scholarly journals Pengaruh Struktur Modal, Struktur Kepemilikan, Faktor Teknikal Terhadap Profitabilitas dengan Total Pendapatan Sebagai Variabel Moderasi Pada Sub Sektor Perkebunan Di Bursa Efek Indonesia Periode 2015-2018

2020 ◽  
Vol 5 (2) ◽  
pp. 218
Author(s):  
Yunan Surono ◽  
Amilia Paramita S ◽  
Ali Akbar
Keyword(s):  
Capital Structure ◽  
Ownership Structure ◽  
Latent Variables ◽  
Stock Exchange ◽  
Total Revenue ◽  
Total Income ◽  
Technical Factor ◽  
Positive Direction ◽  
Technical Factors ◽  
The Relationship

This research aims to look at the influence of capital structure, ownership structure, technical factors on profitability with total income as a moderation variable in the plantation sub-sector on the Indonesia Stock Exchange period 2014 – 2018. This research, using secondary data, is data obtained from official reports issued by issuers, institutions and competent authorities. This study used Smart PLS 3.0 where all latent variables in this study had reflective indicators. The results showed that 1). capital structure has no effect on profitability, and has a negative (debilitating) direction. 2). The ownership structure has no effect on profitability, but has a positive direction (strengthening). 3). Technical factors have no effect on profitability, but have a positive direction (strengthening) 4). Moderation variables i.e. total income are not able to moderate the relationship between capital structure variables to profitability variables, with positive direction (strengthening). 5). Total revenue variables are unable to moderate the relationship between ownership structure variables to profitability variables in a positive (corroborating) direction. 6). Total revenue variables are unable to moderate the relationship between technical factor variables to profitability variables in a positive (strengthening) direction.

scholarly journals Pengaruh Makro Ekonomi, Struktur Modal, Struktur Kepemilikan, Faktor Teknikal terhadap Profitabilitas dengan Total Pendapatan Sebagai Variabel Intervening pada Sub Sektor Perkebunan Di Bursa Efek Indonesia Periode 2014-2020

2021 ◽  
Vol 21 (3) ◽  
pp. 1374
Author(s):  
Yunan Surono ◽  
Muhammad Ade Masyhuri
Keyword(s):  
Capital Structure ◽  
Ownership Structure ◽  
Partial Least Square ◽  
Least Square ◽  
Equation Modeling ◽  
Total Income ◽  
Technical Factor ◽  
Macroeconomic Variables ◽  
Structure Variable ◽  
Technical Factors

This study aims to see the relationship between macroeconomic variables, capital structure, ownership structure, technical factors on profitability variables with total income as an intervening variable in the plantation sub-sector stock group on the Indonesia Stock Exchange for the period 2014 – 2020. This study uses SEM (Structural) analysis. Equation Modeling) based on component or variance, namely Partial Least Square (PLS), using Smart PLS 3.0 software. The results showed that 1) macroeconomic variables had no effect on total income. 2) capital structure variable has no effect on total income. 3) ownership structure variable has an effect on total income. 4) technical factor variables have no effect on total income. 5) macroeconomic variables affect profitability. 6) the capital structure variable has no effect on profitability. 7) ownership structure variable has no effect on profitability. 8) technical factor variables affect profitability. 9) Macro economy has no effect on profitability through total income. 10) capital structure has no effect on profitability through total income. 11) ownership structure has no effect on profitability through total income. 12). technical factors have no effect on profitability through total revenue.

scholarly journals The Relationship between the Ownership Structure, Capital Structure and Performance

2018 ◽  
Vol 1 (25) ◽  
pp. 1 ◽  
Author(s):  
Ali Al-Thuneibat
Keyword(s):  
Capital Structure ◽  
Ownership Structure ◽  
Negative Impact ◽  
Positive Impact ◽  
Stock Exchange ◽  
Return On Assets ◽  
Service Companies ◽  
Concentrated Ownership ◽  
And Performance ◽  
The Relationship

This paper aims at providing an empirical evidence concerning the relationship between the ownership structure, capital structure and financial performance of the shareholding companies listed in Amman Stock Exchange (ASE). To measure the ownership structure, the researcher used four variables including foreign, institutional, managerial and concentrated ownership. The capital structure is measured by using the leverage, and the performance is measured by using the return on assets (ROA). To achieve the objectives of the study, a sample of 86 firms from the industrial and service companies listed in ASE during the period 2010 and 2014 is used. The results of the study showed that the relationship between ownership structure in general, and performance is positive and statistically significant, however, the results showed that the various types of ownership structure have different types of relationships with performance. More specifically, there is a negative impact of institutional and foreign ownerships on the performance and positive impact of concentrated and managerial ownerships. The results also revealed that there is a positive impact of the financial leverage on the relationship between ownership structure and firm performance. The findings of the study provide implications to the regulators, investors and managers in Jordan to take into consideration the environment-specific factors when developing corporate regulations and encourage concentrated and managerial ownership because they have positive impact on performance.

PENGARUH FAMILY OWNERSHIP, PERUBAHAN TARIF PAJAK DAN KEBIJAKAN HUTANG TERHADAP NILAI PERUSAHAAN

2017 ◽  
Vol 9 (2) ◽  
Author(s):  
Elfina Astrella Sambuaga
Keyword(s):  
Ownership Structure ◽  
Tax Reform ◽  
Stock Exchange ◽  
Family Ownership ◽  
Corporate Debt ◽  
Tax Rates ◽  
Manufacturing Companies ◽  
The Impact ◽  
The Relationship ◽  
Debt Policy

<p>This study aims to provide empirical evidence related to the influence of family ownership, tax reform on corporate debt policy, and further prove the impact on the firm value.This study examined the effect of changes in tax rates in 2009 and 2010 on the relationship between family ownership structure and corporate debt policy. The population of this research is manufacturing companies listed in Indonesia Stock Exchange for 8 consecutive years (2006-2013), with the period of observation for 7 years (2007-2013). A period of 8 years was taken to see a company that is consistently listed on the Stock Exchange prior to the end of the observation period. The result of this study shows that tax reform from progressive tax rates to a flat rate does not affect the relationship between family ownership structure and corporate debt policy. In contrast to the year 2009, changing rate from 28% to 25% in late 2010 was a significant effect on the debt policy with the company of family ownership. Based on the results, it was found that family ownership and debt policy significantly affect the company's enterprise value. It can be concluded, the higher the family ownership, the company's value would be diminished. Instead, the company's value will increase when the company adds to its debt policy.</p><p>Keywords : debt policy, family ownership, firm value, tax reform.</p>

Do Financially Constrained Firms Earn Higher Returns than the Unconstrained Firms? A Comprehensive Evidence from Pakistan Stock Exchange

2020 ◽  
Keyword(s):  
Time Series ◽  
Asset Pricing ◽  
Capital Structure ◽  
Stock Returns ◽  
Financial Constraints ◽  
Stock Exchange ◽  
Cash Flows ◽  
Total Asset ◽  
Cash Holding ◽  
The Relationship

This paper examines the relationship between financial constraints and the stock returns explaining the pricing of stock through financially constrained and unconstrained firms in Pakistan. Three proxies; total assets, tangible to total assets and cash holding to total assets ratios) have been used for financial constraints and the study tried to investigate that either the investors are compensated for taking the extra risk or not in Pakistan Stock Exchange (PSX). We find that the financially constrained firms don’t earn higher returns when their capital structure is heavy with liquid assets and their cash flows are more than the unconstrained firms in PSX. Moreover, the time series results showed that the risk-adjusted returns of the most constrained firms give the mix and somewhat negative and significant and insignificant results for the Pakistani firms listed in PSX sorted based on tangible to total assets and Cash holding to total asset ratios. Keywords: Asset Pricing, Financial constraints, risk-adjusted performance of portfolios

Investigating the Relationship Between Ownership Structure and Investment Efficiency in Emerging Markets: Evidence From the Egyptian Stock Market

2018 ◽  
Vol 8 (4) ◽  
pp. 1
Author(s):  
Ahmed Sayed Rashed ◽  
Ebitihj Mostafa Abd ◽  
Esraa Fathi Mohamed Ismail ◽  
Doaa Mohamed Abd El Samea
Keyword(s):  
Ownership Structure ◽  
Stock Exchange ◽  
Panel Data Analysis ◽  
Negative Relationship ◽  
Institutional Ownership ◽  
Managerial Ownership ◽  
Investment Efficiency ◽  
Outside Director ◽  
Director Ownership ◽  
The Relationship

This paper aims to examine the relationship between Ownership Structure Mechanisms (Managerial Ownership, Institutional Ownership, Block holder Ownership and Outside Director Ownership) and Investment Efficiency by using panel data analysis. To investigate this relationship used the multiple regression models. Findings of investigation of 35 firms listed on the Egyptian Stock Exchange in the period 2006 to 2015 by balanced Panel model representative. Results indicated that Managerial Ownership isn’t related with investment efficiency. In contract, institutional ownership, block holder ownership and outside director ownership have a negative relationship with investment efficiency. In addition, the researcher found that control variables (Firm size, Debt ratio, Tobin’s Q) not related to investment efficiency. These findings imply that the Majority of Egyptians firms relies on institutional without individual ownership and then reduces much of possible from agency problems and decreasing information asymmetry and facilitating the monitoring of investment decisions.

FAKTOR-FAKTOR YANG MEMPENGARUHI STRUKTUR MODAL PADA PERUSAHAAN MANUFAKTUR DI BURSA EFEK INDONESIA TAHUN 2008-2010

2014 ◽  
Vol 3 (2) ◽  
Author(s):  
Ruflah M Daud
Keyword(s):  
Capital Structure ◽  
Ownership Structure ◽  
Capital Market ◽  
Stock Exchange ◽  
Secondary Data ◽  
Financial Statements ◽  
Fiscal Year ◽  
Company Size ◽  
Sampled Data ◽  
Manufacturing Companies

This study aimed to examine and analyze the effect of liquidity, profitability, company size and ownership structure on capital structure in companies listed in Indonesia Stock Exchange from 2008-2010. The population of this research is all manufacturing companies listed in Indonesia Stock Exchange for the period 2008-2010 and published financial statements on December 31 for the fiscal year 2008-2010. This was a censuses research since all population sampled. Data used in this research is secondary data in the form of financial statements in the Indonesia Stock Exchange (IDX) 2008-2010. Data collection was done by the documentation and classifies data based on the financial statements of the criteria determined. Data  required in this research obtained from the Indonesian Capital Market Directory (ICMD) and the Capital Market Reference Center (PRPM) to address the Indonesia Stock Exchange Building Tower 2 1st Floor, Sudirman street Lot 52-53 Jakarta 12190. Based on these criteria, 114 companies obtained to be the target of Population.The results of this study indicate that both simultaneously, liquidity, profitability, company size, and ownership structure affect firm capital structure. Partially, variable profitability and ownership structure has a positive effect, while the variable size of the companiy’s and liquidity negative affect the capital structure of the manufacturing companies listed in Indonesia Stock Exchange from 2008-2010.  Keywords: Liquidity, Profitability, Company Size and Ownership Structure, Capital Structure

scholarly journals Analisis Struktur Kepemilikan, Faktor Eksternal, Internal Terhadap Struktur Modal, Dividen, Nilai Perusahaan Manufaktur

2020 ◽  
Vol 30 (6) ◽  
pp. 1484
Author(s):  
Nurianah Nurianah ◽  
Muslich Anshori
Keyword(s):  
Capital Structure ◽  
Ownership Structure ◽  
Firm Value ◽  
Structural Equation ◽  
Dividend Policy ◽  
Stock Exchange ◽  
External Factors ◽  
Equation Modeling ◽  
Internal Factors ◽  
Company Value

This study discusses and analyzes the Ownership Structure, External Factors, Internal Against Capital Structure, Dividends and Company Value. The population used in this study is companies listed on the Indonesia Stock Exchange using 37 companies. The data used are from 2010 to 2019, this study uses descriptive statistical analysis and inference with Structural Equation Modeling (SEM). The analysis shows: ownership structure does not oppose capital structure, dividend policy, and firm value, external factors affect internal factors, external factors do not oppose capital structure, external factors do not significantly influence firm value, internal factors related to capital structure, factors internal does not oppose dividend policy, internal factors oppose company value, capital structure opposes dividend policy, dividend policy has no effect on capital structure, capital structure is related to company value, and dividend policy is related to company value. Keywords: Ownership Structure; External and Internal Factors; Dividend Policy; Manufacture.

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