Determinan Struktur Modal Dalam Perspektif Pecking Order Theory Dan  Agency Theory

Umdiana, Nana; Tivana, Shifa

doi:10.15408/akt.v13i2.17337

Cited by 7 publications

(5 citation statements)

References 2 publications

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“…Namun hal tersebut bertentangan dengan penelitian yang dilakukan oleh Indrahaya dalam Ria dan Lestari (2015) yang menyatakan bahwa resiko bisnis berpengaruh positif tidak signifikan terhadap struktur modal, selain itu Nuswandari (2013), menunjukan bahwa resiko bisnis bisa memiliki pengaruh negatif dan signifikan terhadap struktur modal.…”

Section: Latar Belakangunclassified

Ukuran Perusahaan, Resiko Bisnis, dan Growth Opportunity sebagai Faktor Penentu Struktur Modal

Aisya Augestaryani,

Dyah Utari Ratnaning Andini,

Dwi Lesno Panglipursari

2024

JIPM

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This study aims to examine and analyze the effect of Ukuran perusahaan, Business Risk, and Growth Opportunity on capital structure. The research object used was a manufacturing sector that consumed the food and beverage sub-sector listed on the Indonesia Stock Exchange in 2020-2023. This study uses a purposive sampling technique in determining research samples. The number of companies selected as research samples is 10 companies from 26 companies registered in the consumer goods sector. This research includes the type of explanatory research using a quantitative approach. The data analysis method used in this study is multiple linear regression analysis. Research results show that simultaneous Ukuran perusahaan, Business Risk, and Growth Opportunity have a significant effect on capital structure. While partially ukuran perusahaan and growth opportunity have no significant effect on capital structure, and business risk has a significant effect on capital structure.

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Section: Latar Belakangunclassified

Ukuran Perusahaan, Resiko Bisnis, dan Growth Opportunity sebagai Faktor Penentu Struktur Modal

Aisya Augestaryani,

Dyah Utari Ratnaning Andini,

Dwi Lesno Panglipursari

2024

JIPM

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“…Struktur aktiva dapat dihitung menggunakan rumus FAR (Fixed Asset Ratio). Rumus FAR (Fixed Asset Ratio) adalah sebagai berikut, (Umdiana & Tivana, 2020) :…”

Section: Aktiva Tidak Lancar (Aktiva Tetap)unclassified

Pengaruh Risiko Bisnis Dan Struktur Aktiva Terhadap Struktur Modal Pada Perusahaan Manufaktur Sektor Industri Dasar Dan Kimia Yang Terdaftar Di Bursa Efek Indonesia Tahun 2018-2020

Resti Anggraini,

Wahyu Indah Mursalini,

Esi Sriyanti

2023

Transformasi

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This research aims to analyze the effect of Business Risk and Asset Structure on the Capital Structure of Manufacturing Companies in the Basic and Chemical Industry Sector listed on the Indonesia Stock Exchange. The sample in this study were 35 basic and chemical industry sector companies listed on the Indonesia Stock Exchange using the Purposive Sampling method for the 2018-2020 period. Based on multiple linear regression analysis, the variables of Business Risk and Asset Structure have an effect on Capital Structure with the equation Y = 2,968 – 7,865X1 – 2,355X2 + e. From the t-test, it was found that the variable X1 Business Risk had a significant effect on the Capital Structure with t count value is [-7,171] > t table [1,983] and sig 0,000 < 0,05. Then H1 is accepted. Variable X2 Asset Structure had a significant effect on Capital Structure with t count value is [-4,988] > t table [1,983] and sig 0.000 <0.05. Then H2 is accepted. From the F test, it was found that Business Risk and Asset Structure have a simultaneous effect on Capital Structure with f count [32,694] > f table 3,090 and a significance 0,000 < 0,05. Then H3 is accepted. From the coefficient of determination test the value of R square is 0.391. This means that the independent variables of Business Risk and Asset Structure affect the Capital Structure by 39.1% while the remaining 60.9% is influenced by other variables.

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“…Capital structure, according to Riyanto (2011), is an ongoing expense that indicates the ratio of long-term debt to own capital [12]. Nuswandari (2013) asserts that capital structure refers to the proportion of funds coming from stock and debt. A company's capital structure refers to the ratio or balance between the amount of capital and debt used to finance its operating activities [13].…”

Section: Pecking Order Theorymentioning

confidence: 99%

“…Nuswandari (2013) asserts that capital structure refers to the proportion of funds coming from stock and debt. A company's capital structure refers to the ratio or balance between the amount of capital and debt used to finance its operating activities [13].…”

Section: Pecking Order Theorymentioning

confidence: 99%

Do Firm Size and Asset Structure Effect Capital Structure Through Firm Profitability? Evidence from Coal Mining Industry

Purbasari,

Nurhayati,

Suhaeni

2023

Proceedings of the International Conference on Sustainability in Technological, Environmental, Law, Management, Social and Econ

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This study examines mediating role of profitability on the relationship between firm size and asset structure and capital structure in Coal Mining industry from the Indonesia Stock Exchange (IDX) listed firms. Total sample of current study represented by 13 companies with 130 firm-year observations from 2010-2019. The results of this study indicate that: (1) firm size has a positive and significant effect on capital structure (2) asset structure has a positive and significant effect on capital structure (3) profitability has a significant and negative effect on capital structure, (4) firm size has no negative and insignificant effect on profitability, (5) asset structure has no negative and insignificant effect on profitability. Profitability is not able to mediate the effect of firm size and asset structure on capital structure. The results of the study are expected to provide insight to investors in viewing financial statement from various aspect, not only judging from the size of the company size and asset structure, so that the information obtained by investors is more accurate in assessing the company's prospects and determining investment.

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Determinan Struktur Modal Dalam Perspektif Pecking Order Theory Dan Agency Theory

Cited by 7 publications

References 2 publications

Ukuran Perusahaan, Resiko Bisnis, dan Growth Opportunity sebagai Faktor Penentu Struktur Modal

Ukuran Perusahaan, Resiko Bisnis, dan Growth Opportunity sebagai Faktor Penentu Struktur Modal

Pengaruh Risiko Bisnis Dan Struktur Aktiva Terhadap Struktur Modal Pada Perusahaan Manufaktur Sektor Industri Dasar Dan Kimia Yang Terdaftar Di Bursa Efek Indonesia Tahun 2018-2020

Do Firm Size and Asset Structure Effect Capital Structure Through Firm Profitability? Evidence from Coal Mining Industry

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