This paper explored capital structure theory since 1952 to 1996. The Capital Structure theory firstly introduced by David Duran (1952) to estimate value of the firm. Modigliani and Miller introduced MM-theory and become landmark the capital structure theory because the many paper always referred to the paper. Pecking order theory, Agency Theory and Signaling theory and Dynamic capital structure explained in this paper.
Jurnal Ekonomi Modernisasi is a peer-reviewed journal that disseminates research in the fields of management and accounting. The journal publishes issues every February, June, and October. It covers a large variety of topics of management and accounting as a medium for practitioners, academics, ...