Determinan Struktur Modal Dan Nilai Perusahaan Pertambangan Pasca Uu Nomor 4 Tahun 2009

Sumani, Sumani

doi:10.24034/j25485024.y2015.v19.i1.1754

Cited by 4 publications

(10 citation statements)

References 22 publications

(26 reference statements)

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“…So high managerial ownership leads managers to make decisions to use low debt costs. This statement is in accordance with the research by Hasan and Butt (2009) and Sumani (2012) which states that the higher the managerial ownership, the lower the capital structure level. H1: Managerial ownership has a significant negative effect on capital structure.…”

Section: Hypotheses Developmentsupporting

confidence: 91%

“…According to Hasan and Butt (2009), managerial ownership has negative effect against the capital structure, the big amount of debt increases bankruptcy risk so that high managerial ownership causes the managers to reduce the level of debt. The study is in line with Sumani (2012) which found a significant negative effect on the relationship between managerial ownership against the capital structure. It means that high managerial ownership will reduce the amount of debt used by the company.…”

Section: Introductionsupporting

confidence: 87%

See 1 more Smart Citation

The Effect of Ownership Structure, Profitability, Firm Size and Tangibility on Capital Structure

Iswarini¹,

Ardiansari²

2018

MAJ

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The important decision faced by financial management which relates to the continuity of company operations is funding decision which is capital structure. Capital structure achieves optimal value if the composition of debt and capital are able to increase company value. The purpose of this research is to examine the effect of ownership structure, profitability, firm size, and tangibility against capital structure (research on manufacturing companies listed on Indonesia Stock Exchange period 2012-2016). The population in this research were all manufacturing companies listed on the Indonesia Stock Exchange 2012-2016. This research used purposive sampling method with certain criteria to determine the sample. The sample used was 38 companies with the research period 2012-2016 at manufacturing companies listed on the Indonesia Stock Exchange. Multiple regression analysis using Eviews 8 was used to analyze the data. The result of multiple linear regression test showed that there were three independent variables that affect capital structure they were managerial ownership, firm size and tangibility. Whereas institutional ownership and profitability did not affect the capital structure of manufacturing companies in 2012-2016. The conclusion of this research is managerial ownership, firm size and tangibility have positive and significant effect on capital structure, while institutional ownership and profitability have negative and insignificant effect on capital structure.

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Section: Hypotheses Developmentsupporting

confidence: 91%

Section: Introductionsupporting

confidence: 87%

The Effect of Ownership Structure, Profitability, Firm Size and Tangibility on Capital Structure

Iswarini¹,

Ardiansari²

2018

MAJ

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“…Higher profitability can also be a signal regarding the potential decline in the use of external funds. This is supported by the research of Santika and Sudiyatno (2011), Murhadi (2011), Sari et al (2013), Chen et al (2013), Gomez et al (2014) Chadha andSharma (2015), Sumani (2015), Chipeta and Deressa (2015), Sofat and Singh (2016), Nur and Siahaan (2016), who found that the greater the profitability of the company, the less likely the company is to borrow debt. Profitability is measured by using the ratio of net income to total assets (ROA).…”

mentioning

confidence: 75%

“…So the amount of debt owned must be optimal so that the value of the company does not decrease. Mahendra et al (2012), Sari et al (2013), Hermuningsih (2013, Sumani (2015), Nguyen (2015), Osazuwa and Che-Ahmad (2015), Mangondu and Diantimala (2016), Ho and Ellis (2017), Anggriawan et al (2017), and Ibhagui and Olokoyo (2018) also find that an increased capital structure will decrease firm value, so the hypothesis is formulated as follows: Ha6: Capital structure has a negative effect on firm value.…”

mentioning

confidence: 99%

Determinan Struktur Modal Dan Nilai Perusahaan Manufaktur Di Bursa Efek Indonesia

Yunita¹,

Robiyanto²

2021

JMBK

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Penelitian ini menguji pengaruh faktor internal perusahaan seperti profitabilitas, ukuran perusahaan, risiko bisnis, tingkat pertumbuhan perusahaan serta faktor eksternal perusahaan yaitu risiko pasar terhadap struktur modal perusahaan sebagai variabel intervening yang mempengaruhi nilai perusahaan. Penelitian ini dilakukan terhadap perusahaan manufaktur tercatat di Bursa Efek Indonesia dalam periode waktu penelitian tahun 2013 hingga 2018 dan sampel berjumlah 82 perusahaan. Penelitian ini menemukan bahwa faktor profitabilitas dan ukuran perusahaan memiliki pengaruh signifikan terhadap struktur modal perusahaan, tetapi risiko bisnis, tingkat pertumbuhan dan risiko pasar tidak memiliki pengaruh signifikan terhadap struktur modal. Kemudian struktur modal memiliki pengaruh signifikan terhadap nilai perusahaan.

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“…Perusahaan besar akan lebih mudah untuk memperoleh dana dari pasar modal. Hasil penelitian ini mendukung temuan penelitian Chandra (2017), Lim (2012), Sumani (2015). Namun, temuan penelitian tidak mendukung temuan penelitian Fachrudin (2013), Hardiyanto (2013), Acaravci (2015).…”

Section: Pengaruh Profitabilitas Terhadap Struktur Modalunclassified

Identifikasi Struktur Modal Melalui Profitabilitas, Pertumbuhan Penjualan dan Ukuran Perusahaan

Chandrarin

Cahyaningsih

2018

AFRE

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This study aims to analyze the effect of profitability, sales growth and firm size on capital structure. The population of this research is basic industrial and chemical company which go public in Bursa Efek Indonesia. The observations are conducted in 2013-2016. The data source is taken from Indonesian Capital Directory Market (ICMD). Sampling technique used with purposive sampling. The sample size is 19 companies with 4 years observation period, so there are 76 observation data. Management in determining the source of financing will consider the cost or risk with a refund. In theory pecking order manajamen will expose the source of internal funding, external in the form of debt, then the issuance of shares. Profitability of the company during the year 2013-2016 shows positive. Sales increase except in 2015, where sales growth is negative. Company assets show an increase every year. Data analysis techniques use multiple linear regression. The results show that profitability and sales growth affect the capital structure. The size of the firm has no effect on the capital structure. The results support pecking order theory.

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Determinan Struktur Modal Dan Nilai Perusahaan Pertambangan Pasca Uu Nomor 4 Tahun 2009

Cited by 4 publications

References 22 publications

The Effect of Ownership Structure, Profitability, Firm Size and Tangibility on Capital Structure

The Effect of Ownership Structure, Profitability, Firm Size and Tangibility on Capital Structure

Determinan Struktur Modal Dan Nilai Perusahaan Manufaktur Di Bursa Efek Indonesia

Identifikasi Struktur Modal Melalui Profitabilitas, Pertumbuhan Penjualan dan Ukuran Perusahaan

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