IDENTIFIKASI VARIABEL PENENTU STRUKTUR MODAL DAN ADJUSTMENT TO TARGET CAPITAL STRUCTURE: TRADE-OFF THEORY

IDENTIFIKASI VARIABEL PENENTU STRUKTUR MODAL DAN ADJUSTMENT TO TARGET CAPITAL STRUCTURE: TRADE-OFF THEORY

The purpose of this paper was to test the trade-off theory of capital structure. We started with identifyingvariables that influenced capital structure. Partial Adjustment Model used in this study was to test adjustmentto target capital structure. Based on a sample of non-financial Indonesian listed...

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Main Authors: C. Ambar Pujiharjanto, Nilmawati Nilmawati, R. Hendri Gusaptono
Format: Article
Language:English
Published: Universitas Merdeka Malang 2017-03-01
Series:Jurnal Keuangan dan Perbankan
Subjects:
adjustment to target capital structure, trade-off theory of capital structure,
Online Access:http://jurnal.unmer.ac.id/index.php/jkdp/article/view/815
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spelling doaj-5fdb762022f24b95ac33d483eaf292e92020-11-24T23:21:00ZengUniversitas Merdeka MalangJurnal Keuangan dan Perbankan1410-80892443-26872017-03-01183540IDENTIFIKASI VARIABEL PENENTU STRUKTUR MODAL DAN ADJUSTMENT TO TARGET CAPITAL STRUCTURE: TRADE-OFF THEORYC. Ambar Pujiharjanto0Nilmawati Nilmawati1R. Hendri Gusaptono2Prodi Manajemen Fakultas Ekonomi Universitas Pembangunan Nasional ‘Veteran’ Yogyakarta Jl. SWK Lingkar Utara No.104, Condongcatur, Yogyakarta, 55283, Indonesia.Prodi Manajemen Fakultas Ekonomi Universitas Pembangunan Nasional ‘Veteran’ Yogyakarta Jl. SWK Lingkar Utara No.104, Condongcatur, Yogyakarta, 55283, Indonesia.Prodi Manajemen Fakultas Ekonomi Universitas Pembangunan Nasional ‘Veteran’ Yogyakarta Jl. SWK Lingkar Utara No.104, Condongcatur, Yogyakarta, 55283, Indonesia.The purpose of this paper was to test the trade-off theory of capital structure. We started with identifyingvariables that influenced capital structure. Partial Adjustment Model used in this study was to test adjustmentto target capital structure. Based on a sample of non-financial Indonesian listed firms from 2008 to 2012, wefound liquidity, profitability, tangible asset, growth, and cash flow influenced the use of debt on the firm. Theresults of the test Speed of Adjustment (SOA) with Partial Adjustment Model showed the inconsistency of theDynamic Trade-Off Theory.http://jurnal.unmer.ac.id/index.php/jkdp/article/view/815adjustment to target capital structure, trade-off theory of capital structure,
collection DOAJ
language English
format Article
sources DOAJ
author C. Ambar Pujiharjanto
Nilmawati Nilmawati
R. Hendri Gusaptono
spellingShingle C. Ambar Pujiharjanto
Nilmawati Nilmawati
R. Hendri Gusaptono
IDENTIFIKASI VARIABEL PENENTU STRUKTUR MODAL DAN ADJUSTMENT TO TARGET CAPITAL STRUCTURE: TRADE-OFF THEORY
Jurnal Keuangan dan Perbankan
adjustment to target capital structure, trade-off theory of capital structure,
author_facet C. Ambar Pujiharjanto
Nilmawati Nilmawati
R. Hendri Gusaptono
author_sort C. Ambar Pujiharjanto
title IDENTIFIKASI VARIABEL PENENTU STRUKTUR MODAL DAN ADJUSTMENT TO TARGET CAPITAL STRUCTURE: TRADE-OFF THEORY
title_short IDENTIFIKASI VARIABEL PENENTU STRUKTUR MODAL DAN ADJUSTMENT TO TARGET CAPITAL STRUCTURE: TRADE-OFF THEORY
title_full IDENTIFIKASI VARIABEL PENENTU STRUKTUR MODAL DAN ADJUSTMENT TO TARGET CAPITAL STRUCTURE: TRADE-OFF THEORY
title_fullStr IDENTIFIKASI VARIABEL PENENTU STRUKTUR MODAL DAN ADJUSTMENT TO TARGET CAPITAL STRUCTURE: TRADE-OFF THEORY
title_full_unstemmed IDENTIFIKASI VARIABEL PENENTU STRUKTUR MODAL DAN ADJUSTMENT TO TARGET CAPITAL STRUCTURE: TRADE-OFF THEORY
title_sort identifikasi variabel penentu struktur modal dan adjustment to target capital structure: trade-off theory
publisher Universitas Merdeka Malang
series Jurnal Keuangan dan Perbankan
issn 1410-8089
2443-2687
publishDate 2017-03-01
description The purpose of this paper was to test the trade-off theory of capital structure. We started with identifyingvariables that influenced capital structure. Partial Adjustment Model used in this study was to test adjustmentto target capital structure. Based on a sample of non-financial Indonesian listed firms from 2008 to 2012, wefound liquidity, profitability, tangible asset, growth, and cash flow influenced the use of debt on the firm. Theresults of the test Speed of Adjustment (SOA) with Partial Adjustment Model showed the inconsistency of theDynamic Trade-Off Theory.
topic adjustment to target capital structure, trade-off theory of capital structure,
url http://jurnal.unmer.ac.id/index.php/jkdp/article/view/815
work_keys_str_mv AT cambarpujiharjanto identifikasivariabelpenentustrukturmodaldanadjustmenttotargetcapitalstructuretradeofftheory
AT nilmawatinilmawati identifikasivariabelpenentustrukturmodaldanadjustmenttotargetcapitalstructuretradeofftheory
AT rhendrigusaptono identifikasivariabelpenentustrukturmodaldanadjustmenttotargetcapitalstructuretradeofftheory
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