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All Journal Jurnal Bisnis dan Ekonomi Jurnal Manajemen Maranatha Jurnal Akuntansi
Ida .
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Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

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Journal : Jurnal Akuntansi

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Pemilihan Sumber Pendanaan Perusahaan Berdasarkan Hipotesis Pecking Order Ida .
Jurnal Akuntansi Vol. 2 No. 1 (2010)
Publisher : Universitas Kristen Maranatha

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.28932/jam.v2i1.373

Abstract

This Article proposes a rational justification to the Pecking order Hypothesis through relationship with Modigliani Miller Proposition I. The reason to support our justification is 7 (seven) incentives of Pecking order Hypothesis. The 7 (seven) incentives of Pecking order Hypothesis are tax incentive for debt, the bankruptcy costs mitigation incentive, signalling incentive due to information asymmetry, under/ over – investment mitigation incentive due to information asymmetry, asset substitution incentive, managerial risk aversion incentive, and transaction costs incentive. The implications are 5(five) incentives to prefer use debt than equity and 2 (two) Incentives to prefer use equity than debt. Keywords: Incentives of Pecking order Hypothesis, Modigliani Miller Proposition I.
Co-Authors Astriana Madjid Lauw Tjun Tjun