Show simple item record

dc.contributor.authorWidarwati, Estu
dc.contributor.authorHaryono, Tulus
dc.date.accessioned2020-01-21T03:03:01Z
dc.date.available2020-01-21T03:03:01Z
dc.date.issued2019
dc.identifier.citationAltman, E. I. (1984). A Further Empirical Investigation of the Bankruptcy Cost Question. Journal of Finance, 39, 1067-1089. Altman, E. I., & Hotchkiss, E. (2006). Corporate Financial Distress And Bankruptcy: Predict And Avoid Bankruptcy, Analyze And Invest In Distressed Debt. North America: Wiley Finance. Bar-Or, Y. D. (2000). An Investigation of Expected Financial Distress Costs. US: Bell & Howell Information and Learning Company. Berk, J., Stanton, R., & Zechner, J. (2010). Human Capital, Bankruptcy And Capital Structure. Journal of Finance, 1-38. Brown, C., & Medoff., J. (1989). The Employer Size-Wage Effect. Journal of Political Economy, 97: 1027-1059. Bulot, N., Salamudin, N., & Yaseer, W. M. (2014). The Size And Determinant Of Indirect Financial Distress Costs. Journal On Business Review (GBR), 3(4): 8-17. Chemmanur, T. J., Cheng, Y., & Zhang, T. (2007). Human Capital, Capital Structure, and Employee Pay: An Empirical Analysis. The AAA Northeast Region Meeting. US. Chen, G., & Merville, L. (1999). An Analysis of the Underreported Magnitude of the Total Indirect Costs of Financial Distress. Review of Quantitative Finance and Accounting, 13:277-293. Chirani, E., & Effatdoost, M. (2013). Diversification Strategy, A Way Toward The Competitive Advantage. Kuwait Chapter of Arabian Journal of Business and Management Review, 3(1): 23- 27. Dang, C., & Li, F. (2015, April 8th). Measuring Firm Size in Empirical Corporate Finance. Gill, B. S. (2011). Are Human Capital Costs Associated with Bankruptcy Large Enough to be A Disincentive For Unlisted Firms to Use More Debt? An Empirical Analysis. Ghent, Belgium. Graham, J. R., Kim, H., Li, S., & Jiaping, Q. (2013). Human Capital Loss In Corporate Bankruptcy. Washington US: Census Bureau Publication. Graham, J. R., Kim, H., Li, S., & Jiaping, Q. (2014). The Labor Impact of Corporate Bankruptcy: Evidence from Worker-Firm Matched Data. US: Census Bureau’s LEHD Program. Graham, J. R., Kim, H., Li, S., & Jiaping, Q. (2015). The Labor Impact of Corporate Bankruptcy. AFA, Census Bureau RDC. US. Korteweg, A. (2007). Cost of Financial Distress Across Industries. Chicago, Illenois: ProQuest Information and Learning Company. Kwon, & Dae-Bong. (2009). Human capital and its measurement. The 3rd OECD World Forum on Statistics, Knowledge and Policy Charting Progress, Building Visions, Improving Life. Busan, Korea. Loderer, C., & Waelchli, U. (2009). Firm Age and Performance. the XLII EWGFM meeting . Stockholm. McGuirk, H., Lenihan, H., & Hart, M. (2015). Measuring The Impact of Innovative Human Capital on Small Firms Propensity to Innovate. Research Policy, 44: 965-976. Montare, A. (2013). The Impact of Human Capital Loss on Reorganizations. Opler, T. C., & Titman, S. (1993). The Indirect Cost of Financial Distress. Texas: Southern Methodist University. Ozkan, A. (1996). Costs of Financial Distress and Capital Structure of Firms. University of York. Pindado, J., & Rodrigues, L. (2005). Determinants Of Financial Distress Costs. Financial Market and Portfolio Management, 19(4): 343-359. Platt, H. D., & Platt, M. B. (2006). Comparing Financial Distress and Bankruptcy. ssrn. Pratt, R. (2011). A Structural Model of Human Capital and Leverage. Duke University. Reimund, C., Schwetzler, B., & Zainhofer, F. (2003). Cost of Financial Distress: The German Evidence. ssrn. Roca-Puig, V., Beltrán-Martín, I., & Cipres, M. S. (2011). Combined effect of human capital, temporary employment and organizational size on firm performance. Personnel Review, 41(1): 4-22. Stroombergen, A., Rose, D., & Nana, G. (2002). Review of the Statistical Measurement of Human Capital. New Zealand: Statistics New Zealand. Tahir, T., & Fraz, A. (2015). Human Capital, Capital Structure, Employe Pay : Empirical Evidance From Pakistan. Global Journal Of Management and Business Research , 15(1):18-41. Wu, W., Wu, C., & Rui, O. M. (2010). Ownership and the Value Of Political Connections:Evidence from China. European Financial Management, 1-35.id_ID
dc.identifier.issn2615-1588
dc.identifier.urihttp://hdl.handle.net/11617/11803
dc.description.abstractPurpose: The important of human capital relation to firm financial distress still get limited attention, but there is some evidence that firm reduce the cost of human capital when its get a declining financial performance due to bankcruptcy. This study aims exploring the cost of financial distress determinant by human capital. Methodology: We use the data of manufacturing industry in Indonesia Stock Exchange (IDX) during 2011 – 2017. We use monetary approach for measuring human capital by income-base indicator i.e wage/salary and cost of financial distress measured by the difference of firm sales and industry sales. Furthermore, this study illustrates a tendency of cost of financial distress which controlled by firm size, firm age, and leverage. We analyze using static panel data and also doing robustness check as analysis completement. Results: The results find that human capital has positive significant impact to cost of financial distress and excess salary is a breakthrough of indicator for measuring human capital. Furthermore, the usage of firm size, firm age, and leverage as control variable, we find that larger and older firms able to more control their human capital against the cost of financial distress, thus, they can get the benefit of human capital increasing as their competitive strategy. Applications/Originality/Value: Based income indicator, exceess salary as measurement of human capital that built in this study supports the previous empirical studies in describing human capital’s impact to cost of financial distress. The results has practical implication that a firm should concern to welfare of employee as long as it does not exceed the firm’s revenue for avoiding firm’s bankruptcy. Furthermore, the goverment may should thinks about optimal standard of employee salary or wages in distressed firm according our finding of human capital role in firm costs.id_ID
dc.language.isootherid_ID
dc.publisherISETH 2019 (International Summit on Science, Technology, and Humanity)id_ID
dc.titleHow Does Human Capital's Impact to Cost of Financial Distress?id_ID
dc.typeArticleid_ID


Files in this item

Thumbnail

This item appears in the following Collection(s)

Show simple item record