Determinan Struktur Modal : Studi Empiris Pada Perusahaan Publik di Indonesia  

Oleh:

Paramu, Hadi

Jenis: Article from Journal - ilmiah nasional - tidak terakreditasi DIKTI
Dalam koleksi: Manajemen Usahawan Indonesia vol. 35 no. 11 (Nov. 2006), page 48-55.
Topik: modal; company characteristics; ownership; agency cost; capital structure

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: MM15.27 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

Lihat Detail Induk

Isi artikel

The research comprises an emprical study on capital structure on public companies in indonesia. It aimed at : 1. examining how company characteristics in various sectors in indonesia influence the capital structure decision, and 2. analysing whether the influence of company characteristics on capital structure differs across sectors. The research applied purposive sampling method in determining sectors and companies as research samples. Based on the method, six sectors and 152 companies were included in the research. The research applied multiple regression analysis using lagged independent variables and chow test to answer first and second objective respectively. Based on the financial reports 1998 - 2002, the result showed that simultaneously, company characteristics in the previous period influence significantly on the capital structure in the current period. Partially the influence of company characteristics varied across the sectors. The research found an onconsistency in the influence of capital structure determinants in various sectors in two ways. The result of chow test showed that company characteristics in sectors analised has a different influence on the capital stucture decision. This indicates that capital structure decision has been influenced also by sectors' characteristics aggregately.

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