Palti M.Sitorus_Abstract_1822014

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.

  • Korespondensi Penulis:
  • Palti Marulitua Sitorus: Telp.+62 22 756 4108; Fax.+62 22 756 5200
  • E-mail: pmts_dori@yahoo.com

 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

(Full Text.pdf) 

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