PENENTUAN PERILAKU KEBIJAKAN STRUKTUR MODAL PADA PERUSAHAAN MANUFAKTUR DI BURSA EFEK INDONESIA

Suranta, Eddy and Mediastuty, Pratana Puspa and Tampubolon, Minarti Megasari (2014) PENENTUAN PERILAKU KEBIJAKAN STRUKTUR MODAL PADA PERUSAHAAN MANUFAKTUR DI BURSA EFEK INDONESIA. Jurnal Akuntansi dan Keuangan, 1 (1). pp. 63-78. ISSN 2301-4717

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Abstract

Financing resource is very important to support firm activities. A number of theories have been proposed to explain financing behavior in companies. This research aims to examine two capital structure theories, static trade offand pecking order th€ory to explain financing behavior of companies that listed in BEI, specially manufacturing industries. Sample was determined using purposive sampling method. The final sample comprises 97 companies from manufacturing industries that listed in BEI for the 2004 through 2008. There are two hypotheses examined in this research. Researcher used linear regression to test all hypotheses. The results of this research support second hypothesis where target debt showing result positive and significantly. The results ofthis study show that manufacturing industries tend to use static trade offcompared to pecking order theory in decision financing.

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