Eva 6
Eva 6
Dummy variable (1 industri, 0 jasa - Non-financial), GDP expectation (Macroeconomic), Interest rate
expectation (Macroeconomic), Inflation expectation (Macroeconomic), Quick Ratio (Liquidity),
Working Capital / Total Assets (Liquidity), Suppliers / Total Assets (Leverage), Net Equity / Total
Liabilities (Leverage), Asset Turnover (Activity)
LT D/TD (Long-term debt / total debt - Leverage), WC/TA (Working capital / total assets - Liquidity),
OPBAT/CF (OPBAT / capital fund - Profitability), OPBAT/Sales (Profitability), GTA (Growth in total
asset - Growth), Quick Ratio (Liquidity)
F_ROA (Net Income / Total Asset, 1 jika positif), F_∆ROA (1 jika ROA tahun n lebih tinggi dari n-1),
F_CFO/TA (Cash Flow from Operation / Total Asset, 1 jika positif), F_Accrual (1 jika CFO > ROA),
F_∆Margin (1 jika Gross margin ratio tahun n lebih tinggi dari n-1), F_∆Turnover (1 jika Asset
turnover ratio tahun n lebih tinggi dari n-1), F_∆Leverage (1 jika leverage ratio tahun n lebih rendah
dari n-1), F_∆Liquidity (1 jika Current ratio tahun n lebih tinggi dari n-1), F_Eq_Offer (1 jika jumlah
saham beredar tahun n lebih banyak dari n-1)
Working capital / Total assets, Retained earnings / Total assets, EBIT / Total assets, Market value of
equity / Outside capital, Sales / Total equity
Logarithm of total assets / GDP price level, Total liabilities / Total assets, Working capital / Total
assets, Current liabilities / Current assets, Earnings after tax (EAT) / Total assets, Financial expenses /
Total liabilities, 1 if net profit was negative in the last two years, 1 if total liabilities exceeded total
assets, Measures the change in net income
Total Assets / Total Liabilities, Earnings Before Interest and Taxes / Interest Expense, Earnings Before
Interest and Taxes / Total Assets, Operating Revenue / Total Assets, Current Assets / Current
Liabilities
Total Assets / Total Liabilities, Earnings Before Interest and Taxes / Interest Expense, Earnings Before
Interest and Taxes / Total Assets, Operating Revenue / Total Assets, Current Assets / Current
Liabilities
Operating profit margin (Profitability), Return on total assets (Profitability), Net profit margin
(Profitability), Cost profit margin (Profitability), Turnover rate of accounts receivable (Activity),
Turnover rate of inventory (Activity), Turnover rate of total assets (Activity), Turnover rate of fixed
assets (Activity), Turnover rate of current assets (Activity), Net operating cash flow and debt ratio
(Liquidity), Property right ratio (Leverage), Asset liability ratio (Leverage), Liquidity ratio (Liquidity),
Quick ratio (Liquidity), Net cash flow to net profit ratio of operating activities (Cash Flow), Growth
rate of operating revenue (Growth), Growth rate of net asset (Growth), Growth rate of total assets
(Growth), Operating cash flow per share (Cash Flow)
Total assets (Size), Fixed assets (Asset), Intangible fixed assets (Asset), Current assets (Asset),
Inventories (Asset), Short-term receivables (Liquidity), Financial assets (Asset), Total liabilities
(Leverage), Equity (Solvency), Reserve funds and other reserves (Solvency), Profit/loss brought
forward (Profitability), Profit and loss of the current financial period (Profitability), External
resources (Leverage), Current liabilities (Leverage), Production (Activity), Production consumption
(Activity), Material and energy consumption (Activity), Services (Activity), Value added (Activity),
Payroll costs (Expense), Social security and health insurance costs (Expense), Depreciation of
intangible and tangible fixed assets (Expense)
Total Liabilities to Total Assets (Leverage), Short-Term Liabilities to Total Assets (Leverage), Liquidity
(Liquidity), Sales to Total Assets (Activity), Earnings Before Interest and Taxes to Total Assets
(Profitability), Net Income to Share Capital (Profitability), Logarithm of Total Assets (Size), Logarithm
of Share Capital (Size), Company Age (Non-financial), Controlling Shareholder (Non-financial),
Foreign Ownership (Non-financial), Number of Directors on the Board (Non-financial), GENDER (Non-
financial)
ROA (Return on Assets - Profitability), Debt Ratio (Leverage), Current Ratio (Liquidity), Quick Ratio
(Liquidity), Interest Expense Ratio (Profitability), Inventory Turnover (Activity), Accounts Receivable
Turnover (Activity), Total Assets Turnover (Activity), Equity Pledge Shareholding Ratio of Directors
and Supervisors (Corporate Governance), Shareholding Ratio of Block Shareholders (Corporate
Governance)