Study on the Sustainable Development of Chinese Energy Industry Based on the Influencing Factors of Capital Structure

2014 ◽  
Vol 962-965 ◽  
pp. 1854-1857
Author(s):  
Ming Pang ◽  
Hong Mei Wu ◽  
Jin Ke Wang
Keyword(s):  
Capital Structure ◽  
Financial Risk ◽  
Economies Of Scale ◽  
Control Mechanism ◽  
Developing Economies ◽  
Stock Exchange ◽  
Energy Industry ◽  
The Sustainable Development ◽  
Existing Problems ◽  
Energy Companies

Based on the characteristics of the energy industry, this paper dissects the capital structure status of Chinese energy companies, and then points out the existing problems. The 8-year’s financial data of PetroChina, Sinopec and CNOOC, which are all listed in Stock Exchange of Hong Kong, are selected for empirical analysis, and concluded that, profitability, company size, collateral value of assets and liquidity ratio of assets are negatively correlated to corporate asset-liability ratio, but the growth is positively correlated to it. Finally, this paper provides advices on developing economies of scale, financing, investing and improving corporate financial risk control mechanism.

scholarly journals THE EFFECT OF ASSET STRUCTURE, CAPITAL STRUCTURE, AND MACRO ECONOMICS ON FINANCIAL RISK MANAGEMENT, PROFITABILITY PERFORMANCE, GOING CONCERN AND VALUE OF THE FIRM AND GCG AS MODERATED VARIABLES IN COMPANIES LISTED IN JAKARTA ISLAMIC INDEX

2019 ◽  
Vol 3 (03) ◽  
Author(s):  
Solichah Solichah ◽  
Tri Ratnawti ◽  
Srie Hartutie Moehaditoyo
Keyword(s):  
Risk Management ◽  
Capital Structure ◽  
Quantitative Research ◽  
Financial Risk ◽  
Sampling Method ◽  
Stock Exchange ◽  
Research Data ◽  
Financial Risk Management ◽  
Going Concern ◽  
Testing Techniques

The population in this study were 30 sharia stock companies listed on the Jakarta Islamic Index in the period 2013 to 2017. The research sample of 16 companies were selected using a purposive sampling method with certain criteria. This type of research is quantitative research, with research data obtained from the IDX website (Indonesia stock exchange) and data testing techniques using PLS test equipment. The results showed that 1) asset structure has no significant effect on financial risk management, 2) asset structure has a significant effect on profitability performance, 3) asset structure has a significant effect on going concern 4) asset structure has a significant effect on the value of the firm 5) capital structure has significant effect on financial risk management 6) capital structure has a significant effect on profitability performance, 7) capital structure has a significant effect on going concern, 8) capital structure has no significant effect on the value of the firm, 9) macroeconomic has a significant effect on financial risk management, 10) Macroeconomic has a significant effect on profitability performance, 11) Macroeconomic has a significant effect on going concern, 12) Macroeconomic has a significant effect on the value of the firm, 13) Financial risk management has a significant effect on the value of the firm, 14) Financial Risk Ma Management has a significant effect on profitability performance, 15) Profitability performance has a significant effect on going concern, 16) Profitability performance has a significant effect on the value of the firm, 17) Going concern has a significant effect on the value of the firm 18) GCG moderates going concern has a significant effect on value of the firm 19) GCG moderates the profitability performance significantly influences the value of the firm 20) GCG moderates the financial risk management does not significantly influence the value of the firm, and at last,21) GCG significantly influences the value of the firm. Keywords: asset structure, capital structure, macroeconomic, financial risk management, profitability performance, going concern, GCG, value of the firm

scholarly journals Development and Analysis of the Wind Power Industry in Xinjiang, China

2018 ◽  
Vol 8 (2) ◽  
pp. 51
Author(s):  
Shuai Li ◽  
Lubing Xie ◽  
Xiaoming Rui
Keyword(s):  
Sustainable Development ◽  
Wind Power ◽  
Power Industry ◽  
Energy Industry ◽  
The Sustainable Development ◽  
Healthy Development ◽  
The Road ◽  
Existing Problems ◽  
Western Development ◽  
Wind Power Industry

As one of the energy bases of China, Xinjiang Uygur Autonomous Region has participated in a series of developing programs, such as The Western Development (2000), The Belt and the Road (2014), and The Global Energy Internet Strategy (2015), which signify that China places considerable importance to the sustainable development of the energy industry in Xinjiang. As an important part of the energy industry in Xinjiang, the emerging wind power industry in this region has developed rapidly in recent years. However, many problems have emerged, such as the abandoned wind power rationing, which seriously restricts the healthy development of the wind power industry. In this study, we introduce the development of the renewable energy industry and analyze the wind energy resources in Xinjiang. We mainly investigate the development situation and existing problems in the wind power industry. Then we focus on the problem of wind power curtailment, analyze the causes, and propose measures and strategies to alleviate this problem. Our findings will contribute to the sustainable development of the wind power industry in Xinjiang.

scholarly journals Is Capital Structure Important in Contemporary Finance Relations?

2020 ◽  
Author(s):  
Dean Učkar
Keyword(s):  
Capital Structure ◽  
Financial Markets ◽  
Behavioral Finance ◽  
Financial Risk ◽  
Stock Exchange ◽  
Investment Projects ◽  
Starting Point ◽  
The Subject ◽  
The Impact ◽  
Negative Link

t The various combinations of sources of financing that a business uses in its operations have multiple impacts on the generation of its cash flow. Such influence can be viewed from the aspect of forming the total cost of financing the company, from the aspect of investments where such an indicators represents the minimum level of required profitability of investment projects, as well as from the aspect of investors in an enterprise where different capital structure carries with it a different level of financial risk. It is therefore not surprising that there is considerable scientific interest in this issue and numerous researches conducted on this topic. Moreover, the relevance of the subject is also evidenced by the fact that there are numerous theories on the formation of capital structure and its consequences on the valuation of the company, that is, the influence on the market value of the company's shares. This paper will determine the average values of the formation of the capital and financial structure of Croatian companies listed on the Zagreb Stock Exchange. The analysis of 30 companies over a ten-year period from 2009 to 2018 will seek to show the impact that the formed capital structure has on profitability. By establishing a negative link between the selected debt indicators and the profitability indicators, the validity of contemporary capital structure theories, which have their starting point in behavioral finance and are specific for developed financial markets, has been rejected.

scholarly journals AN ANALYSIS OF FINANCIAL PERFORMANCE AND INVESTOR’S EXPERIENCE OF INDIAN RENEWABLE ENERGY INDUSTRY

2021 ◽  
Vol 5 (1) ◽  
pp. 1-9
Author(s):  
T. S. Devaraja ◽  
D. K. Jagadeesha
Keyword(s):  
Renewable Energy ◽  
Financial Performance ◽  
Social Economy ◽  
Energy Sector ◽  
Jel Classification ◽  
Energy Industry ◽  
The Sustainable Development ◽  
Investment Experience ◽  
Energy Companies ◽  
Renewable Energy Industry

The development of the renewable energy industry is an important support for the sustainable development of the social economy. It is strategic significance in economic and national security is immeasurable. The process of cultivating, developing, and upgrading the renewable energy industry in India is a comprehensive system that includes finance, resources, technology, and management. Renewable energy finance is a new area of public policy that requires innovation and research that will have a significant impact on investors in the World. Till today, many researchers think renewable energy is an issue of science and engineering, but the future of renewable energy is no longer about science and technology; it's all about access to finance. The renewable energy sector in India is growing rapidly and presents an opportunity for strong financial returns. The present research paper aims to know the financial performance of selected renewable energy companies of the Indian renewable energy industry through various financial ratios. The financial performance of any industry is effect to their respective industrial investors. Hence, investors' experience is analyzed. A specific group of investors who invest in the renewable energy industry is selected and posed a structured questionnaire to know their investment experience in the renewable energy sector in India. JEL Classification Codes: F36, P17, G23, Q29, Q43, L7

scholarly journals THE EFFECT OF ASSET STRUCTURE, CAPITAL STRUCTURE, MACRO ECONOMY AND FINANCIAL RISK MANAGEMENT ON THE VALUE OF THE FIRM IN COMPANIES LISTED ON THE JAKARTA ISLAMIC INDEX

2019 ◽  
Vol 7 (12) ◽  
pp. 99-107
Author(s):  
Solichah Solichah
Keyword(s):  
Risk Management ◽  
Capital Structure ◽  
Capital Market ◽  
Quantitative Research ◽  
Financial Risk ◽  
Stock Exchange ◽  
Secondary Data ◽  
Research Data ◽  
Sampling Techniques ◽  
Financial Risk Management

The Islamic capital market has importtant roles, they are as a source of funding for companies for business development through the issuance of syari’ah securities, as a means of syari’ah  securities for syari’ah capital market investors that are universal, can be utilized by anyone regardless of ethnic, religion and racial backgrounds. The purpose of this research  to 1) examine, analyze and prove the Asset Structure, Capital Structure, Macroeconomics of Financial Risk Management, 2) examine, analyze and prove the Asset Structure, Capital Structure, Macroeconomics of the Value of the Firm, 3) examine, analyze and prove Financial Risk Management to the Value of the Firm. The population and sample in this study were 16 syri’ah stock companies listed on the Jakarta Islamic Index, from 2013 to 2017, with keriteria and saturated sampling techniques. This type of research is quantitative research secondary data research data obtained by IDX (Indonesia stock exchange) webset. Data examining techniques using PLS test equipment.  The results show that the t-statistic: means: asset structure had no significant effect on financial risk management: means: asset structure had a significant effect on the value of the firm:  means: capital structure has a significant effect on financial risk management: means: capital structure has no significant effect on the value of the firm:  means: macro economic has a significant effect on financial risk management: giving the meaning of macro economic significantly influencing the value of the firm: giving the meaning of financial risk management having a significant effect on the value of the firm. Conclusions of the study 1) Asset structure has no effect and no significant effect on financial risk management, 2) Asset structure influences and significantly affects the value of the firm, 3) Capital structure influences and significantly affects financial risk management, 4) Capital structure has no effect and is insignificant on the value of the firm, 5) Macroeconomic influences and significantly on financial risk management, 6) Macroeconomics influential and significant on the value of the firm, 7) Financial risk management influences and significantly on the  value of the firm

scholarly journals Performance Analysis of Nigerian Brewery Industry

2018 ◽  
Vol 9 (1) ◽  
pp. 47 ◽  
Author(s):  
Lucas O. Elumah ◽  
Peter Shobayo
Keyword(s):  
Performance Analysis ◽  
Capital Structure ◽  
Financial Performance ◽  
Research Design ◽  
Financial Risk ◽  
Stock Exchange ◽  
Financial Ratios ◽  
Reasonable Amount ◽  
Ex Post ◽  
Ex Post Facto

This research attempted to assess the financial performance of the firms in the brewery industry using financial ratios. It adopted a descriptive ex-post facto research design by using brewery firms of the Nigeria Stock Exchange (NSE) from 2011-2015. The result suggests that the brewery industry is profitable and efficient in using its asset to generate profit and return it to its shareholders. Similarly, the industry financial risk is relatively low, and manager in the industry manage their stocks efficiently. This suggests that managers of firms should endeavor to reduce the amount of debt in their capital structure and manage a reasonable amount of debt in its capital structure since a high debt implies a high financial risk.

scholarly journals FINANCIAL INSTRUMENTS ON COMPANY VALUE IN COMPANIES LISTED IN JAKARTA ISLAMIC INDEX (JII)

2021 ◽  
Vol 1 (3) ◽  
pp. 265-274
Author(s):  
Solichah ◽  
Dwi Dewianawati ◽  
Erry Setiawan ◽  
Agus Sunaryo
Keyword(s):  
Risk Management ◽  
Capital Structure ◽  
Firm Value ◽  
Quantitative Research ◽  
Financial Risk ◽  
Stock Exchange ◽  
Secondary Data ◽  
Problem Formulation ◽  
Financial Risk Management ◽  
Company Value

Based on the background and problem formulation, the objective is to test, analyze and prove that asset structure, capital structure, macroeconomic, financial risk management, and profitability performance affect the firm value of companies listed in JII. Researchers determine the type of quantitative research. Descriptive data analysis technique, is a technique used to analyze data by describing or describing the data that has been collected. The data used by researchers is secondary data, the data in this study were obtained from the IDX website (Indonesian Stock Exchange). So the population used in this study found 16 companies. Jakarta Islamic Index. The results of the study 1) there is no influence of asset structure on financial risk management, 2) there is an influence of asset structure on profitability performance, 3) there is an influence of asset structure on the value of the firm, 4) there is an influence of capital structure on financial risk management, 5) there is the effect of capital structure on profitability performance, 6) there is no effect of capital structure on the value of the firm, 7) there is a macroeconomic influence on financial risk management, 8) there is a macroeconomic effect on profitability performance, 9) there is a macroeconomic influence on the value of the firm, 10) there is the influence of financial risk management on the profitability performance, 11) there is the influence of financial risk management on the value of the firm, 12) there is the influence of profitability performance on the value of the firm.

The Determinants of Derivatives Use: Evidence from Non-Financial Firms in Taiwan

2003 ◽  
Vol 06 (04) ◽  
pp. 473-500 ◽  
Author(s):  
Pei-Gi Shu ◽  
Hsuan-Chi Chen
Keyword(s):  
Financial Risk ◽  
Economies Of Scale ◽  
Stock Exchange ◽  
Electronic Industry ◽  
Debt Structure ◽  
Taiwan Stock Exchange ◽  
Financial Firms ◽  
Export Ratio ◽  
Total Debt

This paper examines the major determinants of a firm's derivatives use for companies listed in Taiwan Stock Exchange in the period from 1997 to 1999. The study finds that the proportion of derivatives use in Taiwan, ranging from 31% to 37%, is comparable to that of the US (35%), but less than that of New Zealand (53%). Firms' derivatives use in Taiwan asymmetrically focuses on currency/forwards derivatives. Industry breakdown illustrates that the electronic industry stands for the heavy user both in terms of number and amount. We show that the vital determinants of a firm's derivatives use are size, the ratio of long-term debt to total debt, the electronic industry dummy, and the export ratio. The fact that firms' derivatives use positively correlated with size and the long-term-debt-to-total-debt ratio implies the capability-willingness hypothesis: only large firms are affordable to engage in derivatives use due to the concern of economies of scale in establishing and maintaining expertise, and these firms demand more derivatives use when they face with high financial risk in debt structure.

The Effect of Managerial Ownership, Financial Performance, Corporate Competition on Stock Prices with Capital Structure as the Intervening Variable in the Coal Mining Companies Listed on the Indonesia Stock Exchange

2020 ◽  
Vol 2 (1) ◽  
pp. 24-33
Author(s):  
Yulia Afriani ◽  
Abdul Rakhman Laba ◽  
Andi Aswan
Keyword(s):  
Capital Structure ◽  
Financial Performance ◽  
Coal Mining ◽  
Stock Prices ◽  
Stock Exchange ◽  
Secondary Data ◽  
Sampling Technique ◽  
Managerial Ownership ◽  
Firm Competition ◽  
Mining Companies

This study aimed to find out the effect of managerial ownership, financial performance, corporate competition on stock prices with capital structure as the intervening variable in the coal mining companies listed on the Indonesia Stock Exchange. Managerial ownership variables by the shareholding presentation. Financial performance variables by Total Asset Turnover (TATO). Firm competition variable by Concentration Ratio (CR). Capital structure variables by Debt to Equity Ratio (DER). Stock prices variable by Price to Book Value (PBV). The population of this study was the coal mining companies listed on the IDX. This study used Purposive as the sampling technique. The data source was secondary data from financial statements published through the IDX official website. This study used descriptive statistics and inferential statistics with a quantitative approach using regression techniques with the E-Views version 10 program. The results of this study showed that the dealings of managerial ownership had a positive and significant effect on DER, TATO had a negative and not significant effect on DER, while CR had a negative and significant effect on DER. The dealings of managerial ownership, TATO, DER has a positive and significant effect on PBV, while CR has a negative and not significant. The dealings of managerial ownership influences PBV through DER, interestingly TATO has no effect on PBV through DER and CR influences PBV through DER

The Influence of Capital Structure, Growth, Company Size to Profitability and Company Value of Manufacture Firms Listed in Indonesia Stock Exchange

2019 ◽  
Vol 1 (3) ◽  
pp. 66-78
Author(s):  
Bernon Sampe Tondok ◽  
Cepi Pahlevi ◽  
Andi Aswan
Keyword(s):  
Capital Structure ◽  
Firm Size ◽  
Positive Impact ◽  
Stock Exchange ◽  
Company Size ◽  
Manufacturing Companies ◽  
Descriptive Research ◽  
Company Value ◽  
Quantitative Descriptive ◽  
Company Growth

This study examines the effect of capital structure, company growth, company size on profitability and company value the cases of manufacturing companies listed on the Indonesia Stock Exchange. This research is quantitative descriptive research using path analysis. Classical assumption evaluations are conducted comprising of normality, linearity, autocorrelation, multicollinearity, and heteroscedasticity test. The sample is 33 manufacturing companies listed on the Indonesia Stock Exchange from period 2013 – 2017. The results of the study found that there was a positive impact of capital structure, company growth, firm size on profitability and value of manufacturing companies.

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