Analisis Struktur Modal Perusahaan Non Keuangan: Pendekatan Teori Keagenan, Pecking Order, dan Trade-Off
This study aimed to analyze how fit behavioral capital structure in Indonesian non financial company with theory of capital structure. The theory of capital structure consist of agency theory, pecking order theory, dan trade- off theory. Institusional ownership and liquidity firm to be proxy o...
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| Format: | Thesis |
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[Yogyakarta] : Universitas Gadjah Mada
2013
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| Summary: | This study aimed to analyze how fit behavioral capital structure in
Indonesian non financial company with theory of capital structure. The
theory of capital structure consist of agency theory, pecking order theory,
dan trade- off theory. Institusional ownership and liquidity firm to be proxy
of agency theory. Profitability firm and firm size to be proxy of pecking
order theory. Free cash flow and fixed assets to be proxy of trade off
theory.
This study used quantitative approach with secondary data, and to
determine sample by purposive method sampling. Statistical tool used in
this study is multiple regression.
This study found that firm liquidity has significant and negative
influences to capital structure (long term debt) and profitability have
significant and negatif influence to capital structure (total debt). It is
proven that agency the ory and pecking order fit with behavioral capital
structure in Indonesian non financial company. |
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