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Capital Structure in the Context of Taxation and Financial Access: A Theoretical Synthesis Mujiyati, Mujiyati; Imronuddin, Imronuddin; Setyawan, Anton Agus
International Journal of Management Science and Information Technology Vol. 6 No. 1 (2026): January - June 2026
Publisher : Lembaga Otonom Lembaga Informasi dan Riset Indonesia (KITA INFO dan RISET) - Lembaga KITA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35870/ijmsit.v6i1.6856

Abstract

This study examines the evolution and integration of capital structure theories and their implications for firm value, with emphasis on taxation and financial access in emerging markets. It applies a systematic literature review supported by bibliometric analysis and narrative synthesis. The article selection process followed PRISMA guidelines, covering identification, screening, eligibility assessment, and final inclusion. Articles were collected from Scopus and ScienceDirect using keywords related to capital structure, taxation, tax shield, financial access, financing constraints, firm value, and emerging markets. The final corpus was analyzed through keyword co-occurrence, thematic mapping, thematic evolution, co-citation analysis, bibliographic coupling, and qualitative narrative synthesis. The findings show that capital structure research has shifted from a static optimality perspective toward a more contextual and institutionally grounded framework. Although debt financing may enhance firm value through tax shields, these benefits are often constrained by information asymmetry, limited external finance, and institutional pressures. The results indicate that taxation and financial access should not be treated as separate determinants, but as interrelated mechanisms shaping corporate financing decisions. The study contributes by developing an integrative theoretical synthesis linking classical capital structure theories with taxation, financial access, agency conflicts, and institutional context in emerging markets, particularly Indonesia.
Mengukur Pengaruh Kualitas Pelayanan Terhadap Kepuasan dan Loyalitas Pengguna Perpustakaan UMS Ryan Agung Pangestu; Anton Agus Setyawan
WACANA EKONOMI (Jurnal Ekonomi, Bisnis dan Akuntansi) Vol. 23 No. 1 (2024)
Publisher : Universitas Warmadewa

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22225/we.23.1.2024.101-108

Abstract

This research aims to evaluate the impact or effects of effect of Service, information control, and the Library as a Place on the satisfaction and loyalty of library users. The samples in this test were active students and users who utilized library services at the Muhammadiyah University of Surakarta. Sampling was done using a purposive sampling technique to obtain a total of 150 respondents. The data management is carried out using the SmartPLS 3.0 statistical calculation tool and it can be stated that the effect of Service, Information Control, and Library as Place has a significant effect and has a positive impact on user satisfaction and loyalty so the hypothesis can be accepted.
Downy User Loyalty: The Influence of Brand Attractiveness, Experience, Trust, and Satisfaction Rahmawati, Auliyya Ayu; Setyawan, Anton Agus
Studi Akuntansi, Keuangan, dan Manajemen Vol 5 No 4 (2026): April
Publisher : Penerbit Goodwood

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/sakman.v5i4.5839

Abstract

Purpose: This study analyzes the influence of brand attractiveness, brand experience, brand trust, and brand satisfaction on brand loyalty toward Downy fabric softener goods sold in Indonesia. Methodology/approach: This investigation employed a numerical methodology, delivering surveys to 150 Downy users 17 years of age or older, who had experience with the product for at least three months. Purposive sampling was applied, and the data were examined using SPSS, employing validity and reliability assessments alongside multiple linear regression analysis. Results: The results suggest that brand attractiveness, experience, and satisfaction positively and significantly affect brand loyalty. Brand satisfaction is the most influential factor, even though faith in the brand does not notably shape loyalty. These findings highlight that consumer loyalty is more strongly driven by satisfaction and direct product experience than by trust. Conclusions: The study concludes that in the fabric care industry, customer loyalty is primarily formed through positive experience and high satisfaction. Theoretically, these findings position brand trust as a supporting factor rather than a direct driver of loyalty. Limitations: This study is limited to one brand and selected variables; it is advisable that subsequent investigations broaden their focus to include different brands and additional determinants. Contributions: This study offers empirical insights into the key determinants of brand loyalty in the fabric care industry, emphasizing the dominant role of brand satisfaction compared to other brand-related factors.
Co-Authors A.A. Ketut Agung Cahyawan W Acreta, Fitriyah Handayani Adelia Febriyanti Adelia Rahmawati Adisty, Syahva Salsabila Putri Agata, Celci Agripina Agusto, Richie Dwi Aisyah Putri Agustin Ali Imron Ananda Ricky Faturohman Anggita Rosiyani Anggun, Nita Putri Annastasya Zulfa Rosada Ar Royan, Halim Muhammad Azzahra, Gezha Meisya Candra Kusuma Wardana, Candra Kusuma Cantika Widi Pramesti Daniel Lafrinda, Dendyto Dea Pradita Kumalasari Dendyto Daniel Lafrinda Dhewi, Elsa Riliana Hantika Didi Junaedi Didit Aditya Edy Purwo Saputro Eka Prasetya, Dimas Farid Adi Prasetya Fatchurrohman Fatchurrohman Fatchurrohman Fatchurrohman, Fatchurrohman Febrianti, Bella Febriyanti, Adelia Fikri, Emawan Noor Guntoro, Amed Gatut Hafidh Rozziq Attaqi Haliza, Anissya Nur Helmi Imaduddin Henri Dwi Wahyudi, Henri Dwi Ihwan Susila Imron, I Imronuddin Imronuddin, Imronuddin Ivany, Aprilia Dwi Jati Waskito Karina Thalita Adhani Kurniawan, Fery Indra Kussudyarsana Kusuma, Candra L. Lisnawati Leny Widio Wati M, Adiyono M. Farid Wajdi M. Sholahuddin Ma'ruf Ma'ruf Ma'ruf, Ma'ruf Maharani, Diva Putri Mahardika, Menang Moechammad Nasir Muh Ilham Fikri Fathoni Muhamad Mustofa Muhammad Aditya Prayogo Muhammad Arkan Setyawan Muhammad Halim Maimun Muhammad Ilham Atha Abhinaya Muhammad Ilham Maulana Muhammad Randhy Kurniawan Muhammad Reza Mujiyati Muna, Khanna Nailil Murti, Anggun Cempaka Murti, Nala Puspita Muzakar Isa Nabila Putri Sayekti Nafisa Mukarromah Chaliloeddin Nandita, Wanda Vidya Novel Idris Abas Nugroho, SP Nurmahendra, Putra Nurul Aini Widiyastuti Oktavia Wulandari Pangestu, Ryan Agung Pasya Istiara Dhea Pradigda, Fadel Muhammad Pramuji, Iddo Ahmad Praswati, Aflit Nur Yulia Prayogo, Muhammad Aditya Puro, Intan Widia Puspitawati, Nia Riska Putra Nurmahendra Putri Silvia Istiqomah Putri, Natasya Andini Rahardo Suprapto, Madya Rahmat Basuki Rahmawati, Auliyya Ayu Ram Vemuri Rini Kuswati Rohmadi Tri Susilo Romaniyanto, Romaniyanto RR. Ella Evrita Hestiandari Rustianingsih, Septi Ryan Agung Pangestu Sadewa, Aldy Bagas Safari Wahyu Jatmiko Saraswati, Astrid Sari, Rizki Juwita Setyawan, Ari Bambang Setyawan, M Arkan Setyawan, Ridwan Sidiq Permono Nugroho Siska Kumalasari Siti Rahmawati Siti Soekiswati Soepatini SP Nugroho Sri Padmantyo Sumarwoto, Tito Syamsudin Syamsudin Syamsudin Syamsudin Syamsudin Syamsudin Syamsudin Syamsudin Syihabuddin, Muhammad Veriansyah, Satria Wahyono Wahyono Wahyono Wahyono Wahyuddin, M. Wijayanti Wiyaning Putri, Angie Wulandari, Oktavia Yuliyanti, Wanda Tri Yusuf Alam Romadhon