Muhammad Ikhlasillah - Academia.edu (original) (raw)
i am graduated from chemical engineering and accounting faculties as well as master of accounting. Having experience in ammonia plant, sales and technical service for syngas catalyst field. I also have prepared some financial feasibility studies for some projects.
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This study aims to examine the implications of the financial distress, interest rate and exchange... more This study aims to examine the implications of the financial distress, interest rate and exchange rate to stock returns on textile and garment companies in Indonesia, which listed on the Indonesia Stock Exchange for the period 2012-2015. The operating cash flow is used as a moderating variable to examine the correlation between financial distress and stock returns. There are 15 companies that are used as samples for the study were selected based on purposive sampling method. Meanwhile, fixed effect model of the data panel linear regression method selected for data analysis. The quantitative data was taken from ICMD and Capital Market Reference Center Indonesia Stock Exchange. By using significance level of 5%, study results showed financial distress as Altman Z-score influence positively but insignificant on stock returns and depreciation of exchange rate influence positively and significant on stock returns. Meanwhile, increasing interest rate impact on stock returns negatively but...
This study aims to examine the implications of the financial distress, interest rate and exchange... more This study aims to examine the implications of the financial distress, interest rate and exchange rate to stock returns on textile and garment companies in Indonesia, which listed on the Indonesia Stock Exchange for the period 2012-2015. The operating cash flow is used as a moderating variable to examine the correlation between financial distress and stock returns. There are 15 companies that are used as samples for the study were selected based on purposive sampling method. Meanwhile, fixed effect model of the data panel linear regression method selected for data analysis. The quantitative data was taken from ICMD and Capital Market Reference Center Indonesia Stock Exchange. By using significance level of 5%, study results showed financial distress as Altman Z-score influence positively but insignificant on stock returns and depreciation of exchange rate influence positively and significant on stock returns. Meanwhile, increasing interest rate impact on stock returns negatively but...