Performance, capital structure and home country: An analysis of Asian corporations

Krishnan, V. Sivarama; Moyer, R. Charles

doi:10.1016/s1044-0283(97)90010-7

Cited by 105 publications

(91 citation statements)

References 23 publications

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“…The common proxies used to measure firms' accounting performance in previous studies are: ROA, ROE, ROI (Krishnan & Moyer, 1997;and Zeitun & Gang Tian, 2007). Other measures, based on market performance of firms, as used by many authors are: Tobin's Q (Mousa et al, 2012;Saibaba, 2013;Sami et al, 2011;and Zeitun & Gang Tian, 2007) and price to earnings ratio (P/E) (Abdel Shahid, 2003).…”

Section: Methodsmentioning

confidence: 99%

Audit Committee, Corporate Governance and Firm Performance: Empirical Evidence from India

Bansal¹,

Sharma²

2016

IJEF

126

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Considering the endorsement of Indian Companies Act (2013), the study examines the role of audit committee characteristics (independence and frequency of meetings) in addition with other components of corporate governance (duality, promoter shareholding, board composition, and board size) in improving firm performance. Fixed effect panel data regression was applied on 235 non-financial public limited companies listed in NSE 500. The time period considered was ten years (2004 to 2013). Return on Assets, Return on Equity, Tobin's q and Market Capitalization were used as proxy of firm performance. Results reveal significant positive association of board size and CEO-Chairman dual role with firm performance. However, findings did not reveal any additional effect of audit committee independence and its meeting frequency on the financial performance of Indian firms. Regulators and policy makers may reexamine the significance of greater independence of board and audit committee in context of firm performance.

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Section: Methodsmentioning

confidence: 99%

Audit Committee, Corporate Governance and Firm Performance: Empirical Evidence from India

Bansal¹,

Sharma²

2016

IJEF

126

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“…Namun penelitian ini tidak sesuai dengan hasil penelitian Homaifar et al (1994), Krishnan dan Moyers (1997), Michaelas et al (1999), dan Deesomsak et al (2004) yang menyatakan risiko bisnis tidak mempengaruhi keputusan struktur modal.…”

Section: Pengaruh Pertumbuhan Perusahaan Terhadap Struktur Modal Peruunclassified

“…Titman dan Wessels menyimpulkan risiko bisnis, struktur aset, dan pertumbuhan perusahaan tidak mempengaruhi rasio utang perusahaan. Hasil penelitian Krishnan dan Moyers (1997), Deesomsak (2004), Eriotis (2007), serta Hossain dan Ali (2012) juga menyimpulkan profitabilitas, ukuran perusahaan, pertumbuhan perusahaan dan risiko bisnis tidak memengaruhi keputusan pendanaan. Namun hasil penelitian Wald (1999) menyimpulkan profitabilitas dan pertumbuhan perusahaaan memengaruhi rasio utang perusahaan.…”

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Determinan Struktur Modal Dan Nilai Perusahaan Pertambangan Pasca Uu Nomor 4 Tahun 2009

Sumani

2017

EKUITAS

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ABSTRAKTujuan penelitian yaitu mengetahui pengaruh profitabilitas, ukuran perusahaan, pertumbuhan perusahaan, risiko bisnis, kepemilikan manajerial, dan kepemilikan institusional terhadap struktur modal serta pengaruh struktur modal terhadap nilai perusahaan pertambangan pasca penerapan UU Nomor 4 Tahun 2009 tentang Pertambangan Mineral dan Batubara. Jenis penelitian merupakan penelitian hypothesis testing, yaitu penelitian yang dilakukan untuk menguji hipotesis berdasarkan kajian teoritis dan empiris. Populasi penelitian yaitu perusahaan pertambangan yang terdaftar di Bursa Efek Indonesia (BEI), dengan anggota populasi berjumlah 36 perusahaan. Metode pengambilan sampel menggunakan teknik purposive sampling dan diperoleh 11 perusahaan dengan periode penelitian selama 6 (enam) tahun, mulai 2009 sampai 2014. Teknik analisis dengan regresi berganda dan sederhana sesuai dengan tujuan penelitian yang ingin dicapai. Uji asumsi klasik semua terbebas dari multikolinearitas, otokorelasi dan heteroskedastisitas. Hasil pengujian hipotesis menunjukkan bahwa variabel profitabilitas, risiko bisnis, kepemilikan manajerial, serta kepemilikan institusional, masing-masing sebagai berpengaruh negatif signifikan terhadap struktur modal perusahaan pertambangan. Namun variabel ukuran perusahaan, pertumbuhan dan struktur aktiva tidak berpengaruh signifikan terhadap struktur modal. Struktur modal berpengaruh negatif signifikan terhadap nilai perusahaan pertambangan pasca penerapan UU Nomor 4 Tahun 2009. Kata kunci: Struktur Modal, Nilai Perusahaan, Perusahaan pertambangan. PENDAHULUANKesejahteraan pemegang saham dipengaruhi oleh keputusan keuangan yang dilakukan oleh pihak manajemen. Manajer keuangan sebagai pihak yang bertanggung jawab, memiliki peran penting dalam menentukan keputusan keuangan. Salah satu keputusan penting yang dihadapi

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“…Krishnan and Moyer (1997) found a negative and significant impact of total debt to total equity (TD/TE) on Return on Equity (ROE). Gleason, Mathur and Mathur, (2000) found that firms capital structure has a negative and significant impact on firms performance measures return on assets (ROA).…”

Section: The Pecking Order Theorymentioning

confidence: 99%

The Relationship between Capital Structure and Performance in Gulf Countries Banks: A Comparative Study between Islamic Banks and Conventional Banks

Meero¹

2015

IJEF

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This paper mainly has two objectives: the first one is to identify the similarity of capital structure between Islamic and Conventional banks; Second objective is to detect the relationship between capital structure variables and performance of Islamic and Conventional Banks in Gulf Countries (GC). This investigation has been performed on a sample of 16 GC Banks (8 Islamic Banks and 8 Conventional Banks) for the period 2005-2014. ROE (return on equity) and ROA (return of asset) have been used as performance measures. Total debt to total assets, Equity to total assets, Debt to equity ratios have been used as capital structure measures. Size of the bank has been considered as dependent variable to identify its relationship with bank performance. Data collected were analyzed by using SPSS software. The results of the research indicate a similarity of capital structure of Islamic banks and Conventional banks in Gulf Countries. ROA as performance measurement has a significant negative relationship with financial leverage and a positive relationship with equity to assets ratio. This relationship is identified at Islamic banks, Conventional banks and all the banks of the sample. Bank size has a positive relationship with ROA and ROE as performance measures in Islamic and Conventional banks.

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Performance, capital structure and home country: An analysis of Asian corporations

Cited by 105 publications

References 23 publications

Audit Committee, Corporate Governance and Firm Performance: Empirical Evidence from India

Audit Committee, Corporate Governance and Firm Performance: Empirical Evidence from India

Determinan Struktur Modal Dan Nilai Perusahaan Pertambangan Pasca Uu Nomor 4 Tahun 2009

The Relationship between Capital Structure and Performance in Gulf Countries Banks: A Comparative Study between Islamic Banks and Conventional Banks

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