Co-determination of Capital Structure and Profitability: An Empirical Test of Indonesia Stock Exchange

Teddy Chandra; Stefani Chandra; Evelyn Wijaya; Jenifer Chandra; Martha Ng

doi:10.7232/iems.2020.19.3.561

추천

검색

질문

자료유형: 학술저널

저자정보: Teddy Chandra (Pelita Indonesia Institute of Business and Technology) Stefani Chandra (Pelita Indonesia Institute of Business and Technology) Evelyn Wijaya (Pelita Indonesia Institute of Business and Technology) Jenifer Chandra (Pelita Indonesia Institute of Business and Technology) Martha Ng (Pelita Indonesia Institute of Business and Technology)

저널정보: 대한산업공학회 Industrial Engineering & Management Systems Industrial Engineering & Management Systems Vol.19 No.3

발행연도: 2020.9

수록면: 561 - 575 (15page)

DOI: 10.7232/iems.2020.19.3.561

이용수

📌

연구주제

📖

연구배경

🔬

연구방법

🏆

연구결과

초록· 키워드

오류제보하기

This research aims to analyze the determinant of capital structure and profitability. Besides, it will also be tested to know whether there is a reciprocal relationship between this capital structure and profitability or not. The object of this research is using the registered manufacture company on the Indonesian Stock Exchange. The number of companies pointed as the samples in this research is 115 companies. The observation period is between 2012 – 2018 or for about 7 years so that the analysis units of this research are 805. The analysis tool used in this research is the Structural Equation Modeling by using generalized structural component analysis. It creates the results of Nondebt tax shield, effective tax rate, financial flexibility, liquidity; growth, uniqueness, assets utilization, firm size, tangibility, volatility, and profitability have an impact on the capital structure. It is known that only a firm age that doesn’t have any significant impacts on the capital structure. Liquidity, growth, firm age, uniqueness, firm size, tangibility, volatility, advertising, assets turnover, and capital affect profitability. Besides that, capital structure and profitability have a significant reciprocal relationship.

#Capital Structure #Profitability #Structural Equation Modeling #Generalized Structural Component Analysis(GeSCA)

참고문헌 (46)

참고문헌 신청

Joshua Abor / 2005 / The effect of capital structure on profitability: an empirical analysis of listed firms in Ghana / The Journal of Risk Finance 6(5):438~445

Acaravci, S. K. / 2015 / The determinants of capital structure : Evidence from the Turkish manufacturing sector / International Journal of Economics and Financial Issues 5(1):158~171

Adewale, M. T. / 2013 / Does capital structure enhance firm performance? Evidence from Nigeria / The IUP Journal of Bank Management 12(4):43~55

Nadeem Ahmed Sheikh / 2011 / Determinants of capital structure: An empirical study of firms in manufacturing industry of Pakistan / Managerial Finance 37(2):117~133

Nadeem Ahmed Sheikh / 2013 / The impact of capital structure on performance: An empirical study of non-financial listed firms in Pakistan / International Journal of Commerce and Management 23(4):354~368

함께 읽어보면 좋을 논문

논문 유사도에 따라 DBpia 가 추천하는 논문입니다. 함께 보면 좋을 연관 논문을 확인해보세요!