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All Journal Jurnal Ekonomi, Bisnis dan Kewirausahaan (JEBIK) JBTI : Jurnal Bisnis : Teori dan Implementasi Monex: Journal of Accounting Research Jurnal Ilmiah Universitas Batanghari Jambi Akuntabel : Jurnal Ekonomi dan Keuangan J-MAS (Jurnal Manajemen dan Sains) Jurnal Pendidikan Ekonomi (JURKAMI) EQIEN - JURNAL EKONOMI DAN BISNIS Performance Parameter JURNAL LENTERA AKUNTANSI Majalah Ilmiah Manajemen dan Bisnis Jurnal Abdi Masyarakat Indonesia Journal of Social Research Jurnal AGRISEP: Kajian Masalah Sosial Ekonomi Pertanian dan Agribisnis WIKUACITYA: Jurnal Pengabdian Kepada Masyarakat
Cahyo, Heru
Fakultas Ekonomika Dan Bisnis, Universitas Wijayakusuma Purwokerto, Banyumas, Indonesia
Agriculture, Biological Sciences & Forestry Humanities Civil Engineering, Building, Construction & Architecture Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Engineering Law, Crime, Criminology & Criminal Justice Public Health Social Sciences Other

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Journal : JBTI : Jurnal Bisnis : Teori dan Implementasi

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The Determinant Factors of Capital Structure in Cyclical Sector: Empirical Study from Indonesia Heru Cahyo; Siti Muntahanah; Sodik Dwi Purnomo
JBTI : Jurnal Bisnis : Teori dan Implementasi Vol 14, No 2 (2023): August 2023
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jbti.v14i2.19480

Abstract

This study aims to test seven internal factors determining capital structure using trade-off theory in the consumer cyclical sector in Indonesia. The research sample used a purposive sampling of 15 companies with 225 observations. Generalized Method of Moment analysis method for panel data. The research found that significant firm growth and size were proven. Tangible assets, non-debt tax shield, growth opportunity, and significant earning volume were not proven, and profitability was not significant. Investors can make the right decisions regarding ownership of company shares to sell or buy. In addition, potential investors can invest their funds by considering the company's high debt costs, which results in financial distress costs. The findings provide an overview for company managers in making decisions to achieve an optimal capital structure.
Co-Authors AA Sudharmawan, AA Andhi Johan Suzana Arinastuti Arinastuti Arinastuti Arinastuti Badriah, Lilis Siti Cahyani Murdijaningsih Cahyaningtyas Ria Uripi Chusnul Maulidina Hidayat Damar Jati Diah Retnowati Endang Sri Wahyuni Fajar Febrianti Fitri Rahmawati Hari Winarto Hening Riyadiningsih Herbowo Herbowo, Herbowo Heri Setiawan Hizkia Prasetya Panjaitan Isnaeni Rokhayati Kabul Budiyono kencana, heris Krisnhoe Sukma Danuta Luhita, Tiladela Minadi Wijaya Muntahanah, Siti Murdijaningsih, Tjahjani Nirmala Nirmala Nirmala Nirmala, Nirmala Octisari, Sully Kemala Pamuji, Ikhlas Agung Priyatama, Tunggul Pujiastuti, Ratna Purnomo, Sodik Dwi Reni Wiyarti Sambodo, Herman Sindi Rahmah Siti Ainul Mukharomah Sri Sundari Sundari, Sri Surveyandini, Mayla Suwarno Syamsul Arifin Tri Esti Masita Wijayanti, Esa Zuhaena, Fatwa Zumaeroh -