The Influence of Capital Structure on Corporate Financial Performance Moderated by GDP: Analysis on the Food and Beverage Sub-Sector Listed on the IDX in 2013-2019

Proceedings of the First Lekantara Annual Conference on Public Administration, Literature, Social Sciences, Humanities, and Education, LePALISSHE 2021, August 3, 2021, Malang, Indonesia Pub Date : 1900-01-01 DOI:10.4108/eai.3-8-2021.2315095

K. Curry, Imam Zul Fikri

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Abstract

Financial performance can be used to measure the success of a company. In this study, Gross Domestic Product (GDP) moderated the capital structure and financial performance. Higher GDP determines the appropriate composition of capital structure and improves the company’s financial performance. This research used the panel data regression method. Results indicated that the factors influencing financial performance are Loan to Deposit Ratio (LDR), GDP moderated Domestic Product (GDP), GDP moderated Debt to Equity (GDER), and GDP moderated Loan to Deposit Ratio (GLDR). The financial performance of the company is influenced by the moderation of DER and LDR by GDP. In other words, a fairly strong influence is shown by economic conditions on the determination of the capital structure and also the improvement of the company’s finances

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GDP调节的资本结构对企业财务绩效的影响——基于2013-2019年IDX上市食品饮料板块的分析

财务业绩可以用来衡量一个公司的成功。在本研究中，国内生产总值(GDP)调节资本结构和财务绩效。较高的GDP决定了合适的资本结构构成，提高了公司的财务绩效。本研究采用面板数据回归方法。结果表明，影响财务绩效的因素有存贷比(LDR)、GDP调节国内生产总值(GDP)、GDP调节债务股本比(GDER)和GDP调节存贷比(GLDR)。公司的财务绩效受到GDP对DER和LDR的调节作用的影响。换句话说，经济状况对资本结构的决定和公司财务状况的改善有相当大的影响

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Proceedings of the First Lekantara Annual Conference on Public Administration, Literature, Social Sciences, Humanities, and Education, LePALISSHE 2021, August 3, 2021, Malang, Indonesia

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