Struktur modal dan keberlangsungan lembaga keuangan mikro

Indayani Indayani, Imam Ghozali

Abstract

This study purpose to test the theory of capital structure (grants, equity, profits, savings, deposits, lingkage, subordinated loans and quasy capital) and its effect on sustainability in microfinance, particularly regulated institutions. The investigation involved a panel of 322 samples of conventional banks (BPR) throughout Indonesia for the period 2012-2014. The sampling method was based on proportional samples in the provinces/ districts. This research uses SEM analysis tool with WarpPLS to test hypothesis. Methods of data analysis were done by evaluating the measurement model and structural model. The results showed the equity, profit, savings and lingkage affected sustainability in microfinance. Meanwhile, grants, deposits, subordinated loans and quasy had no effect on the sustainability of microfinance. The implications of the policy show that savings and lingkage can be maintained and enhanced because they have an impact on improving the sustainability of the BPR. This research can be a reference for developing research related to the capital structure of microfinance in the future.

Keywords

capital structure, sustainability, microfinance

Full Text:

PDF

References

Abor, J. 2005. The effect of capital structure on profitability: an empirical analysis of listed firms in Ghana. The Journal of Risk Finance 6 (5): 38-47.

Bank Indonesia. 2010. Pedoman akuntansi bank perkreditan rakyat. Edisi 1. Jakarta: Bank Indonesia

Berger, A. N., dan E. B. Di Patti. 2006. Capital structure and firm performance: a new approach to testing agency theory and an application to the banking industry." Journal of Banking & Finance 30 (4): 1065–1102.

Bertomeu, J., A. Beyer, dan R. A. Dye. 2011. Capital structure, cost of capital, and voluntary disclosures. The Accounting Review 86 (3): 857-886.

Article Metrics

Metrics Loading ...

Metrics powered by PLOS ALM


JURNAL AKUNTANSI DAN AUDITING INDONESIA (JAAI)
ISSN 1410-2420 (print), 2528-6528 (online)
Published by Accounting Department, Faculty of Economics, Islamic University of Indonesia and Supported by IAI-KAPd (Ikatan Akuntan Indonesia - Kompartemen Akuntan Pendidik)

Creative Commons License
JAAI pada http://journal.uii.ac.id/index.php/JAAI/ terlisensi oleh Creative Commons Attribution 4.0 International License.