| Intense competition in the era of globalization requires companies to have a competitive advantage against its competitors. One way of gaining competitive advantage is by possessing an optimal capital structure. For this reason, the demand of reexamining a company’s capital structure determinants arises and is captured by the researcher. The researcher select five factors to reexamine in this research. Those factors include size, growth, profitability, non-debt tax shield, and asset structure. The result of this research showed a positive impact of size, growth, and non-debt tax shield to the company’s capital structure, while profitability and asset structure has negative impact to the company’s capital structure. All five independent variable have significant impact to the company’s capital structure. Limitations in this research lead to the need of re-testing with broader coverage of the period and scope of business, additions to the number of companies examined, and additions of new independent variables, preferably dummy / nonratio variables. |