Endonezya'nın Sermaye Piyasasında Finansal Mimarinin Finansal Performans ve Kurumsal Değer Üzerine Etkisi

Year 2019, Volume: 4 Issue: 2, 27 - 42, 02.12.2019

Wayan Widnyana

Abstract

Bu çalışma, finansal
mimarinin Endonezya Sermaye Piyasası'ndaki finansal performans ve kurumsal
değer üzerindeki etkisini incelemeyi amaçlamaktadır. Çalışma 2015 yılında
Endonezya Sermaye Piyasası'nda (Endonezya Menkul Kıymetler Borsası (IDX))
kayıtlı olan finans sektörü dışındaki şirketler üzerinde yapılmıştır. Çalışmada
nicel veriler ve ikincil veri kaynakları kullanılmıştır. Finansal mimarinin
etkisinin hipotez testi, Yol Analizi kullanılarak analiz edilmiştir ve mülkiyet
yapısının, sermaye yapısının ve kurumsal yönetimin finansal performans ve
kurumsal değer üzerindeki etkisini içermektedir. Çalışmada oluşturulan araştırma
modeline uygun bulgular elde edilmiştir. Çalışma sonucunda Endonezya Başkent
Piyasasında mülkiyet yapısının, sermaye yapısının, kurumsal yönetimin ve
yönetim kurulunun finansal performans ve kurumsal değer üzerindeki boyutları
ile finansal mimarinin etkisi üzerine teorik bir model ortaya koyulmuştur.  

Keywords

Finansal Mimari, Finansal Performans, Kurumsal Değer, Sermaye Piyasası

Influence of Financial Architecture on Financial Performance and Corporate Value in the Indonesian Capital Market

Abstract

This
study aims to examine the effect of financial architecture on financial
performance and corporate value in the Indonesian Capital Market. This research
was conducted on non-financial sector companies which were registered in the
Indonesian Capital Market, namely Indonesia Stock Exchange (IDX) in 2015. This
study used quantitative data and used secondary data sources, meaning that data
was obtained, collected and processed from other parties. In this study, the
hypothesis testing of the effect of financial architecture included the
dimensions of ownership structure, capital structure and corporate governance
on financial performance and corporate value using Path Analysis. The results
of this study have provided findings that are in accordance with the research
model that has been built This research has been able to give theoretical model
on the effect of financial architecture with the dimensions of ownership
structure, capital structure, corporate governance and board process on
financial performance and corporate value in the Indonesian Capital Market.

Keywords

Financial Architecture, Financial Performance, Corporate Value, Capital Market

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