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This study analyzes the effect of capital structure on the performance of telecommunications firms. The firm performance is measured by return on assets while capital structure is proxied with the ratio of debt total assets. Data of telecommunication firm in 62 countries period of year 2010-2020 proceed with a dynamic data panel regression model using the generalized method of moment approach. The empirical results indicated that capital structure of telecommunication firm has significantly impact to the firm performance in developed and developing countries as well as in integrated and wireless telecommunication firms.  The other factors that effect on firm performance are firm size and growth. The novelty of this study lies in the scope of analyses that cover world-wide telecommunication industry based on demographic group (developed and developing countries) and main businesses (integrated and wireless telecommunication).

The purpose of the study was to determine the determinants of the firms' capital structure concerning their maximum financial performance. To reach this aim, the data of the financial statements firms of Indonesia were used. As the first method, a Pearson correlation matrix was applied to determine a statistically significant correlation between capital structure indicator (debt-to-assets ratio) and financial performance and ownership of the firms. The analysis used the data panel multiple regression model to assess the effect of these independent and controlling variables on leverage. Some findings are that profitability has positive (ROA) and negative (ROE) effect on leverage. MBV and tangibility do not affect the capital structure, and firm size negatively impacts on it. In this panel analysis, it was confirmed that the managerial and institutional ownership impact on leverage negatively and positively, respectively. By decreasing the sales growth, the debt ratio entity rises, or they have a negative relationship. Based on these findings, it can be stated that financial performances influenced the capital structure.

This study analyses the impact of transaction exposure, firm size, and liquidity on firm value with leverage as a mediating variable in on Consumer Non-Cylicals Sector Companies Listed on the Indonesia Stock Exchange from 2018 to 2023. Using Signalling Theory and Trade-off Theory as theoretical frameworks, the research employs path analysis to evaluate the relationships between variables. The findings reveal that transaction exposure, firm size, and liquidity have a positive significant effect on firm value. Conversely, leverage shows a negative significant impact on firm value, suggesting that excessive debt increases financial risk, thereby reducing firm value. Moreover, the study indicates that leverage does not mediate the effects of transaction exposure, firm size, or liquidity on firm value. These results highlight the importance for companies to prioritize managing liquidity and capital structure effectively to optimize firm value. Excessive use of debt should be minimized to avoid diminishing profitability and reducing market value, especially for firms with high exposure to international transactions.

This study was conducted to see whether there is a difference between mergers and acquisitions on financial performance and firm value or not. A total of 31 companies conducting mergers and acquisitions in 2016-2018 listed on the Indonesia Stock Exchange were sampled in this study. The occurrence of decline in profitability, liquidity, activity ratios and firm value as well as an increase in solvency ratios after mergers and acquisitions became the impetus for conducting research. The measuring tool of profitability is Net Profit Margin (NPM). The measuring tool of liquidity is the Current Ratio (CR). The measuring tool of Solvency is the Debt-to-Equity Ratio (DER). The measuring tool for the activity ratio is Total Asset Turnover Ratio (TATO). And the instrument for measuring the value of the company is the stock price. This study used the Wilcoxon-Signed Rank Test to test the hypothesis. The results showed that there was a difference in the Current Ratio (CR) after the merger and acquisition. However, mergers and acquisitions make no difference in Net Profit Margin (NPM), Total Asset Ratio (TATO), Debt-to-Equity Ratio (DER), and Firm value.

This study aims to determine the effect of debt policy and profitability on firm value moderated by corporate governance. This study uses secondary data on manufacturing companies listed on the Indonesia Stock Exchange for a five-year period from 2016 to 2020. The sample selection used the purposive sampling method in order to obtain a total of 195 samples that met the specified criteria. This research was tested using Moderated Regression Analysis. The results of this study provide evidence that debt and profitability policies have a positive effect on firm value.  Corporate is unable to influence the policy of debt to the value of the company, meaning that corporate governance cannot parse the information asymmetry caused by the policy of debt to corporate value and corporate governance strengthen the influence of profitability on firm value, which means that with the increasing corporate governance can strengthen the effect of profitability on firm value.

The purpose of this paper is to systematically examine studies on the relationship between corporate governance, organizational culture and firm performance, with the aim of knowing the potential for future research. The literature search consisted of two steps: a random literature review and a systematic literature review. The methodology adopted in this article is a systematic literature review. The Organizational Culture variable is an opportunity for research which is thought to be able to strengthen the relationship between corporate governance and firm performance, ownership structure and Board Characteristics which can be used as a proxy for corporate governance using resource based theory (RBV), resource dependence theory and agency theory, where research related to governance is an issue that is still very relevant to research at this time. Practical Implications, the development of a conceptual framework using resource-based theory (RBV) and resource dependence theory has implications for researchers to study by including organizational culture which is thought to influence company performance. Future research can add or replace it with other more relevant variables, so that it can be empirically tested how the relationship between corporate governance and firm performance and the organizational culture variable as a moderating variable. Future research is expected to give contribution for policy makers, company managers and investors in understanding important factors in order to create a good corporate governance.

This study analyses the impact of transaction exposure, firm size, and liquidity on firm value with leverage as a mediating variable in on Consumer Non-Cylicals Sector Companies Listed on the Indonesia Stock Exchange from 2018 to 2023. Using Signalling Theory and Trade-off Theory as theoretical frameworks, the research employs path analysis to evaluate the relationships between variables. The findings reveal that transaction exposure, firm size, and liquidity have a positive significant effect on firm value. Conversely, leverage shows a negative significant impact on firm value, suggesting that excessive debt increases financial risk, thereby reducing firm value. Moreover, the study indicates that leverage does not mediate the effects of transaction exposure, firm size, or liquidity on firm value. These results highlight the importance for companies to prioritize managing liquidity and capital structure effectively to optimize firm value. Excessive use of debt should be minimized to avoid diminishing profitability and reducing market value, especially for firms with high exposure to international transactions.

This study was conducted to see whether there is a difference between mergers and acquisitions on financial performance and firm value or not. A total of 31 companies conducting mergers and acquisitions in 2016-2018 listed on the Indonesia Stock Exchange were sampled in this study. The occurrence of decline in profitability, liquidity, activity ratios and firm value as well as an increase in solvency ratios after mergers and acquisitions became the impetus for conducting research. The measuring tool of profitability is Net Profit Margin (NPM). The measuring tool of liquidity is the Current Ratio (CR). The measuring tool of Solvency is the Debt-to-Equity Ratio (DER). The measuring tool for the activity ratio is Total Asset Turnover Ratio (TATO). And the instrument for measuring the value of the company is the stock price. This study used the Wilcoxon-Signed Rank Test to test the hypothesis. The results showed that there was a difference in the Current Ratio (CR) after the merger and acquisition. However, mergers and acquisitions make no difference in Net Profit Margin (NPM), Total Asset Ratio (TATO), Debt-to-Equity Ratio (DER), and Firm value.

This study aims to examine the effect of ownership structure on the level of agency conflict and examine the effect of corporate debt levels on the relationship between ownership structure and agency in manufacturing companies which is listed on the Indonesia Stock Exchange (IDX). In this study, researchers use two ownership structures, namely family ownership and insider ownership. The ownership structure is measured by the percentage of share ownership by family and insiders. The population of this study is all manufacturing companies listed on the IDX (Indonesian Stock Exchange) from 2017 to 2019. This study uses the purposive sampling technique. This study also has 19 companies with family ownership structures and 21 companies with insider ownership structures as samples. The data analysis technique uses descriptive statistical analysis by SPSS. The results of this study indicate that family ownership and insider ownership have a negative effect on the level of agency conflict in the company. In addition, this study also proves that the level of debt in the company strengthens the relationship between ownership structure and the level of agency conflict.

This study analyzes the effect of capital structure on the performance of telecommunications firms. The firm performance is measured by return on assets while capital structure is proxied with the ratio of debt total assets. Data of telecommunication firm in 62 countries period of year 2010-2020 proceed with a dynamic data panel regression model using the generalized method of moment approach. The empirical results indicated that capital structure of telecommunication firm has significantly impact to the firm performance in developed and developing countries as well as in integrated and wireless telecommunication firms.  The other factors that effect on firm performance are firm size and growth. The novelty of this study lies in the scope of analyses that cover world-wide telecommunication industry based on demographic group (developed and developing countries) and main businesses (integrated and wireless telecommunication).