Determination of Capital Structure: A LISREL Model Approach

2014 ◽  
pp. 1669-1683
Author(s):  
Cheng-Few Lee ◽  
Tzu Tai
Keyword(s):  
Capital Structure ◽  
Lisrel Model ◽  
Model Approach

scholarly journals PENGARUH PROFITABILITAS TERHADAP NILAI PERUSAHAAN DENGAN STRUKTUR MODAL SEBAGAI MEDIATOR PADA PERUSAHAAN PEMBIAYAAN

2019 ◽  
Vol 9 (1) ◽  
Author(s):  
Ni Ketut Sulastri ◽  
Ni Ketut Surasni
Keyword(s):  
Data Analysis ◽  
Capital Structure ◽  
Path Analysis ◽  
Firm Value ◽  
Analytical Tool ◽  
Purposive Sampling ◽  
Analysis Technique ◽  
Finance Company ◽  
The Capital Structure

This study aims to analyze the effect of profitability on capital structure, the effect of capital structure on firm value, the effect of profitability on firm value and analyze the effect of profitability on firm value through the capital structure of finance companies on the IDX. This type of research is causal associative research. The population of this study is a finance company listed on the IDX, while the selected sample consists of 11 companies. Determination of samples with Purposive sampling. The data analysis technique uses Path Analysis (path analysis) and the analytical tool used is IBM SPSS 23. The results show that (1) profitability has a positive and not significant effect on capital structure (2) the capital structure has a positive and not significant effect on firm value ( 3) profitability has a positive and significant effect on firm value (4) capital structure is not able to mediate the influence of profitability on firm value.Keywords:Perusahaan Pembiayaan;Profitabilitas;Nilai Perusahaan;Struktur Modal

ANALISIS PENGARUH NILAI SAHAM YANG BEREDAR, STRUKTUR MODAL, RISIKO PASAR, DAN SUKU BUNGA TERHAD AP RETITRN SAHAM DI BEJ DENGAN PENDEKATAN MODEL DINAMIS (Studi Kasus Pada Sektor Aneka lndustri Tahun 1996-2002)

2005 ◽  
Vol 1 (1) ◽  
pp. 20
Author(s):  
Ari Christianti ◽  
Murti Lestari
Keyword(s):  
Capital Structure ◽  
Dynamic Model ◽  
Stock Return ◽  
Negative Impact ◽  
Short Term ◽  
Correction Model ◽  
Industry Sector ◽  
The Interest Rate ◽  
Model Approach

The study aims at empirically proving and analyzing the balance model of Capital Asset Pricing Model (CAPM with the multifactor of risks, consisting of: outstanding stocks value, capital structure represented by Debt EquiQ Ratio (DER), market risk as represented by stock market beta, and the interest rate on company return on stock.This research uses a dynamic model approach considering the existence of the weaknessesin a classic linear model. Since the investment is related to investors behavior that need a lag to market change, the use of the dynamic model approach will be better. It is because the dynamic model uses autoregressive approach containing the lag. The dynamic model used here is Partial Adjustment Model (PAM) and Error Correction Model (ECM).  Based on the estimation of the PAM model it is proven that the model is inefficient in finding the evidence confirming the hypothesis. Subsequently,based on the result of the examination of the ECM model it isconcluded that outstanding stocks value has a positive and signiJicant impact in short term and a negative impact in long term. It means that in the short term outstanding stocks value serves as the consideration for investors in making an investment. However in the long term they are likely to believe that the use of smaller internal capital proportion will be more beneficial for them. The capital structure has only a longierm impact on the return on stock. It means that the impact of DER on stock return on miscellaneous industry sector needs the quite long lag to influence the investors in determining stocks return. It indicates that in the long term they believ:e that the use of increasing number of loan will causes the decrease in company liquidity. Consequently, the opportunity for the company to go bankrupt is bigger Beta stock in the study has a negative impact in the long term. Theoretically, it is not consistent with the parameter direction and indicated that beta stock does notserve as an app;r,pviate prory in measuring the rislcs on. miscellaneous industry sector The interest rate has in the long term a negative impact on stocks return and needs the long lag to influence the investors in determining the return on stocks.Keywords: Stock return, outstanding stock value, DER (Debt Equity Ratio), beta, interest rote, ECM (Eruor Correction Model)

scholarly journals EFEKTIVITAS BALI GO LIVE SEBAGAI MEDIA PROMOSI DIGITAL PARIWISATA BALI

Jurnal IPTA ◽  
2019 ◽  
Vol 7 (1) ◽  
pp. 16
Author(s):  
Ni Luh Putu Septiani ◽  
I Nyoman Sudiarta ◽  
Putu Agus Wikanatha Sagita
Keyword(s):  
Sampling Method ◽  
Descriptive Analysis ◽  
Validity And Reliability ◽  
Epic Model ◽  
Quantitative Descriptive Analysis ◽  
Analysis Technique ◽  
Effectiveness Measurement ◽  
Quantitative Descriptive ◽  
Model Approach

The purpose of this research is to know the effectiveness of using Bali Go Live Channel as media promotion digital of Bali Tourism by using EPIC Model approach. Effectiveness measurement is done by obtaining value of empathy dimension, persuation dimension, impact dimension, and communication dimension from digital promotion conducted by Bali Go Live Channel to know how effective promotion is done. Determination of samples in this study using accidental sampling method as much as 100 respondents tourists. Data collection techniques used questionnaires and interviews. Data analysis technique in this research is quantitative descriptive analysis, validity and reliability analysis, simple tabulation analysis, and EPIC Model analysis. From the results of quantitative descriptive analysis can be seen that the measurement of dimensions empathy, dimension persuasion, dimension impact, and dimension communication entered in the range of effective scale. The results of this study show the use of Bali Go Live Channel as a digital promotion media of Bali tourism declared effective. This is shown from the EPIC Rate of 3.98 which fall into the effective category.

Modelling Damage Progression by a Statistical Energy-Balance Algorithm

2007 ◽  
Vol 347 ◽  
pp. 435-440
Author(s):  
Federico Bosia ◽  
Nicola Maria Pugno ◽  
Giuseppe Lacidogna ◽  
Alberto Carpinteri
Keyword(s):  
Energy Balance ◽  
Cross Sections ◽  
Dissipated Energy ◽  
Model Parameters ◽  
Energy Propagation ◽  
Damage Progression ◽  
Energy Scaling ◽  
Mesoscopic Level ◽  
Model Approach

In this contribution some characteristics and predictive capabilities are discussed of a recently introduced model for damage progression and energy release, in view of modelling Acoustic Emission. The specimen is discretized in a network of connected springs, similar to a Fibre Bundle Model approach, with the spring intrinsic strengths statistically distributed according to a Weibull distribution. Rigorous energy balance considerations allow the determination of the dissipated energy due to crack surface formation and kinetic energy propagation. Based on results of simulations, the macroscopic behaviour emerging from different choices at “mesoscopic” level is discussed, in particular the relevance of model parameters such as the distribution of spring cross sections, Weibull modulus values, and discretization parameters in determining results like stressstrain curves and energy scaling versus time or specimen size.

scholarly journals The fate of $$\mathbf{V}_\mathbf{1}$$ vector leptoquarks: the impact of future flavour data

2021 ◽  
Vol 81 (12) ◽  
Author(s):  
C. Hati ◽  
J. Kriewald ◽  
J. Orloff ◽  
A. M. Teixeira
Keyword(s):  
Simplified Model ◽  
Meson Decay ◽  
Final States ◽  
Decay Modes ◽  
Flavour Violation ◽  
Belle Ii ◽  
The Impact ◽  
Lepton Flavour ◽  
Model Approach

AbstractMotivated by the recent experimental progress on the B-meson decay anomalies (in particular the angular observables in $$B\rightarrow K^*\mu \mu $$ B → K ∗ μ μ ), we rely on a simplified-model approach to study the prospects of vector leptoquarks in what concerns numerous flavour observables, identifying several promising decay modes which would allow to (indirectly) probe such an extension. Our findings suggest that the confirmation of the B-meson decay anomalies, in parallel with positive signals (at Belle II or LHCb) for $$\tau \rightarrow \phi \mu $$ τ → ϕ μ , $$B_{(s)}$$ B ( s ) -meson decays to $$\tau ^+ \tau ^-$$ τ + τ - and $$\tau ^+ \mu ^-$$ τ + μ - ($$\tau ^+ e^-$$ τ + e - ) final states, as well as an observation of certain charged lepton flavour violation decays (at COMET or Mu2e), would contribute to strengthen the case for this scenario. We also illustrate how the evolution of the experimental determination of $$R_{D^{(*)}}$$ R D ( ∗ ) could be instrumental in falsifying an explanation of the anomalous B-meson decay data via a vector $$V_1$$ V 1 leptoquark.

scholarly journals Comparison of Determinants of Capital Structure in Lippo Group and Bakrie Group Companies Listed on the Indonesia Stock Exchange (Partial Adjustment Model Approach)

2021 ◽  
Vol 8 (2) ◽  
pp. 83-88
Author(s):  
Fildzah Fitria ◽  
Khaira Amalia Fachrudin ◽  
Amlys Syahputra Silalahi
Keyword(s):  
Capital Structure ◽  
Stock Exchange ◽  
Company Size ◽  
Group Company ◽  
Partial Adjustment ◽  
Insignificant Effect ◽  
Adjustment Model ◽  
Growth Opportunity ◽  
Partial Adjustment Model ◽  
Model Approach

This study aims to determine the determinants of the capital structure of the Lippo Group and the Bakrie Group listed on the Indonesia Stock Exchange using the partial adjustment model approach. The population in the Lippo Group company is 12 and the population at the Bakrie Group company is 9. The sample of this study is that all companies listed on the Indonesia Stock Exchange are 21 companies. Data analysis used panel data regression method with partial adjustment model approach. The results of the research in the t test at the Lippo Group company show that the lag leverage has a positive and insignificant effect on leverage, profitability has a positive and significant effect on leverage, company size has a positive and insignificant effect on leverage, earning volatility has a positive and significant effect on leverage, assets tangibility has a positive and significant effect on leverage and growth opportunity has a positive and insignificant effect on leverage. The results of the research in the t test at the Bakrie Group company show that the lag leverage has a positive and insignificant effect on leverage, profitability has a positive and insignificant effect on leverage, company size has a positive and insignificant effect on leverage, earning volatility has a positive and insignificant effect on leverage, assets tangibility has a negative and insignificant effect on leverage, growth opportunity has a negative and insignificant effect on leverage. The partial adjustment model test results show that only Lippo Group company on the variables of profitability, earning volatility and assets tangibility have a significant positive effect on leverage. The results of the comparison of the optimal capital structure show that the Bakrie Group has a higher level of optimal capital structure by 83% than the Lippo Group at 55%. Keywords: Lag Leverage, Profitability, Company Size, Earning Volatility, Assets Tangibility, Growth Opportunity, Leverage.

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