Capital Structure Efficiency Research Articles

FAKTOR – FAKTOR YANG MEMENGARUHI FINANCIAL PERFORMANCE PADA PERUSAHAAN MANUFAKTUR DI INDONESIA

The purpose of this study was to obtain empirical evidence regarding the effect of independent variables which are human capital efficiency, structural capital efficiency, capital employed efficiency, firm size, and capital structure on the dependent variable, financial performance in manufacturing companies in Indonesia. The sample on this study is limited on manufacturing companies listed on the Indonesia Stock Exchange during the year 2017-2020. This study uses purposive sampling method to collect data and EViews 12 for data processing. The results of this study conclude that human capital efficiency and capital employed efficiency have a positive influence on financial performance, while structural capital efficiency, firm size, and capital structure efficiency have no effect on financial performance.

PENGARUH STRUKTUR KEPEMILIKAN TERHADAP NILAI PERUSAHAAN DENGAN EFISIENSI STRUKTUR MODAL SEBAGAI VARIABEL MEDIASI

This study aims to examine the influence of ownership structure on firm value mediated by efficiency capital structure. This research uses pecking order theory, agency theory, and stakeholder theory. The population used in this study are all companies listed on the Indonesia Stock Exchange (IDX) with the research period of 2016-2018. The method of determining the sample using non-random sampling i.e purposive sampling and uses secondary data in the form of annual reports and financial statements of the company. The analytical method used are path analysis and sobel test. The results showed that the efficiency of capital structure can fully mediate the effect of ownership structure on firm value.

A Study on Efficiency of Capital Structure”: Evidence from Bajaj Auto Limited

A Study on Efficiency of Capital Structure”: Evidence from Bajaj Auto Limited

The Effect of Intellectual Capital, Firm Size and Capital Structure on Firm Performance, Evidence from Property Companies in Indonesia

The purpose of this study is to examine the effect of Intellectual Capital (represented by Human Capital Efficiency (VAHU), Physical Capital Efficiency (VACA), Capital Structure Efficiency (SCVA)), Company Size and Capital Structure on Company Performance (measured with ROA). The research sample is property sector manufacturing companies listed on the Indonesia Stock Exchange between 2013 and 2017, with a purposive sampling method and analysis with multiple regression using SPSS version 2.0. The results of the study show that: 1) VAHU and VACA have no significant effect on Company Performance, but SCVA has, 2) Company size has no significant effect on Company Performance, but 3) Capital Structure has. All of these variables together have a significant effect on Company Performance.

Capital Structure Efficiency, Information Quality, and Accounting Biases

In this paper, we investigate the effect of accounting biases on firms' financing decisions and the role of accounting biases in endogenous information quality. We show that in industries with generally low-profit prospects, a downward-biased accounting system performs better than a neutral accounting system, and a more downward bias helps mitigate both investment and financing inefficiency; while for industries with generally high-profit prospects, an upward-biased accounting system is better than a neutral accounting system, and a more upward bias helps improve financing efficiency. In addition, we find that a more downward-biased accounting system motivates good firms to exert more effort to improve the information quality, which improves overall efficiency.