Analisis struktur modal dan kecenderungan dysfunctional behaviour serta performance berbasis matriks Boston Consulting Group (BCG) pada perusahaan manufaktur yang listing pada PT. BEJ tahun 2001-2004

Sundari, Julia (2006) Analisis struktur modal dan kecenderungan dysfunctional behaviour serta performance berbasis matriks Boston Consulting Group (BCG) pada perusahaan manufaktur yang listing pada PT. BEJ tahun 2001-2004. Masters thesis, Widya Mandala Catholic University Surabaya.

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Abstract

Companies will through life-cycle on its business line. Companies have different performance with different strategies on each life-cycle. This life-cycle can be drawn with BCG matrix. Each life-cycle has its special symbol, i.e question marks, star, cash cow and dog. Pecking order Hypothesys theory tells us that company with good prospects prefers internal financing than external financing because of asymmetric information that makes many investors ask cost of capital higher than truly cost of capital. But company will face risk bigger if it size bigger. So companies will choose external financing, especially debt financing then equity financing through IPO (Initial Public Offerings). This is because many investors ask cost of capital lower than truly cost of capital. Leverage of company with dog symbol is lower than company with cash cows symbol because of bankruptcy risk if that company can't differentiates its products. Creditor will asks more higher cost of capital because of this risk. Probability of doing dysfunctional behaviour like earning management will rise to cover this bankruptcy risk. Writer presumes that there has leverage, dysfunctional behavior and performance’s differentiation between each life-cycle and there has leverage and dysfunctional behaviour's influence on company's performance within each life cycle. Final results tell us that there has leverage's differentiation significantly on companies with cash cow-star symbol and cash cow-question marks symbol and there has dysfunctional behaviour’s differentiation significantly on cornpanies with dog-question marks symbol. There has performance's differentiation significantly on companies with dog-star, cash cow-star and dog-question mark symbol. But there has'nt leverage, dysfunctional behaviour and performance's differentiation significantly on all life-cycle at once. Thete has leverage, dysfunctional behaviour's influence significantly on company's performance all life-cycle at once, either partially and all at once.

Item Type: Thesis (Masters)
Subjects: Business
Business > Financial Management
Divisions: Graduate School > Master Program in Management
Depositing User: Sri Kusuma Dewi
Date Deposited: 31 Mar 2015 03:02
Last Modified: 31 Mar 2015 03:02
URI: http://repository.wima.ac.id/id/eprint/1656

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