(06), 122–133.

Makhdalena. 2014. Pengaruh Blockholders Ownership, Firm Size dan Leverage terhadap Kinerja Keuangan Perusahaan. Jurnal Ekonomi Dan Keuangan, 18(3), 277–292.

Mwambuli, E. L. 2015. What Determine Corporate Capital Structure in Developing Economies/ ? Evidence from East African Stock Markets. Research Journal of Finance and Accounting, 6(12), 221–239. https:// www/researchgate.net/publication/311322762.

Mwambuli, E. L. 2016. Does Corporate Capital Structure Influence Corporate Financial Performance in Developing Economies/ ? Evidence from East African Stock Markets. International Finance and Banking, 3(1), 97–123. https://doi.org/10.5296/ ifb.v3i1.9357.

Nimtrakoon, S. 2015. The Relationship between Intellectual Capital, Firms’ Market Value and Financial Performance Empirical Evidence from the ASEAN. Journal of Intellectual Capital, 16(3), 587– 618. https://doi.org/10.1108/JIC-09-2014-0104.

Nirajini and Priya. 2013. Impact of Capital Structure on Financial Performance of the Listed Trading Companies in Sri Lanka. International Journal of Scientific and Research Publications, 3(5), 1–9.

Puspitosari, I. 2016. Pengaruh Modal Intelektual terhadap Kinerja Keuangan pada Sektor Perbankan The Impact of Intellectual Capital on Banking Sectors Financial Performance. Jurnal EBBANK, 7(1), 43–53.

Rachman, A. N., Rahayu, S. M., and Topowijoyo. 2015. Pengaruh Good Corporate Governance dan Financial Leverage terhadap Kinerja Keuangan dan Nilai Perusahaan (Studi Pada Perusahaan yang Terdaftar di Indeks Sri Kehati Selama Periode 2011-2014). Jurnal Administrasi Bisnis (JAB), 27(1), 1–10.

Septiadi, N. L. 2016. Pengaruh Kinerja Lingkungan , Biaya Lingkungan , dan Luas Pengungkapan Corporate Social Responsibility terhadap Kinerja Keuangan Perusahaan. Jurnal Akuntansi Profesi, 6(1), 21–25.

Setiana, E. and Rahayu, D. 2012. Analisis Pengaruh Struktur Modal terhadap Kinerja pada Perusahaan Otomotif yang Terdaftar di BEI Tahun 20082010. Jurnal Telaah Akuntansi, 13(1), 33–50.

Setiawan, W., H, L. B. and Pranaditya, A. 2018. Pengaruh Kinerja Lingkungan, Biaya Lingkungan dan Ukuran Perusahaan terhadap Kinerja Keuangan dengan Corporate Social Responsibility (CSR) sebagai Variabel Intervening (Studi Kasus Perusahaan Studi Kasus pada Perusahaan Manufaktur yang Terdaftar di Bursa. Journal of Accounting, 1–12.

Setyawan, I., Suparwati, Y. K., and Kusumaningtyas, M. 2017. Pengaruh Modal Intelektual dan Pertumbuhan Modal Perusahaan (Studi pada Perusahaan yang Terdaftar di Bursa Efek Indonesia). Jurnal Magisma, 5(2), 1–14.

Sudana, I. 2015. Teori & Praktik Manajemen Keuangan Perusahaan (Sallama (ed.); 2nd ed.). Jakarta: Erlangga.

Suryahadi, Akhmad. 2020. 11 Emiten Batubara Ini Mengalami Penurunan Laba Bersih di 2019, siapa Paling Dalam?. [Online]. From: https://investasi. kontan.co.id/news/11-emiten-batubara-inimengalami-penurunan-laba-bersih-di-2019-siapapaling-dalam?page=all [October 25, 2020].

Tambunan, J. T. A. and Prabawani, B. 2018. Pengaruh Ukuran Perusahaan, Leverage dan Struktur Modal terhadap Kinerja Keuangan Perusahaan (Studi pada Perusahaan Manufaktur Sektor Aneka Industri Tahun 2012-2016). Diponegoro Journal Of Social And Politic, 1–10. http://ejournals1.undip.ac.id/index.php.

Taqwa, S. 2016. Pengaruh Struktur Modal Terhadap Kinerja Perusahaan pada Perusahaan Manufaktur. Jurnal WRA, 4(1), 745–754.

Trisnowati, Y. and Fadah, I. 2014. The Impact of Intellectual Capital on Bank’s Market Value and Financial Performance in Indonesia Stock Exchange. Social Science Research Network (SSRN), 1–10.

Tunggal, W. and Fachurrozie. 2014. Pengaruh Environmental Performance, Environmental Cost dan CSR Disclosure Terhadap Financial Performance. Accounting Analysis Journal, 3(3), 310–320.

Wiagustini, N. L. P. 2010. Dasar-Dasar Manajemen Keuangan (J. Atmaja (ed.)). Denpasar: Udayana University Press.

Zainab, A. and Burhany, D. I. 2020. Biaya Lingkungan , Kinerja Lingkungan , dan Kinerja Keuangan pada Perusahaan Manufaktur. Industrial Research Workshop and National Seminar, 992–998.




DOI: http://dx.doi.org/10.21776/ub.jam.2021.019.03.15

Refbacks

  • There are currently no refbacks.