scholarly journals Struktur Modal berdasarkan Pecking Order Theory pada Perusahaan Makanan dan Minuman di Indonesia

2020 ◽  
Vol 4 (2) ◽  
pp. 114
Author(s):  
Pandu Adi Cakranegara ◽  
Debby Danilla Wati
Keyword(s):  
Regression Analysis ◽  
Quantitative Method ◽  
Stock Exchange ◽  
Order Theory ◽  
Pecking Order ◽  
Management Behavior ◽  
Pecking Order Theory ◽  
Beverage Industry ◽  
Food And Beverage Industry ◽  
Food And Beverage

<p><em>Pecking Order theory states that management will prioritize its own capital before using debt. If it is forced to need additional funds then management will choose to owe rather than issue equity. This study examines the management behavior in the food and beverage industry in Indonesia. The food and beverage industry in Indonesia today is the industry with the highest growth in Indonesia. This means that companies need funding to be able to capture this momentum. The method used is a quantitative method using multiple regression analysis. The samples taken are all food and beverage companies listed on the Indonesian Stock Exchange. From the findings of management authors in food and beverage companies tend to use debt and equity issuance and do not use cash flow generated from business. One of the reasons for this is that the company uses all the cash generated from the operating proceeds to invest directly in the company's internal projects to increase growth.</em></p>

scholarly journals INTERDEPENDENSI KEBIJAKAN DEVIDEN, FINANCIAL LEVERAGE DAN INVESTASI: PENGUJIAN PECKING ORDER THEORY

2009 ◽  
Vol 8 (1) ◽  
Author(s):  
Nency Liono ◽  
Mudji Utami ◽  
Liliana Inggrit Wijaya
Keyword(s):  
Dividend Policy ◽  
Stock Exchange ◽  
Order Theory ◽  
Financial Leverage ◽  
Pecking Order ◽  
Pecking Order Theory ◽  
Beverage Industry ◽  
Food And Beverage Industry ◽  
Food And Beverage ◽  
Financial Decision

The aims of this research to find interdependency relationships among dividend policy, financial leverage, and investment based on pecking order theory testing. Research object includes food and beverages industry which listing in Indonesian Stock Exchange 2002-2007. Given the influence among third the variable hence will know what is there are interdependency among third the variable and what its influence to company in period food and beverage industry 2002-2007 related to company financial decision. Result of this research shows there is interdependency among dividend policy, financial leverage and investment but not support pecking order theory.

scholarly journals PENGUJIAN PECKING ORDER THEORY MENGGUNAKAN REGRESI DATA PANEL PADA INDUSTRI MAKANAN DAN MINUMAN

2007 ◽  
Vol 7 (1) ◽  
pp. 39
Author(s):  
Yunika Murdayanti
Keyword(s):  
Stock Exchange ◽  
Random Effect ◽  
Order Theory ◽  
Fixed Effect ◽  
Least Square ◽  
Pecking Order ◽  
Pecking Order Theory ◽  
Ordinary Least Square ◽  
Food And Beverage ◽  
Research Findings

<p class="Style15">The principal objective in this paper is to ascertain the extent to which Myers (1984) Pecking Order Theory (POT) of business financial appears to explain leverage amongst a pane! of 17 food and beverage companies, taken from Jakarta Stock Exchange during period 2003-2005. The analysis using Panel Data Regression and the research findings reported in the paperthat only profitability and growth significantly influence leverage using both OLS (Ordinary Least Square) and fixed effect. But with OLS, the result finding more significant than fixed effect and random effect. However, the findings also suggest the need for a modified POT that more fully reflects the spade cirazatances and nuances of food and beverage leverage especially when using between long term and short term debt. A full specification fora modified POTof leverage &amp; food and beverage is proposed as a basis for further inquiry in the area.</p><p class="Style15">Keywords: pecking order theory, leverage, profitability, growth, size, age, asset</p>

scholarly journals THE EFFECT OF INFLATION LEVELS AND OIL PRICES ON STOCK RETURN FOOD AND BEVERAGE

2019 ◽  
Vol 17 (2) ◽  
pp. 135
Author(s):  
Kristian Chandra
Keyword(s):  
Regression Analysis ◽  
Stock Returns ◽  
Stock Return ◽  
Stock Exchange ◽  
Oil Prices ◽  
Sampling Techniques ◽  
Purposive Sampling ◽  
Beverage Industry ◽  
Food And Beverage Industry ◽  
Food And Beverage

<p>This study aims to synthesize to see the consequences of inflation and oil prices on stock returns. The shares observed in this study are stocks that are included in the food and beverage section listed on the Indonesia Stock Exchange (IDX) during the year 2010-2015. To determine the sample sorted in this study is to use Purposive Sampling techniques to obtain samples that match the parameters that have been used as a benchmark. The number of food and beverage industry samples that meet the criteria are 13 listed on the Indonesia Stock Exchange in 2010-2015. Regression analysis using the EViews program was chosen as the method used in analyzing the data. The results confirm that inflation has a negative and significant effect on stock returns and oil prices have a positive and significant effect on the return of food and beverage stocks listed on the IDX in 2010-2015.</p>

scholarly journals THE EFFECT OF DER, TATO, ROA AND SHARE PRICE TO PBV (Studies on the food and beverage industry on the Indonesia Stock Exchange period of 2012-2018)

2020 ◽  
Vol 1 (2) ◽  
pp. 210-223
Author(s):  
Iwan Firdaus
Keyword(s):  
Regression Analysis ◽  
Panel Data ◽  
Sampling Method ◽  
Stock Exchange ◽  
Sample Selection ◽  
Research Data ◽  
Share Price ◽  
Beverage Industry ◽  
Food And Beverage Industry ◽  
Food And Beverage

This research is to find out the influence of DER, TATO, ROA and Share Price to PBV on companies listed in Indonesia Stock Exchange retail sub sector ffod and beverage period 2012-2019. The sample selection in this research using saturated sampling method and got 7 companies that match the criteria, so that 49 data were obtained. The research data is obtained from Indonesia Stock Exchange. The method used in this research is panel data multiple regression analysis and it is found that the more appropriate model used is fixed effect. From result of research got value of adjusted R-Square equal to 79,12%. Partially show that DER have negative and significant effect to PBV. TATO, Share Price variable partially had positive and significant effect to PBV. ROA variable partially have positive and no significant effect to PBV.

scholarly journals DETERMINAN STRUKTUR MODAL DALAM PERSPEKTIF PECKING ORDER THEORY PADA PERUSAHAAN SUB SEKTOR MAKANAN DAN MINUMAN YANG TERDAFTAR DI BEI

BISMA ◽  
2019 ◽  
Vol 13 (1) ◽  
pp. 60
Author(s):  
Siti Kholifah ◽  
Sumani Sumani ◽  
Novi Puspitasari
Keyword(s):  
Capital Structure ◽  
Firm Size ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Order Theory ◽  
Pecking Order ◽  
Financial Reports ◽  
Pecking Order Theory ◽  
Food And Beverage ◽  
Asset Growth

This study aims to analyze the effect of firm size, business risk, asset growth, and profitability on capital structure and to examine the application of Pecking Order Theory (POT) in the companies. The population was all food and beverage companies listed in Indonesia Stock Exchange (IDX) in 2014-2016. This research used purposive sampling technique with the sample consisted of 14 companies. Data were sourced from the company financial reports published on IDX's website. Data were analyzed using multiple linear regression. The results showed that profitability had a significant effect on capital structure, while firm size, business risks, and asset growth did not affect the capital structure of the firm. Related to the application of POT, the results showed that there were 6 companies applying POT in 2014, 7 companies applying POT in 2015, and 8 companies applying POT in 2016. Keywords : Capital structure, pecking order theory, food and beverage company

scholarly journals KINERJA KEUANGAN, KINERJA SAHAM DAN STRUKTUR MODAL DI INDONESIA

2018 ◽  
Vol 18 (2) ◽  
pp. 135
Author(s):  
Nera Marinda Machdar
Keyword(s):  
Capital Structure ◽  
Financial Performance ◽  
Stock Exchange ◽  
Order Theory ◽  
Analysis Method ◽  
Pecking Order ◽  
Pecking Order Theory ◽  
Stock Performance ◽  
Observation Period

<p><em>This study addresses the role of the company's financial performance on the company's stock performance, and investigates the role of capital structure as a moderating variable to weaken the effect of the company's financial performance on the company's stock performance. This research uses agency theory and pecking order theory. Panel regression analysis method is used for the data analysis. The data used as the sample of the company is the properti and real estat firms listed in Indonesia Stock Exchange, and the observation period is the year 2011-2016. The number of samples by using purposive samping criteria is available 234 firms-year. The findings of this study is that the company's financial performance has no effect on the company's stock performance, and capital structure can not moderate the effect of the company's financial performance on the company's stock performance.</em></p>

Hierarchical financing and reality of the financial structure of Moroccan listed companies

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Firano Zakaria ◽  
Doughmi Salawa
Keyword(s):  
Stock Exchange ◽  
Financial Structure ◽  
Order Theory ◽  
Debt Ratio ◽  
Growth Opportunities ◽  
Pecking Order ◽  
Positive Role ◽  
Pecking Order Theory ◽  
Content Type

Purpose There is a wealth of literature on the financing structure of a company. For this reason, the authors considered it useful to present a theoretical and empirical literature review of classical and new theories of the financial structure. The purpose of this study is to realize on a panel of 15 nonfinancial Moroccan companies listed on the Casablanca Stock Exchange, over a period of 11 years. Design/methodology/approach The results obtained indicate that only a few variables from financial theory have an important role in the financing policy of Moroccan companies. The authors have presented the positive role of size and self-financing on the debt ratio. The analysis of the effects of profitability shows in this study that it is negative related on the debt ratio which asserts the predictions of the pecking order theory. Also, the age of the company and the growth opportunities explain the level of indebtedness. Findings Econometric analysis is used to ascertain the nature of the financial structure of listed companies. For this purpose, a large number of companies listed on the Casablanca stock exchange were used. Originality/value The authors have presented the positive role of size and self-financing on the debt ratio. Regarding the influence of profitability, this analysis shows that it is negative related on the debt ratio which asserts the predictions of the pecking order theory. Also, the age of the company and the growth opportunities explain the level of indebtedness.

scholarly journals Variabel Fundamental yang Mempengaruhi Struktur Keuangan dan Implikasinya terhadap Rentabilitas Ekonomi

Owner ◽  
2021 ◽  
Vol 5 (2) ◽  
pp. 674-684
Author(s):  
Wiwiek Kusumaning Asmoro ◽  
Novie Astuti Setianingsih ◽  
Eti Putranti
Keyword(s):  
Firm Size ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Financial Structure ◽  
Sales Growth ◽  
Beverage Industry ◽  
Food And Beverage Industry ◽  
Food And Beverage ◽  
Negative Effect ◽  
Retained Earnings

Fundamental variables in this research are shown in the level of sales growth, asset structure, company size and retained earnings. The purpose of this study was to determine the effect of sales growth rate, asset structure, firm size and retained earnings on financial structure. In addition, the purpose of this study is to examine how these variables affect economic rentability. The population in this study is the Food and Beverage Industry Sub-sector listed on the Indonesia Stock Exchange for the 2016-2020 period as many as 15 companies. The sampling technique is using purposive sampling which is a technique in sampling with certain considerations. The sampling technique is carried out proportionally sampling with the type of Judgment Sampling. Data collection technique used is documentation technique with polling data type. The number of samples in this study were 11 companies, the data used in the form of financial statements of the Food and Beverage Industry Subsector obtained from the Indonesia Stock Exchange. The results showed that sales growth and retained earnings had a positive effect on financial structure, while asset structure and firm size had a negative effect. The results of research on economic rentability, sales growth variables and retained earnings also have a positive effect, while asset structure and firm size have a negative effect. So the findings of this study can be concluded that the growth rate of sales, retained earnings can improve the financial structure and economic rentability of the company.

scholarly journals ANALISIS PENGARUH FAKTOR MIKRO EKONOMI TERHADAP RISIKO INVESTASI SAHAM PADA SEKTOR INDUSTRI MAKANAN DAN MINUMAN DI BURSA EFEK INDONESIA

Widya Amerta ◽  
2019 ◽  
Vol 6 (2) ◽  
Author(s):  
Made Santana Putra Adiyadnya ◽  
I Gede Rihayana ◽  
Putu Agus Eka Rismawan ◽  
Bagus Nyoman Kusuma Putra
Keyword(s):  
Exchange Rate ◽  
Capital Market ◽  
Stock Exchange ◽  
National Development ◽  
Investment Risk ◽  
Financial Leverage ◽  
Beverage Industry ◽  
Food And Beverage Industry ◽  
Food And Beverage ◽  
Operating Leverage

The Indonesian Capital Market has an important role in the mobilization of funds for national development. The capability of the Indonesian Capital Market in mobilizing funds has become an important container besides banking to provide funds through the sale of shares and bonds. The counting of return and risk are two important things in any capital or fund to be invested. Investment risk generally is affected by micro and macro factors. The purpose of this research is to analyze how the effect of financial leverage, operating leverage and company liquidity simultaneously and partially to share investment risk on the food and beverage industry in Indonesia stock exchange period 2013-2017. The result of this research were the variable of economic conditions, interest rate, inflation, exchange rate, financial leverage, operating leverage and company liquidity simultaneously have a significant effect to share investment risk on the food and beverage industry in Indonesia stock exchange period 2013-2017 and the variable of exchange rate with financial leverage variable has a negative and significant effect to share investment risk on the food and beverage industry in Indonesia stock exchange period 2013-2017.

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