Repository Universitas Pakuan

Detail Karya Ilmiah Dosen

Arief Tri Hardiyanto, Noer Azam Achsani, Roy Sembel, Nur Ahmad Maulana

Judul : Ownership and Determinants Capital Structure of Public Listed Companies in Indonesia: A Panel Data Analysis
Abstrak :

Capital structure is a mix of debts and equities used by a company to
finance its investment. Debt offers benefit of tax shield from interest
expenses that can be deducted in calculating company income
tax. Unfortunately, company can not use debts in unlimited amount
because it will lead to risk of bankcrupt. Therefore, company needs to
establish a target (unobserved) capital structure which will optimize
the value of the firm. The purpose of this study is to investigate the
determinant of capital structure and ownership in public listed
companies in Indonesia Stock Exchange using Time-Series Cross-
Section Regression (TSCSREG) and supported with a balanced panel
data. Data used are financial statements of 228 public listed companies
from group of eight industry sectors. Research finding confirms that tax
shield and fixed financial burden are significantly influence the capital
structure and state ownership also significantly influence the capital
structure of the state owned enterprises.

Tahun : 2013 Media Publikasi : Jurnal Internasional
Kategori : Jurnal No/Vol/Tahun : 1 / 6 / 2013
ISSN/ISBN : 2089-6271
PTN/S : Universitas Pakuan Program Studi : AKUNTANSI
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