Analisis Faktor-Faktor yang Mempengaruhi Struktur Modal Pada Perusahaan Bursa Efek Indonesia dan Thailand Stock Exchange

Gunawanti, Gunawanti (2012) Analisis Faktor-Faktor yang Mempengaruhi Struktur Modal Pada Perusahaan Bursa Efek Indonesia dan Thailand Stock Exchange. Undergraduate thesis, Universitas Internasional Batam.

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Abstract

Analisis Faktor-Faktor yang Mempengaruhi Struktur Modal Pada Perusahaan Bursa Efek Indonesia dan Thailand Stock Exchange This study aims to analyze the effect of capital structure for company listed in Indonesia Stock Exchange (IDX) and Thailand Stock Exchange (SET) with observation period from 2006 to 2010. The statistical method used in this research is multiple regressions. The dependent variable is capital structure, while the independent variable is profitability, tangibility, age, size, asset turnover, liquidity, earning volatility, growth opportunities and non debt tax shield. The data obtained are secondary data that sourced from the annual financial report for the companies in Indonesia Stock Exchange and Thailand Stock Exchange. This research uses 224 sample of companies listed in Indonesia Stock Exchange and 331 samples of companies listed in Thailand Stock Exchange with purposive sampling, published its financial statement on December 31 for the year 2006 until year 2010 and expressed in Rupiah for Indonesia and Baht for Thailand. The research result in Indonesia Stock Exchange shows that profitability, tangibility, size, asset turnover, liquidity, and non debt tax shield have a significant effect on capital structure. The results also indicate that age, earnings volatility, growth opportunities have no significant effect on capital structure. But in Thailand the result is different; the difference is profitability, tangibility, size, asset turnover, liquidity, age and non debt tax shield, have a significant effect on capital structure, although earnings volatility, growth opportunities have no significant effect on capital structure. Keywords: Capital structure, Profitability, Tangibility, Age, Size, Asset turnover, Liquidity, Earning volatility, Growth opportunities and Non debt Tax Shield.

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