Impact of the Corporate Response to Climate Risk on Financial Leverage and Systematic Risk

2021 ◽  
Author(s):  
Akitoshi Ito ◽  
Kenichi Nagasawa
Keyword(s):  
Systematic Risk ◽  
Climate Risk ◽  
Financial Leverage ◽  
Corporate Response

The Impact of the Degrees of Operating and Financial Leverage on Systematic Risk of Common Stock

1984 ◽  
Vol 19 (1) ◽  
pp. 45 ◽  
Author(s):  
Gershon N. Mandelker ◽  
S. Ghon Rhee
Keyword(s):  
Systematic Risk ◽  
Common Stock ◽  
Financial Leverage ◽  
The Impact

Diversification, Financial Leverage and Conglomerate Systematic Risk

1979 ◽  
Vol 14 (5) ◽  
pp. 999 ◽  
Author(s):  
James M. Gahlon ◽  
Roger D. Stover
Keyword(s):  
Systematic Risk ◽  
Financial Leverage

scholarly journals THE IMPACT OF DEGREE OF FINANCIAL LEVERAGE AND DEGREE OF OPERATING LEVERAGE ON THE SYSTEMATIC RISK OF COMMON STOCK

2020 ◽  
Vol 4 (1) ◽  
pp. 24-32
Author(s):  
Khadija Younas ◽  
Muhammad Sarmad
Keyword(s):  
Systematic Risk ◽  
Regression Technique ◽  
Securities Market ◽  
Financial Leverage ◽  
Wealth Maximization ◽  
Independent Variables ◽  
Risk Return ◽  
Operating Leverage ◽  
The Impact

The aim of this study is that the to evaluate the effect of financial leverage and operating leverage on the systematic risk of stock. In trendy competitive business era, the power to extend come of the firm is usually depends on economical use of leverage within the capital structure. Leverage is outlined as an extended term debt funding that improves the permanent financial performance yet because the success of the organization. It conjointly explained because the use borrowed funds to ascertain investment and come thereon investment however it’s a lot of risky if they can’t be ready to generate higher rate of come in compare with value of capital. For this reason, the determination of the proportion of debt and equity is one in every of the foremost essential choices that the organization faces, and any variability in leverage will influence a company’s monetary capability, risk, return, investment, strategic call and therefore the wealth maximization of organization. During this study, financial leverage and operating leverage as independent variables and systematic risk because the variable is considered. This study used a quantitative analysis style. The population of the study was created from the 8 cement industries of Pakistan. The study used secondary knowledge that was obtained from the annual audited monetary statements that had audited and revealed by securities market of Pakistan for an amount of five years between 2014 and 2019. This study used a correlation analysis and a multiple rectilinear regression technique in analyzing the collected knowledge. The study found that financial leverage and operating leverage had a big positive relationship with systematic risk of stock. This study covers that financial leverage and operating leverage have an immediate result on the systematic risk of stock in a very companies’ come. The study counseled that management of corporations listed at the securities market to draw in smart management therefore to beat the danger of stock. Whereas important at ≤ 0/05 H0 hypothesis, is rejected. Otherwise, there’s no different adequate reason for rejecting H0 hypothesis. For testing the hypothesis of this study, rectilinear regression technique has been used. In step with the results obtained, H0 is rejected because of important = zero.00< 0.05. This analysis is 100% because of all knowledge is collected from the correct places.

scholarly journals Analisis Pengaruh Beta Saham, Debt To Equity Rasio (DER) terhadap Return On Asset (ROA) Perusahaan di Bursa Efek Indonesia

2019 ◽  
Vol 28 (02) ◽  
pp. 198-212
Author(s):  
Muhammad Ikhsan ◽  
Eko Budi Santoso
Keyword(s):  
Stock Returns ◽  
Stock Exchange ◽  
Systematic Risk ◽  
Net Income ◽  
Financial Leverage ◽  
Return On Equity ◽  
Market Index ◽  
Sample Data ◽  
Equity Ratio ◽  
Excess Stock Returns

Perhitungan rasio keuangan penting bagi perusahaan.. Investor dapat melihat kinerja perusahaan apakah perusahaan berkinerja baik dibandingkan dari rata-rata industri. Rasio adalah ukuran perbandingan antara pos dalam laporan keuangan dengan pos lainnya. Misalnya rasio profitabilitas yaitu Return on Asset makin tinggi ROA makin baik karena Net income makin tinngi. Demikian juga Debt to Equity ratio yaitu  berapa batasan berhutang yang ideal yaitu financial leverage berapa ukuran maksimal sehingga net income maksimal.Resiko sistematis atau Beta saham didapat dari slope hasil regresi antara ekses return saham dengan ekses pasar adalah ukuran resiko juga dalam berinvestasi saham . Resiko adalah hal yang menyimpang dari target yang kita inginkan atau sesuatu pencapaian yangberbeda dari hal atau sesuatu yang kita inginkan atau harapkan. Contoh Resiko berinvestasi adalah jika kita menderita kerugian atau kehilangan pokok yang kita tanankan. Resiko yang mempengaruhi saham di bursa yaitu bisa resikosistematik atau bisa juga resiko unsistematis atau resiko di dalam perusahaan misalnya manajemennya. Resiko sistematisjuga disebut resiko pasar yang menimpa semua saham seperti pengaruh dari luar yaitu inflasi, kurs mata uang atau kebijakan pemerintah.Penelitian ini akan membahas apakah ada pengaruh Debt to equity ratio dan beta saham/ resiko sistematis terhadap nilai ROA karena bagi perusahaan net income adalah penting juga bagi investor untuk membeli saham.Sampel datayang diambil penulis sebanyak 35 macam saham dengan cara mengambil secara acak saham-saham yang ada di Bursa efek Indonesia. Data sampel akan diolah dengan statistik menjadi informasi dalam menjawab permasalahan  dengan  Aplikasi SPSS edisi 19. Hasil penelitian ini yaitu secara bersama-sama variabel Debt to Equity ratio dengan Beta saham mempunyai pengaruh yang signifikan terhadap Return on Equity (ROA) perusahaan di Bursa Efek Indonesia Calculation of finance ratios is important for the company. Investors can view the performance of the company if the company performs well compared to the average industry. The ratio is a measure of the ratio between account in the financial statements with another accounts. For example profitability ratios Return on Assets( ROA) higher is better because Net income increasing. Likewise with Debt to Equity ratio, is how much restriction ideal loanlikethe ideal size of financial leverage to maximum net income. Beta is a systematic risk obtained from the slope of the regression results between excess stock returns with excess return of the capital market index. This is a measure of risk in stock investing. Risk is something that deviates from the target that we want or something less achievement from thing or something we want or expect. Examples of investment risk is if we suffer any loss of money  that we invest. Risks of invest stocks is a systematic risk or a unsystematis risk for examplelike a management in the company. Systematic risk is also called market risk hapend to all shares like outside influence,for example inflation, foreign exchange rates or government policy. This research will address the influence Debt to equity ratio and beta stocks / systematic risk to the value of Return of Asset (ROA) because for the company's net income is important for investors to decide buy shares. Sample data is retrieved author as many as 35 kinds of stocks by taking random stocks that exist in the Indonesian Stock Exchange. The sample data will be processed with statistical information in the answer problems with SPSS applications editions 19. Results of this research is jointly variable Debt to Equity ratio with Beta stocks have a significant influence on Return on Equity (ROA) companies in Indonesia Stock Exchange

scholarly journals Determinan Risiko Sistematis pada Perusahaan Rokok di Indonesia

Wahana ◽  
2020 ◽  
Vol 23 (2) ◽  
pp. 211-223
Author(s):  
Tri Utomo Prasetyo
Keyword(s):  
Stock Exchange ◽  
Systematic Risk ◽  
Third Party ◽  
Company Size ◽  
Sales Growth ◽  
Financial Leverage ◽  
Panel Data Regression ◽  
Data Regression ◽  
Equity Ratio

This study aims to examine the effect of company size, sales growth, and financial leverage on systematic risk in the Indonesian cigarette industry. The variable total assets is used to proxy for company size, long term debt-to-equity ratio for financial leverage, and beta stock—collected from the third party—for systematic risk. Four cigarette companies listed on the Indonesia Stock Exchange are sampled for this study in the 2016Q2-2018Q4 period. Hypothesis testing is done using panel data regression. The results show that ceteris paribus, company size and financial leverage have a positive effect on systematic risk, while sales growth statistically has no effect.

scholarly journals PENGARUH FINANCIAL LEVERAGE TERHADAP SYSTEMATIC RISK SAHAM

2019 ◽  
Vol 9 (2) ◽  
pp. 95-102
Author(s):  
Rahyang Rizal ◽  
Dematria Pringgabayu
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Stock Exchange ◽  
Systematic Risk ◽  
Positive Influence ◽  
Least Square ◽  
Debt Ratio ◽  
Financial Leverage ◽  
Normal Period ◽  
The Global Financial Crisis

This Research examine the influence of financial leverage measure by Debt Ratio there are Degree of Financial Leverage (DFL), Debt to Total Asset (DTA) and Debt to Equity Ratio (DER) to the systematic risk (beta) of stock, and also examine the difference influence of thus debt ratio to the systematic risk (beta) of stock in normal period and in the global financial crisis in the year of 2008. This research use the data of firms in the manufacture sector which is listed on Indonesia Stock Exchange (Bursa Efek Indonesia) for the year of 2006 untill 2009. Using the purposive sampling method founded 87 firms for the sample. Research analysis use the panel data regression with General Least Square (GLS) method and 95% degree of confidence. The result of this research found that DFL, DTA and DER have a positive influence to the systematic risk (beta) of stock and also found that there is no difference influence of thus debt ratio to the systematic risk (beta) of stock in the normal period and on the global financial crisis in the year of 2008.

scholarly journals The Impact of Financial Leverage on Shareholders’ Systematic Risk

2019 ◽  
Vol 11 (23) ◽  
pp. 6548
Author(s):  
Aharon ◽  
Yagil
Keyword(s):  
Systematic Risk ◽  
Capital Budgeting ◽  
Well Being ◽  
Market Imperfections ◽  
Financial Leverage ◽  
Industrial Firms ◽  
Capital Market Imperfections ◽  
Long Run ◽  
The Impact ◽  
Risky Debt

This paper tests the degree to which a sustainable relationship exists between financial leverage and the systematic risk of shareholders under the following capital market imperfections: corporate and personal taxes as well as risky debt and bankruptcy costs. This beta-leverage relationship has not yet been examined empirically in prior studies nor compared with the theoretical parameter values implied by well-known formulations in the literature. Using data from publicly traded American industrial firms, we found that risky debt models, rather than their corresponding risk free debt models, are more sustainable and appropriate for describing the link between equity beta and financial leverage. Our findings imply that estimating betas or unlevering betas based on risk free debt models might lead to unsustainable and inaccurate estimates of key corporate parameters such as the cost of capital, and may consequently lead to inappropriate capital budgeting decisions. In this respect, the results of this study might have consequences to the recently growing area of sustainable finance in the sense that investment decisions made by different bodies and institutions in the country are more consistent with market imperfections that exist in the economy. In other words, our findings can be in line with a sustainable financial marketplace that contributes to the economic efficiency in the long run and can be related to social well-being.

scholarly journals Pengaruh Financial Leverage Terhadap Systematic Risk Saham

2019 ◽  
Vol 6 (1) ◽  
pp. 69
Author(s):  
Dematria Pringgabayu
Keyword(s):  
Systematic Risk ◽  
Financial Leverage

scholarly journals Systematic Risk : Variabel yang Mempengaruhi

2017 ◽  
Vol 3 (1) ◽  
Author(s):  
I Nyoman Sujana
Keyword(s):  
Firm Size ◽  
Systematic Risk ◽  
Pricing Model ◽  
Financial Leverage ◽  
Market Capitalization ◽  
Capital Assets ◽  
Size Growth ◽  
Government Deficit ◽  
Operating Leverage

Investor dalam mengambil keputusan investasi di pasar modal khususnya saham selalu dihadapkan kepada berbagai risiko. Menurut teori Capital Assets Pricing Model (CAPM), risiko total suatu perusahaan terdiri dari 2(dua) tipe yaitu: risiko sistematis dan risiko tidak sistematis. Dalam artikel ini hanya dibahas risiko sistematis. Risiko sistematis adalah risiko yang berkaitan dengan perubahan yang terjadi di pasar secara keseluruhan. Risiko sistematis ini dipengaruhi oleh kondisi perekonomian, keamanan, politik, dan sebagainya baik yang berasal dari dalam negeri maupun luar negeri. Variabel yang mempengaruhi systematic risk adalah: (1) variabel keuangan yang meliputi: liquidity, financial leverage, operating leverage, profitability, firm size, growth; (2) variabel makro ekonomi yang meliputi: inflasi, suku bunga, market capitalization, dan government deficit. Kata kunci: systematic risk, variabel keuangan, dan variabel makro ekonomi

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