ANALISA PROFITABILITAS RUMAH SAKIT YANG TERDAFTAR DI PASAR MODAL THAILAND DAN INDONESIA PADA TAHUN 2015-2019
Main Article Content
Keywords
Manajemen Keuangan, Hospital Service, Panel Regression, Profitabilitas
Abstract
The purpose of this study was conducted to determine the effect of COGS ratio, operating cost ratio, size, net working capital and leverage on profitability of healthcare in Indonesia and Thai. Sample used were 6 and 24 hospitals listed on Indonesian’s and Thai’s capital markets for period 2015 – 2019. Based on results with panel regression modeling, COGS ratio, leverage, size and Net Working Capital have a significant effect on Indonesian's ROA; size, leverage and Net Working Capital have a significant effect on Indonesian's ROE; Operating Expense Ratio and Size have a significant effect on Thai's ROA; and Net Working Capital, Size, and leverage have a significant effect on Thai's ROE. The R2 values obtained for ROA and ROE models in Indonesia were 91.08% and 97.99%, while Thai has 87.77% and 87.35%.
References
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Susanti, J., & Saputra, M. D. (2015). Pengaruh Working Capital, Firm Size, Debt Ratio, Dan Fixed Asset Ratio Terhadap Profitabilitas (Studi Pada Perusahaan Real Estate Dan Property terdaftar di BEI tahun 2011-2014). Jurnal Valid, 12(3), 379–387.
Swarnapali, R. M. N. C. (2014). Firm Specific Determinants and Financial Performance of Licensed Commercial Banks in Sri Lanka. International Conference on Management and Economics (hal. 247–252).
Vaseva, V., & Doynovska, R. (2013). Profitability and Efficiency in Material Recourses Usage in Hospital Ward. Balkan Military Medical Review, 16, 291.
Wijaya, A. L. (2012). Pengaruh Komponen Working Capital Terhadap Profitabilitas Perusahaan. Jurnal Dinamika Akuntansi, 4(1), 20–26.
Amyulianthy, R., & Sari, N. (2013). Pengaruh Diversifikasi terhadap Kinerja Perusahaan. Binus Business Review, 4(1), 215–230.
Arta, I. K. S., Wahyuni, M. A., & Agus, I. G. Y. (2020). Pengaruh Perputaran Persediaan, Pertumbuhan Penjualan, Tingkat HPP, dan Inflasi terhadap Profitabilitas pada PT. Perikanan Nusantara (Persero) Cabang Benoa Tahun 2016-2018. Jurnal Ilmiah Mahasiswa Akuntansi, 11(3), 354–363.
Baltagi, B. H. (2005). Econometrics Analysis of Data Panel (3rd editio.). John Wiley & Sons Ltd.
Basole, R. C., Ghosh, S., & Hora, M. S. (2017). Supply Network Structure and Firm Performance: Evidence From the Electronics Industry. IEEE Transactions on Engineering Management, 65(1), 141–154.
Dalci, I. (2018). Impact of financial leverage on profitability of listed manufacturing firms in China. Pacific Accounting Review, 30(4), 410–432. Emerald Publishing Limited. Diambil dari https://doi.org/10.1108/PAR-01-2018-0008
Donangelo, A., Gourio, F., Kehrig, M., & Palacios, M. (2019). The Cross-Section of Labor Leverage and Equity Returns. Journal of Financial Economics, 132(2), 497–518. Elsevier B.V.
Harapan, A., & Prasetiono, H. (2016). Pengaruh Average Collection Period , Average Payment Period , Turnover in Days , Sales Growth Dan Debt Ratio Terhadap Profitabilitas Perusahaan. Diponegoro Journal of Management, 5, 1–11.
Holsapple, C. W., & Wu, J. (2011). An Elusive Antecedent of Superior Firm Performance: The Knowledge Management Factor. Decision Support Systems, 52(1), 271–283. Elsevier B.V.
Houke, C. T., Ivory, R. C., & Amaria, P. (2010). Assessing Hospital Profitability - Does Hospital Size Make a Difference? American Journal of Business Research, 3(2), 111–130.
Jȩdrzejczak-Gas, J. (2017). Net Working Capital Management Strategies in the Construction Enterprises Listed on the NewConnect Market. Procedia Engineering (Vol. 182, hal. 306–313). The Author(s).
Jensen, M. C. (1986). Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers. Proceedings of the Ninety-Eighth Annual Meeting of the American Economic Association (hal. 323–329). American Economic Association.
Kashmir. (2018). Analisis Laporan Keuangan. Jakarta: Raja Grafindo Persada.
Krzeczewski, B. (2016). The Problem of Liquidity Management in Hospital and Its Impact on Profitability. 18th International Scientific Conference on Economic and Social Development – “Building Resilient Society” (hal. 215–223). Croatia.
Mandilas, A., Maditinos, D., Dimitriadis, E., & Nikolaidis, M. (2008). Profitability of Constructing Sector and How Market Structure, Cost Structure and Concentration Affect It: The Case of Greece. 7th International Symposium ‘Economy & Business’’’ (hal. 1–28). Bulgaria.
Modigliani, F., & Miller, M. H. (1963). Corporate Income Taxes and the Cost of Capital: A Correction. The American Economic Review, 53(3), 433–443.
Mun, S. G., & Jang, S. C. (Shawn). (2018). Restaurant Operating Expenses and Their Effects on Profitability Enhancement. International Journal of Hospitality Management, 71, 68–76.
Popesko, B., Novák, P., & Papadaki, Š. (2015). Measuring Diagnosis and Patient Profitability in healthcare: Economics vs ethics. Economics and Sociology, 8(1), 234–245.
Ritonga, M. (2014). Pengaruh Financial Leverage terhadap Profitabilitas (Studi pada Perusahaan Makanan dan Minuman yang Terdaftar pada Bursa Efek Indonesia Periode Tahun 2010-2012). Jurnal Administrasi Bisnis S1 Universitas Brawijaya, 8(2), 80641.
Rudangga, I. G. N. G., & Sudiarta, G. M. (2016). Pengaruh Ukuran Perusahaan, Leverage, Dan Profitabilitas Terhadap Modal Intelektual Perusahaan. E-Jurnal Manajemen Universitas Udayana, 5(7), 4394–4422.
Samosir, H., & Grace, C. (2018). Pengaruh Biaya Operasional (Operating Expense), Der (Debt To Equity Ratio), Dan Cr (Current Ratio) Terhadap Profitabilitas Pada Perusahaan Sektor Manufaktur Di Bei (Bursa Efek Indonesia) Tahun 2012-2015. Journal of Chemical Information and Modeling, 3(1), 75–94.
Singh, Rauscher, S., Wheeler, & John. (2012). Hospital Financial Management: What Is the Link Between Revenue Cycle Management, Profitability, and Not-for-Profit Hospitals’ Ability to Grow Equity? Journal of Healthcare Management, 57(5), 325–341.
Siregar, A. A., Achsani, N. A., & Sasongko, H. (2021). Pengaruh Tax Amnesty terhadap Profitabilitas Perusahaan yang Terdaftar di Bursa Efek Indonesia. Jurnal Aplikasi Manajemen dan Bisnis, 7(1), 86–97.
Sugiyono. (2014). Metode Penelitian Pendidikan: Pendekatan Kuantitatif, Kualitatif, dan R&D. Bandung: Alfabeta.
Susanti, J., & Saputra, M. D. (2015). Pengaruh Working Capital, Firm Size, Debt Ratio, Dan Fixed Asset Ratio Terhadap Profitabilitas (Studi Pada Perusahaan Real Estate Dan Property terdaftar di BEI tahun 2011-2014). Jurnal Valid, 12(3), 379–387.
Swarnapali, R. M. N. C. (2014). Firm Specific Determinants and Financial Performance of Licensed Commercial Banks in Sri Lanka. International Conference on Management and Economics (hal. 247–252).
Vaseva, V., & Doynovska, R. (2013). Profitability and Efficiency in Material Recourses Usage in Hospital Ward. Balkan Military Medical Review, 16, 291.
Wijaya, A. L. (2012). Pengaruh Komponen Working Capital Terhadap Profitabilitas Perusahaan. Jurnal Dinamika Akuntansi, 4(1), 20–26.
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Published
Nov 19, 2021
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How to Cite
Faustina, C., & Ugut, G. (2021). ANALISA PROFITABILITAS RUMAH SAKIT YANG TERDAFTAR DI PASAR MODAL THAILAND DAN INDONESIA PADA TAHUN 2015-2019. SIMAK, 19(02), 355-373. https://doi.org/https://doi.org/10.35129/simak.v19i02.243
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