Analisis faktor-faktor yang mempengaruhi leverage pada perusahaan - perusahaan manufaktur yang terdaftar di Bursa Efek Jakarta

Effendy, Endah Irawati (2005) Analisis faktor-faktor yang mempengaruhi leverage pada perusahaan - perusahaan manufaktur yang terdaftar di Bursa Efek Jakarta. Masters thesis, Widya Mandala Catholic University Surabaya.

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Abstract

Along financial crisis on 1997, Indonesian economy was changed. During that time, lots of companies have financial distress moreover fall into bankruptcy, because they have high debt. This facts shows that debt policy, which known as leverage has an important role for companies. Besides, condition of capital market in Indonesia which haven't grown well that caused debt being an important financial source. Focus on manufacture companies that are registered in Jakarta Stock Exchange, this research used five key factors as variables which influence leverage, that are tangibility of fixed assets, growth opportunities, firm's size, profitability, and firm's age. All this analysis based on agency theory. The result shows tangibility of fixed assets and firm's age do not have relationship to leverage, growth opportunities and firm's size have positif relationship to leverage, however profitability has a negative relationship to leverage. This result indicate that agency problem, which is moral hazard occur in debt policy on Indonesian manufacture companies, because debt doesn't support by good collateral and profit.

Item Type: Thesis (Masters)
Uncontrolled Keywords: Leverage, tangibility of fixed assets, growth opportunities, firm's size, profitability, firm's age.
Subjects: Business
Business > Financial Management
Divisions: Graduate School > Master Program in Management
Depositing User: Sri Kusuma Dewi
Date Deposited: 31 Mar 2015 03:00
Last Modified: 31 Mar 2015 03:00
URI: http://repository.wima.ac.id/id/eprint/1615

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