Determinasi Capital Structure Pada Perusahaan Manufaktur di Bursa Efek Jakarta Periode 2000-2004  

Oleh:

Indrawati, Titik ; Suhendro

Jenis: Article from Journal - ilmiah nasional - terakreditasi DIKTI
Dalam koleksi: Jurnal Akuntansi dan Keuangan Indonesia vol. 3 no. 1 (Jul. 2006), page 77-106.
Topik: Asymmetry Information; Agency Theory; Pecking Order Theory
Fulltext: AA71_03-01_Titik Indrawati Suhendro.pdf (820.06KB)

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: AA71.2 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

This study attempts to analyze the determinants of capital structures in the Indonesian manufacturing industry from 2000 to 2004. Empirical hypotheses, drawn from five independent variables are tested against a sample of 49 firms or a cross sectional data. The results show that only In total asset (size), net operating income (NOI), and return on asset (ROA) affect long-term debt to total asset (leverage). It finds a positive relation between leverage and In total asset, a negative relation between leverage and profitability (NOI and ROA). Delta sales (growth) and ownership structure have no effect on leverage. These findings are stable in 2000 through 2004.

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