Influence Supply Chain Management on the Value of Coal Mining Companies
DOI:
https://doi.org/10.55927/ijba.v4i4.11094Keywords:
Inventory Turnover, Receivables Turnover, Working Capital Turnover, Total Asset Turnover, Company ValueAbstract
The purpose of this research is to analyze roles supply chain management on company value as proxied by Price to Book Value (PBV). Variable supply chain which is examined is Inventory Turnover (THIS), Receivable Turnover (RTO), Working Capital Turnover (WCTO), and Total Asset Turnover (THIS). The research was conducted on coal mining sub-sector companies listed on the Indonesia Stock Exchange during the 2019-2023 period and quarterly data. The analysis method uses panel data regression with the help of Eviews version 13 software. The research results show that the resulting equation is overall significant. The coefficient of determination is 0.3058. TATO and WCTO have a positive effect on company value, while ITO and RTO have no effect on company value. The variable that has the most influence on company value is TATO.
Downloads
References
Ahmed Sheikh, N., & Wang, Z. (2011). Determinants of capital structure: An empirical study of firms in manufacturing industry of Pakistan. Managerial Finance, 37(2), 117–133. https://doi.org/10.1108/03074351111103668
Aji Priyanto, A. (n.d.). The Effect of Current Ratio, Debt to Equity Ratio, Receivables Turnover and Inventory Turnover on Company Value at PT Hero Supermarket Tbk for The Period 2012-2021. Jurnal Scientia, 12, 2023. http://infor.seaninstitute.org/index.php
AKTAŞ, R., & ÜNAL, S. (2015). THE RELATIONSHIP BETWEEN FINANCIAL EFFICIENCY RATIOS AND STOCK PRICES: AN EMPIRICAL INVESTIGATION ON INSURANCE COMPANIES LISTED IN BORSA ISTANBUL. Finansal Araştırmalar ve Çalışmalar Dergisi, 7(12), 1. https://doi.org/10.14784/jfrs.53994
Alalami, A., & Hakim, S. (n.d.). THE IMPACT OF ACCOUNT RECEIVABLE IN COMPANIES’ VALUE: A STUDY OF SAUDI COMPANIES (RADWA TRADING COMPANY) PJAEE, 18 (13) (2021) THE IMPACT OF ACCOUNT RECEIVABLE IN COMPANIES’ VALUE: A STUDY OF SAUDI COMPANIES (RADWA TRADING COMPANY) The Impact of Account Receivable in Companies’ Value: A Study of Saudi Companies (Radwa Trading Company. In Palarch’s Journal of Archaeology of Egypt/Egyptology (Vol. 18, Issue 13).
Alivia, N. R., & Chabachib, M. (2013). ANALISIS FAKTOR-FAKTOR YANG MEMPENGARUHI NILAI PERUSAHAAN DENGAN PROFITABILITAS SEBAGAI VARIABEL INTERVENING (Studi pada Perusahaan Manufaktur yang Listed di BEI Tahun 2008-2011) (Vol. 2, Issue 2). http://ejournal-s1.undip.ac.id/index.php/dbr
Angeline, Y. R., & Tjahjono, R. S. (2020). Tata kelola perusahaan dan rasio keuangan terhadap nilai perusahaan manufaktur. Jurnal Bisnis Dan Akuntansi, 22(2), 305–312.
Brigham, E. F., & Houston, J. F. (2015). Fundamentals of Financial Management, concise 8th edition. Mason, OH: South-Western, Cengage Learning.
Cannon, A. R. (2008). Inventory improvement and financial performance. International Journal of Production Economics, 115(2), 581–593. https://doi.org/10.1016/j.ijpe.2008.07.006
Carstens, R., & Wesson, N. (2019). South African Journal of Economic and Management Sciences. https://doi.org/10.4102/sajems
Ceccarello, C., Neser, G., Pestre, C., Roman, N., & Poisson, V. (2002). Financial indicators and supply chain integration: a European study. Supply Chain Forum, 3(1), 44–52.
Citra, H., Felicia, L., Janlie, Y., Rosniar, R., & Malau, Y. N. (2020). Pengaruh Leverage, Working Capital Turnover, Kebijakan Dividen, Dan Price Earning Ratio Terhadap Nilai Perusahaan Pada Perusahaan Consumer Goods Industry Yang Terdaftar Di Bursa Efek Indonesia. Owner, 4(1), 81. https://doi.org/10.33395/owner.v4i1.179
Colline, F. (2022). The Mediating Effect of Debt Equity Ratio on The Effect of Current Ratio, Return on Equity and Total Asset Turnover on Price to Book Value. Jurnal Keuangan Dan Perbankan, 26(1), 75–90. https://doi.org/10.26905/jkdp.v26i1.6882
Fatmalia Sari, E. (n.d.). The Influence of Debt Policy, Profit Growth and Inventory Turnover on Firm Value Moderated Firm Size. https://doi.org/10.33258/birci.v5i3.5984
Gomm, M. L. (2010). Supply chain finance: Applying finance theory to supply chain management to enhance finance in supply chains. International Journal of Logistics Research and Applications, 13(2), 133–142. https://doi.org/10.1080/13675560903555167
Grzegorz, M. (n.d.). VALUE-BASED INVENTORY MANAGEMENT.
Gujarati, D. N., & Porter, D. C. (2009). Basic econometrics. McGraw-hill.
Gujarati, D. N., & Porter, D. C. (2012). Dasar-Dasar Ekonometrika, Edisi 5. Jakarta: Salemba Empat.
Handayani, S. (2022). Pengaruh Konservatisme Akuntansi Dan Perputaran Piutang Terhadap Nilai Perusahaan Dengan Corporate Governance Sebagai Variabel Moderasi. Jurnal Buana Akuntansi, 7(1), 39–62.
Heizer, J. H., & Render, B. (2009). Operations management: flexible version. (No Title).
Hendricks, K. B., & Singhal, V. R. (2005).
Association between supply chain glitches and operating performance. Management Science, 51(5), 695–711. https://doi.org/10.1287/mnsc.1040.0353
Hendry, J. V., Sitorus, F. D., & Venny, V. (2022). Pengaruh Debt to Equity Ratio, Gross Profit Margin, Perputaran Piutang, dan Return on Equity terhadap Nilai Perusahaan pada Perusahaan Consumer Goods di Bursa Efek Indonesia Tahun 2018 – 2020. Owner, 6(3), 2770–2788. https://doi.org/10.33395/owner.v6i3.941
Hirdinis, M. (2019). Capital Structure and Firm Size on Firm Value Moderated by Profitability. In International Journal of Economics and Business Administration: Vol. VII (Issue 1). www.idx.co.id,
Jihadi, M., Vilantika, E., Hashemi, S. M., Arifin, Z., Bachtiar, Y., & Sholichah, F. (2021). The Effect of Liquidity, Leverage, and Profitability on Firm Value: Empirical Evidence from Indonesia. Journal of Asian Finance, Economics and Business, 8(3), 423–431. https://doi.org/10.13106/jafeb.2021.vol8.no3.0423
Kalaivani, P., & Jothi, K. (2017). Impact of Working Capital Management on Profitability of the Select Car Manufacturing Companies in India. International Journal of Pure and Applied Mathematics, 116(24), 13–21.
Keown, A. J., Martin, J. D., & Petty, J. W. (2019). Foundations of Finance: The Logic and Practice of Financial Management. Pearson Education. https://books.google.co.id/books?id=i1xcxwEACAAJ
Kundu, S., Quddus, K., & Jagannath Sharma, N. (2022). Does halo effect of innovative firms moderate the impact of working capital efficiency on firm value? Evidence from India. Cogent Economics and Finance, 10(1). https://doi.org/10.1080/23322039.2022.2068240
Lee, N., & Kwon, K.-H. (2020). REVENUE RECOGNITION ON PERCENTAGE OF COMPLETION BASIS AND FIRM VALUE. In International Journal of Business and Society (Vol. 21, Issue 1). https://www.pwc.com/us/en/cfodirect/issues/revenue-recognition.html
Marli, M. (2018). Analisis Pengaruh Rasio Aktivitas, Leverage Keuangan Terhadap Nilai Perusahaan Dengan Profitabilitas Ssebagai Variabel Intervening Pada Perusahaan Perkebunan Yang Terdaftar Di Bursa Efek Indonesia “BEI”(Periode 2015-2017). Akuntansi Bisnis & Manajemen (ABM), 25(2), 134–148.
Mesrawati, M., Tafonao, F., & Nduru, Y. (2022). Pengaruh Current Ratio, Debt To Equity Ratio, Perputaran Piutang Dan Perputaran Perputaran Persediaan Terhadap Nilai Perusahaan Pada Perusahaan Manufaktur Sektor Industri Barang Dan Konsumsi. Management Studies and Entrepreneurship Journal (MSEJ), 3(3), 987–1000.
Mohammed, Z. O., & Ani, M. K. Al. (2020). The effect of intangible assets, financial performance and financial policies on the firm value: Evidence from omani industrial sector. Contemporary Economics, 14(3), 379–391. https://doi.org/10.5709/ce.1897-9254.411
Muslim Muslim, H. A. (2022). Several Factors Affecting Firm Value Manufacturing in Indonesia. Jurnal Akuntansi, 26(1), 127. https://doi.org/10.24912/ja.v26i1.821
Needles, B. E., Powers, M., & Crosson, S. V. (2014). Financial & managerial accounting. South-Western, Cengage Learning.
Ngurah, G., Gunadi, B., Gede, I., Putra, C., Ayu, I., & Yuliastuti, N. (n.d.). The Effects of Profitabilitas and Activity Ratio Toward Firms Value With Stock Price as Intervening Variables.
Nugraha, J. A., Halim, R., & Christiawan, Y. J. (2020). Pengaruh Efisiensi Modal Kerja, Solvabilitas Dan Pertumbuhan Penjualan Terhadap Profitabilitas Perusahaan Manufaktur Yang Terdaftar Di Bei Pada Tahun 2015-2019. Business Accounting Review, 8(1), 22–31.
Olimvia, O. :, Santi, A., S1, P., Siahaan, A. Y., Purba, R., & Susanti, E. (2014). PENGARUH PERPUTARAN PIUTANG TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN SUB SEKTOR TEKSTIL DAN GARMEN YANG LISTING DI BURSA EFEK INDONESIA. 2(2), 35.
Pangaribuan, H. (2024). PERAN LIKUIDITAS, MODAL KERJA, DAN KINERJA DALAM MENENTUKAN NILAI PERUSAHAAN: KASUS PT. ACE HARDWARE INDONESIA, TBK (2011-2020). In SCIENTIFIC JOURNAL OF REFLECTION: Economic, Accounting, Management and Business (Vol. 7, Issue 3).
Rika Gamayuni, R. (2015). The Effect Of Intangible Asset, Financial Performance And Financial Policies On The Firm Value. INTERNATIONAL JOURNAL OF SCIENTIFIC & TECHNOLOGY RESEARCH, 4, 1. www.ijstr.org
Rinaldy, S., & Kalalo, M. Y. (n.d.). CAPITAL STRUCTURE, WORKING CAPITAL TURNOVER, FIRM SIZE AND FIRM VALUE (STUDY IN LISTED COMPANIES ON IDX PROPERTY AND REAL ESTATE SECTOR FOR THE PERIOD 2018-2021) CAPITAL STRUCTURE, WORKING CAPITAL TURNOVER, FIRM SIZE, AND FIRM VALUE (STUDY IN LISTED COMPANIES ON IDX PROPERTY AND REAL ESTATE SECTOR FOR THE PERIOD 2018-2021).
Ross-Stephen-A.-Westerfield-Randolph-W.-Jordan-Bradford-D..-Fundamentals-of-Corporate-Finance.-9th-ed.-New-York-M1. (n.d.).
Schoubben, F., & Van Hulle, C. (2004). The determinants of leverage; differences between quoted and non quoted firms. DTEW Research Report 0450, 1–32.
Sekeroglu, G. (2020). The Relationship between Inventory Management and Profitability A Comparative Research on Turkish Firms Operated in Weaving Industry Eatables Industry Wholesale and Retail Industry. https://doi.org/10.5281/zenodo.1093140
Setia Rini, R., Puspitaningtyas, Z., & Prakoso, A. (2018). PENGARUH CURRENT RATIO, TOTAL ASSET TURNOVER DAN DEBT TO EQUITY RATIO TERHADAP PRICE TO BOOK VALUE DENGAN RETURN ON ASSET SEBAGAI VARIABEL INTERVENING (Studi Pada Perusahaan Sektor Industri Barang Konsumsi di Bursa Efek Indonesia Periode 2013-2017). Jurnal Profita, 11(3), 329–358. https://doi.org/10.22441/profita.2018.v11.03.001
Setiawan, M. R., Susanti, N., & Nugraha, N. M. (n.d.). Pengaruh Struktur Modal, Perputaran Modal Kerja, dan Ukuran Perusahaan Terhadap Nilai Perusahaan. https://doi.org/10.33395/owner.xxx.xxx
Sutedi, A. (2011). Good corporate governance. Sinar Grafika. https://books.google.co.id/books?id=A3S6XwAACAAJ
Tambusai, J. P., Tampubolon, G. C., & Putra, A. (n.d.). Analisis Pengaruh Struktur Modal, Likuiditas, dan Inventory Turnover terhadap Nilai Perusahaan pada Subsektor Property and Real Estate yang Terdaftar di Bursa Efek Indonesia Periode 2020-2022.
Utami, P., Ekonomi dan Bisnis, F., Budi Luhur, U., Raya Ciledug, J., Utara, P., & Selatan, J. (n.d.). PENGARUH CURRENT RATIO, RETURN ON ASSET, TOTAL ASSET TURNOVER DAN DEBT TO EQUITY RATIO TERHADAP NILAI PERUSAHAAN (Studi Empiris pada Perusahaan Manufaktur Sub Sektor Properti dan Real Estate Yang Terdaftar di Bursa Efek Indonesia Periode 2015-2017). In Universitas Budi Luhur (Vol. 8, Issue 1).
Utami, R. B., & Prasetiono, P. (2016). Analisis Pengaruh TATO, WCTO, dan DER Terhadap Nilai Perusahaan dengan ROA sebagai Variabel Intervening (Studi pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Periode Tahun 2009-2013). Diponegoro Journal of Management, 5(2), 105–118.
Van, J. C. (1997). Horne dan John M. Wachowicz. 2012. Prinsip-Prinsip. Manajemen Keuangan (Edisi 13).
Vijayakumaran, R. (2019). Efficiency of working capital management and firm value: Evidence from Chinese listed firms. International Journal of Financial Research, 10(6), 133–144. https://doi.org/10.5430/ijfr.v10n6p133
Warfield, T. D., Weygandt, J. J., & Kieso, D. E. (2007). Intermediate Accounting: Principles and Analysis. John Wiley & Sons.
Weston, J. (n.d.). Feed dan Thomas E. Copeland. 2010. Manajemen Keuangan.
Winarto, J. (2015). The Determinants of Manufacturer Firm Value in Indonesia Stock Exchange. International Journal of Information, Business and Management, 7(4).
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2024 Prima Yunita

This work is licensed under a Creative Commons Attribution 4.0 International License.







































