학술논문
Related Loan on Real Estate Firm Performance in an Emerging Market
이용수 0
- 영문명
- 발행기관
- 한국유통과학회
- 저자명
- Purwanto PURWANTO
- 간행물 정보
- 『The Journal of Asian Finance, Economics and Business(JAFEB)』Vol. 7 No.10, 697~706쪽, 전체 10쪽
- 주제분류
- 경제경영 > 경제학
- 파일형태
- 발행일자
- 2020.10.30
무료
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국문 초록
영문 초록
This study investigates the relationship between related loan, ownership concentration and real estate firm performance. The data was collected from 35 real estate firms listed on Indonesia Stock Exchange from 2007 to 2012. Related loans are viewed from the angle of related lending and loan. Related lending and loan is measured by the related lending on total lending ratio and related loan on total loan ratio. Firm performance is measured by the asset turnover ratio and return on assets ratio. Ownership concentration is measured by the right cash flow. The data analysis was done with regression analysis and panel data. The results of the study found that related loans had a positive effect on sales but had no effect on profits. This supports the efficient transaction hypothesis. On the other hand, related lending has a positive effect on profits that supports opportunistic transactions. Ownership concentration moderates the effect of related loan on company’s performance. The related lending are beneficial for mutually supporting activities in the real estate sector business group in Indonesia, but related loans have the potential to be used in tunneling activities. The paper contributes to the related party transaction in benefits-risks of related lending and related loan in uncertainty context.
목차
1. Introduction
2. Literature Review
3. Research Methods and Materials
4. Results and Discussion
5. Conclusions
References
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