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Equity market timing dan capital structure : studi empiris pada perusahaan non-keuangan terdaftar di 4 negara berkembang ASEAN periode 2007-2011

Adi Vithara Purba (Pembimbing/Promotor) - ; Pratiwi Ningsih - ;

This research investigates the relevance of equity market timing hypothesis on capital structure decision in Indonesia, Malaysia, Philippines, and Vietnam listed firms as introduced by Baker and Wurgler (2002). This research found that the effect on leverage explained by the market-to-book ratio comes through net equity issue in Indonesia, Malaysia, Philippines, and Vietnam as equity market timing theory implies. Furthermore, this research use external financing weighted average market-to-book ratio as an equity market timing proxy. This research documented that there are negative relationship between external financing weighted average market-to-book ratio and book leverage and market leverage in Indonesia and Malaysia. In Philippines, the negative relationship just appeared for book leverage, but not for market leverage. In Vietnam, this research found that there is a positive relationship between external financing weighted average market-to-book ratio and both book leverage and market leverage. This finding is inconsistent with the market timing hypothesis and more in line with trade-off theory.Ada tabel


Ketersediaan

Call NumberLocationAvailable
8400PSB lt.2 - Karya Akhir1
PenerbitDepok: Program Studi Manajemen, Fakultas Ekonomi Universitas Indonesia 2013
Edisi-
SubjekMalaysia
Capital structure
Leverage
Market timing
Vietnam
Philippine
Non financial companies
ISBN/ISSN-
Klasifikasi-
Deskripsi Fisikxix, 131 p. : diagr. ; 30 cm.
Info Detail Spesifik-
Other Version/RelatedTidak tersedia versi lain
Lampiran BerkasTidak Ada Data

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