SOKONGAN POLITIK DAN STRUKTUR MODAL PADA PERUSAHAAN SYARIAH INDEKS LQ-45 BURSA EFEK INDONESIA PADA PERUSAHAAN SYARIAH INDEKS LQ-45 BURSA EFEK INDONESIA
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Abstract
The aim of this research was to find out the effect of political connections on the leverage of syariah and non-syariah companies in Indonesia. Politically connected companies are suspected to have higher leverage than companies that are not politically connected to syariah and non-syariah companies in Indonesia Stock Exchange Index LQ-45. The period in this research was 2014 to 2018. The samples in this research were 19 syariah companies and seven non-syariah companies. Out of 19 sharia companies, 16 were politically connected and three were without political connections. Non-syariah companies have five politically connected companies and two without political connections. Regression test result shows significant results of political connections to leverage in syariah and non-syariah companies. Political connections are considered capable of supporting companies in terms of funding.
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SOKONGAN POLITIK DAN STRUKTUR MODAL PADA PERUSAHAAN SYARIAH INDEKS LQ-45 BURSA EFEK INDONESIA: PADA PERUSAHAAN SYARIAH INDEKS LQ-45 BURSA EFEK INDONESIA. (2020). I-Finance: A Research Journal on Islamic Finance, 6(1), 1-6. https://doi.org/10.19109/ifinance.v6i1.5235
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I-Finance by http://jurnal.radenfatah.ac.id/index.php/I-Finance is lincensed under a Creative Commons Attribution-ShareAlike 4.0 International Lisence.
How to Cite
SOKONGAN POLITIK DAN STRUKTUR MODAL PADA PERUSAHAAN SYARIAH INDEKS LQ-45 BURSA EFEK INDONESIA: PADA PERUSAHAAN SYARIAH INDEKS LQ-45 BURSA EFEK INDONESIA. (2020). I-Finance: A Research Journal on Islamic Finance, 6(1), 1-6. https://doi.org/10.19109/ifinance.v6i1.5235
References
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[2] Ayu, G., Lestari, W., & Putri, I. G. A. M. A. D. (2017). Pengaruh Corporate Governance, koneksi politik dan Leverage terhadap Penghindaran Pajak. E-Jurnal Akuntansi Universitas Udayana, 18 (3), 2028–2054.
[3] Boubakri, Narjes et al. (2012). Political connections and the cost of equity capital. Journal of Corporate Finance, vol. 18 (3), 541-559.
[4] Chandra, T. (2008). Perkembangan Teori Struktur Modal: Dari Modigliani-Miller, Myers, Sampai Jensen. Jurnal Teknologi Dan Manajemen Informatika, 6 (4), 840–850.
[5] Fabozzi, Frank J. dan Franco Modigliani. 2003. Capital Market. New Jersey: Prentice Hall.
[6] Faccio, M. 2006. Politically Connected Firms. American Economic Review 96, 369-386.
[7] Faccio, M. 2010. Differences Between Politically Connected and Non-Connected Firms: A Cross Country Analysis. Financial Management, 39 (3): 905-927.
[8] Kamaludin. 2010. Sokongan Politik Dan Leverage: Kasus Indonesia. Jurnal Ekonomi Bisnis, 15 (2), 92-104.
[9] Khwaja, A.I. dan A. Mian. 2005. Do Lenders Favor Politically Connected Firms? Rent Provision in an Emerging Financial Market. Quarterly Journal of Economics. 120 (4), 1371-1411.
[10] Sjahrial, Dermawan. 2009. Pengantar Manajemen Keuangan: Edisi Tiga. Jakarta: Mitra Wacana Media. ISBN: 9786028495271.
[11] Suhartono, Patrick A dan Sany. 2015. Pengaruh Political Connection Dewan Direksi dan Dewan Komisaris Terhadap Return On Equity Dan Asset Turnover Perusahaan di Sektor Konstruksi. Business Accounting Review, 3 (2), 261-270.
[12] Supriyatini dan Apandi, R Nelly Nur. 2019. Political Connection: Sebuah Pertimbangan Dalam Penentuan Tingkat Bunga. Journal IMAGE, 7 (2), 44-53.
[13] Syaputra, Kamilia. (2020). Perbedaan Karakteristik Perusahaan yang Terkoneksi Politik dan Tidak Terkoneksi Politik pada Bursa Efek Indonesia Indeks LQ-45. [Tesis]. Indoenesia: Universitas Lampung.
[14] Wulandari, Tri. 2012. Analisis Pengaruh Political Connection dan Struktur Kepemilikan Terhadap Kinerja Perusahaan (Studi Empiris Pada Perusahaan yang Terdaftar Di Bursa Efek Indonesia). [Skripsi]. Indoensia: Universitas Diponegoro.