Detail Currency Depreciation and Firm Performance in Indonesia (presented in International Financial Management Association (FMA) European Conference - Barcelona, Spanyol, 30 Mei-1 Juni 2007) Bibliografi Author: Prasetyantoko, A. Ico Tri Topik: currency depreciation; firm performance; maturity debts Bahasa: (EN )     Penerbit: International Financial Management Association     Tempat Terbit: Barcelona    Tahun Terbit: 2007     Jenis: Papers/Makalah - pada seminar internasional Fulltext: text - Paper 15 - FMA Barcelona.pdf (139.46KB; 1 download) Abstract This paper engages in firm-level performance following currency depreciation in Indonesia. To capture the fundamental effect of currency depreciation on firm performance, this paper includes firm profitability (ROA), whereas market capitalization growth is considered as an indicator of market price of the firm. We argue that capital structure choice of the firms becomes a pivotal factor determining the firm value when to currency depreciation is present. The specific formal question of this paper is whether firms with higher maturity debts have lower profitability and market capitalization growth in years after currency depreciation. By employing 238 listed companies in Jakarta Stock Exchange (JSX) in the period 1994 – 2004 containing at least 5 consecutive years, this paper finds that following currency depreciation firms generally have lower level of profitability but higher market capitalization growth. However, for the impact of maturity debt on firm value, it is still unclear and need further research to draw a valid conclusion. This study employs fixed-effects panel data method. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Lihat Sejarah Pengadaan  Konversi Metadata   Kembali

Copyright © 2006, 2007 Unika Atma Jaya, all rights reserved