The purpose of this study is to. Analyzing the financial structure. Managing debt. effect on earnings performance with efficiency ratio as an intervening variable Garuda airline. This research method uses a quantitative approach. Data analysis techniques. Using SPSS 21 for Windows. Multiple regression statistical test by analyzing t-test and f-statistics test. results with. independent variable...

This paper uses a transactions cost perspective to examine the development of organizational tendencies that plague the governance of unregulated subsidiaries by regulated parent companies. By focussing on what Williamson (1985) calls the 'incentive limits' of firms, conditions that should exacerbate the problems facing these firms as they diversify are identified. Empirical testing of hypothes...

I present a theory of the optimal capital structure and dividend policy for family business groups expanding in countries where the private control benefit is substantial and the market for corporate control is active. Here, issuing debt overcomes the limited dilution capacity of equity, but reduces the expected control benefit by increasing the probability of default. When family business grou...

This paper examines the stock market impact of captive insurance subsidiary formation on parent companies in the United Kingdom (UK) corporate sector. We report that the formation of an insurance captive has no e€ect on the ®nancial, systematic and unsystematic risks of the parent company, irrespective of the parent's market capitalisation. In addition, there is weak evidence that the market ha...