Determinant of Capital Structure : Coal and Non Coal Mining Industry on the Indonesia Stock Exchange

Pramitasari, Triska Dewi

doi:10.37932/j.e.v11i1.177

Cited by 3 publications

(3 citation statements)

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“…Thus, H1.3 is accepted, which means capital structure mediates the effect of dividend policy on firm value. Pramitasari (2021) stated that when there is high amount of dividend distributed to the shareholders, the shareholders will respond positively and invest more funds into the firm. This condition makes it easier for the firm to use more equity financing through the issuance of shares rather than debt financing.…”

Section: Research Resultsmentioning

confidence: 99%

Factors affecting Firm Value with Capital Structure as Intervening Variable

Ismantara

Handojo

2022

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The objective of this research is to obtain the empirical evidence regarding the effect of dividend policy, firm size, profitability, liquidity, firm growth, managerial ownership, institutional ownership, board of directors, board of commissioners and cash holding towards firm value mediated by capital structure to the effect of dividend policy, firm size and profitability on firm value. The population in this research is non-financial firms listed in Indonesia Stock Exchange from the year of 2018 to 2020. Samples were obtained through purposive sampling method in which 189 data were taken as the sample. This research uses multiple regression method and path analysis to test the hypotheses. The results of this research indicated that profitability, firm growth, institutional ownership, board of directors and capital structure affect firm value, while dividend policy, firm size, liquidity, managerial ownership, board of commissioners and cash holding do not affect firm value. Meanwhile, firm size and profitability affect capital structure, while dividend policy does not affect capital structure. This research also indicated that capital structure mediates the effect of dividend policy and firm size on firm value but does not mediate the effect of profitability on firm value.

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Section: Research Resultsmentioning

confidence: 99%

Factors affecting Firm Value with Capital Structure as Intervening Variable

Ismantara

Handojo

2022

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“…The larger the size of the company, the more outstanding the debt used by the company; conversely, the smaller the company's size, the smaller the debt used. According to research by penelitian Mirnawati et al (2022), Lim (2012) and Pramitasari (2021) said that company size has a positive effect on leverage. However, it is different from the research of Onofrei et al (2015) and Milansari et al (2020), which says that company size has a negative effect on leverage.…”

Section: Conceptual Framework Previous Research Bymentioning

confidence: 99%

Determinants Capital Structure of Small and Medium Enterprises in Indonesia

Hailla,¹,

Leon²

2022

IJSSHR

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This research aims to analyze the determinants of capital structure. The independent variables in this study are corporate taxes, company size, tangible assets, corporate risk, profitability, non-debt tax protection, and liquidity. While the dependent variable is short-term debt, long-term debt, and total debt. The sample of this study uses 61 Small and Medium Enterprises companies listed on the Pefindo Index for the period of 2019-2021. The sampling technique uses purposive sampling and the analysis method uses panel data regression. The results explained that corporate taxes, tangible assets, and non-debt tax shields do not affect capital structure. Company size does not affect short-term debt and total debt. However, it has a significant negative effect on long-term debt. Company risk and liquidity significantly negatively affect short-term debt and total debt. However, it does not affect long-term debt. Profitability has a significant positive effect on short-term debt and a significant negative effect on long-term debt. The implication of the research that has been done is to provide direction for financial managers regarding the optimal use of capital structure to achieve the company's goal of increasing the welfare of shareholders. As for investors, investors should choose companies that have high company size, low risk, and high liquidity.

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“…Some researchers have chosen to look at a sample of data from 3,500 SMEs in the UK, and ultimately, profitability, which is a proxy for firm performance, is independent of long-term gearing, which is a proxy for capital [ 7 – 10 ]. Some researchers put forward the priority financing theory based on the higher capital cost of equity financing than debt financing, but the large increase in debt scale is due to the internal capital of the company, and we think this is because we cannot meet the demand [ 11 – 15 ].…”

Section: Introductionmentioning

confidence: 99%

The Impact of Corporate Capital Structure on Financial Performance Based on Convolutional Neural Network

Luo

Jiang

2022

Computational Intelligence and Neuroscience

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Capital structure is an important indicator to measure the source, composition, and proportion of a company’s equity and debit capital. It is not only related to the internal operating environment of listed companies but also related to the rights and obligations of shareholders and is closely related to the company’s future development direction, decision-making bodies, and changes in governance structure. This study aims to study the impact of corporate capital structure on financial performance based on convolutional neural network. Based on the relevant theories of capital structure, by constructing a convolutional neural network model, taking a listed company as the research object, this study analyzes the company’s capital structure, liabilities, and other financial conditions. Finally, it is concluded that short-term liabilities can meet the company’s sustainable development and enhance the competitiveness of the industry, thereby increasing the company’s operating income. However, a poor capital structure can negatively impact a company’s finances. By improving the corporate governance structure of listed companies, strengthening the adjustment of the financing structure of listed companies, and strengthening the management of listed company’s operating risks, the company’s capital structure can be improved so that the company’s financial situation can be sustainable and healthy.

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Determinant of Capital Structure : Coal and Non Coal Mining Industry on the Indonesia Stock Exchange

Cited by 3 publications

References 0 publications

Factors affecting Firm Value with Capital Structure as Intervening Variable

Factors affecting Firm Value with Capital Structure as Intervening Variable

Determinants Capital Structure of Small and Medium Enterprises in Indonesia

The Impact of Corporate Capital Structure on Financial Performance Based on Convolutional Neural Network

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