Factors Affecting the Performance of F&B Industry in Malaysia and Indonesia

Agung Masyad Fawzi; Sunarti Sunarti

doi:10.21831/economia.v17i1.36010

Factors Affecting the Performance of F&B Industry in Malaysia and Indonesia

Agung Masyad Fawzi, Universiti Utara Malaysia, Malaysia
Sunarti Sunarti, Universiti Utara Malaysia, Malaysia

10.21831/economia.v17i1.36010

Abstract

Abstract: This study investigated the influence of financial ratios on company’s performance in Malaysia and Indonesia F&B industry period 2011 – 2018. The samples generated 37 F&B companies and 12 F&B companies listed on Bursa Malaysia and Indonesia Stock Exchange respectively. By using multiple regression analysis for panel data, the study revealed that CR and DER had no influence on ROA, while TAT and NPM had positive effect on ROA. Also, CR and DER had no influence on ROE in Malaysia F&B industry, but then, these variables had positive effect on ROE in Indonesia F&B industry. While TAT and NPM had positive effect on ROE. This paper is expected to provide beneficial information to related parties to take better consideration on the actual variables having significant effect on company’s ROA and ROE. This paper is also academically expected to be a beneficial reference for further research development.

Keywords: F&B Industry, financial ratios, company’s performance, Indonesia, Malaysia.

Faktor-Faktor yang Mempengaruhi Kinerja Industri Makanan dan Minuman di Malaysia dan Indonesia

Abstrak: Penelitian ini bertujuan untuk menganalisis pengaruh rasio keuangan terhadap kinerja perusahaan di industri makanan dan minuman di Malaysia dan Indonesia periode 2011 - 2018. Sampel penelitian adalah 37 perusahaan makanan dan minuman yang terdaftar di Bursa Malaysia dan 12 perusahaan makanan dan minuman yang terdaftar di Bursa Efek Indonesia. Hasil penelitian dari analisis regresi berganda untuk data panel menunjukkan bahwa CR dan DER tidak berpengaruh terhadap ROA, TAT dan NPM berpengaruh positif terhadap ROA. CR dan DER tidak berpengaruh terhadap ROE pada industri makanan dan minuman di Malaysia, namun berpengaruh positif terhadap ROE di Indonesia. TAT dan NPM berpengaruh positif terhadap ROE. Makalah ini diharapkan dapat memberikan informasi keuangan yang bermanfaat bagi manajemen perusahaan terkait untuk lebih mempertimbangkan variabel aktual yang berpengaruh signifikan terhadap penilaian ROA dan ROE pada perusahaan. Makalah ini juga diharapkan secara akademis dapat menjadi referensi yang bermanfaat untuk pengembangan penelitian selanjutnya.

Kata kunci: industri makanan dan minuman, rasio utang terhadap ekuitas, kinerja perusahaan, Indonesia, Malaysia

Keywords

F&B Industry, Debt to Equity Ratio, Current Ratio, Net Profit Margin, Total Asset Turnover, Return on Equity, Return on Asset.

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DOI: https://doi.org/10.21831/economia.v17i1.36010