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Serbian Journal of Management
2018, vol. 13, br. 1, str. 105-113
jezik rada: engleski
vrsta rada: originalan članak
doi:10.5937/sjm13-16216

Creative Commons License 4.0
Uloga industrijskih faktora u optimalnoj strukturi kapitala - empirijska studija o proizvodnim preduzećima iz Indonezije
aUniversitas Parmadina, Jakarta, Indonesia
bFEB Universitas Indonesia, Depok, Indonesia

Sažetak

Cilj ove studije je poboljšanje modela optimalne strukture kapitala. Ovo istraživanje ima za cilj da ispita ulogu industrijskih faktora u optimalnoj zastupljenosti strukture kapitala tako što uključuje industrijske faktore u postojeći model, koristeći karakteristične promenljive kompanije kao kontrolne promenljive. U ovom istraživanju primenjuje se sedam industrijskih varijabli: broj kompanija u industriji (BKI), konkurentna dinamika industrije (KDI), odgovor kompanije na konkurentnost u industriji (KI), broj zaposlenih u industriji (BZI), udeo zaposlenih u kvazi renti kompanije (UZKRK), kategorija diverzifikacije proizvoda (KDP) i diverzifikacija nivoa povezanosti (DNP). Ovo istraživanje određuje da li je predloženi zastupnik u ovom istraživanju bolji od dva druga zastupnika. Postupak testiranja je dizajniran da replicira proceduru Farhata (Farhat, 2003). Podaci korišćeni u istraživanju sastoje se od 83 kompanije iz 13 industrija koje su navedene na IDKS-u za period 2001-2014. Rezultati pokazuju da promenjive u industriji mogu poboljšati postojeće optimalne strukture zastupnjenosti kapitala. Ovaj nalaz doprinosi industriji u tome što može poboljšati dinamičan kompromisni model strukture kapitala.

Ključne reči

optimalna struktura kapitala; dinamički kompromisni model; industrijski faktori; konkurentnost u industriji; zaposleni; diversifikacija

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