Repository Universitas Pakuan

Detail Karya Ilmiah Dosen

Yudhia Mulya, Edhi Asmirantho

Judul : DETERMINAN STRUKTUR MODAL DAN KEPEMILIKAN ASING PADA PERUSAHAAN INFRASTRUKTUR DI BURSA EFEK INDONESIA
Abstrak :

DETERMINAN STRUKTUR MODAL DAN KEPEMILIKAN ASING PADA PERUSAHAAN INFRASTRUKTUR DI BURSA EFEK INDONESIA

Yudhia Mulya, Edhi Asmirantho

yudhia.mulya@yahoo.com, rantho.bs@gmail.com

Fakultas Ekonomi, Universtas Pakuan

Tujuan dari penelitian ini menganalisis determinan struktur modal yang terdiri dari assets tangibility, ukuran perusahaan, pertumbuhan, profitabilitas, pajak, usia perusahaan, dan kepemilikan pemodal asing. Penelitian dilakukan dengan menggunakan data panel pada perusahaan publik di sektor infrastruktur dalam periode 2011-2015. Model regresi panel digunakan dalam penelitian ini dengan metode fixed effect. Hasil penelitian menunjukkan bahwa asset tangibility dan ukuran perusahaan berpengaruh positif dan signifikan terhadap struktur modal. Sedangkan, profitabilitas dan umur perusahaan berpengaruh negatif dan signifikan terhadap struktur modal. Hasil ini medukung pecking order theory dimana perusahaan yang memiliki profit tinggi dan memiliki umur lebih lama cenderung menggunakan dana internal daripada menambah hutang. Sementara, pertumbuhan,tarif  pajak efektif, dan struktur kepemilikan pemodal asing tidak memiliki pengaruh terhadap struktur modal

Tahun : 2017 Media Publikasi : prosiding
Kategori : Prosiding No/Vol/Tahun : 9 / 1 / 2017
ISSN/ISBN : 9786028557313
PTN/S : Universitas Pakuan Program Studi : MANAJEMEN
Bibliography :

DAFTAR PUSTAKA

Acaravci, Songul Kakilli (2015). The Determinants of Capital Structure: Evidence from the Turkish Manufacturing Sector. International Journal of Economics and Financial Issues. Vol 5, No. 1, pp.158-171. ISSN: 2146-4138.

Ahmad, Noryati, and Yon Bahiah Wan Aris (2015). Does Age of The Firm Determine Capital Structure Decision? Evidence from Malaysian Trading and Service Sector. International Business Management 9 (3). ISSN: 1993-5250.: 200-207.

Arsov, Sasho and Aleksandar Naumoski.   (2014). Determinants of Capital Structure: An Empirical study of companies from selected post-transition economies. Zbornik radova Ekonomskog fakulteta u Rijeci/Proceedings of Rijeka Faculty of Economics. Vol. 34. No. 1: 119-146.

Bauer, Patrick. (2004). Determinants of Capital Structure. Empirical Evidence from the Czech Republic. Czech Journal of Economics and Finance, 54,: 1-2.

Biorck, Jonas and Axel Lagercrantz  (2011). An Empirical Study of Differences between Swedish SMEs and Large Firms. Stockholm School of Economics. Bachelor Thesis in Finance.

Brealey, Richard A. and Stewart C. Myers (1996). Principles of Corporate Finance. 5th Edition. Cengage Learning.

Brigham, Eugene F. and Houston. (2014). Essentials of Financial Management. 3th Edition. Thomson South-Western.

Cortez, Michael, and Susanto Stevie (2012). The Determinants of Corporate Capital Structure: Evidence From Japanese Manufacturing Companies. Journal of International Business Research. Vol. 11. Special Issue. No. 3: 121-134.

Fisseha, Kibrom Mehari (2010). Determinants of Capital Structure Evidence from Commercial Banks in Ethiopia. Master Thesis. Mekelle University.

Gurunlu, Meltem and Guner Gursoy (2010). The Influence of Foreign Ownership on Capital Structure of Non-Financial Firms: Evidence from Istanbul Stock Exchange. The IUP Journal of Corporate Governance, Vol. IX. No. 4: pp. 21-29.

Harrison, Barry and Theodorus Wisnu Widjaja  (2014). The Determinants of Capital Structure: Comparison between Before and After Financial Crisis. Economic Issues, Vol. 19,   Part 2: 55-82.

Jantarakolica, Tatre and Wattana Sakayachiwakit (2015). Determinants of Optimal Capital Structural of ASEAN Corporations. Review of Integrative Business & Economics Research. Vol 4 (3). ISSN: 2304-1013: 207-215.

Le, Thi Phuong Vy and Kathy Tannous (2016). Ownership Structure and Capital Structure: A Study of Viatnamese Listed Firms. Australian Economic Papers. Vol 55, Issue 4. ISSN: 1467-8454: 319 – 344.

Murhadi, Werner Ria (2011). Determinan Struktur Modal: Studi di Asia Tenggara. Jurnal Manajemen dan Kewirausahaan. Vol. 13. No. 2: 91-98.

Manurung, Adler Haymans (2011). Determinan Struktur Kapital Perusahaan di Indonesia. Jurnal Akuntansi FE Universitas Tarumanegara. Vol. XV. No. 3: 250 – 261.

Nurrohim KP, Hasa (2008). Pengaruh Profitabilitas, Fixed Asset Ratio, Kontrol Kepemilikan dan Struktur Aktiva terhadap Struktur Modal Pada Perusahaan Manufaktur di Indonesia. Sinergi. Vol. 10 No. 1. ISSN 1410 - 9018: 11 – 18.

Primadhanny, Risty (2016). Pengaruh Struktur Kepemilikan Terhadap Struktur Modal Pada Perusahaan Sektor Pertambangan yang Tercatat di BEI Periode 2010-2014. Jurnal Ilmu Manajemen Voume 4 Nomor 3. Fakultas Ekonomi Universitas Surabaya.

Rahmiati, Abel Tasman, dan Yulira Melda. (2015). Pengaruh Profitabilitas dan Ukuran Perusahaan Terhadap Struktur Modal Perusahaan Property dan Real Estate yang Terdaftar di Bursa Efek Indonesia Tahun 2010-2013. Proceeding Seminar Nasional Ekonomi Manajemen dan Akuntansi (SNEMA) FE Universitas Padang. ISBN: 978-602-17129-5-5: 325-333.

Rajan, Raghuram G., and Luigi Zingales. (1995). What Do We Know about Capital Structure? Some Evidence form International Data. The Journal of Finance, Vol 50. No. 5. Pp. 1421-1460.

Utami, Siti Rahmi (2012). Determinants of Capital Structure of Firms in the Manufacturing Sector of Firms in Indonesia. Dissertation. Maastricht School of Management.

Weston, J. Fred and Thomas E. Copeland (1992). Managerial Finance. Ninth Edition. The Dryden Press. ISBN 10: 0030558832.

Zerriaa, Mouna and Hedi Noubbigh (2015). Determinants of Capital Structure: Evidence from Tunisian Listed Firms. International Journal of Business and Management; Vol. 10. No. 9. ISSN 1833-3850: 121-135

URL : https://drive.google.com/file/d/1KVF_Tt3aJlP1BfCkeEBVGzjbFuBjVOVq/view

 

Document

 
back