Structure of local government budgets and local fiscal autonomy: Evidence from Indonesia

Musviyanti, Musviyanti; Khairin, Fibriyani Nur; Bone, Hariman; Syakura, Muhammad Abadan; Yudaruddin, Rizky

doi:10.21511/pmf.11(1).2022.07

Cited by 16 publications

(6 citation statements)

References 27 publications

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“…Larger firms typically have greater access to resources, economies of scale, and market power, which can have a positive effect on their financial performance and profitability (Dietrich and Wanzenried 2011;Lee et al 2016;andYudaruddin 2017, 2023a). Cash holding, or the amount of cash and cash equivalents held by a company, can have an effect on its performance (Musviyanti et al 2022). Cash reserves provide a buffer against unforeseen events, enhance a company's financial flexibility, and allow it to seize strategic opportunities.…”

Section: Methodsmentioning

confidence: 99%

The Effect of COVID-19 on Consumer Goods Sector Performance: The Role of Firm Characteristics

Irwansyah,

Rinaldi,

Yusuf

et al. 2023

JRFM

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This study investigates the impact of the COVID-19 pandemic on company performance in the consumer goods industry. Additionally, it explores how company characteristics influence the relationship between the pandemic and company performance based on industry type and region. Analyzing data from 1491 companies across 79 countries between 2018 and 2022, we utilized ordinary least squares (OLS) with robust standard errors. Our findings confirm the pandemic’s overall adverse effect on the performance of consumer goods companies. However, variations emerged when examining diverse industries and regions. Notably, larger companies, particularly in the Americas, Europe, and Asia–Pacific, demonstrated greater resilience and performance during the pandemic. Furthermore, effective leveraging, especially in the Americas and Asia–Pacific, contributed to supporting performance amid the pandemic. These results hold crucial policy implications for companies aiming to enhance their performance in the face of health crises.

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Section: Methodsmentioning

confidence: 99%

The Effect of COVID-19 on Consumer Goods Sector Performance: The Role of Firm Characteristics

Irwansyah,

Rinaldi,

Yusuf

et al. 2023

JRFM

Self Cite

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“…The control variables used include industrial structure (INDS), population growth (POGR), and crisis (CRIS). The industry sector, including construction (INDS), has a significant impact on greenhouse gas emissions, which can be both positive and negative (Mahmoudi et al, 2021;Wei et al, 2007;Lin and Xie, 2014;Gao et al, 2022;Lestari et al, 2022;Amalia et al, 2022;Musviyanti et al, 2022). On the positive side, industrial growth contributes to economic development, job creation, and improved living standards.…”

Section: Methodsmentioning

confidence: 99%

Impact of Financial Development on Greenhouse Gas Emissions in Indonesia: A Comprehensive Analysis (2000-2019)

Yudaruddin,

Hafsari,

Suharsono

et al. 2023

IJEEP

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This study aims to comprehensively analyze the impact of financial development on greenhouse gas emissions in Indonesia during the period from 2000 to 2019. Using ordinary least squares with robust standard errors, the study revealed a positive and significant relationship between financial development and total greenhouse gas emissions. The study revealed a positive and significant relationship between financial development and total greenhouse gas emissions by employing utilizing a comprehensive financial development index. The findings indicate that higher levels of financial development by employing utilizing a comprehensive financial development index led to increased greenhouse gas emissions. Moreover, sector-specific analyses demonstrated that financial development significantly and positively influences emissions across various sectors, including the energy sector, agriculture, forest, and other land uses, peatland fires, and waste. However, intriguingly, financial development was found to have a significant and negative impact on greenhouse gas emissions in the industrial processes and product use sector, suggesting its role in promoting sustainable practices and contributing to emissions reduction in this specific domain.

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“…This is because they want to avoid the increased financial risks associated with high debt levels. Therefore, in many cases, larger companies may lean toward having a lower level of debt in their capital structure (Alrwashdeh et al 2023;Faturohman and Noviandy 2022;Musviyanti et al 2022;Nguyen et al 2023;Prakash et al 2023;Vo et al 2022;Yudaruddin 2020).…”

Section: Methodsmentioning

confidence: 99%

A Global Analysis of the COVID-19 Pandemic and Capital Structure in the Consumer Goods Sector

Deviyanti,

Ramadhani,

Ginting

et al. 2023

JRFM

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Understanding a company’s capital structure is essential for optimizing financial resources amid the challenges posed by the COVID-19 pandemic. This research examines how the pandemic affected the capital structures of global consumer goods companies across industries, market types, and regions. In this study, a fixed effects model was employed to analyze panel-data regression data spanning from 2018 to 2022, encompassing 1491 companies across 80 countries. The results revealed a significant and positive impact of COVID-19 on capital structure in the initial two years, contrasting with a negative trend in the third year, notably in the short-term debt to total assets ratio. The pandemic’s influence on the capital structure varied across sectors, markets, and regions, starting with a consistent positive impact before shifting to a negative and significant effect. The study provides valuable insights for businesses, policymakers, and researchers grappling with the financial implications of external shocks like the pandemic. It underscores the importance of prudent financial decision-making, leveraging the opportunities stemming from a conservative debt approach, and the growing reliance on short-term debt while staying adaptable in response to evolving market dynamics and economic changes.

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Structure of local government budgets and local fiscal autonomy: Evidence from Indonesia

Cited by 16 publications

References 27 publications

The Effect of COVID-19 on Consumer Goods Sector Performance: The Role of Firm Characteristics

The Effect of COVID-19 on Consumer Goods Sector Performance: The Role of Firm Characteristics

Impact of Financial Development on Greenhouse Gas Emissions in Indonesia: A Comprehensive Analysis (2000-2019)

A Global Analysis of the COVID-19 Pandemic and Capital Structure in the Consumer Goods Sector

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