STRUKTUR MODAL DAN KEPUTUSAN INVESTASI PADA PERUSAHAAN TELEKOMUNIKASI INDONESIA
Palti Marulitua Sitorus
Prodi Manajemen Fakultas Ekonomi dan Bisnis Universitas Telkom
Jl.Telekomunikasi No.1 Terusan Buah Batu-Bandung, 40257, Indonesia.
D.S. Priyarsono
Adler Haymans Manurung
Tubagus Ahmad Maulana
Program Doktor Manajemen dan Bisnis Pascasarjana Institut Pertanian Bogor
Jl. Raya Pajajaran Bogor, 16151, Indonesia.
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Abstract
This study aimed to explore the interconnection of capital structure and investment decisions based on the relationship between corporate leverage and investment options. The samples used were telecommunication companies in Indonesia which had already become public companies from 2006 to 2013. The data was processed by using multiple regression technique and t test and F test to see the difference of investment source. This study revealed that an increase in the firm value as a result of an increase in the debts of the company and its increase was different between the companies that the investment came from foreign investment and local investment. Investment selection by using the debt was considered to be the correct choice made by management. The value of the company was obtained better by companies that used local investment. Telecommunication business was still considered by investors to be the prospective industries.
Key words: capital structure, investment decision, telecommunication
Jurnal Keuangan dan Perbankan (JKP) 