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Corporate Financial Strategy in an Emerging Market: Evidence from Indonesia
| Content Provider | MDPI |
|---|---|
| Author | Alghifari, Erik Syawal Hermawan, Atang Gunardi, Ardi Rahayu, Agus Wibowo, Lili Adi |
| Copyright Year | 2022 |
| Description | This paper focuses on strategic corporate financial decisions related to capital structure to increased firm value, moderated by the COVID-19 pandemic under MM theory, trade-off theory, and pecking order theory. The analytical method used is panel data analysis, with observations of 1828 non-financial companies on the Indonesia Stock Exchange from the years 2019 to 2021. The results show that there is an effect of capital structure on firm value in a positive direction, and the moderating role of the COVID-19 pandemic weakens the effect of capital structure on firm value. The findings show that capital structure only has a significant effect on firm value for the debt-dominant group, but not for the equity-dominant group. The moderating effect of the COVID-19 pandemic affects firm value for the debt-dominant group, but not for the equity-dominant group. |
| Starting Page | 362 |
| e-ISSN | 19118074 |
| DOI | 10.3390/jrfm15080362 |
| Journal | Journal of Risk and Financial Management |
| Issue Number | 8 |
| Volume Number | 15 |
| Language | English |
| Publisher | MDPI |
| Publisher Date | 2022-08-15 |
| Access Restriction | Open |
| Subject Keyword | Journal of Risk and Financial Management Applied Ethics Financial Strategy Capital Structure Firm Value Pandemic Covid-19 Emerging Market |
| Content Type | Text |
| Resource Type | Article |
