scholarly journals Nalogovoe planirovanie kak instrument upravleniia strukturoi kapitala (na primere lesopromyshlennogo kompleksa Primorskogo kraia)

2020 ◽  
pp. 199-210
Author(s):  
Ekaterina Aleksandrovna Kurasova ◽  
Elena Nikolaevna Stenkina
Keyword(s):  
Life Cycle ◽  
Capital Structure ◽  
Tax Planning ◽  
Management Processes ◽  
Huge Impact ◽  
Business Structure ◽  
The Capital Structure

Tax planning is one of the main mechanisms for managing an organization. Taxes as an integral part of any business structure have a huge impact on the development of the organization at any stage of the life cycle. If the company does not have tax planning, the organization usually has problems with management as well as financial and business risks increase. Therefore, tax planning should be established in all company management processes, including the management of the capital structure, as one of the main tools for the company's development.

scholarly journals Pengaruh Risiko Bisnis, Life Cycle Dan Diversifikasi Terhadap Struktur Modal Serta Hubungannya Dengan Nilai Perusahaan Manufaktur Di Indonesia

2016 ◽  
Vol 9 (1) ◽  
Author(s):  
Septi Diana Sari
Keyword(s):  
Life Cycle ◽  
Capital Structure ◽  
Firm Value ◽  
Order Theory ◽  
Diversification Strategy ◽  
Single Segment ◽  
Unrelated Diversification ◽  
Related Diversification ◽  
Positive Effect ◽  
The Capital Structure

This study aims to examine the factors that affect the capital structure. The task of the financial manager is to determine the amount of capital structure to enhance shareholder value. Since the capital structure associated with firm value , this study also aimed to examine the effect of capital structure on firm value by considering the company's diversification strategy and corporate life cycle stages . By using the data obtained from the OSIRIS period 2009-2012, researchers used multiple regression test and path analysis to test the hypothesis. From the test results stated that only companies which are in the start-up phase which has a significant positive effect on the capital structure , as well as the diversification strategy has an influence on the capital structure of the company's capital structure with a sequence of related diversification > unrelated diversification > single segment. But when regressed diversification strategy with corporate values, only a single segment strategy and related diversification which significantly affect the value of the company, as well as the positive effect of capital structure on firm value. Most of the results of this study can be explained by the signaling effect and the pecking order theory. 

scholarly journals Pengaruh Struktur Modal Terhadap Kinerja Perusahaan Berdasarkan Siklus Hidup Perusahaan

2018 ◽  
Vol 5 (1) ◽  
pp. 69
Author(s):  
Tia Ardianty Aulia ◽  
Nining Ika Wahyuni ◽  
Indah Purnamawati
Keyword(s):  
Life Cycle ◽  
Capital Structure ◽  
Stock Exchange ◽  
Hypothesis Test ◽  
Secondary Data ◽  
Company Performance ◽  
Manufacturing Companies ◽  
Regression Methods ◽  
Life Cycle Stages ◽  
The Capital Structure

This research aims to examine the effect of capital structure to the company's performance based on the life cycle. The population in this study are all manufacturing companies listed on the Indonesia Stock Exchange (BEI) in 2011-2015. Sampling by using purposive sampling method, that is by grouping companies into life cycle stages based on the average sales growth. The sample in this study as many as 98 companies. This research uses secondary data that the financial statements of companies manufacturing the years 2011-2015 were obtained in the Indonesia Stock Exchange. The data used include sales, debt, equity, assets and profit after tax.Methods of data analysis using Descriptive Statistics, Clasiccal Assumption Test, Regression Methods, and Hypothesis Test consisted of t Test, F Test and Coefficient of Determinatio (R Square). The results showed that the capital structure at start up, growth, and mature have a significant positive effect on company performance. The capital structure at each stage of the company life cycle is different, the greater the capital structure then the company's performance is increasing. Keywords: Capital Structure, Company Performance, Company Life Cycle, manufactur

scholarly journals Capital Structure of Public–Private Partnership Projects: A Sustainability Perspective

2019 ◽  
Vol 11 (13) ◽  
pp. 3505 ◽  
Author(s):  
Jing Du ◽  
Hongyue Wu ◽  
Ruoyu Jin
Keyword(s):  
Life Cycle ◽  
Qualitative Analysis ◽  
Capital Structure ◽  
Selection Process ◽  
Public Private Partnership ◽  
Selection Model ◽  
Private Partnership ◽  
Multi Objective ◽  
Multi Objective Programming ◽  
The Capital Structure

Capital is key to achieve the standardized operation of public–private partnership (PPP) projects. The capital structure of PPP projects stresses the structure of equity and debt funds, which are important for securing life-cycle ample funds and achieving the expected outcomes of projects. By incorporating sustainability into PPP projects, the capital structure not only secures current needs of funds, it also focuses on life-cycle stable operations and achieves economic, social, and environmental benefits. This study first set the equity–debt ratio and equity investment ratio of the private sector as the dependent variables and built a selection model of the capital structure of PPP projects from a sustainability perspective using the benefit, cost, and project conditions as core factors based on multi-objective programming and a discounted cash-flow model. Then, the qualitative analysis could be achieved according to the analysis of critical factors that had not been calculated. Afterwards, a selection process which combined the multi-objective programming model with qualitative analysis was proposed to achieve a comprehensive selection of the capital structure of PPP projects from the sustainability perspective. Finally, the process was applied to a real project to verify its rationality and usability. This study not only enriches the theoretical research of PPP projects and provides a new idea on which to build the capital structure selection model, it also proposes a selection process that can provide scientific references for the selection and optimization of the capital structure of PPP projects in practice.

scholarly journals Crowdfunding in a Context of Financing Firms Through Their Life Cycle

2018 ◽  
Vol 21 (1) ◽  
pp. 105-118 ◽  
Author(s):  
Tin Horvatinović ◽  
Silvije Orsag
Keyword(s):  
Life Cycle ◽  
Capital Structure ◽  
Return On Investment ◽  
Recent Literature ◽  
Development Stages ◽  
Life Cycle Stages ◽  
The Capital Structure

Abstract In this paper we first present some developed theories of financing that firms might accord with in their development stages. The framework, assumptions and predictions of the capital structure of firms in each theory is shown. Afterwards, crowdfunding, as a fairly new source of financing that is increasing significance, is described and is differentiated on the basis of the type of return on investment for the outside investors. In recent literature there have been models that introduce crowdfunding in the framework of financing firms through their life cycle stages. We point the difficulty of encompassing crowdfunding in the mentioned models because of characteristics that are unique to it from the perspective of the investor and the firm. While it is not surprising that crowdfunding is used in development stages, these characteristics make it difficult to construct a model of financing firms that has traditional means of financing and crowdfunding.

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
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