scholarly journals Pengaruh Struktur Modal dan Kemampulabaan Terhadap Return Saham Perusahaan Properti dan Real Estate Yang Terdaftar di BEI Tahun 2013-2015

2020 ◽  
Vol 8 (1) ◽  
pp. 19-28
Author(s):  
Wadudi Wibowo ◽  
Ani Mekaniwati
Keyword(s):  
Real Estate ◽  
Capital Structure ◽  
Stock Returns ◽  
Financial Analysis ◽  
Secondary Data ◽  
Financial Information ◽  
Panel Regression ◽  
Independent Variables ◽  
Property Companies ◽  
Two Independent Variables

This research is to acknowledge the influence of capital structure and profitability to the stock returns of the listed real estate and property companies in BEI on 2013-2015. This research consists of two independent variables regarding capital structure and profitability, and one dependent variable regarding stock returns. Data used is secondary data which could be accessed from www.idx.co.id . The hypothesis testing in this research uses data panel regression model. The results are: 1) positive & significant results between DER towards capital returns 2) positive & significant results between NPM towards capital returns. The contributions for potential investors, this research was hoped to increase the knowledges of financial information of the companies specialised in real estate & properties sector. Also hoped to give good contributions to discussion on financial analysis particularly related with DER, NPM & capital returns.   Keywords : capital structure, profitability, stock returns, and data panel regression

A Study on Optimal Capital Structure of Vietnamese Real Estate Listed Firms

2018 ◽  
pp. 45-70
Author(s):  
Binh Thi Thanh Dao ◽  
Phuong Hoai Lai
Keyword(s):  
Real Estate ◽  
Capital Structure ◽  
Stock Returns ◽  
Secondary Data ◽  
Debt Structure ◽  
Theoretical Frameworks ◽  
Equity Prices ◽  
Listed Firms ◽  
Endogenous Default ◽  
Primary Focus

This paper focuses on those structural models with an endogenous default barrier where firms optimally choose a default boundary so as to maximize the equity value. The analysis commences to cover avowedly theoretical frameworks from pioneering works by Black-Scholes (1973) and Merton (1974) on zero-coupon debts to later extensions of those models for a more complex debt structure to include coupon perpetual bonds (Leland, 1994) and of arbitrage maturity or rolledover debts (Leland and Toft, 1996). Furthermore, this paper studies the empirical performance of capital structure models by testing the optimized gearing levels computed from those models with different assumptions. Parameters of these models are estimated from the firms’ equity prices. The novelty of this paper lies in the fact that it is not merely a summary of static theories on capital structure but it is the first of its kind to empirically study the capital structure choices of Vietnamese real estate firms, with primary focus on static models. This research follows secondary data analysis to investigate market information of stock returns and attempts to examine the potential dissimilarity in actual and proposed optimal gearing levels for the two years 2014 and 2016.

scholarly journals DETERMINAN STRUKTUR MODAL: KAJIAN LIKUIDITAS, PELUANG PERTUMBUHAN DAN ASSET BERWUJUD PERUSAHAAN SUB SEKTOR PROPERTY & REAL ESTATE DI INDONESIA

2020 ◽  
Vol 5 (2) ◽  
pp. 1-12
Author(s):  
Ranila Suciati
Keyword(s):  
Real Estate ◽  
Capital Structure ◽  
Cross Sections ◽  
Quantitative Research ◽  
Stock Exchange ◽  
Secondary Data ◽  
Panel Data Regression ◽  
Tangible Assets ◽  
Data Regression ◽  
Property Companies

This study aims to determine the effect of Liquidity, Growth Opportunities, and Tangible Assets on the Capital Structure of Property and Real Estate Companies in Indonesia. This research is a quantitative research which aims to systematically explain the facts and properties of an object in the study and then merge between the variables associated with it by presenting secondary data from financial statements of property companies in Indonesia. The population used in this study are property companies listed on the Indonesian stock exchange in the period 2012-2016. The sample used in this study were 32 property companies in Indonesia by using the purpose sampling method to obtain a representative sample that matches the established criteria. In this study, the data analysis method used is the panel data regression method which is a combination of time series and cross sections in property companies in Indonesia. Research results for property companies in Indonesia The R square value of this model is 0.5126 which means that variations of capital structure that can be explained by the independent variables analyzed are LIQ, GROWTH, and TANG by 51.26 percent and the remaining 48.74 percent explained by other factors not included in this study.

scholarly journals Analisa Nilai Perusahaan Ditinjau dari Profitabilitas dan Struktur Modal dengan Ukuran Perusahaan sebagai Variabel Intervening (Studi Empiris pada Perusahaan Subsektor Properti dan Real Estate yang Terdaftar di Bursa Efek Indonesia Tahun 2015 – 2018)

2020 ◽  
Vol 5 (01) ◽  
pp. 104-121
Author(s):  
Joni Joni ◽  
Hamdy Hady ◽  
Elfiswandi Elfiswandi
Keyword(s):  
Real Estate ◽  
Capital Structure ◽  
Firm Size ◽  
Firm Value ◽  
Total Population ◽  
Stock Exchange ◽  
Secondary Data ◽  
Direct Influence ◽  
Analysis Model ◽  
Independent Variables

This reaserch was aimed to analyze the firm value in terms of profitability, capital structure and firm size partially and simultaneously on property and real estate companies listed on the Indonesia Stock Exchange in 2015 - 2018.  The independent variables used in this study are profitability and capital structure; firm size as an intervening variable.  While the dependent variable in this study is firm value.  Firm value was calculated by using the Tobin'Q ratio. The total population in this research was 54 companies and 30 companies were taken as the sample.  This research used secondary data that has passed the Classical Assumption Test.   Hypothesis testing was carried out using Multiple Linear Analysis, Model test (t-test and F-Test), Coefficient Determination, and Path Analysis. The result of the research shows that :(1) Profitability partially has no effect on firm size ;(2)  Capital structure partially has no effect on firm size ; (3) Profitability and capital structure simultaneously have no effect on firm size ;(4) Profitability partially has no effect on firm value ; (5) Capital structure partially has significant effect on firm value ;(6) Firm size partially has a significant effect on firm value ; (7) Profitability, capital structure and firm size simultaneously have  significant effect on firm value : (8) Profitability has  direct influence on firm value ;(9) Capital structure has direct influence on firm value.

scholarly journals Analysis Factor of Capital Structure Property and Real Estate Companies in Indonesia

2018 ◽  
Vol 6 (2) ◽  
pp. 103-117 ◽  
Author(s):  
Ranila Suciati ◽  
Unggul Purwohedi ◽  
Gatot Nazir Ahmad
Keyword(s):  
Real Estate ◽  
Capital Structure ◽  
Quantitative Research ◽  
Secondary Data ◽  
Financial Statements ◽  
Stock Exchanges ◽  
Company Size ◽  
Structure Property ◽  
Independent Variables ◽  
Growth Opportunity

This study aims to determine the effect of company Size (SIZE), Liquidity(LIQ), Growth Opportunity (GROWTH), Tangibility (TANG), dan Bussines Risk (RISK) of Capital Structure-property and real estate in Indonesia. This research is quantitative research aiming to work out a systematically explain the facts and properties in an object in the study then do the merger between related variables in it with the presentation of secondary data from the financial statements of banking companies in the country of Indonesia. The population used in this study is a banking company listed in Indonesia stock exchanges in the period 2009-2016. Research results for property and real estate in Indonesia The value of R square model is 0,589 percent means that the variation of capital structure that can be explained by the independent variables in the analysis of Size, Liq, Growth, Tang, and Risk of 58.90 percent of the remaining of 41.1 percent explained by other factors not included in this study.  

scholarly journals Pricing ESG Equity Ratings and Underlying Data in Listed Real Estate Securities

2021 ◽  
Vol 13 (4) ◽  
pp. 2037 ◽  
Author(s):  
Dirk Brounen ◽  
Gianluca Marcato ◽  
Hans Op ’t Veld
Keyword(s):  
Real Estate ◽  
Best Practices ◽  
Stock Returns ◽  
The Real Estate ◽  
Public Property ◽  
European Public ◽  
Property Companies ◽  
Real Estate Securities ◽  
The Impact ◽  
European Markets

By analyzing the adoption of the European Public Real Estate Association’s (EPRA) Sustainability Best Practices Recommendations (sBPR), we examine and discuss the application of transparent environmental, social and governance (ESG) ratings and their interaction with public real estate performance across European markets. Due to increasing concerns about the environment and the impact of investment on society at large, public property companies have made significant progress in improving transparency and enhancing the protection of shareholder value by sharing and reporting ESG best practices. We explore and review the EPRA sBPR database, which is highly useful for investors who are already screening listed real estate companies. Hence, in this project, we carefully study the diffusion process of this new ESG metric as a tool to enhance informational transparency regarding public real estate investment management and assess the effects of this transparency and ESG performance for the real estate stock returns. We find evidence of a sustainability premium that investors are willing to pay to access companies with better sustainable ratings.

scholarly journals PENGARUH PENERBITAN SUKUK TERHADAP REAKSI PASAR (SURVEY TERHADAP PERUSAHAAN-PERUSAHAAN YANG MENERBITKAN OBLIGASI SYARIAH YANG TERDAFTAR DIBURSA EFEK INDONESIA SELAMA TAHUN 2015)

2019 ◽  
Vol 4 (3) ◽  
pp. 496-503
Author(s):  
Mulya Iskandar ◽  
Ridwan Ridwan
Keyword(s):  
Stock Returns ◽  
Abnormal Return ◽  
Research Method ◽  
Quantitative Research ◽  
Stock Exchange ◽  
Secondary Data ◽  
Cumulative Abnormal Return ◽  
Market Reactions ◽  
Independent Variables ◽  
The Relationship

This study aims to determine how the influence of a sukuk instrument issuance on market reactions listed on the Indonesia Stock Exchange (IDX) during 2015. The research method used in this study is quantitative research. Quantitative research contains a relationship between cause and effect. The type of data used is secondary data, data collection used by the author is to know the relationship between two or more variables. The object to be examined in this study is the total value and rating of the issuance of Islamic bonds (sukuk) companies as independent variables and cumulative abnormal return shares of companies that issue Islamic bonds (sukuk) listed on the Indonesia Stock Exchange in 2015. The results of this study indicate the value of sukuk bond issuance and sukuk bond issuance ratings jointly affect stock returns. The value of issuing sukuk bonds partially affects stock returns and the rating of bond issuance has an effect on return.

scholarly journals Pengaruh Kepemilikan Asing , Leverage, Cash Holdings Dan Debt Maturity Terhadap Kinerja Keuangan Perusahaan

2020 ◽  
Vol 2 (3) ◽  
pp. 2893-2911
Author(s):  
Murti Sari Dewi ◽  
Erly Mulyani
Keyword(s):  
Real Estate ◽  
Financial Performance ◽  
Sampling Method ◽  
Stock Exchange ◽  
Cash Holdings ◽  
Secondary Data ◽  
Foreign Ownership ◽  
Debt Maturity ◽  
Panel Regression ◽  
Cash Holding

This study aims to examine the effect of foreign ownership, leverage, cash holding and debt maturity on financial performance in property and real estate companies listed on the Indonesia stock exchange (idx) in the period 2014-2018. This study is categorized as causative research. The population in this study are property and real estate companies listed on the Indonesia stock exchange (idx) in the period 2014-2018. By using purposive sampling method, there were 24 companies as the research’s sample. The type of data used is secondary data and used is panel regression analysis. The results of this study indicate that foreign ownership, cash holding and debt maturity has no significant effect on financial performance, only leverage has significant effect on financial performance

scholarly journals DETERMINATION OF CAPITAL STRUCTURE FACTORS: EVIDENCE FROM BUILDING CONSTRUCTION INDUSTRIES IN INDONESIA

2019 ◽  
Vol 17 (1) ◽  
pp. 79
Author(s):  
Febria Nalurita
Keyword(s):  
Capital Structure ◽  
Time Series Data ◽  
Secondary Data ◽  
Total Sample ◽  
Order Theory ◽  
Building Construction ◽  
Series Data ◽  
Trade Off ◽  
Independent Variables ◽  
Construction Companies

<p>Research has contributed to testing the Determinants of Capital Structure: Evidence from the Building Construction Industry in Indonesia, in the period 2008-2015.Secondary data used is based on time series data and cross section. Through the purposive sampling method, the total sample selected are 6 construction construction companies and used panel data regression analysis techniques that are processed with programEVIEWS 9. From the Chow test and Hausman test results show that as a data estimation technique used is the Fixed Effect model.Five independent variables in this study, which resulted in an analysis that partially profitability and liquidity had a significant effect on leverage. The results of this empirical study indicate that there is strong evidence to support the pecking order theory by building construction companies based on variable liquidity determinants of capital structure, and profitability variables are also very supportive for the trade-off theory relationship. Firm size, tangibility and non-debt tax shield have no significant effect on leverage.<br />Together, firmsize factors, profitability, tangibility, non-debt tax shields and liquidity significantly influence the leverage of building construction companies. So, based on the trade-off theory, optimal leverage is a balance between tax benefits from debt and bankruptcy costs and agency costs incurred by the company.The sample in this study is only building construction companies so that they only have specifications in the type of business of the sample company, so the influence of the independent variables (only) only describes the specific influence in the building construction sector.</p>

scholarly journals Pengaruh Cash Ratio, Debt to Equity Ratio, dan Return On Assets Terhadap Return Saham dengan Nilai Tukar sebagai Variabel Moderating Pada Perusahaan Perkebunan yang Terdaftar di Bursa Efek Indonesia (BEI) Periode 2014-2018

2020 ◽  
Vol 5 (1) ◽  
pp. 57
Author(s):  
Yunan Surono ◽  
Andrian Hadinata
Keyword(s):  
Stock Returns ◽  
Stock Exchange ◽  
Descriptive Analysis ◽  
Secondary Data ◽  
Sampling Technique ◽  
Return On Assets ◽  
Significance Level ◽  
Independent Variables ◽  
Equity Ratio ◽  
The Relationship

The purpose of the research is to analyze the Influence of Cash Ratio, Debt To Equity Ratio and Return On Assets to Stock Return With Exchange Rate as Moderating Variables In Plantation Companies Listed In Indonesia Stock Exchange. This research uses descriptive analysis and statistical analysis methods. data that uses secondary data. This study focuses on the influence of 3 independent variables on the dependent variable by adding moderation variables to determine whether the moderating variable can affect the relationship between the independent variables on the dependent variable. Hypothesis testing in this study uses the F test and t test, with a brief significance level (a) 5%. This data analysis uses SPSS 20 data processing software for Windows. The population of this study is companies engaged in the plantation sector in the Indonesia Stock Exchange period 2014 - 2018, with a purposive sampling technique, obtained 6 companies that have fullfill criteria in this research. The results of this study partially Cash Ratio, Debt to Equity Ratio, and Return On Assets have a significant effect on stock returns, partially Debt to Equity Ratio and Return On Assets have a significant positive effect on stock returns, while Cash Ratio has no significant effect on stock returns. and the value is not able to affect the relationship between independent variable and dependent variable.

scholarly journals ANALISIS FAKTOR INTERNAL YANG MEMPENGARUHI AUDIT DELAY

Neraca ◽  
2022 ◽  
Vol 17 (2) ◽  
pp. 14-37
Author(s):  
Muhamad Yusuf ◽  
U Usamah ◽  
Uswatun Khasanah
Keyword(s):  
Real Estate ◽  
Stock Exchange ◽  
Secondary Data ◽  
Financial Statements ◽  
Equation Model ◽  
Company Size ◽  
Simultaneous Test ◽  
Analysis Technique ◽  
Property Companies ◽  
Sample Method

The purpose of this study is to determine the effect of Auditor Opinion, Profitability, Liquidity, Company Size, Age of the company to Audit Delay on real estate and property companies listed on the BEI both simultaneously and partially. The population of this study is a real estate and property company listed on the Stock Exchange in 2015 until 2017.             The sample method used is Purposive Sampling with the number of companies as many as 12and 61 samples used in this study. The data used is secondary data, namely date and financial statements of real estate and property companies listed on the Indonesia Stock Exchange in 2015 until 2017. Analysis technique used in this study is multiple linier regression analysis.             Based on the result of test which is tested with t test of variable profitability and company size have a significant effect to variable of Audit Delay. The variables of Auditor Opinion, Liquidity, Age of the company have no effect on audit delay. While based on simultaneous test (F test) of Auditor Opinion, Profitability, Liquidity, Company Size, and Age of the company have influence to Audit Delay. The amount of  R2 in real estate and property in Indonesia amounted to 0.977 this shows the effect of independent variables ie auditor opinion, profitability, liquidity, company size, and age of the company to variable Audit Delay can be explained by this equation model of 97.7% while the remaining 2.3% influenced by other factors outside the study.   Keyword: Audit Delay, Auditor Opinion, Profitability, Liquidity, Company Size, Age of the company

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