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"This study aims to determine the formation of optimal capital structure in food and beverage sector companies on the Indonesian stock
exchange during the period 2013-2017. Analysis was carried out on profitability, dividend policy, company size, and SWOT model through analysis of
strengths, weaknesses, opportunities and threats and became the basis for formulating various alternative strategies that can be done by company
managers. The findings explain the fact that profitability has not been maximized, debt ownership is large and less efficient, but consistent in the
provision of dividends, as well as the size of large companies. Alternalitive choice of strategies in the form of dividends to enhance the company's
positive image, expand business networks with large capital strength, maximize domestic resource potential, produce products efficiently, use debt
capital efficiently, and improve the quality of all company resources.
must be done to achieve a good level of financial efficiency. The sampling technique uses purposive sampling method and produces 11 (eleven)
companies as research samples. Data analysis techniques used are Data Envelopment Analysis (DEA) to measure the level of financial efficiency of
coal companies for 2015-2016, and SWOT analysis to determine the strategies that must be carried out by the company. Based on the results of data
analysis, it was found that 10 (ten) coal companies were efficient in 2015, then 9 (nine) efficient companies in 2016. The strategy that must be applied by
coal companies to obtain good financial efficiency based on SWOT analysis matrix must use aggressive strategies (quadrant 1). The strategy that must
be done is to maintain good efficiency and calculate the exact costs associated with US$ currency. In addition, the company must also increase EPS to
increase investor confidence. Another strategy is to increase production volumes for coal exports to importing countries and increase exports so that
revenue and total assets increase with the strengthening of US$ and hedging to anticipate price fluctuations and the exchange rate of Rupiah to US$ by
making a payment agreement contract." |
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