Risa Rolita_Abstract_1832014

HUBUNGAN STRUKTUR MODAL DAN KEPUTUSAN INVESTASI PADA PERUSAHAAN MANUFAKTUR

Risa Rolita
Fakultas Ekonomi dan Bisnis Universitas Ma Chung Malang
Villa Puncak Tidar N-01 Malang, 65151, Indonesia.

Korespondensi dengan Penulis:
Risa Rolita: Telp. +62 341 550 171; Fax. +62 341 550 175
E-mail: chaca_risa@yahoo.com

Abstract
The background of this study was begun with the manufacturing company needs capital to continually improve their performance and investors needs to look at the capital structure to determine their decision to invest. The purpose of this research was to know the relation between capital structure and investment decisions in manufacturing company listed on the Indonesia Stock Exchange during six years (2008-2013). This study was a causal research. Sampling technique used purposive sampling method. Adjusted R2 test was used to measure the model capability in explaining the variation of dependent variable. T-test was used to test the partial regression coefficient with a significance level of 5%. Capital structure was represented by Debt to Asset Ratio (DAR), Debt to Equity Ratio (DER), Long term Debt to Asset Ratio (LDAR), Long term Debt to Equity Ratio (LDER), Equity to Asset Ratio (EAR). Investment decision was represented by changes of Fixed Asset Ratio (∆AT Ratio). The result of this research was DAR and DER gave significant effect on investment decisions.

Keywords: capital structure, investment decisions, debt ratio

(Full Text.pdf)

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Luh Gede Sri Artini_Abstract_1832014

STRUKTUR KEPEMILIKAN SAHAM TERHADAP KEBIJAKAN UTANG PERUSAHAAN DI BURSA EFEK INDONESIA

Luh Gede Sri Artini
Ni Nyoman Ayu Diantini
Prodi Manajemen Fakultas Ekonomi dan Bisnis Universitas Udayana
Jl. P.B. Sudirman, Denpasar, Bali, 80232, Indonesia.

Korespondensi dengan Penulis:
Luh Gede Sri Artini: Telp. +6281 558 030 970
E-mail: lg_artini @yahoo.com

Abstract
This paper examined the effects of insider ownership, institutional investors and shareholders dispersion on debt ratio by pooled regression model. The research Population was all the firms in LQ 45 in Indonesia Stock Exchange (IDX) from 2009 until 2012, and sampling conducted in this research was purposive sampling method. Based on the criteria obtained by purposive sampling, 15 companies were eligible to be utilized as the research sample. The results of this research were that the impact of insider ownership was positive significant on debt ratio, the institutional investor had a significant positive impact on debt ratio, shareholder dispersion was not significantly effect on debt ratio.

Keywords: insider ownership, institutional investors, shareholders dispersion, debt ratio

(Full Text.pdf)