scholarly journals Effect of Business Risk, Company Size, and Asset Structure on Capital Structure with Profitability as an Intervening Variable (Case Study on Manufacturing Companies on the Indonesia Stock Exchange)

2021 ◽  
Vol 8 (8) ◽  
pp. 284-289
Author(s):  
Robby Rahadi Putra ◽  
Maya Sari ◽  
Widia Astuty
Keyword(s):  
Capital Structure ◽  
Structural Equation ◽  
Stock Exchange ◽  
Equation Model ◽  
Partial Least Square ◽  
Least Square ◽  
Company Size ◽  
Manufacturing Companies ◽  
Business Risk

The purpose of this study was to determine and analyze the effect of business risk, company size, and asset structure on capital structure with profitability as an intervening variable (case study on Manufacturing Companies on the Indonesia Stock Exchange). The population in this study are all Manufacturing Companies listed on the Indonesia Stock Exchange for the 2015-2019 period. Based on the purposive sampling method, 71 companies were obtained as samples. The data analysis technique used the partial least square (PLS) approach. PLS is a component-based or variant-based structural equation model (SEM). The results of the analysis show that business risk, company size, and asset structure have a significant effect on profitability. Business risk, company size and asset structure have a significant effect on capital structure. Profitability has no significant effect on capital structure. Profitability cannot mediate the effect of business risk, company size, and asset structure on capital structure. Keywords: Business Risk, Company Size, Asset Structure, Capital Structure, Profitability.

Pengaruh Profitabilitas ,Pertumbuhan Perusahaan ,Struktur Kepemilikan , Dan Ukuran Perusahaan Terhadap Struktur Modal Dan Nilai Perusahaan (Studi Pada Perusahaan Manufaktur Di Bursa Efek Indonesia)

2018 ◽  
Vol 2 (2) ◽  
Author(s):  
Sabrin Sabrin Sabrin
Keyword(s):  
Capital Structure ◽  
Firm Size ◽  
Ownership Structure ◽  
Firm Value ◽  
Structural Equation ◽  
Stock Exchange ◽  
Partial Least Square ◽  
Least Square ◽  
Manufacturing Companies ◽  
Company Growth

This study aims to examine and examine the effect of profitability, company growth, ownership structure and firm size on firm value through capital structure as a mediation variable on manufacturing companies In Indonesia Stock Exchange. The analysis model used is the model of structural equation and analytical tool using Smart Partial Least Square (PLS). The number of companies studied are 17 companieswith observation year during 2009-2014. Research sampling with purposive sampling method based on the criteria of manufacturing companies listed in Indonesia Stock Exchange during the observation period, 2009-2014, has paid cash dividend, has complete data about Debt to Equity Ratio (DER), Dividend per share the previous year, Return on Equity (ROE), Rate of Return on Assets (ROA), Earning Per Share (EPS), has been audited by a public accountant with an unqualified auditor's opinion, publishes consecutive financial statements, and has positive equity, Observation of 17emittenwith 102 observation periods.The results in found that profitability, company growth, firm size, and capital structure have an effect on firm value, but the ownership structure has no effect on firm value. The ownership structure affects the capital structure but profitability, company growth, and firm size have no effect on capital structure. Furthermore, there is found mediation of capital structure on indirect influence of company growth, ownership structure, and firm size to firm value, but there is no mediation of capital structure on indirect effect of profitability to firm value. The findings of this study support Signaling Theory, Packing Order Theory, Agency Theory, and Static trade-off theory.Keywords: Profitability, Growth Company, Ownership Structure, Firm Size, Capital Structure, Firm Value, Manufacturing company, Capital Market.

scholarly journals Pengaruh Profitabilitas, Tingkat Pertumbuhan Aktiva, Leverage Operasi, Stabilitas Penjualan terhadap Struktur Modal dan Nilai Perusahaan

IQTISHODUNA ◽  
2020 ◽  
Vol 16 (1) ◽  
pp. 17-38
Author(s):  
Kety Lulu Agustin ◽  
Ubud Salim ◽  
Andarwati Andarwati
Keyword(s):  
Capital Structure ◽  
Firm Value ◽  
Stock Exchange ◽  
Partial Least Square ◽  
Least Square ◽  
Manufacturing Companies ◽  
Company Value ◽  
Asset Growth ◽  
Operating Leverage ◽  
The Capital Structure

The purpose of this research is to determine the effect of profitability, asset growth, operating leverage and sales stability on the capital structure and firm value. The company value in this study was published with Tobin Q. The population of this study were all manufacturing companies reported on the Indonesia Stock Exchange for the period 2015-2017. In accordance with the selection criteria, there are 46 filtered sample companies. The analysis technique that used is Partial Least Square (PLS).  The results of hypothesis indicate profitability and sales that are significant to the capital structure while increasing performance and leverage of operations do not have a significant effect on capital structure. Profitability, asset growth, sales stability have a significant effect on firm value while operating leverage does not involve significance to firm value. Profitability and influence of sales have a significant effect on firm value through capital structure, while yield growth and operating leverage are opposite.

scholarly journals The Role of Related Party Transaction and Earning Management in Reducing Tax Aggressiveness

2019 ◽  
Vol 4 (3) ◽  
pp. 134-145
Author(s):  
Masna Ellyani ◽  
Ataina Hudayati
Keyword(s):  
Structural Equation ◽  
Stock Exchange ◽  
Equation Model ◽  
Partial Least Square ◽  
Least Square ◽  
Earning Management ◽  
Positive Role ◽  
Tax Aggressiveness ◽  
The Relationship

This study aimed to examine the influence of related party transactions (RPT) on tax aggressiveness by using earning management as an intervening variable. This study was performed based on the perception that RPT is a positive practice and it is predicted to decrease tax aggressiveness. Besides aiming to find empirical evidence of positive role of RPT in the field of taxation, this study also aimed to test the positive role of earning management in reducing tax aggressiveness. The population of this study was 47 of manufacturing company registered on the Indonesia Stock Exchange for the period of 2014-2016 having transactions with related party (RPT). The analysis method of this study was structural equation model using Partial Least Square (PLS) software. This findings supported the hypothesis that RPT and earning management negatively affects tax aggressiveness. The results of the study also showed that earning management mediate the relationship between RPT and tax aggressiveness.Keywords: RPT, tax aggressiveness, earning management 

scholarly journals Faktor-Faktor Yang Mempengaruhi Struktur Modal Perusahaan Manufaktur Di BEI Periode 2015-2017

2019 ◽  
Vol 24 (1) ◽  
pp. 129
Author(s):  
Lukman Surjadi, Viviana
Keyword(s):  
Capital Structure ◽  
Stock Exchange ◽  
Company Size ◽  
Manufacturing Companies ◽  
Business Risk ◽  
Significant Negative Effect ◽  
Negative Effect

Thisistudy aims to examine the effect of company size, profitability, and business risk on capital structure in listed manufacturing companies in Indonesian Stock Exchange period 2015-2017. This study use 24 manufacturing companies as sample in this study and also use multipleiregression analysis.iThe results of this study indicate that company size has a significant positive effectnon capitalustructure while profitability and business risk has a not significant negative effect on capital structure.

The Effect Of Dividend Policy, Company Growth, And Business Risk On Company Value With Capital Structure As Intervening Variable

2019 ◽  
Vol 1 (2) ◽  
pp. 33-46
Author(s):  
Anggit Esti Irawati ◽  
Theresia Trisanti ◽  
Sulastri Handayani
Keyword(s):  
Capital Structure ◽  
Dividend Policy ◽  
Sampling Technique ◽  
Partial Least Square ◽  
Least Square ◽  
Manufacturing Companies ◽  
Business Risk ◽  
Statistical Tool ◽  
The Capital Structure ◽  
Value Growth

This study aims to provide empirical evidence about the influence of dividend policy, growth company, and business risk to the company’s value with the capital structure as the mediating variable. The population of this study are manufacturing companies listed on Indonesia Stock Exchange (BEI) for years 2012-2016. The sampling technique using purposive sampling method. Total sample according to criterionthat is 265 and the statistical tool used Partial Least Square (PLS) with WarpPLS 5.0. Independent variables of this study are dividend policy, growth company which proxied with sales growth, and business risk. Dependent variable of this study is company’s value proxied with Tobin’s Q, while the intervening variable of this study is capital structure. The result of this study proves that dividend policy gives the positive and significant effect to company’s value, growth company gives negative and not significant effect to company’s value, business risk gives positive effect and significant to company’s value. Growth company has no significant effect on company’s value if it is not mediated by the capital structure. Capital structure capable of mediating influence dividend policy, growth company, and business risk of company’s value.

scholarly journals PENGARUH KUALITAS PELAYANAN TERHADAP LOYALITAS NASABAH DENGAN KEPUASAN NASABAH SEBAGAI VARIABEL INTERVENING (PT BANK RAKYAT INDONESIA PERSERO TBK CABANG BANJARMASIN SAMUDERA)

2021 ◽  
Vol 10 (2) ◽  
pp. 24
Author(s):  
Nadia Mauliditta Septiana ◽  
Dwi Wahyu Artiningsih ◽  
Hairudinor Hairudinor
Keyword(s):  
Customer Satisfaction ◽  
Service Quality ◽  
Structural Equation Model ◽  
Customer Loyalty ◽  
Structural Equation ◽  
Hypothesis Test ◽  
Equation Model ◽  
Partial Least Square ◽  
Least Square

The purpose of this study is to analyze the Effect of Service Quality on Customer Loyalty with Customer Satisfaction (Case Study of PT Bank Rakyat Indonesia Persero Tbk Banjarmasin Samudera Branch. The type used in this research is explanatory research because this research explains the causal relationship between research variables through the hypothesis test that has been formulated previously. The analytical method uses Structural Equation Model (SEM) with Partial Least Square (PLS) Program. The results of this study prove that Service Quality has no effect on Customer Satisfaction at BRI Bank Prince Samudera Banjarmasin Branch, while Customer Satisfaction has a positive and significant effect on Customer Loyalty. And Service Quality has a positive and significant effect on Customer Loyalty.The results of this study prove that Service Quality has no effect on Customer Satisfaction at BRI Bank Prince Samudera Banjarmasin Branch, while Customer Satisfaction has a positive and significant effect on Customer Loyalty. And Service Quality has a positive and significant effect on Customer Loyalty.Keywords: Service Quality, Customer Loyalty, and Customer Satisfaction

scholarly journals Socially Inclined Engagement and Its Effect on CSR Perception Observed in Manufacturing Companies

2020 ◽  
Vol 8 (5) ◽  
pp. 3244-3251
Keyword(s):  
Employee Engagement ◽  
Structural Equation ◽  
Manufacturing Industry ◽  
Positive Association ◽  
Equation Model ◽  
Partial Least Square ◽  
Least Square ◽  
Manufacturing Companies ◽  
Positive Perception ◽  
High Level

The manufacturing industry majorly constitutes electrical, electronics, telecommunication, mechanical engineering, and textile companies. This sector provides more employment for the skilled level employee than that of service and information technology sectors. Besides, the manufacturing industry significantly contributes to the economy. Hence, the employees working in such companies are expected to be engaged with the goals of the company. A high level of engagement leads to productivity. This study aims to understand the level of socially inclined employee engagement and its impact on the perceived image of the company’s CSR activities. The study uses Partial Least Square – Structural Equation Model (PLS-SEM) to determine the association between employee engagement and CSR activity. The results indicate that there exists a positive association between engagement level and positive perception of CSR activity. The instrument to measure this association is developed and supported with the evidence from reliability tests and validity test

scholarly journals Pengaruh dari Risiko Operasional pada Profitabilitas Perusahaan Asuransi yang Tercatat di Bursa Efek Indonesia periode 2009-2019

2021 ◽  
Vol 7 (3) ◽  
Author(s):  
Ahmad Mujaddid Ahwali ◽  
Grace Meintha Carolina Sinulingga ◽  
Philipus Susanto ◽  
Rizky A. Sijabat ◽  
Dewi Hanggraeni
Keyword(s):  
Factor Analysis ◽  
Capital Structure ◽  
Path Analysis ◽  
Structural Equation Model ◽  
Structural Equation ◽  
Stock Exchange ◽  
Operational Risk ◽  
Equation Model ◽  
Least Square ◽  
Insurance Companies

This study analyzes and examines the influence of capital structure and operational risk on profitability of insurance companies listed in Indonesia Stock Exchange. The method used in this research is quantitative method using Generalized Least Square and Structural Equation Model which implicate factor-analysis and path analysis. This research sample consists of 8 insurance companies listed on Indonesia Stock Exchange from 2009-2019. The study leads to three findings. First, capital structure has negative and significant influence on profitability in insurance companies. Second, capital structure has positive and significance on operational risk. Third, operational risk has profitability and insignificant influence on profitability.AbstrakPenelitian ini menganalisis dan menguji pengaruh struktur modal dan risiko operasional terhadap profitabilitas perusahaan asuransi yang tercatat di Bursa Efek Indonesia. Metode yang digunakan dalam penelitian ini adalah metode kuantitatif dengan teknik pengolahan data Generalized Least Squares dan menggunakan Structural Equation Model (SEM) dengan melibatkan factor-analysis dan path-analysis. Sampel yang digunakan pada penelitian ini adalah sembilan perusahaan asuransi yang tercatat di Bursa Efek Indonesia pada periode 2009-2019. Terdapat tiga penemuan dari penelitian ini. Pertama, struktur modal memiliki pengaruh negatif terhadap profitabilitas perusahaan asuransi, namun tidak signifikan. Kedua, adanya hubungan positif dan signifikan dari struktur modal terhadap risiko operasional. Ketiga, terdapat pengaruh positif dari risiko operasional terhadap profitabilitas namun tidak signifikan.Kata kunci: asuransi, Bursa Efek Indonesia, profitabilitas, risiko operasional

scholarly journals The Role of Profitability in Mediating the Effect of Dividend Policy and Company Size on Company Value

2018 ◽  
Vol 4 (2) ◽  
pp. 35
Author(s):  
Rio Monoarfa
Keyword(s):  
Consumer Goods ◽  
Structural Equation ◽  
Dividend Policy ◽  
Stock Exchange ◽  
Partial Least Square ◽  
Least Square ◽  
Company Size ◽  
Company Value ◽  
Negative Effect ◽  
Least Square Approach

The purpose of this research is to analyze the effect of dividend policy and company size on profitability and company value of consumer goods company in Indonesia Stock Exchange (IDX). The population of this research is consumer goods companies in Indonesia Stock Exchange in the year of 2014-2016 amounted to 45 companies. Sampling is done by saturation sampling method in which all members of population are used as sample. The data analysis of this research uses method of structural equation added by PLS (Partial Least Square) approach. The result of the research shows that dividend policy has negative effect on profitability, while company size does not give any effect on profitability. Dividend policy, company size and profitability variable have an effect on company value. Profitability can not mediate the effect of dividend policy on company value but it can mediate the effect of company size on company value.

scholarly journals EFEK INTERVENING STRUKTUR MODAL PADA PENGARUH UKURAN PERUSAHAAN TERHADAP PROFITABILITAS

2020 ◽  
Vol 11 (2) ◽  
pp. 137-147
Author(s):  
I Made Purba Astakoni ◽  
Ni Putu Nursiani
Keyword(s):  
Capital Structure ◽  
Firm Size ◽  
Structural Equation ◽  
Partial Least Square ◽  
Least Square ◽  
Equation Modeling ◽  
Significant Positive Effect ◽  
Manufacturing Companies ◽  
Positive Effect ◽  
The Capital Structure

Abstract The objectives of this study are (1). (2) Analyzing the influence of firm size on profitability, (3) Analyzing the effect of capital structure on profitability, (4) Analyzing the role of capital structure variables in influencing the influence of firm size on profitability. The population in this study were all manufacturing companies in the Cosmetics and Household Purposes Sector listed on the Indonesia Stock Exchange (IDX). The total population in this study is 6 manufacturing companies in the cosmetics sector and household needs. Based on predetermined criteria, the number of samples is 3 companies, so the data analyzed is panel data with a total of 18 observations. Data analysis techniques use the Partial Least Square (PLS) approach. PLS is a model of Structural Equation Modeling (SEM) based on components or variants. PLS is a powerful analytical method because it is not based on many assumptions. The results of analysis and hypothesis testing indicate; The first hypothesis states that there is a significant positive effect on firm size on capital structure. The results of the analysis found that the size of the company had no significant positive effect on the capital structure so that the first hypothesis was not acceptable. The second hypothesis states that there is a significant positive effect on firm size on profitability. The results of the analysis found that the size of the company had no significant positive effect on profitability so that the second hypothesis was not acceptable. The third hypothesis which states there is a significant positive effect of capital structure on profitability. The results of the analysis found that the capital structure had a significant positive effect on profitability so that the third hypothesis could be accepted. In testing with the Sobel test it was found that the capital structure has not been tested as an intervening variable on the effect of firm size on profitability in the Cosmetics and Household Utilities manufacturing companies listed on the Indonesia Stock Exchange (IDX). Keywords: Company size; capital structure; profitability Abstrak Tujuan dari penelitian ini adalah (1). Menganalisis pengaruh ukuran perusahaan terhadap struktur modal, (2)Menganalisis pengaruh ukuran perusahaan terhadap profitabilitas, (3) Menganalisis pengaruh struktur modal terhadap profitabilitas,(4)Menganalisis peran variabel struktur modal dalam mengintervening pengaruh ukuran perusahaan terhadap profitabilitas. Populasi dalam penelitian ini adalah seluruh perusahaan manufaktur Sektor Kosmetik dan Keperluan Rumah Tangga yang terdaftar di Bursa Efek Indonesia (BEI). Adapun jumlah populasi dalam penelitian ini sebanyak 6 perusahaan manufaktur sektor kosmetik dan keperluan rumah tangga. Berdasarkan kriteria yang telah ditetapkan maka jumlah sampel sebanyak 3 perusahaan, sehingga data yang dianalisis merupakan data panel dengan jumlah observasi sebanyak 18. Teknik analisis data menggunakan pendekatan Partial Least Square (PLS). PLS adalah model persamaan Structural Equation Modeling (SEM) yang berbasis komponen atau varian. PLS merupakan metode analisis yang powerfull karena tidak didasarkan pada banyak asumsi.Hasil analisis dan pengujian hipotesis menunjukkan; Hipotesis pertama yang menyatakan terdapat pengaruh signifikan positif ukuran perusahaan terhadap struktur modal . Hasil analisis menemukan ukuran perusahaan berpengaruh tidak signifikan positif terhadap struktur modal sehingga hipotesis pertama tidak dapat diterima. Hipotesis kedua yang menyatakan terdapat pengaruh signifikan positif ukuran perusahaan terhadap profitabilitas . Hasil analisis menemukan ukuran perusahaan berpengaruh tidak signifikan positif terhadap profitabilitas sehingga hipotesis kedua tidak dapat diterima. Hipotesis ketiga yang menyatakan terdapat pengaruh signifikan positif struktur modal terhadap profitabilitas . Hasil analisis menemukan struktur modal berpengaruh signifikan positif terhadap profitabilitas sehingga hipotesis ketiga dapat diterima. Pada pengujian dengan uji Sobel didapat bahwa struktur modal belum teruji sebagai sebagai variabel intervening pada pengaruh ukuran perusahaan terhadap profitabilitas pada perusahaan manufaktur Sektor Kosmetik dan Keperluan Rumah Tangga yang terdaftar di Bursa Efek Indonesia (BEI). Kata Kunci: Ukuran perusahaan; struktur modal; profitabilitas

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