Image of Analisis pengaruh utang jangka panjang untuk mengontrol overinvestment dalam bentuk kas dan aset riil : studi empiris pada perusahaan non keuangan yang listed di Bursa Efek Indonesia periode 2005-2011

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Analisis pengaruh utang jangka panjang untuk mengontrol overinvestment dalam bentuk kas dan aset riil : studi empiris pada perusahaan non keuangan yang listed di Bursa Efek Indonesia periode 2005-2011

This study aimed to analyze the effect of using long-term debt as a control in order to avoid overinvestment in two types of assets, cash and real assets. The samples are 224 non-financial firms listed on the Indonesia Stock Exchange during 2005-2011. This research using different proxy of long-term debt, those are a dummy variable that a firm in earlier year has not use long-term debt and then using long-term debt; long-term debt increased 20%; 30%; 60%; 80%; and 90%. The results obtained at any rate of long-term debt can control the tendency of overinvestment in cash. Whereas in real asset investment models at any level of long-term debt there is no indication to control the tendency of overinvestment, because of positive effect. There are symptoms the role of long-term debt which is also as a source to finance their investment in real assets. In addition, this research conducted with industry adjustment to the firms that has a tendency to do overinvestment in their respective industries then analyze the effect on investment opportunities, operating cash flow, firm?s size, net working capital, dividend payments, sales growth, and tax payments toward over investment.Ada tabel

Ketersediaan

Call NumberLocationAvailable
8467PSB lt.2 - Karya Akhir1
Penerbit Depok Program Studi Manajemen, Fakultas Ekonomi Universitas Indonesia.,
Edisi -
Subjek Investment
Overinvestment
Investment opportunity
Long term debt
Real investment
ISBN/ISSN -
Klasifikasi -
Deskripsi Fisik xv, 167 p. : diagr. ; 30 cm.
Info Detail Spesifik -
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