PENGUJIAN TEORI PECKING ORDER PADA LIFE-CYCLE PERUSAHAAN DI INDONESIA
The results of research on the theory of capital structure often tend to prove the existence of the theory, but it doesn�t provide a deeper understanding of the theory itself. This study tries to provide a deeper understanding of the theory of capital structure (pecking order theory) in a variety...
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| Main Authors: | , |
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| Format: | Theses and Dissertations NonPeerReviewed |
| Published: |
[Yogyakarta] : Universitas Gadjah Mada
2012
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| Subjects: | |
| Online Access: | https://repository.ugm.ac.id/100728/ http://etd.ugm.ac.id/index.php?mod=penelitian_detail&sub=PenelitianDetail&act=view&typ=html&buku_id=57938 |
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| Summary: | The results of research on the theory of capital structure often tend to prove the
existence of the theory, but it doesn�t provide a deeper understanding of the theory
itself. This study tries to provide a deeper understanding of the theory of capital
structure (pecking order theory) in a variety of conditions companies are categorized
according to the concept of life-cycle. Using the listed companies in Indonesia Stock
Exchange data from the year 1991-2010, the results of this study confirm the application
of the pecking order theory in capital structure decision by companies in Indonesia. The
results of this study also showed that the highest of average debt proportion occur at
growth phase. Meanwhile, the average debt proportion at introduction phase is not so
different with maturity phase. |
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