Simatupang, Hotman Jefferson (2019) Determinan Struktur Modal Berdasarkan Pecking Order Theory dan Trade off Theory. Magister thesis, Universitas Brawijaya.
Abstract
Penelitian ini bertujuan untuk mengetahui pengaruh antara profitabilitas, pertumbuhan penjualan, non debt tax shield, tangibility of asset, dan surplus pendanaan terhadap struktur modal pada perusahaan non keuangan yang terdaftar di Bursa Efek Indonesia (BEI) periode tahun 2014-2017. Metode penelitian yang digunakan adalah kausal komparatif (Causal-Comparative Research) dengan sampel yang diteliti yaitu 154 perusahaan non keuangan yang mengalami surplus pendanaan. Teknik pengambilan sampel yang digunakan yaitu Purposive sampling. Hasil penelitian ini menunjukkan bahwa non-debt tax shield tidak berpengaruh terhadap struktur modal perusahaan. Selain itu, pertumbuhan penjualan, Tangibility assets, dan surplus pendanaan memiliki pengaruh yang positif terhadap struktur modal, sedangkan profitabilitas memiliki pengaruh negatif terhadap struktur modal.
English Abstract
Determining the decision of the company capital structure is a very important thing because it influences the development of resources potency and the sustainability of a company. Related to taking decision of the capital structure, there is still different perception so far between pecking order theory and trade off theory. This research aims to know the effect of profitability, sales growth, non debt tax shield, tangibility of assets, and funding surplus towards the capital structure of non financial companies listed in Indonesia Stock Exchange (BEI) period 2014-2017. The research method used was Causal-Comparative Research with samples investigated were panel data of 154 non financial companies experiencing funding surplus with total observation in the amount of 616. The result of this research shows that non-debt tax shield and growth sales do not have effect towards company capital structure. Beside that, funding surplus has positive effect towards the capital structure, while profitability and tangibility assets have negative effect towards the capital structure.
| Item Type: | Thesis (Magister) |
|---|---|
| Identification Number: | TES/332.041/SIM/d/2019/041902112 |
| Uncontrolled Keywords: | Pecking order theory, Struktur modal, Trade off theory |
| Subjects: | 300 Social sciences > 332 Financial economics > 332.04 Special topics of financial economics > 332.041 Capital |
| Divisions: | S2/S3 > Magister Akuntansi, Fakultas Ekonomi dan Bisnis |
| Depositing User: | Endang Susworini |
| Date Deposited: | 28 Jul 2022 02:52 |
| Last Modified: | 28 Jul 2022 02:52 |
| URI: | http://repository.ub.ac.id/id/eprint/192833 |
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