scholarly journals The capital structure and determinants which influence on agricultural farms performance

Equilibrium ◽  
2008 ◽  
Vol 1 (1-2) ◽  
pp. 171-182 ◽  
Author(s):  
Magdalena Mądra
Keyword(s):  
Capital Structure ◽  
Foreign Capital ◽  
Small Enterprises ◽  
Financial Flows ◽  
Main Obstacle ◽  
The Capital Structure

The aim of the research was to qualify the theory of capital structure in aspect of financing small enterprises. The elaboration also deals with assessment of conditions which influence on capital structure of agriculture holdings in farmers opinion. The research were conducted with the questionnaire interview usage and it was became passed in 2008 on the group of 100 farmers leading individual agricultural farms in the FADN system in the Mazowsze province. The managers of farms as a main obstacle of engagement the foreign capital acknowledged too complicated and time-consuming bank procedures. Framers also pointed out problem which concerns the synchronization of financial flows which should provide a punctual repayment of debts. Farmers among preferred financing structures indicated this which contained 25% participation of debts in total assets.

scholarly journals Possibilities and limits for capital structure optimalising model design of Czech dairy industry

2012 ◽  
Vol 48 (No, 7) ◽  
pp. 321-326
Author(s):  
G. Chmelíková
Keyword(s):  
Empirical Study ◽  
Capital Structure ◽  
Foreign Capital ◽  
Model Design ◽  
Trade Off ◽  
Structure Factors ◽  
Financial Decision ◽  
The Common ◽  
Individual Ability ◽  
The Capital Structure

The aim of the paper is to approximate the conclusions of the Trade-off model for practical usage in Czech dairies. In the contribution, there is carried on a transformation of the basic Trade - off model formula with respect to the practical usage. Then there is proposed a method of the quantification of unique factors of the Trade -off model theory. In order to measure some of these factors, there is partially used the methodology, which was proposed by Prof. Edward Altman. According to this methodology, it is possible to quantify part of the capital structure influences. The measurement is then valid for all firms in the sector. Following the results of empirical study which is carried on in this paper, one of the factors’ relationship is not constant in the Czech dairy sector. This limits the recommendation to use the common model for all of the firms in one sector. When making a financial decision, it is necessary, after quantification of the capital structure factors, to analyse individual ability of a firm to utilise foreign capital.

scholarly journals PERBANDINGAN STRUKTUR MODAL PADA PERUSAHAAN PROPERTY DAN KONTRUKSI BANGUNAN PERIODE 2015-2019

2021 ◽  
Vol 9 (1) ◽  
pp. 11-20
Author(s):  
Nialena Yusniawati
Keyword(s):  
Capital Structure ◽  
Foreign Capital ◽  
Stock Exchange ◽  
Building Construction ◽  
Company Size ◽  
Sales Growth ◽  
Construction Companies ◽  
Property Companies ◽  
Retained Earnings ◽  
The Capital Structure

ABSTRACTCapital structure is a comparison of own capital with foreign capital owned by each company. Capital alone can be divided into retained earnings and company ownership. Meanwhile, foreign capital is short-term debt or long-term debt. The good and bad conditions of the company can be determined through the capital structure. Through the capital structure, the company can allocate funds owned for appropriate business activities as well as useful for the continuity of the company. In general, factors that affect the company's capital structure include profitability, liquidity, company size, sales growth, and asset structure.This study aims to find out the different influences of capital structures on property companies and building construction. This research uses property and building construction companies listed on the Indonesia Stock Exchange in 2015-2019.The result of this study profitability affects the capital structure of property companies, while in building construction companies profitability has no effect on the capital structure. Liquidity in property companies affects the capital structure. This is the same as the result of building construction companies where liquidity affects the capital structure. In property companies the size of the company has an influence on the capital structure, as well as building construction companies that the variable size of the company affects the capital structure. Sales growth has an influence on the capital structure in property companies, while building construction companies sales growth has no effect on the capital structure. The structure of the property company's assets affects the capital structure. The same indicates that the asset structure of building construction companies affects the capital structure. The difference in the influence of the capital structure of property companies is influenced by profitability, liquidity, company size, sales growth, and asset structure. For the capital structure of building construction is influenced by liquidity, company size, and asset structure. As for variable profitability and sales growth in building construction companies has no effect on the capital structure. Keywords: Profitability, Liquidity, Company Size, Sales growth, Asset Structure, Capital Structure

Analysis of Factors Affecting Capital Structure in Food and Beverage Manufacturing Company

2018 ◽  
Vol 1 (2) ◽  
pp. 1-14
Author(s):  
Nur Hajja Aini ◽  
St Habibah
Keyword(s):  
Capital Structure ◽  
Firm Size ◽  
Significant Influence ◽  
Fixed Effects ◽  
Random Effect Model ◽  
Manufacturing Companies ◽  
Business Risk ◽  
Growth Opportunities ◽  
Food And Beverage ◽  
The Capital Structure

The purpose of this research to analyze the influence of firm size, liquidity, growth opportunities, tangibility asset, and business risk to the capital structure of listed food and beverage manufacturing companies in Indonesia and Vietnam Stock Exchange from 2010 to 2016. The result shows that the fixed effects model should be appropriate for this study as compared to the random effect model. Capital structure significantly differences between the two countries. Firm size has a positive but insignificant influence on the capital structure in Indonesia, whereas it has a positive and a significant influence on the capital structure in Vietnam. Liquidity has a negative and significant influence on the capital structure both in Indonesia and Vietnam. Growth opportunities have a negative but insignificant influence on the capital structure both in Indonesia and Vietnam. Asset tangibility has a positive but insignificant influence on the capital structure in Indonesia, but it has the negative but insignificant influence on the capital structure in Vietnam. Ultimately, the business risk has a negative and significant influence on the capital structure in Indonesia but has a positive and insignificant influence on the capital structure in Vietnam.

The Capital Structure Puzzle: The Evidence Revisited

CFA Digest ◽  
2006 ◽  
Vol 36 (1) ◽  
pp. 16-17
Author(s):  
Lester C. Cheng
Keyword(s):  
Capital Structure ◽  
The Capital Structure

An impact of corporate management on the capital structure of Russian companies

2017 ◽  
Vol 23 (35) ◽  
pp. 2076-2087 ◽  
Author(s):  
E.A. Fedorova ◽  
◽  
T.M. Denisova ◽  
I.V. Lukashenko ◽  
◽  
...  
Keyword(s):  
Capital Structure ◽  
Corporate Management ◽  
The Capital Structure

Factors influencing the structure of the Russian companies' capital

2020 ◽  
Vol 26 (7) ◽  
pp. 1647-1660
Author(s):  
O.N. Likhacheva ◽  
A.S. Belikevich
Keyword(s):  
Correlation Analysis ◽  
Capital Structure ◽  
Systems Approach ◽  
Empirical Studies ◽  
Factors Influencing ◽  
Oil Contracts ◽  
Economic Landscape ◽  
Relationship Of ◽  
Trade Wars ◽  
The Capital Structure

Subject. In the uncertain market environment, the optimal structure of capital is getting more important because it influences the competitiveness of a firm, its financial sustainability and solvency and, consequently, a success. Herein we dwell upon the hypothesis presuming the existence of capital structure determinants. Objectives. We review empirical studies on the subject, analyze determinants of the Russian companies’ capital structure. Methods. The study is based on the systems approach and methods of statistical analysis. Results. It is necessary to monitor how capital is shaped and formed. We investigated proceedings on factors influencing the capital structure and discovered relevant hypotheses, carrying out the correlation analysis of such factors. Conclusions and Relevance. It is especially important to examine factors influencing the capital structure, and find the appropriate format for the economy struggling through the crisis. The coronavirus pandemic unavoidably reshapes the global economic landscape, which has already been under the pressure of deglobalization processes (trade wars, repudiation of oil contracts). The correlation analysis did not reveal any relationship of the variables in question (the company’s age, ROE, ROA, MOEX, key rate, GDP, PPI) and the capital structure. Further research should be devoted to other factors and consider the unreasonableness and psychological background of managers’ behavior who make decisions concerning the capital structure.

Role of Credit Rating in determining Capital structure: Evidence from Non-Financial sector of Pakistan

2020 ◽  
Vol 38 (3) ◽  
Author(s):  
Shoaib Ali ◽  
Imran Yousaf ◽  
Muhammad Naveed
Keyword(s):  
Capital Structure ◽  
Credit Rating ◽  
Least Square ◽  
Annual Data ◽  
Leverage Ratio ◽  
Financial Decisions ◽  
Financial Firms ◽  
High Level ◽  
The Impact ◽  
The Capital Structure

This paper aims to examine the impact of external credit ratings on the financial decisions of the firms in Pakistan.  This study uses the annual data of 70 non-financial firms for the period 2012-2018. It uses ordinary least square (OLS) to estimate the impact of credit rating on capital structure. The results show that rated firm has a high level of leverage. Moreover, Profitability and tanagability are also found to be a significantly negative determinant of the capital structure, whereas, size of the firm has a significant positive relationship with the capital structure of the firm.  Besides, there exists a non-linear relationship between the credit rating and the capital structure. The rated firms have higher leverage as compared to the non-rated firms. The high and low rated firms have a low level of leverage, while mid rated firms have a higher leverage ratio. The finding of the study have practical implications for the manager; they can have easier access to the financial market by just having a credit rating no matter high or low. Policymakers must stress upon the rating agencies to keep improving themselves as their rating severs as the measure to judge the creditworthiness of the firm by both the investors and management as well.

Determinants Of Capital Structure For Multinational And Domestic Companies In India: Panel Data Regression Model

2019 ◽  
Vol 118 (7) ◽  
pp. 147-154
Author(s):  
K. Maheswari ◽  
Dr. J. Gayathri ◽  
Dr. M. Babu ◽  
Dr.G. Indhumathi
Keyword(s):  
Panel Data ◽  
Capital Structure ◽  
Regression Model ◽  
Business Risk ◽  
Return On Assets ◽  
Panel Data Regression ◽  
Data Regression ◽  
Return On Capital ◽  
Domestic Companies ◽  
The Capital Structure

The capital structure refers to the components of capital needed to establish and expand its business activities. The study was made with an objective to examine the determinants of capital structure of multinational and domestic companies listed in S&P BSE automobile sector. The study concluded that there is significant impact on capital structure determinants such as size, business risk, non debt shield tax, return on assets, tangibility, profit, return on capital employed and liquidity on the capital structure of multinational and domestic companies of Indian Automobile Sector.  

Good Corporate Governance, Profitabilitas, Ukuran Perusahaan dan Struktur Modal

2017 ◽  
Vol 9 (1) ◽  
pp. 1-17
Author(s):  
Hesty Juni Tambuati Subing
Keyword(s):  
Capital Structure ◽  
Board Of Directors ◽  
Firm Size ◽  
Stock Exchange ◽  
Secondary Data ◽  
Institutional Ownership ◽  
Annual Reports ◽  
Financial Reports ◽  
Basic Industry ◽  
The Capital Structure

The purpose of this research is to know about the effect of these factors Corporate Governane proxy by Institutional Ownership and Number of Board of Directors, Firm Size, and Return On Asset in basic industry and chemistry towards capital structure, and also to determine which of those factors having powerful effect to the capital structure. This research is using secondary data, such as the financial reports, annual reports and other related information of basic industry and chemistry listed in Indonesian Stock Exchange which sample were taken from 45 companies for the period of 2013 to 2014, and the choosing of these samples was based on the purposive sampling method. Panel data is used to test the effect of Institutional Ownership, Board of Directors, Return on Asset and Firm Size among as independent variables, in regard to capital structure as dependent variables. The result shows that only Return On Asset have significant effect to the Capital Structure in the basic industry and chemistry. Meanwhile Institutional Ownership, Board of Directors and Firm Size have no effect to the Capital Structure in the basic industry and chemistry. Keywords: Institutional Ownership, Board of Directors, Return On Asset, Firm Size, Capital Structure

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