DETERMINASI CAPITAL SRTUCTURE PADA PERUSAHAAN MANUFAKTUR DI BURSA EFEK JAKARTA PERIODE 2000 - 2004

Indrawati, Titik
Suhendro, Suhendro

Jurnal Akuntansi dan Keuangan Indonesia
Vol. 3, No. 1

This study attempts to analyze the determinants of capital structure in the Indonesian manufacturing industry from 2000 to 2004. Empirical hyphoteses, drawn from five independent variables are tested against a sample of 49 firms or a cross sectional data. The results show that only In total asset (size), net operating income (NOI), and return on asset (ROA) affect long-term debt to total asset (leverage). It finds a p'ositive relation between leverage and In total asset, a negative relation between leverage andprofitability (NOI and ROA). Delta sales (growth) and ownership structure have no effect on leverage. These findings are stable in 2000 through 2004