Email this article 
EFFECT OF THE ASSETS STRUCTURE, GROWTH OPPORTUNITY, AND SYSTEMATIC RISK ON CAPITAL STRUCTURE AND CAPITAL STRUCTURE EFFECT ON COMPANY VALUE
(1)
(2)
(*) Corresponding Author
Abstract
the capital structure and the effect of capital structure on firm value. The dependent variable in this study
is the value of the company on the capital structure, while independent variables used is the capital
structure, growth opportunity, and the systematic risk.Research using secondary data source data
originating from the Indonesian Stock Exchange (BEI) and yahoo finance. Sampling using purposive
sampling method. So from 55 companies property, real estate, and construction of 37 companies in the
sample taken in the period 2010-2014 with a total of 185 observations. The data used in this study is a
data panel. Data analysis using Eviews 6.0 program. Data analysis technique used is panel data
regression analysis with fixed effect models method (FEM).The results showed that during the study
period from 2010 to 2014 in partial capital structure have significant and positive effect on the capital
structure, while the growth opportunity and systematic risk and no significant effect on the capital
structure. Capital structure have significant and positive effect on firm value.
Keywords
Full Text:
PDFReferences
Ajija, S. R., D. W. Sari, R. H. Setianto, dan M. R Primanti. 2011. Cara Cerdas Menggunakan EViews. Salemba Empat. Jakarta.
Chung, K. H. dan S. W. Pruitt. 1994. A Simple Approximation of Tobin’s Q. Financial Management 23(3): 70-74.
Fatkhurrokhim, H., & Sundiman, D. 2015. Pengaruh Pola MACD Histogram IHSG Terhadap Pola MACD Histogram Perusahaan Dari Daftar Indeks LQ45 (Periode Februari s.d Juli 2015) Bursa Efek Jakarta [Effect of MACD Histogram IHSG Patterns to Patterns of Companies Listed on the Jakarta Stock Exchange LQ-45 (Period February till July 2015)]. DeReMa (Development Research of Management): Jurnal Manajemen, 10(2), 227–247. https://doi.org/10.19166/derema.v10i2.167
Firnanti, F. 2011. Faktor-Faktor yang Mempengaruhi Struktur Modal Perusahaan Manufaktur di Bursa Efek Indonesia. Jurnal Bisnis dan Akuntansi 13(2): 119-128.
Hartono, J. 2008. Teori Portofolio dan Analisis Investasi. 5th ed. BPFE-UGM. Yogyakarta.
Khairin, M. Y. 2014. Pengaruh Growth Opportunity, Profitabilitas, Fixed Asset Ratio, dan Risiko Pasar terhadap Struktur Modal: Studi Kasus Perusahaan Property dan Real Estate yang Terdaftar di Bursa Efek Indonesia pada Periode 2010-2012. Skripsi. Program Strata-1 Universitas Diponegoro. Semarang.
Mardiyanti, U., G. N. Ahmad, dan R. Putri. 2012. Pengaruh Kebijakan Dividen, Kebijakan Utang dan Profitabilitas terhadap Nilai Perusahaan Manufaktur yang terdaftar di Bursa Efek Indonesia periode 2005-2010. Jurnal Riset Manajemen Sains Indonesia 3(1): 1-17.
Putri, M. E. D. 2012. Pengaruh Profitabilitas, Struktur Aktiva dan Ukuran Perusahaan terhadap Struktur Modal Perusahaan Manufaktur Sektor Industri Makanan dan Minuman yang terdaftar di Bursa Efek Indonesia. Jurnal Manajemen 1(1): 1-10.
Riyanto, B. 2001. Dasar-Dasar Pembelanjaan Perusahaan. 4th ed. Yayasan Badan Penerbitan Gajah Mada. Yogyakarta.
Singarimbun, M. dan E. Sofian. 1995. Metode Penelitian Survei. 2nd ed. LP3ES. Jakarta.
Sundiman, D., & Idrus, M. 2015. Confucianism ethic, Guanxi, and acculturation role on the knowledge transfer process of Chinese descendant in Indonesia. International Journal of Knowledge Management Studies, 6(3), 261. https://doi.org/10.1504/IJKMS.2015.072712
Susanti, A. I. M. dan A. A. G. Suarjaya. 2014. Determinan Struktur Modal dan Dampaknya terhadap Nilai Perusahaan. Jurnal Manajemen 3(1): 117-128.
Titman, S. dan R. Wessels. 1988. Determinant of Capital Structure Choice. The Journal of Finance 43(1): 1-19.
DOI: https://doi.org/10.24123/jmb.v15i1.36
Article Metrics
Abstract view : 0 timesPDF - 0 times
Refbacks
- There are currently no refbacks.
Copyright (c) 2017 Journal of Management and Business
This work is licensed under a Creative Commons Attribution 4.0 International License. ISSN: 1412-3789. e-ISSN: 2477-1783.
