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All Journal Management Studies and Entrepreneurship Journal (MSEJ) Community Development Journal: Jurnal Pengabdian Masyarakat
Farini Limbong
Universitas Duta Bangsa Surakarta
Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Health Professions Public Health

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Capital Structure Determinants In The Era Of Digital Economy: Evidence From Technology Firms Alfiana Alfiana; Klemens Mere; Farini Limbong
Management Studies and Entrepreneurship Journal (MSEJ) Vol. 7 No. 3 (2026): Management Studies and Entrepreneurship Journal (MSEJ)
Publisher : Yayasan Pendidikan Riset dan Pengembangan Intelektual (YRPI)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37385/msej.v7i3.10377

Abstract

The rapid evolution of the digital economy has reshaped the financial structure and strategic financing decisions of technology-based firms. This study investigates the determinants of capital structure among technology firms operating in the digital era, focusing on the interplay between traditional financial variables and new digital-driven factors. Using panel data from publicly listed technology companies between 2015 and 2024, this research applies multiple regression and fixed-effects models to examine the influence of firm size, profitability, asset tangibility, growth opportunities, liquidity, and digital innovation intensity on leverage ratios. The results indicate that while profitability and asset tangibility remain significant predictors consistent with pecking order and trade-off theories, digitalization level and intangible asset intensity introduce new dynamics in capital structure decisions. Firms with higher digital innovation and intangible assets tend to rely more on equity financing due to lower collateral values and greater market uncertainty. These findings provide empirical insights for investors, managers, and policymakers on optimizing capital structure strategies within the evolving context of digital transformation.
PEMBERDAYAAN MASYARAKAT DALAM PERENCANAAN KEUANGAN JANGKA PANJANG UNTUK KESEJAHTERAAN KELUARGA Sofyan Abas; Billy Dewantara; Farini Limbong; Fitrianingsih Amalo
Community Development Journal : Jurnal Pengabdian Masyarakat Vol. 7 No. 2 (2026): Vol. 7 No. 2 (2026)
Publisher : Universitas Pahlawan Tuanku Tambusai

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31004/cdj.v7i2.57683

Abstract

Kegiatan pengabdian kepada masyarakat ini bertujuan untuk meningkatkan literasi dan kemampuan masyarakat dalam perencanaan keuangan jangka panjang guna mendukung kesejahteraan keluarga. Permasalahan utama yang dihadapi masyarakat adalah rendahnya pemahaman dalam pengelolaan keuangan, kurangnya kebiasaan pencatatan keuangan, serta belum adanya perencanaan keuangan yang sistematis. Metode yang digunakan dalam kegiatan ini adalah pendekatan partisipatif melalui Participatory Action Research (PAR) yang meliputi tahapan sosialisasi, pelatihan, simulasi, dan pendampingan. Hasil kegiatan menunjukkan adanya peningkatan signifikan dalam pemahaman peserta terkait konsep dasar keuangan, serta perubahan perilaku keuangan yang lebih disiplin, seperti pencatatan keuangan, pengendalian pengeluaran, dan peningkatan kebiasaan menabung. Selain itu, peserta juga mampu menyusun rencana keuangan jangka panjang berbasis tujuan, meskipun masih menghadapi kendala pada aspek pendapatan dan konsistensi implementasi. Pendampingan yang dilakukan terbukti efektif dalam memperkuat keberlanjutan perubahan perilaku keuangan. Dengan demikian, kegiatan ini memberikan kontribusi nyata dalam meningkatkan kapasitas masyarakat dalam pengelolaan keuangan keluarga secara lebih terencana, yang pada akhirnya berpotensi meningkatkan kesejahteraan keluarga secara berkelanjutan.
Capital Structure Determinants In The Era Of Digital Economy: Evidence From Technology Firms Alfiana Alfiana; Klemens Mere; Farini Limbong
Management Studies and Entrepreneurship Journal (MSEJ) Vol. 7 No. 3 (2026): Management Studies and Entrepreneurship Journal (MSEJ)
Publisher : Yayasan Pendidikan Riset dan Pengembangan Intelektual (YRPI)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37385/msej.v7i3.10377

Abstract

The rapid evolution of the digital economy has reshaped the financial structure and strategic financing decisions of technology-based firms. This study investigates the determinants of capital structure among technology firms operating in the digital era, focusing on the interplay between traditional financial variables and new digital-driven factors. Using panel data from publicly listed technology companies between 2015 and 2024, this research applies multiple regression and fixed-effects models to examine the influence of firm size, profitability, asset tangibility, growth opportunities, liquidity, and digital innovation intensity on leverage ratios. The results indicate that while profitability and asset tangibility remain significant predictors consistent with pecking order and trade-off theories, digitalization level and intangible asset intensity introduce new dynamics in capital structure decisions. Firms with higher digital innovation and intangible assets tend to rely more on equity financing due to lower collateral values and greater market uncertainty. These findings provide empirical insights for investors, managers, and policymakers on optimizing capital structure strategies within the evolving context of digital transformation.
Co-Authors Alfiana Alfiana Alfiana BillY Dewantara Fitrianingsih Amalo Klemens Mere Sofyan Abas