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Bonar Marulitua Sinaga
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Economics, Econometrics & Finance

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The Effect of Corporate Characteristics on Capital Structure in Indonesia Nicko Albart; Bonar Marulitua Sinaga; Perdana Wahyu Santosa; Trias Andati
Journal of Economics, Business, & Accountancy Ventura Vol 23, No 1 (2020): April - July 2020
Publisher : STIE Perbanas Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14414/jebav.v23i1.2153

Abstract

This study aims to determine the effect of corporate characteristics on the company's capital structure, which plays a fundamental role in the proportion of debt and equity financing risks. The research method used is purposive sampling. This research's population is non-financial issuers listed on the Indonesia Stock Exchange with quarterly data for the period of 2010-2017. The analysis is performed using panel data with six independent variables and two control variables. The results of this study indicate that profitability and institutional ownership have a negative effect on capital structure. In contrast, market ratios, firm size, and managerial ownership have a positive effect on capital structure. Debt decision making must consider financial and ownership characteristics, especially if there is institutional or government ownership in the company because company characteristics have a significant effect on the company's capital structure.
Co-Authors Nicko Albart Perdana Wahyu Santosa Trias Andati