scholarly journals FAKTOR PENENTU STRUKTUR MODAL PADA PERUSAHAAN KELUARGA DAN NONKELUARGA DI INDONESIA

2019 ◽  
Vol 21 (2) ◽  
pp. 179-194
Author(s):  
CLAUDIA PRANANDA ◽  
ULYSVASHTIEN UTAMA ◽  
RINANINGSIH ◽  
VANIA PRADIPTA GUNAWAN

This research aims to examine and analyze the determinants of capital structure in family business and nonfamily business. This research uses sample of 370 companies listed on BEI from 2012 to 2016 using the purposive sampling method. This research uses determinants of capital structure, such as, growth opportunities, debt cost, age, cash flow, size, non-debt tax shield, and investment. Debt to asset ratio is used as the proxy of capital structure. Results show growth opportunities and debt cost have negative relationship with capital structure, however size has positive relationship with capital structure in all firms in Indonesia. Furthermore, family ownership strengthens the negative relationship of debt cost, age, and cash flow on capital structure, however size weakens the positive relationship with capital structure.  

2021 ◽  
Vol 2 (1) ◽  
pp. 59-77
Author(s):  
Syafri Nosit ◽  
Yulia Efni ◽  
Gusnardi Gusnardi

This study is aimed to examine the effect of risk business, liquidity, sales growth, non-debt tax shield on capital structure. The population of this study is metal and allied products companies listed in Indonesia Stock Exchange from 2014 - 2018. The sample of the study is all companies were selected by purposive sampling method. Based on the criteria, 13 companies were chosen as the samples of this study. This study used multiple linear regression analysis was used to test whether the independent variables affect the dependent variables. The results of this study is found that risk business and non-debt tax shield on capital structure have a negative an insignificant effect on capital structure, Liquidity and Sales Growth on capital structure have a negative an significant effect on capital structure. The limitations of this study are driven by the variable, year and sample size. Therefore further reseacrh can use other variables and extension other industries could bring the comprehensive results


2019 ◽  
Vol 3 (3) ◽  
pp. 129-139
Author(s):  
Ella Novia Galin ◽  
Idamiharti Idamiharti

The purposes of this study were to examine the influence of profitability, firm size, growth, asset structure, non debt tax shield on the capital structure and the influence of capital structure on the firm value. The sample used in this research are infrastructure, utility and transportation sector that listed in Indonesia Stock Exchange (ISE) period 2010-2013, which is choosing by purposive sampling method. Testing hypotheses were tested using multiple linear regression. The results showed that only profitability has significant effect on capital structure. Beside that, capital structure also has significant effect on firm value. Keywords : Capital Structure, Firm Value, Profitability, Firm Size, Growth, Asset Structure, Non Debt Tax Shield


Author(s):  
Pascasarjana FEB UNTAN Magister Manajemen

This research aims to analyze how much influence the profitability, tangibility, growth opportunities, non-debt tax shields, free cash flow on capital structure with company size as a moderating variable. Data analysis model used in this research is descriptive statistical analysis and inference. The population in this research are property, real estate and building construction companies listed on the Indonesia Stock Exchange during the period of 2013-2017. The samples were selected by using purposive sampling of 45 companies which sample companies collected with the criteria of having financial reports in a row during the research period. The research results show that the variable of profitability, tangibility, free cash flow had a negative and significant effect on capital structure. While the growth opportunity variable has a positive and significant effect on capital structure. Non-debt tax shields have no effect on capital structure. In addition, company size as a moderating variable has a significant effect as moderation between the relationship of tangibility to capital structure and growth opportunities to capital structure, but does not moderate the relationship of profitability to capital structure, non-debt tax shields to capital structure and free cash flow to capital structure.


2018 ◽  
Vol 4 (2) ◽  
pp. 127-133
Author(s):  
Lala Rukh ◽  
Sangeen Khan ◽  
Hazrat Bilal

The current study has taken the firms listed on KSE (Karachi Stock Exchange) now called Pakistan stock exchange. The data for the said purpose is collected for five years of time period from 2005 to 2010. The results obtained demonstrate that all the selected variables under study shows a highly significant impact on the determinants of capital structure except the tangibility of the asset.  The insignificant relationship of tangibility with the capital structure supports the financing hierarchy theory.  While the Growth, Size and profitability shows a significant and negative relationship with leverage. The negative relationship of growth shows that higher the growth of the firms lower will be the leverage maintained by the firm. Similarly, firms with smaller size show that such firms prefer high leverage as compared to firms of larger size. The results reveal that higher the profitability of the firm lower will be the leverage ratio. While the positive relationship of the volatility of the earnings states that firms with higher risks has high leverage ratio. Overall a detailed description and impact of the different variables on leverage is provided in the current study.


2017 ◽  
Vol 13 (7) ◽  
pp. 69
Author(s):  
Pasit Leeniva ◽  
Prapatpong Upala

The objectives of this research are to evaluate acoustic environments and to forecast STI values from spatial component variables in the large classrooms of the Thai public university that were specially controlled the same room finishing materials including the floor, walls, and ceiling. Whereas the five spatial component factors included (1) Room Volume (RV), (2) Ceiling Height (CH), (3) the Ratio of Depth to Width (Rdw), (4) Total Room Surface (TS), and (5) Percentage of Absorbing Surface areas (PAS). The research tools were the smartphones that used the applications for acoustical evaluation and speech intelligibility analysis. The Speech Transmission Index (STI), Reverberation Time (RT), and Background Noise Level (BNL) were collected by the calibrated microphone in the nine points distributed across the entire room. And also, the sounds for testing were simulated such as balloon burst, and STIPA signal via a sound generator. The Thailand Speech Intelligibility (T-SI) model was developed by the multiple regression analysis with a statistical at a confidence level of 95%.The results showed that this T-SI model depended on the strongly positive relationship of PAS and the slightly positive relationship of CH, TS while the RV, Rdw were slightly the negative relationship and which predicted STI values. Moreover, the highest affecting variable of T-SI model was CH and the lowest was PAS. However, this research implies that the improving room acoustic quality would be adjusting the sound absorbing surface areas i.e., increase the cloth curtain or appropriate methods.


2017 ◽  
Vol 13 (8) ◽  
pp. 121
Author(s):  
Mingjun Zhu

High-tech small and medium-sized enterprises (SMEs) have played an important role in promoting the development of Chinese national economy, but most of them are still facing the difficulty in financing. This paper determines the major factors affecting the financing for high-tech SMEs by using multiple linear regression (MLR) method and significance test then comes to a conclusion that enterprise scale, enterprise growth, tangible asset ratio and equity liquidity have positive relationship with the financing of high-tech SMEs while profitability, accumulation, non-debt tax shield and solvency have negative effects.


2020 ◽  
Vol 24 (1) ◽  
pp. 1
Author(s):  
Rahmat Hidayat, Farah Margaretha Leon

This study aims to analyze the green CSR  of innovation performance  with firms approval variables  and public visibility   can support moderating the relationship of green CSR  and innovation. The research sample was 33 manufacturing companies. The results showed that the  green CSR has a positive and significant effect on innovation . Also, the company approval variable has been proven to moderate the direction of a positive relationship between green CSR and innovation . The results also prove that public visibility is proven to moderate the direction of the negative relationship between green CSR and performance. This study provide information that shows great concern for the environment; it will increase the company in making changes through innovation activities. Also, the higher the company's approval and public visibility, the company will get support from various stakeholders to run the firms. The level of company concern for CSR activities will be a misjudgment for investors.


2021 ◽  
pp. 160-187
Author(s):  
Indah Lestari

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.


2021 ◽  
Vol 1 (29) ◽  
pp. 21-27
Author(s):  
S. A. Smakotina ◽  
Yu. A. Bokhanov

Objective. Patients with stage 5 chronic kidney disease.Study objective. Determination of factors affecting cognitive function in patients with CKD-5.Design and methods. The study included young and middle-aged patients (18 to 60 years old) (n = 40), there is a terminal stage of chronic kidney disease (CKD). Exclusion criteria: history of diseases of the central nervous system, brain injury, episodes of cerebrovascular accident with severity, coronary artery disease, chronic heart failure, pregnancy, abuse of alcohol, refusal to participate in the study. In a previous work, patient examination data were obtained on the Status PF hardware complex. Neurodynamic indicators were estimated, including the determination of the time of a simple visual-motor reaction (MTCM) and a complex visual-motor reaction (MPSM), reaction to a moving object (RDO), memory and attention. Using Spearman’s correlation analysis, we evaluated the impact on cognitive functions of a number of factors, presumably related to neurodynamics. The following factors were selected: age, creatinine level, NSE and S100 proteins, hemoglobin level, Beck’s depression points, indicators of personal and situational anxiety.Results. All patients examined on the Status PF software package had mild cognitive impairment in terms of neurodynamics, attention, and memory. The average positive relationship between the level of depression and various indicators of RDO was established: with RDO_average (ρ = 0.405; p = 0.018), with RDO_total delay (ρ = 0.540; p < 0.001), with RDO_average delay (ρ = 0.421; p = 0.007), as well as weak positive – with CEMR average exposure (ρ = 0.358; p = 0.023). An average positive relationship of creatinine level with RDO_O (ρ = 0.438; p = 0.005) is noted. A weak positive relationship between the level of personal anxiety and RDO_total delay (ρ = 0.334; p = 0.035) was revealed. The average negative relationship between hemoglobin level and RDO_total delay (ρ = –0.535; p < 0.001) was revealed. A weak positive relationship between situational anxiety and SEMR is determined by the number of errors (ρ = 0.364; p = 0.021), as well as a weak negative one with the attention volume (ρ = –0.357; p = 0.024). A weak negative relationship of age with visual memory per word was revealed (ρ = –0.362; p = 0.022).Domain of usage. Outpatient and hospital treatment stages of patients with chronic kidney disease case management


Author(s):  
Abdul Ghafoor Khan

Purpose: The purpose of this study is to find the relationship of capital structure decision with the performance of the firms in the developing market economies like Pakistan.Methodology: Pooled Ordinary Least Square regression was applied to 36 engineering sector firms in Pakistani market listed on the Karachi Stock Exchange (KSE) during the period 2003-2009.Findings: The results show that financial leverage measured by short term debt to total assets (STDTA) and total debt to total assets (TDTA) has a significantly negative relationship with the firm performance measured by Return on Assets (ROA), Gross Profit Margin (GM) and Tobin’s Q. The relationship between financial leverage and firm performance measured by the return on equity (ROE) is negative but insignificant. Asset size has an insignificant relationship with the firm performance measured by ROA and GM but negative and significant relationship exists with Tobin’s Q. Firms in the engineering sector of Pakistan are largely dependent on short term debt but debts are attached with strong covenants which affect the performance of the firm.Originality/Value: This is first paper to study an individual sector like engineering industry in Pakistan on the mentioned topic.


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