Pengaruh Tata Kelola Perusahaan dan Struktur Kepemilikan terhadap Struktur Modal Perusahaan Properti, Real Estate, dan Konstruksi yang Tercatat di Bursa Efek Indonesia pada Periode 2015-2019

Deskripsi

This study aims to investigate the effect of corporate governance and ownership structure towards capital structure of property, real estate, and construction companies listed in Indoonesia Stock Exchange within the period of 2015-2019. The paper uses a panel data of 245 observations from 49 listed companies in the sector within the period of 2015-2019. The methodology of this paper uses a panel data regression with random effect model as its estimation method. The result shows that ownership strcuture through ownership concentration variable has negative impact on company?s decision to use debt/liability in their capital structure. Furthermore, the level of profitability of a company also negatively impact company?s decision to use debt in their capital structure. However, the size of a company has a positive impact on company?s decision to use debt in their capital structure. The findings suggest that as ownership of a company is concentrated in a single entity, the usage of debt in their capital structure will decrease.Ada Tabel