PENGARUH EKSEKUTIF WANITA, STRUKTUR MODAL, DAN PERTUMBUHAN LABA TERHADAP FINANCIAL DISTRESS

The purpose of this study is to find out empirically about the influence of female executives, capital structure, and profit growth on financial distress either partially or simultaneously in retail sub-sector companies listed on the Indonesia Stock Exchange in the 2015-2019 period. This research uses causal-comparative research which is used to determine the causal relationship between two or more variables. The sample in this study is retail companies listed on the Indonesia Stock Exchange for the 2015-2019 period using the purposive sampling method. There are 10 companies that meet the criteria of the research sample, so the sample is 50 financial statements. The results showed that partially there was a capital structure variable (debt to equity ratio) that had a negative effect on financial distress, profit growth variables had a negative effect on financial distress, and female executives had no effect on financial distress.Keywords: Female Executives, Capital Structure, Profit Growth, Financial Distres

Forecast-planning system of financial support for the development of industrial enterprises

The aim of the article is to develop a forecast-planned system of financial support for enterprise development based on approaches to forecasting factors influencing the need for financial resources to ensure enterprise development and planning financial support for enterprise development. In order to ensure high-quality and accurate forecasting of external and internal environmental factors necessary for further planning and the possibility of sound planning, the system has formed forecasting and planning modules. Based on the structure of the forecasting module with the identification of key factors influencing the financial security of the enterprise and comparing the most effective forecasting methods, an approach to forecasting factors influencing the need for financial resources in ensuring the development of agricultural machinery. The forecasting module is built by combining quantitative forecasting methods based on the approximation of existing trends with quantitative and qualitative approaches based on expert assessments. Based on a combination of balance, calculation-analytical and program-target planning and formalization of the choice of the date of the beginning of measures to manage financial security depending on the importance of the event, an approach to planning financial support for enterprise development. In the planning module, the external element in relation to the financial management system is the goal-setting system of the enterprise, which determines the mission and its goals in the areas of development. Approbation of the forecast-planning system at PJSC "Harvesters" was carried out. The results would be useful for practitioners, for the effective implementation of sustainable planning and forecasting of enterprise resources in accordance with the objectives of its development

Simulation Applications in Company Default Prediction

This study applies a simulation methodology, Monte Carlo, to the field of corporate default prediction, where its presence is only superficial. It attempts to augment a famous model from a methodology already highly supported in traditional literature – the Z”-score of Altman (1983), created through multiple discriminant analysis – and transform it stochastically without the use of the highly complex intelligent models already available in literature. A sample of 20 000 Portuguese companies from the Agriculture, Forestry, Fishing, Mining and Construction sectors is analyzed, yielding results that support the Monte Carlo method as a strong competitor for simple approaches like the logit transformation. This helps to build the foundation for what may possibly be a path towards models easier to apply in practice for the average Micro, Small and Medium enterprise (MSME) and beyond. The evaluation to the model on this study also takes inspiration off the innovative points of view of Mitton (2021) and Zhang (2022) to scrutinize results through empirical tests of the model under a high number of parameter conditions, instead of relying heavily on statistical significance, which is often overrepresented and overvalued in literature, and easily manipulatable