scholarly journals Determinants of Capital Structure in Listed Insurance Companies in Nigeria

2020 ◽  
Vol 4 (1) ◽  
pp. 1
Author(s):  
Sani Abdulrahman Bala ◽  
Babagana Mallam Abatcha
Keyword(s):  
Capital Structure ◽  
Random Effect ◽  
Random Effect Model ◽  
Sampling Technique ◽  
Annual Reports ◽  
Insurance Companies ◽  
Regression Result ◽  
Significant Positive Effect ◽  
Ex Post ◽  
Positive Effect

This study investigates the determinants of capital structure in listed insurance companies in Nigeria for the period of thirteen years, from 2006-2018. Ex-post facto research design was adopted for this study. The population of the study is made up of the 28 insurance companies listed on the floor of the Nigerian Stock Exchange (NSE) as at 2018. Since the population is not too large, this study utilized census sampling technique to take all the population. The data used in this study were secondary data derived from annual reports of insurance companies that are listed on the NSE. The study used panel regression with respect to the use of Hausman specification test to determine the use of fixed or random effect model. The random effect regression result revealed that that firm size has insignificant positive effect on capital structure (CST) of listed insurance companies in Nigeria. The study showed a significant positive effect between age and CST of listed insurance companies in Nigeria. Based on the regression result, asset tangibility has insignificant negative effect on CST, the regression result shows that risk has insignificant positive effect on CST, while the study found that insurance growth has significant positive effect on CST of listed insurance companies in Nigeria. The study concludes that size, age, tangibility of asset, insurance risk and growth are determinants of CST of listed insurance companies in Nigeria. The study recommends that insurance companies should have a high consideration for the value of total asset when determining their capital mix. Also, insurance companies that have been incorporated for long should consider external financing likewise, insurance companies should not give fixed asset priority when considering their capital structure mix. Debt providers should seek for high return in order to hold the risk related to the bankruptcy and financial distress. Lastly, debt holders should require such return to hold the risk of agency conflicts with shareholders and management.

scholarly journals The Determinants of Capital Structure on Property and Real Estate Company Period 2012-2016

2018 ◽  
Vol 7 (4) ◽  
pp. 469-480
Author(s):  
Rani Ranitasari ◽  
Ida Maftukhah
Keyword(s):  
Real Estate ◽  
Capital Structure ◽  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Random Effect ◽  
Random Effect Model ◽  
Sampling Technique ◽  
Significant Positive Effect ◽  
Real Estate Company ◽  
Positive Effect

The research aims to know the determinant of capital structure. Population in this research is property and real estate company listed in Indonesia Stock Exchange period 2012-2016. The sample in this research is determined based on purposive sampling which is sampling technique based on certain criteria. Companies that meet the criteria of the sample are 30 companies with research period during 4 years, so obtained the data of 150 observations. The analysis used was multiple linear regression analysis which was preceded by panel data model selection and classical assumption test. The result of random effect model regression test shows that profitability and liquidity have significant negative effect on capital structure, while asset growth has significant positive effect on capital structure, but the firm size and asset structure had no significant positive effect on capital structure.

scholarly journals Profitabilitas menjadi pemediasi untuk variabel yang mempengaruhi struktur modal (Studi pada Bank Umum Syariah di Indonesia periode 2016-2020)

2021 ◽  
pp. 160-187
Author(s):  
Indah Lestari
Keyword(s):  
Capital Structure ◽  
Commercial Banks ◽  
Sampling Technique ◽  
Significant Positive Effect ◽  
Tax Shield ◽  
Significant Negative Effect ◽  
Growth Opportunity ◽  
Negative Effect ◽  
Debt Tax Shield ◽  
Positive Effect

The purpose of this study is to find out and analyze whether there is an Influence of Liquidity, Growth Opportunity, Asset Structure, and Non Debt Tax Shield on Capital Structure with Profitability as an Intervening Variable in Islamic Commercial Banks Registered at OJK 2016-2020 ". This research is a quantitative research using data sources derived from secondary data, namely the annual report. The sampling technique used in this research is purposive sampling technique. Of the 14 Islamic commercial banks registered with the OJK, only 11 are in accordance with the sample criteria in this study. This study uses the Eviews 9 application as a tool for data processing. The analytical methods used in this research are stationarity test, panel data regression model test, classical assumption test, regression test, and path analysis test. The results obtained in this study are liquidity has a significant negative effect on capital structure. Growth opportunity and asset structure have a significant positive effect on capital structure. Meanwhile, the non-debt tax shield and profitability variables have no significant positive effect on capital structure. Liquidity has no significant negative effect on profitability, growth opportunity has no significant positive effect on profitability. Asset structure has a significant positive effect on profitability, while non-debt tax shield has a significant negative effect on capital structure. From the results of the path analysis conducted in this study, profitability was not able to mediate the variables of liquidity, growth opportunity, and non-debt tax shield on capital structure, but for the asset structure variable profitability was able to mediate the influence of asset structure on capital structure.

scholarly journals Effects of Capital Structure on Financial Performance of Insurance Companies in Nepal

2020 ◽  
Vol 10 (3) ◽  
pp. 35
Author(s):  
Bishnu Prasad Bhattarai
Keyword(s):  
Capital Structure ◽  
Financial Performance ◽  
Annual Report ◽  
Random Effect ◽  
Random Effect Model ◽  
Fixed Effect Model ◽  
Insurance Companies ◽  
Return On Assets ◽  
Total Debt ◽  
Effect Model

The study has examined the effects of capital structure on financial performance of insurance companies in Nepal. Data were collected from the annual report of the respective insurance companies' web site. The panel data of 14 Nepalese insurance companies from 2007/08 to 2015/16, leading to a total of 126 observations. The data were analyzed using pooled OLS model, random effect model and fixed effect model. The study has been return on assets as dependent variable whereas total debt ratio, equity to total assets, leverage, firm size, liquidity ratio and assets tangibility are independent variables. The result concluded that equity to total assets, leverage, and assets tangibility have effects the financial performance in Nepalese insurance companies' cases.

The Influence Of Profitability, Asset Tangibility, Firm Size, Liquidity, And Agency Conflict Toward Capital Structure On Food And Beverage Companies Listed In Indonesia Stock Exchange Period 2014-2017

2020 ◽  
Vol 8 (2) ◽  
pp. 1
Author(s):  
Erika Jimena Arilyn
Keyword(s):  
Capital Structure ◽  
Firm Size ◽  
Stock Exchange ◽  
Random Effect ◽  
Random Effect Model ◽  
Sampling Technique ◽  
Agency Conflict ◽  
Effect Model ◽  
Food And Beverage ◽  
The Capital Structure

This study is conducted in order to know whether profitability, asset tangibility Please do not firm size, liquidity, and agency conflict influence the capital structure. This study is also would compare result  of the previous researchers within this research. Sample of this research is food and beverage companies that listed in Indonesia Stock Exchange for period 2014 – 2017 and publish its annual report which available to be accessed by public. Research method used in this paper is quantitative method. Purposive sampling is used as a sampling technique, where nine companies met the criteria and were analyzed using descriptive statistic and panel data regression with random effect model to test the hypotheses. Results of this study indicate that profitability, liquidity, and agency conflict influence the capital structure, while asset tangibility and firm size do not influence the capital structure.

The Influence Of Profitability, Asset Tangibility, Firm Size, Liquidity, And Agency Conflict Toward Capital Structure On Food And Beverage Companies Listed In Indonesia Stock Exchange

2020 ◽  
Vol 8 (1) ◽  
pp. 23
Author(s):  
Erika Jimena Arilyn
Keyword(s):  
Capital Structure ◽  
Firm Size ◽  
Stock Exchange ◽  
Random Effect ◽  
Random Effect Model ◽  
Sampling Technique ◽  
Agency Conflict ◽  
Effect Model ◽  
Food And Beverage ◽  
The Capital Structure

This study is conducted in order to know whether profitability, asset tangibility Please do not firm size, liquidity, and agency conflict influence the capital structure. This study is also would compare result  of the previous researchers within this research. Sample of this research is food and beverage companies that listed in Indonesia Stock Exchange for period 2014 – 2017 and publish its annual report which available to be accessed by public. Research method used in this paper is quantitative method. Purposive sampling is used as a sampling technique, where nine companies met the criteria and were analyzed using descriptive statistic and panel data regression with random effect model to test the hypotheses. Results of this study indicate that profitability, liquidity, and agency conflict influence the capital structure, while asset tangibility and firm size do not influence the capital structure.

scholarly journals INTELLECTUAL CAPITAL AND CORPORATE PERFORMANCE IN NIGERIA BANKS

2017 ◽  
Vol 1 (5) ◽  
pp. 78
Author(s):  
Dr.Egungwu, Ikenna ◽  
Egungwu Ngozi Ursula
Keyword(s):  
Intellectual Capital ◽  
Time Series Data ◽  
Corporate Performance ◽  
Sampling Technique ◽  
Least Square ◽  
Series Data ◽  
Net Income ◽  
Significant Positive Effect ◽  
Ex Post ◽  
Positive Effect

Purpose: This study is on the interaction between corporate performance variables and Intellectual capital effectiveness of selected banks in Nigeria. Intellectual capital has been variously defined as knowledge capital employed in an organization to improve the value creation ability of the organization. It has attracted the attention of researchers especially in developed economies.Methodology: The study adopted ex-post-facto research design on a time series data spanning 10 years (2006-2015). The sampling technique was purposive sampling and data were drawn from the financial statements of the selected banks. Ordinary Least Square regression analysis was employed to test each of the three (3) hypotheses, at 5% level of significance.Results: The results indicated that; intellectual capital contributes positively to asset quality of banks; there is no significant positive effect of intellectual capital on loan quality; there is a significant positive effect of intellectual capital on net income of the banks.Unique contribution to theory, practice and policy: The study recommended that banks should take inventory of her portfolio (assets) so as to identify those of them that are no longer useful and also employ qualified, experienced and trained staff to add value to her intellectu1resources.

scholarly journals Pengaruh tangibility, profitability, liquidity, firm size dan non debt taxshield terhadap capital structure pada sektor pertanian

2018 ◽  
Vol 19 (1) ◽  
pp. 129-135
Author(s):  
DEDE BADRU TAMAM ◽  
SATRIYO WIBOWO
Keyword(s):  
Capital Structure ◽  
Firm Size ◽  
Stock Exchange ◽  
Random Effect ◽  
Random Effect Model ◽  
Sampling Technique ◽  
Tax Shield ◽  
Agriculture Sector ◽  
Effect Model ◽  
Debt Tax Shield

The purpose of this research is to test and analyze empirically the influence of tangibility, profitability, liquidity, firm size and non-debt tax shield toward capital structure. The object of this research is agriculture sector companies that listed in Indonesia Stock Exchange period 2008-2014. The purposive sampling is used as sampling technique, where 14 companies met the criteria and were analyzed using eviews 8 panel data regressions with random effect model to test the hypothesis. The results of this research shows that liquidity and firm size influence capital structure, while profitability, tangibility and non-debt tax shield do not influence capital structure.  

scholarly journals THE EFFECT OF BOARD OF COMMISSIONERS ETHNIC, FAMILY OWNERSHIP AND THE AGE OF THE COMPANY TOWARDS THE PERFORMANCE OF THE COMPANY LQ45 COMPANY LISTED IN INDONESIA STOCK EXCHANGE

2019 ◽  
Vol 1 (2) ◽  
pp. 1-8
Author(s):  
Ramdani Bayu Putra ◽  
Fitri Yeni ◽  
Hasmaynelis Fitri ◽  
Diki Jasrizal Melta
Keyword(s):  
Stock Exchange ◽  
Random Effect ◽  
Random Effect Model ◽  
Sampling Technique ◽  
Negative Influence ◽  
Family Ownership ◽  
Company Performance ◽  
Independent Variables ◽  
Effect Model ◽  
Positive Effect

This study aims to examine how the ethnic influence of the board of commissioners (Chinese) on company performance, family ownership of company performance and company age on company performance. And the effect of all independent variables on dependent. The  population of this study is the LQ45 company listed on the Indonesia Stock Exchange from 2013-2017. The sampling technique in this study is Purposive Sampling. Based on observations from 2013-2017 the samples in this study were 23 companies from the LQ45 company. This study uses panel data and the method used is the Hausman Test using Random Effect Model.   The results of this study indicate that the Ethnic Board of Commissioners and family ownership do not affect the Company Performance while the Company Age has a positive effect on Company Performance. Taken together,it turns out that Ethnic Board of Commissioners, Family and Company Ownership have a negative influence on the Company's Performance in LQ45 Companies that are listed on the Indonesia Stock Exchange in 2013-2017. Finally,  the authors suggest that the performance of the company increases the company must increase the Age of the Company by continuing to carry out or run company activities so that they have more experience and the authors also suggest that further research add variable size companies to get better research results.

scholarly journals Analisis Determinan Tingkat Proporsi Dana Tabarru’ Pada Asuransi Jiwa Syariah

2019 ◽  
Vol 6 (2) ◽  
Author(s):  
Nuraini Nuraini ◽  
Mustafa Kamal
Keyword(s):  
Exchange Rate ◽  
Significant Influence ◽  
Life Insurance ◽  
Inflation Rate ◽  
Random Effect ◽  
Random Effect Model ◽  
Sampling Technique ◽  
Insurance Companies ◽  
Estimation Model ◽  
Final Sample

This research aims to determine influence of the claim risk, retakaful contribution, operating expenses, exchange rate, inflation rate and BI rate toward proportion of tabarru’ funds on Islamic life insurance companies. Sampling is done by purposive sampling technique to get 138 data from different starting ranges data and periods, with the final sample of 23 Islamic life insurance companies during 2010-2017. The method of analysis used in this research is multiple linear regression using unbalanced panel data that processed by using Eviews 9. The result showed that the best estimation model for this research is Random Effect Model (REM). Simultaneously all of the independent variables have significant influence towards proportion of tabarru’ funds. While partially, claim risk has positive significant, retakaful contribution and operating expenses has negative significant influence towards proportion of tabarru’ funds. As for the macroeconomic variables, namely exchange rate, inflation rate and BI rate have no significant influence towards proportion of tabarru’ funds

Qualitative Research on Critical Issues In Halal Logistics

2013 ◽  
Vol 1 (2) ◽  
pp. 131 ◽  
Author(s):  
Mohamed Syazwan Ab Talib ◽  
Lim Rubin ◽  
Vincent Khor Zhengyi
Keyword(s):  
Capital Structure ◽  
Agency Theory ◽  
Random Effect ◽  
Random Effect Model ◽  
Order Theory ◽  
Specific Factor ◽  
Pecking Order ◽  
Pecking Order Theory ◽  
Corporate Financing ◽  
Financing Decision

This is a preliminary study developed to explore the determinants of capital structure of Shariah-compliant firms listed in Bursa Malaysia. This study is primarily motivated by the issue of the determinants still being inconclusive in the area of capital structure. The study is performed using the static models namely Pool Ordinary Least Square, Fixed Effect and Random Effect Model. Empirical analysis on the determinants reveals that country specific factor which is GDP and sector specific factor which is industry concentration are also significant in influencing the corporate financing decisions in this country along with firm specific factors such as efficiency, bankruptcy risk, profitability, tangibility, liquidity and size of the firm. The findings revealed that results are sensitive to models employed in the study. Nevertheless, the applicability of capital structure theories such as the trade-off theory, agency theory and pecking order theory diverge across sectors in Malaysia. The pecking order theory and agency theory are found to be the dominant theories governing the corporate financing decision in the country as well. It indicates strong evidence of hierarchy practised in firms’ financing decision. The finding on agency theory being dominant justifies the function of short-term debt as a controlling mechanism to mitigate the agency problem arises within firms across sectors. 

Sign in / Sign up

Export Citation Format

Share Document