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Debt as one source of external funding became something attractive for company for doing restructuration of capital and developing their business operation beside their own capital. The goal of this research is to compare determinants of capital structure decision in Indonesian pharmaceutical compan...
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| Format: | Final Project |
| Language: | Indonesia |
| Online Access: | https://digilib.itb.ac.id/gdl/view/13977 |
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| Institution: | Institut Teknologi Bandung |
| Language: | Indonesia |
| Summary: | Debt as one source of external funding became something attractive for company for doing restructuration of capital and developing their business operation beside their own capital. The goal of this research is to compare determinants of capital structure decision in Indonesian pharmaceutical companies and German pharmaceutical companies and also to discover whether firm-level characteristic, such as competitive strategy based on new innovation paradigm, will impact capital structure decision. This research also willing to determine the main differences within developing countries decision in capital structure towards more developed countries. The differences between Indonesian and German pharmaceutical industries rose, as Indonesian pharmaceutical companies are mostly a domestic company with business basis still covered up inside the country, while German pharmaceutical companies are international companies that have been involved in international business collaboration and business has been basis on global economy relation. Indonesian pharmaceutical companies also differed from German pharmaceutical companies in development of drugs. While almost all of German companies invented medicine in their own fabrics, only small amount of Indonesian pharmaceutical companies are conducting their own drugs development in Indonesia due to licensed contract with bigger industrial countries are found more profitable than conducting a drug research in Indonesia. |
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