Pengujian pecking order theory pada perusahaan-perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia

Dewi, Yuniati Kusuma (2009) Pengujian pecking order theory pada perusahaan-perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia. Masters thesis, Widya Mandala Catholic University Surabaya.

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Abstract

This study tests the pecking order theory of corporate financing decisions. Focus on manufacture companies that are registered in Indonesia Stock Exchange for the period of 2004-2008, this study shows that the pecking order theory holds for most sample analyzed, particularly for the medium and large sized Indonesian companies. The basic pecking order models, which predicts external debt financing driven by the internal financial deficit, this research used three variables, that are internal financing, debt and new equity. This analysis based on agency theory and there is asymmetric information about firms prospect between managers and investors. Finally, this study shows that firm finances their fund-flow deficit with debts and new equities.

Item Type: Thesis (Masters)
Uncontrolled Keywords: Financing decision, pecking order theory, asymmetric information
Subjects: Business
Business > Financial Management
Divisions: Graduate School > Master Program in Management
Depositing User: Sri Kusuma Dewi
Date Deposited: 31 Mar 2015 02:02
Last Modified: 31 Mar 2015 02:02
URI: http://repository.wima.ac.id/id/eprint/1699

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