Tesis
Tinjauan Ulang terhadap Hubungan antara Uang dan Sewa
Financial theory has not reached an agreement on the relationship between debt and lease. One argument says the relationship is a substitution (if lease increase, the debt must be reduced and vice versa). Another argument says the relationship is complementary (additional lease is followed by the addition of debt). This research examines relationship between the two by combining Schallheim (2013) for the use of sale and leaseback transactions (SLB) as a proxy for the level of lease and Yan (2006) multivariate equation modelling. This study found a robust relationship of substitution. Exogenous factors EBITD, marginal tax rate (MTR), policy interest rate, and economic growth significantly explain the dynamics of debt and/or SLB at some sample. The higher the MTR, the higher the substitution rate, which indicates the cost of debt are greater for an additional extra rent.
| Call Number | Location | Available |
|---|---|---|
| T 650/16 | PSB lt.2 - Karya Akhir | 1 |
| Penerbit | Depok: Program Studi Pascasarjana Ilmu Manajemen Fakultas Ekonomi Dan Bisnis Universitas Indonesia 2016 |
|---|---|
| Edisi | - |
| Subjek | Debt Sale and leaseback Marginal tax rate Multivariate system of equation |
| ISBN/ISSN | - |
| Klasifikasi | NONE |
| Deskripsi Fisik | ix, 91 p. : il. ; 30 cm. |
| Info Detail Spesifik | Tesis |
| Other Version/Related | Tidak tersedia versi lain |
| Lampiran Berkas | Tidak Ada Data |