scholarly journals Capital Structure as Driving Force of Financial Performance: Case of Energy and Fuel Sector of Pakistan

2017 ◽  
Vol 7 (1) ◽  
Author(s):  
Idrees Liaqat ◽  
Shamila Saddique ◽  
Tanveer Bagh ◽  
Muhammad Atif Khan ◽  
Mirza Muhammad Naseer ◽  
...  
Keyword(s):  
Capital Structure ◽  
Financial Performance ◽  
Default Risk ◽  
Negative Impact ◽  
Secondary Data ◽  
Energy Sector ◽  
Equity Financing ◽  
Significant Negative Impact ◽  
Research Findings ◽  
The Impact

Choosing the appropriate mix of various short and long term sources of funds, stands among the acute decisions to be taken by management of the firms, to form elementary suitability for investment and other decisions. Literature lacking consensus pertinent to impact of capital structure on financial performance of the firms. This study intends to investigate the impact of capital structure on financial performance of fuel and energy sector of Pakistan taking into account secondary data from 2006-14. Empirical results of renowned econometric model multiple regression revealed that there is a significant negative impact of capital structure on ROA and ROE of firms in fuel & energy sector of Pakistan, while EPS is least driven by capital structure parameters, only the size has significant positive bearing on EPS. The research findings suggest provide policy makers and administrators to rely on equity financing rather debt ethos in order to mitigate the default risk exposure.

scholarly journals Analisis Dampak Struktur Modal Terhadap Profitabilitas

2018 ◽  
Vol 1 (1) ◽  
Author(s):  
Dwi Setiarini ◽  
Sujiono Sujiono ◽  
Hadi Sumarsono
Keyword(s):  
Capital Structure ◽  
Negative Impact ◽  
Secondary Data ◽  
T Test ◽  
Return On Assets ◽  
Credit Cooperatives ◽  
Equity Ratio ◽  
Data Source ◽  
The Impact ◽  
The Capital Structure

Funding is an important issue that is taken into account by the company, both for the establishment and expansion of the business. Capital structure has an impact on profitability, with the improvement in capital structure, the company gives profits. The purpose of this study was to determine the impact of the capital structure measured by Debt to Equity Ratio (DER) on profitability as measured by Return on Assets (ROA) partially in Sharia Savings and Credit Cooperatives Cooperatives or KSK Komment Year 2016 - 2019. This researcher uses regression analysis simple linear and t test. The data source used in this study is secondary data. The results of the study concluded that the capital structure measured by Debt to Equity Ratio (DER) partially had a negative impact on Return on Assets (ROA). While the t test on the variable Debt to Equity Ratio (DER) partially proved to have no significant impact on Return on Assets (ROA).

scholarly journals Ownership Structure, Corporate Governance and Capital Structure of Non-Financial Firms of Pakistan

2018 ◽  
Vol 10 (1) ◽  
pp. 31-46
Author(s):  
Hassan Ahmad ◽  
Nasreen Akhter ◽  
Tariq Siddiq ◽  
Zahid Iqbal
Keyword(s):  
Corporate Governance ◽  
Capital Structure ◽  
Ownership Structure ◽  
Negative Impact ◽  
Institutional Ownership ◽  
Board Independence ◽  
Managerial Ownership ◽  
Debt Ratio ◽  
Significant Negative Impact ◽  
The Impact

This study is undertaken with the purpose of investigating the impact of ownership structure and corporate governance on the capital structure of Pakistani listed firms from 2011-2014, feasible general least square is used to investigate the impact of ownership structure and corporate governance on capital structure of KSE 100 index firms. Explanatory variables include ownership concentration, managerial ownership, foreign ownership, institutional ownership, board size, board independence and CEO duality along with the three control variables namely firm size, firm profitability and liquidity. There is insignificant positive relationship between ownership concentration and capital structure, managerial ownership has a significant negative impact on debt ratio. Foreign ownership has also a significant negative impact on firm capital structure and institutional ownership has significant positive impact on capital structure. Board size is positively related to capital structure, board independence also positively related to firm’s debt ratio but CEO duality negatively related to the dependent variable, all these variables have significant impact on capital structure of Pakistani firms. 

scholarly journals The Impact of Population Density and Economic Growth on Environmental Quality: Study in Indonesia

2021 ◽  
Vol 22 (2) ◽  
pp. 301-312
Author(s):  
Abdulloh Nashiruddin Wafiq ◽  
Suryanto Suryanto
Keyword(s):  
Economic Growth ◽  
Population Density ◽  
Environmental Quality ◽  
Quality Index ◽  
Negative Impact ◽  
Pearson Correlation ◽  
Secondary Data ◽  
Significant Negative Impact ◽  
Sustainable Economic Growth ◽  
The Impact

Sustainable economic growth is followed by an improvement in environmental quality. The purpose of this study is to identify the correlation between economic growth and population density on the environmental quality index (EQI) in Indonesia. In addition, it also aims to determine the impact of economic growth and population density on the environmental quality Index. This study uses a quantitative method with secondary data from 33 provinces in Indonesia from 2010 to 2016. Data were analyzed using Pearson correlation and panel data regression. The result showed that the correlation between economic growth and population density on the quality of the environment was moderate. It has a significant negative impact on environmental quality.

scholarly journals Model Kinerja Finansial Pemerintah Daerah Melalui Aset dan Pendapatan Asli Daerah

2021 ◽  
Vol 18 (1) ◽  
pp. 36
Author(s):  
Kun Ismawati
Keyword(s):  
Financial Performance ◽  
Negative Impact ◽  
Positive Impact ◽  
Capital Expenditure ◽  
Linear Regression Analysis ◽  
Financial Statements ◽  
Multiple Linear Regression Analysis ◽  
Regional Government ◽  
Significant Negative Impact ◽  
The Impact

ABSTRACT  The research aimed to explore financial performance’s model of the Karanganyar Regency Regional Government. This research tested the impact of size, richness, leverage, and capital expenditure on the financial performance of the Karanganyar Regency Regional Government. Research data were 8 (eight) periods of financial statements. Hypotheses analyzed with multiple linear regression. Analysis results showed that size and richness have a significant positive impact on the financial performance of Karanganyar Regency Regional Government; while leverage and capital expenditure have a significant negative impact on the financial performance of the Karanganyar Regional Government. Those results illustrates that greater size and richness will increase the financial performance; on the contrary, the greater leverage and capital expenditure will decrease the financial performance. The model explored is Y = -75.79 + 109.039X1 + 3.754X2 – 0.582X3 – 0.231X4. Keywords                    : size; richness; leverage; capital expenditure; regional government                                      financial performanceCorrespondence to        : [email protected] ABSTRAK Penelitian ini bertujuan menggali model kinerja finansial Pemerintah Daerah Kabupaten Karanganyar. Penelitian ini menguji pengaruh ukuran, kekayaan, leverage, dan belanja modal pada kinerja finansial Pemerintah Daerah Kabupaten Karanganyar. Data penelitian ini adalah 8 (delapan) periode laporan keuangan. Hipotesis dianalisis dengan regresi linear berganda. Hasil analisis menunjukkan bahwa ukuran dan kekayaan memiliki dampak positif signifikan pada kinerja finansial Pemerintah Daerah Kabupaten Karanganyar; sedangkan leverage dan belanja modal memiliki dampak negatif signifikan terhadap kinerja finansial pada Pemerintah Daerah Kabupaten Karanganyar. Hasil-hasil tersebut menggambarkan bahwa makin besar ukuran dan kekayaan akan meningkatkan kinerja finansial; sebaliknya, makin besar leverage dan belanja modal akan menurunkan kinerja finansial. Model yang tergali adalah: Y = -75.79 + 109.039X1 + 3.754X2 – 0.582X3 – 0.231X4. Kata kunci                  : ukuran; kekayaan; leverage; belanja modal; kinerja finansial                                      pemerintah daerah

scholarly journals Corporate Governance and Financial Performance of Money Deposit Banks in Nigeria

2021 ◽  
Vol 7 (1) ◽  
pp. 75-98
Author(s):  
Bilqis Bolanle Amole ◽  
Ik Muo ◽  
Kamaldeen A. Lawal
Keyword(s):  
Corporate Governance ◽  
Financial Performance ◽  
Board Of Directors ◽  
Audit Committee ◽  
Negative Impact ◽  
Secondary Data ◽  
Least Square ◽  
Executive Directors ◽  
Study Results ◽  
The Impact

Purpose. The main cause of distress in the majority of Nigerian banks is poor corporate governance in the country. Corporate governance (CG) is a contemporary subject attracting the consideration of the corporate world, practitioners, consultants, academia and society at large. As a result, this study explores the financial performance (FP) of money deposit banks (MDBs) in Nigeria as a result of corporate governance put in. It went on to investigate the impact of board size and composition, as well as the audit committee, on bank financial performance. Methodology. A descriptive design method was adopted, while secondary data in the form of yearly financial reports of banks selected for the study were obtained and relevant documents via electronic search of databases. Descriptive statistics were used in analyzing the data and an econometric model of panel least square (PLS) regression test was employed for the study. Findings and Implication. The findings affirmed that the correlation between size of board of directors and bank performance was significant, however negative. The results of the study show that the board of directors (BOD) composition significantly influences the FP of MDBs. The study results further reveal that the correlation between size of the audit committee (AC) and FP of MDBs is significant and also a negative one. As a result, based on the empirical findings of the study, it is concluded that CG has a statistically significant influence on the FP of Nigeria’s listed money deposit banks. Mechanisms such as the large size and composition of the board as well as the size of the audit committee encourage a negative impact on the FP. In line with the foregoing, the study recommended that an effort be made to improve CG, in the sense that the number of directors on board should be kept to a desirable level, and that the ratio of executive directors to non-executive directors, as well as the size of the audit committee, is kept at an optimal level.

scholarly journals Capital Structure and Organizational Performance: Evidence from Nigerian Food and Beverage Companies

2019 ◽  
pp. 1-9
Author(s):  
G. T. Ayo-Oyebiyi
Keyword(s):  
Capital Structure ◽  
Financial Performance ◽  
Organizational Performance ◽  
Stock Exchange ◽  
Secondary Data ◽  
Food And Beverages ◽  
Beverage Industry ◽  
Food And Beverage Industry ◽  
Food And Beverage ◽  
The Impact

This study seeks to investigate the impact of capital structure on the performance of organizational performance with particular reference to Nigerian Food and Beverage Companies. Secondary data was used for this study. It was adopted from the audited financial statements of the listed food and beverages companies in the Nigerian Stock Exchange (NSE), for the period of the year 2014 – 2018. The method of analysis used was Pearson Moment Correlation Coefficient and Linear Regressions. The results reveal that firm leverage, tangibility of assets and liquidity have an inverse relationship with the financial performance of the Nigerian food and beverage industry, while, growth and firm’s size have a positive relationship with the financial performance of Nigerian food and beverages industry.  The study, recommends that Nigerian Food and Beverage should, therefore, strike a balance between their choice of capital structure and the effect on its performance as it affects the shareholder's risks.

Improving China's alfalfa industry development: an economic analysis

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Wenxin Wang
Keyword(s):  
Negative Impact ◽  
Arable Land ◽  
Secondary Data ◽  
Influential Factors ◽  
Content Type ◽  
Measurement Results ◽  
Significant Negative Impact ◽  
Negative Effect ◽  
The Impact ◽  
Positive Effect

PurposeThis study analyzes the factors which affect the alfalfa cultivation acreage in China and estimates the development of alfalfa planting by the supply model.Design/methodology/approachBased on the characteristics and actual conditions of alfalfa cultivation in China, a naïve empirical model was created to analyze the impact of various influencing factors on the cultivation acreage of alfalfa.FindingsThe analysis of influential factors shows that China's alfalfa planting conforms to naïve price behavior. The prices of alfalfa and per capita arable land occupancy have a positive effect on the cultivation acreage, while the price of competitive crops and transportation costs have a negative effect on the production of alfalfa. Lastly, the 2012 alfalfa subsidy policy has a significant negative impact on alfalfa cultivation acreage.Research limitations/implicationsDue to the limited research on alfalfa supply in China, there is a lack of available research data and statistical data. A large number of data in this study are mainly indirect data derived and calculated from other industrial data. The measurement results may not be fully accurate.Originality/valueThis study represents the first empirical analysis of the characteristics of the factors influencing alfalfa cultivation acreage in China. The secondary data were used to analyze the influence of various control variables on the cultivation acreage of alfalfa, which is different from existing research.

scholarly journals Impact of Capital Structure on Firm’s Performance: Focusing on Non-financial Listed Egyptian Firms

2019 ◽  
Vol 10 (6) ◽  
pp. 78 ◽  
Author(s):  
Ahmed Sakr ◽  
Amina Bedeir
Keyword(s):  
Capital Structure ◽  
Negative Impact ◽  
Short Term ◽  
Total Debt ◽  
Significant Negative Impact ◽  
Two Measures ◽  
Independent Variable ◽  
Measure Of Performance ◽  
The Impact

The purpose of this paper is to investigate the impact of capital structure decisions on the performance of the firm. The investigation has been performed using a data of 62 listed non-financial Egyptian firms over a period of fourteen years from 2003-2016. This study used two measures for performance the dependent variable which are ROA and ROE, the most common used measures agreed upon on the majority of previous studies. Whereas, for the independent variable “the capital structure, the study uses the three measures of capital structure which are total debt to total assets (TD), total short-term debt to total assets (STD), and total long-term debt to total assets (LTD). The results showed when using ROA as a measure of performance, a significant negative impact of capital structure (TD, STD, and LTD) exists; while in case of using ROE as a measure of performance, there’s a significant negative impact of capital structure only when using STD, otherwise a positive significant impact of capital structure exist.

scholarly journals ANALYSIS OF CAPITAL STRUCTURE AND FINANCIAL PERFORMANCE IN THE JORDANIAN INSURANCE SECTOR

2020 ◽  
Vol 8 (3) ◽  
pp. 1310-1320
Author(s):  
Zelhuda Shamsuddin ◽  
Al Majali Muhammad Ahmad Kamel ◽  
Wan Mohd Nazri Wan Daud ◽  
Wan Sallha Yusoff
Keyword(s):  
Capital Structure ◽  
Financial Performance ◽  
Insurance Companies ◽  
Tobin’S Q ◽  
Short Term ◽  
Equity Financing ◽  
Tobin's Q ◽  
Return On Equity ◽  
Insurance Firms ◽  
The Impact

Purpose of the study: This paper aims to examine the impact of capital structure and financial performance of listed insurance companies in Jordon. Methodology: This study used secondary data that was collected from Amman stock exchange and annual report of the selected insurance companies from the year 2007-2017. The static panel data analysis technique is used to examine the impact of capital structure on firm’s performance. The capital structure is measured using short-term debt, long-term debt, and equity financing. Whereas financial performance is measured using Return on Asset (ROA), Return on equity (ROE), and Tobin’s Q. Main Findings: The study findings suggest that capital structure influence the profitability of the listed insurance firms in Jordan. The results also reveal a significantly positive relation between long-term debt to total assets to profitability indicators, namely, return on assets (ROA), return on equity (ROE) and Tobin’s Q. On the other hand, the results also reveal a short-term debt has a significant positive relationship with return on equity (ROE) and returns on assets (ROA). However, a relationship between short-term debt and Tobin’s Q is not statistically significant. Applications of this study: The result of this study may assist the insurance sector in Jordon in making decisions regarding capital structure, which is to significantly rely on equity financing or debt financing to reduce financing risk such as agency cost that borne by the equity holders of the Jordanian insurance firms. Novelty/Originality of this study: The study noted that insurance firms generally play a crucial role in the economic development of every country. This study provides evidence that Jordanian insurance firms need to diversify their sources of financing and not rely significantly on debt financing, as the results prove that equity financing is a profitable source of financing.

scholarly journals Pengaruh Dimensi Kualitas Pelayanan Terhadap Loyalitas Penumpang Trans Padang

Jurnal Ecogen ◽  
2020 ◽  
Vol 3 (4) ◽  
pp. 562
Author(s):  
Aris Agung Wicaksono ◽  
Okki Trinanda
Keyword(s):  
Data Analysis ◽  
Sample Size ◽  
Negative Impact ◽  
Positive Impact ◽  
Secondary Data ◽  
Total Sample ◽  
Analysis Method ◽  
Significant Negative Impact ◽  
In Trans ◽  
The Impact

The aim of this study was to determine the impact of service quality in passenger retention in Trans Padang. These researchs were descriptive and quantitative. The study consist of residents in Padang, who frequently use the Trans Padang Pasar Raya – Lubuk Buaya route. The data used were primary and secondary data. We used questionnaires and documents. The sample of this technique was a targeted sample with a total sample size of 100 respondents. This analysis method had been use repeatedly with SPSS version 23 regrression analysis. The hypothesis study uses in this data analysis such as validation, reliability, normality, multicollinearity, heterogeneity, F-test, and T-statistic test at a = 0.05. the result of this study show that 1)Reliability had a significant negative impact on passenger loyality in Trans Padang. 2)Responsibility had a significant positive impact on the loyality of Trans Padang. 3)assurance had a significant positive impact on the loyality of Trans Padang. 4) Empathy had a significant positive impact on the loyality of Trans Padang. 5)Tangible had a significant negative impact on the loyality of Trans Padang passengers.Keywords : reliability, responsiveness, assurance, empathy, tangible and loyalty 

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