Erkaningrum F, Indri and Jatmiko Wibowo, Alexander (2021) Determinan Risiko Bisnis: Studi Empiris pada Perusahaan-Perusahaan Manufaktur di Indonesia. Analisis: Jurnal Bisnis dan Akuntansi, 20 (01). ISSN 1978-9750

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Abstract

Asymmetric information makes the policies taken by the managers used to detect the company's prospects. Financial policies are taken to make the business risks more controlled. This research uses multiple linear regression method to empirically verify the factors influencing the business risk. The data used are 1,230 of 82 manufacturing companies publishing complete financial statements from the year of 2002 to 2016. The analysis result of the period of 2002 to 2006 shows that investment, debt, size, asset structure, and dividend negatively influence business risk; liquidity, sales growth, profitability, variability of earnings and Q ratio do not influence business risk. The analysis result of the period of 2007 to 2011 shows that debt, sales growth, and variability of earnings positively influence business risk; investment, size, asset structure, and Q ratio negatively influence business risk; liquidity, profitability and dividend do not influence business risk. The analysis result of the period of 2012 to 2016 shows that liquidity, profitability, and variability of earnings positively influence business risk; investment and size negatively influence business risk; debt, asset structure, sales growth, dividend, and Q ratio do not influence business risk. The analysis result of the period of 2002 to 2016 shows that debt, sales growth, and variability of earnings positively influence business risk; investment, size, and asset structure negatively influence business risk; liquidity, profitability, dividend, and Q ratio do not influence business risk.

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