Pengujian Teori Trade-Off dan Pecking Order

dengan Satu Model Dinamis pada Perusahaan Publik di Indonesia

Authors

  • Darminto Universitas Indonesia
  • Adler Haymans Manurung Nikko Securities Indonesia

DOI:

https://doi.org/10.21632/

Keywords:

leverage, pecking order theory, trade-off theory, capital structure, size and tangible fixed asset

Abstract

This article explores determinant of capital structure in Indonesia. Empirical study using Regression in model is done by including variable suggested by Trade of Theory, Pecking Order Theory, and combination of those theories. The result shows that determinant factors in the Trade of Theory have more ability to explain the capital structure than deficit cash flow factor in pecking order theory. Other variables that are also significant are firm size and collateral capacity. Its is possible that rejection of Pecking Order Theory is due to market timing argument in long term financing.

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Submitted

11/24/2025

Published

05/01/2008

How to Cite

Darminto, D., & Manurung, A. H. (2008). Pengujian Teori Trade-Off dan Pecking Order: dengan Satu Model Dinamis pada Perusahaan Publik di Indonesia. International Research Journal of Business Studies, 1(1), 35-52. https://doi.org/10.21632/

Issue

Vol. 1 No. 1 (2008): May-July 2008

Section

Articles

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Copyright (c) 2008 Darminto, Adler Haymans Manurung

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This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

How to Cite

Darminto, D., & Manurung, A. H. (2008). Pengujian Teori Trade-Off dan Pecking Order: dengan Satu Model Dinamis pada Perusahaan Publik di Indonesia. International Research Journal of Business Studies, 1(1), 35-52. https://doi.org/10.21632/