Pengaruh Determinan Firm-Specific dan Industry-Specific Terhadap Tingkat Struktur Modal Pada Sektor Manufaktur Indonesia Pada Periode 2015-2019

Deskripsi

This study aims to analyze the effect of determinants of company characteristics and industry characteristics on capital structure decisions of manufacturing companies in Indonesia. This study uses a sample of 182 manufacturing companies for 5 years, from 2015 to 2019, by processing panel data. Determinants of company characteristics in this study were measured using profitability, tangibility, firm size and growth opportunity. The determinants of industrial characteristics in this study were measured using the industry munificence, industry dynamism, and industry concentration. From the results of data processing, it was found that at the company level the capital structure decisions of manufacturing sector companies in Indonesia are influenced by profitability, tangibility and firm size. At the industrial level the capital structure decisions are influenced by profitability, tangibility, firm size, growth opportunity and industry concentration. Meanwhile, the results of the study show that the industry munificence and industry dynamism do not have a significant effect on the company's capital structure.Ada Tabel