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ANALISIS PENGARUH STRUKTUR MODAL TERHADAP KINERJA KEUANGAN PERUSAHAAN

Jurnal Keuangan dan Perbankan: Volume 20, Nomer 1, Januari 2016
Journal from JIPTUNMERPP / 2017-10-02 09:30:28
Oleh : Achmad Komara ; Sri Hartoyo ; Trias Andati, Diploma 3 of Banking and Finance Merdeka University Malang
Dibuat : 2016-01-01, dengan file

Keyword : Capital structure, financial performance, finance company, panel data regression analysis
Url : http://drive.google.com/file/d/0B0uNqoBLtJGvYWU0QXJ3SDVmRDQ/view?usp=sharing

At this time, business growth requires proper company’s financial strategy, especially by managing the capital structure to meet funding need of business operations. This research describes the impact of capital structure on financial performance of finance company listed on the Indonesia Stock Exchange during the years 2009-2013. The dependent variable in this study is financial performance composed of return on assets ratio (ROA),return on equity ratio (ROE) and price-to-earnings ratio (PER).While the independent variable in the form of capital structure is the ratio of debt to total assets (DAR) and the ratio of debt to total equity (DER). The result of panel data regression analysis showed that the capital structure has negative significant effect on financial performance of ROA and ROE, but has positive significant effect on PER. Based on these results, the finance companies should apply the precautionary principle in managing capital resources coming from debt financing, because the increased component of excessive debt in the capital structure of the company could lead to an increase in the financial burden that affects the reduction in company’s profit.

Deskripsi Alternatif :

At this time, business growth requires proper company’s financial strategy, especially by managing the capital structure to meet funding need of business operations. This research describes the impact of capital structure on financial performance of finance company listed on the Indonesia Stock Exchange during the years 2009-2013. The dependent variable in this study is financial performance composed of return on assets ratio (ROA),return on equity ratio (ROE) and price-to-earnings ratio (PER).While the independent variable in the form of capital structure is the ratio of debt to total assets (DAR) and the ratio of debt to total equity (DER). The result of panel data regression analysis showed that the capital structure has negative significant effect on financial performance of ROA and ROE, but has positive significant effect on PER. Based on these results, the finance companies should apply the precautionary principle in managing capital resources coming from debt financing, because the increased component of excessive debt in the capital structure of the company could lead to an increase in the financial burden that affects the reduction in company’s profit.

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PropertiNilai Properti
ID PublisherJIPTUNMERPP
OrganisasiD
Nama KontakDra. Wiwik Supriyanti, SS
AlamatJl. Terusan Halimun 11 B
KotaMalang
DaerahJawa Timur
NegaraIndonesia
Telepon0341-563504
Fax0341-563504
E-mail Administratorperpus@unmer.ac.id
E-mail CKOwsupriyanti@yahoo.com

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  • Editor: Wiwik Supriyanti, Dra. SS.