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Journal : Review of Islamic Economics and Finance

Understanding the Corporate Values of Islamic Commercial Banks with the Theory of MM Preposition and David Durand in Capital Structure Theory Difa Tsaniya Nafhanti; Darmawan Darmawan
Review of Islamic Economics and Finance (RIEF) Vol 2, No 1 (2019): Review of Islamic Economics and Finance (RIEF) June 2019
Publisher : Universitas Pendidikan Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (230.338 KB) | DOI: 10.17509/rief.v2i1.17801

Abstract

This study aims to understand the value of Islamic public bank companies registered at OJK during 2013-2017. The used approach is the capital structure theory of MM preposition and David Durand. The used analytical method in this study is panel data regression analysis with the Random Effect Model. The study results show that the tax rate, profitability, and cost of capital simultaneously affect Islamic commercial bank companies' value. Partially, tax rates and profitability affect the value of Islamic commercial bank companies. The cost of capital does not affect the value of Islamic commercial bank companies. This study proved that the prevailing MM preposition capital structure theory is MM prepositions without tax in companies based on institutional ownership, especially Islamic commercial banks. This study also succeeded in proving that the theory of David Durand's capital structure was proven. The cost of capital variables become influential when the company is divided into two based on institutional ownership.
Co-Authors . Darwison ABDUL HAMID Achmad Jufri Al Zuhri Alif Lukmanul Hakim Alvynada Nurul Laily Amrizal Saidi Ananda Rahma Winata Andi Ard Maidhah Andin Sofyannor Anhar Fazri Annisa Titis Mardiana Apit Fathurohman Arif Iskandar Arini Novandalina Asdar Iswati, Asdar Asri Simpati Siregar Azhamita Nanda Ariyanti Azhari Azhari Baba, Basri Basril A Bustomi Bustomi D. T. Suryaningratyas Difa Tsaniya Nafhanti Dita Amalia Putri Diyah Khoirunnisa Eko Nurcahya Dewi Errizal errizal F. Firosya Fachri Ahmad Fandil Fandil Fatmamita Yuliana Feliona Astika Fikri Faidul Jihad Firman Freaddy Busroh Futri Syam Gamar Abdullah Ganda Darmono Nainggolan Gusnidar Gusnidar Haryono Umar Herviyanti Herviyanti Intani Puteri Syarifah Jasnur Syahputra Juli Andria Jun Musnadi Is Junaedi Junaedi Krissantono Karo Karo Kurniawan Riau Pratomo Laila Mardlotillah Yogaswara Laksono, Heru Dibyo Lily Eky Nursia N Luthfi Isnaini Afifah M. Iqbal Himam Maiza Duana Marhadi Budi Waluyo Marsudi Utoyo Meuthia Paradhiba Muh. Taufiq Al Hidayah Muhammad Marafwansyah MUHAMMAD YUSUF Mumuh Muharram Murdianto, Deny Nazaruddin Abubakar Nazaruddin Nazaruddin Nunik Mulyandari Rahmadi Kurnia Ridwan Ridwan Riko Nofendra Rinawati Rinawati Riza Sofiyani Robiansyah, Firman Rusydi, Muhammad Ilhamdi Safira Natasha Saiful Amri Sanusi Bintang Seli Indriani Shelvi Fazira Rizky siti maisyaroh fitri siregar Sri Noviani Sri Untari Puji Rejeki Sri Wahyuni Muhsin Sultan sarda Syarkawi Syamsuddin Syarthini Indrayani Taufiq Soeltanto Tossy Aryanto Ulfah Apriani Y.S. Darmanto Yasir Arafat Yessy W Yosef Alexander Koli Zaini, Zaini