IJSTR

International Journal of Scientific & Technology Research

Home About Us Scope Editorial Board Blog/Latest News Contact Us
0.2
2019CiteScore
 
10th percentile
Powered by  Scopus
Scopus coverage:
Nov 2018 to May 2020

CALL FOR PAPERS
AUTHORS
DOWNLOADS
CONTACT

IJSTR >> Volume 8 - Issue 7, July 2019 Edition



International Journal of Scientific & Technology Research  
International Journal of Scientific & Technology Research

Website: http://www.ijstr.org

ISSN 2277-8616



Strategy For The Formation Of Optimal Capital Structure With SWOT Analysis In Food And Beverage Companies

[Full Text]

 

AUTHOR(S)

Ashari Sofyaun, Isti Fadah, Asrid Juniar

 

KEYWORDS

Profitability, Dividend, Company size, Capital structure, SWOT

 

ABSTRACT

This study aims to determine the formation of optimal capital structure in food and beverage sector companies on the Indonesian stock exchange during the period 2013-2017. Analysis was carried out on profitability, dividend policy, company size, and SWOT model through analysis of strengths, weaknesses, opportunities and threats and became the basis for formulating various alternative strategies that can be done by company managers. The findings explain the fact that profitability has not been maximized, debt ownership is large and less efficient, but consistent in the provision of dividends, as well as the size of large companies. Alternalitive choice of strategies in the form of dividends to enhance the company's positive image, expand business networks with large capital strength, maximize domestic resource potential, produce products efficiently, use debt capital efficiently, and improve the quality of all company resources.

 

REFERENCES

[1] D. Hambrick and P. Mason, "Upper Enchelons, The Organization As A Reflection of Its Top Management," Academy of Management Review, vol. 9, pp. 193-206, 1984.
[2] M. C. Jensen and Mackling, "Theory of Firm: Managerial Behavior, Agency Cost and Ownership Structure," Journal of Financial Economic, pp. 305-360, 1976.
[3] H. DeAngelo and M. R., "Optimal Capital Sturcture Under Corporate and Personal Taxation," Journal of Finance Economic, vol. 8, pp. 3-9, 1980.
[4] s. Myers, "The Capital Structure Puzzle," The Journal Of Finance, vol. 39, pp. 575-592, 1984.
[5] E. Fama and K. French, "Testing Trade-Off and Pecking Order Predictions About Dividendsand Debt," Review of Financial Studies, pp. 1-33, 2002.
[6] H. DeAngelo, L. DeAngelo and R. Stulz, "Dividend Policy and The Earned/Contributed Capital Mix: A Test of The Lifecycle Theory," Journal of Financial Economics, pp. 227-254, 2006.
[7] I. B. Yuswanto, B. W D and I. Fadah, "Performance Improvement Startegic Home Based Manufacturer Tahu and Tempe Groups Based in the District of Jember," International Journal Of Scientific & Technology Research, vol. 6, no. 04, pp. 23-27, 2017.
[8] I. Budi, W. Bhayangkara and I. Fadah, "Identification of Problems and Strategies of the Home-Based Industry in Jember Regency," Agricultural and Agricultural Science Procedia, pp. 363-370, 2015.
[9] A. Juniar, I. Fadah and R. Rahmawati, "Strategy Of Financial Efficiency Of Coal Companies In Indonesia In The Era Of Disruption," International Journal Of Scientific & Technology Research, vol. 7, no. 11, pp. 89-93, 2018.
[10] R. Rahmawati, F. Isti and A. Juniar, "Psychological Climate Development Strategy at Achmad Yani University Banjarmasin in the Era of Industrial 4.0," International Journal of Scientific Development and Research, vol. 3, no. 10, pp. 170-174, 2018.
[11] F. R. David, Manajemen Strategis, Jakarta: Salemba Empat, 2011.
[12] M. C. Jensen, "Agency Cost of Free Cash Flow, Corporate Finance and Takeover," American Economic Review, pp. 33-339, 1986.
[13] Grosnan and O. Hart, Corporate Finance Sturcture and Managerial Incentive, Chicago: University of Chicago Press, 1982.
[14] E. F. Fama and M. H. Miller, The Theory of Finance, New York: Holt, Rinehart and Inton, Inc, 1972.
[15] B. Bathala, K. Moon and R. Roa, "Managerial Ownership, Debt Policy and The Impact of Institusional Holding: An Agency Perspective," Financial Management, vol. 3, pp. 34-48, 1984.
[16] S. Ross, "The Determinant of Financial Sturcture: The Incentive-Signalling Approach," The Bell Journal of Economics, vol. 8, pp. 23-40, 1977.
[17] I. Fadah, M. Apriono and M. Shodiqin, "Analisis Rasio-Rasio Keuangan Sebagai Dasar Penilaian Terhadap Kinerja Keuangan Perusahaan pada Industri Barang Konsumsi yang Listed di Bursa Efek Jakarta," Modernisasi, vol. 1, pp. 47-55, 2005.
[18] Saidi, "Faktor-Faktor Yang Mempengaruhi Struktur Modal Pada Perusahaan Manufaktur Go Publik di BEJ Tahun 1997-2002," Jurnal Bisnis dan Ekonomi, vol. 11, pp. 44-58, 2004.
[19] Kasmir, Analisis Laporan Keuangan, Jakarta: Rajawali Pers, 2013.
[20] M. Mahfoedz, "Financial Ratio Analysis and The Predictions of Earning Changes in Indonesia," Kelola, pp. 113-137, 1994.
[21] N. Daniati and Suhairi, "Pengaruh Kandungan Informasi Komponen Laporan Arus Kas, Laba Kotor dan Size Persuahaan Terhadap Expected Return," in Simposium Nasional Akuntansi IX, Padang, 2006.
[22] Brigham and Houston, Dasar-Dasar Manajemen Keuangan Buku 1, Jakarta: Salemba Empat, 2010.
[23] M. Miller and F. Modigliani, "Dividend Policy, Growth and The Valuation of Shares," Journal of Business, pp. 411-433, 1961.
[24] M. Gordon and L. John, "Distribution of Income of Coprporations Among Dividend, Retained Earning and Taxes," The American Review, 1956.
[25] I. Fadah, "Faktor Penentu Dividen dan Biaya Keagenan Serta Pengaruhnya pada Nilai Perusahaan," Jurnal Keuangan dan Perbankan, vol. 14, pp. 391-406, 2010.
[26] W. R. Murhadi, Analisis Laporan Keuangan Proyeksi dan Evaluasi Saham, Jakarta: Salemba Empat, 2013.
[27] Sugiyono, Metode Penelitian Kuantitatif, Bandung: Alfabeta, 2007.
[28] A. Juniar and R. Rahmawati, "Synergy of Quadruple Helix in the Development of Small Industries Processing Fisheries in Banjar District," International Journal od Scientific Development and Research, vol. 3, no. 11, pp. 391-399, 2018.