Analisis Perbandingan Biaya Modal hutang Jangka Pendek dengan Prinsip Konvensional dan Prinsip Syariah (Studi Kasus: PT. Trihasta Pratama)
| Main Authors: | , Febrianti Dwintasari, , Prof. Dr. Marwan Asri, M.B.A. |
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| Format: | Thesis NonPeerReviewed |
| Terbitan: |
[Yogyakarta] : Universitas Gadjah Mada
, 2013
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| Subjects: | |
| Online Access: |
https://repository.ugm.ac.id/119112/ http://etd.ugm.ac.id/index.php?mod=penelitian_detail&sub=PenelitianDetail&act=view&typ=html&buku_id=59103 |
Daftar Isi:
- Decisions in determining the source of funding is an important decision as it relate to cost of capital. Every company wants a minimum cost of capital in order to gain the maximum profit. One source of funding that comes from outside the company is short-term debt to the bank. In Indonesia there are two banking systems, they are conventional principles and Islamic principles. The difference of these principles is the rate of return to the bank. The return in conventional bank is interest rates, while in a Islamic banks is the ratio agreed previously. The difference of these principles, encourage researcher to find out which principles is more profitable for the company on the view of cost of capital. This research is a case study in PT. Trihasta Pratama that only examined the difference of cost of debt on both banking system. The data that is used in this study are secondary data in the form of balance sheet and income statement of PT. Trihasta Pratama and description of the project which will be done by that company. Analytical methods that are used are financial ratio, net operating working capital, cost of debt and the return of profit/loss sharing. The results of this study indicate that the cost of debt in an Islamic bank is more profitable than the cost of debt in a conventional bank. If a company lends money from an Islamic bank, the cost of debt is 8.85%, whereas if the company lend from a conventional bank, the cost of debt is 9%. This is due to in a Islamic bank there are risk sharing between company and bank, while in a conventional bank the risk will be guaranteed by the company.