PERBANDINGAN FAKTOR-FAKTOR YANG MEMPENGARUHI PENENTUAN STRUKTUR MODAL PADA PERUSAHAAN BESAR DAN PERUSAHAAN KECIL DI SEKTOR PROPERTI, REAL ESTATE DAN KONSTRUKSI

• Main Authors: , Rona Nandana U., , Prof. Dr. Marwan Asri., MBA., Ph.D.
• Format: Theses and Dissertations NonPeerReviewed
• Published: [Yogyakarta] : Universitas Gadjah Mada 2013
• Subjects: ETD
• Online Access: https://repository.ugm.ac.id/125656/; http://etd.ugm.ac.id/index.php?mod=penelitian_detail&sub=PenelitianDetail&act=view&typ=html&buku_id=65826
• Institution: Universitas Gadjah Mada

Funding is an important activity in acompany. Funding decision activity on a company will have an impact on the company's capital structure. A common theories used to analyze the capital structure are the pecking order theory and trade off theory. The determinants of capital structure in each country may differ, even though the companies are still in the same country, the determinants of capital structure could be different in different sectors. Sector studied in this research is the property, real estate and construction because this sector has a uniqueness that is different from other sectors so that the sector is the right subject to be studied. This study aims to determine the factors that affect the capital structure of companies in the property, real estate and construction sector. Beside that, the companies in the property, real estate and construction sector are divided into two categories: large companies and small companies to compare the determinants of capital structure in both categories of companies. Specific factors which are expected to affect the capital structure of companies in the property, real estate and construction sector are asset tangibility, firm size and profitability. The data were analyzed are from the financial statements that have been audited and published by Bursa Efek Indonesia from 2007 to 2011. Analysis used in this research to the the hypothesis are simple regression and multiple regression. The result shows that asset tangibility positively affect the company's capital structure in the large firm category but asset tangibility positively doesn�t affect the company's capital structure in the small firm category. Firm size variable analysis result indicates that firm size positively affects the company's capital structure in the large firm category and firm size are also positively affect the company's capital structure in the small firm category. The result also shows that profitability does not negatively affect the company's capital structure in the large firm category but negatively affect the profitability of the company's capital structure in the small firm category. Multiple linear regression test shows that there are significant result together between asset tangibility, frim size, and profitability and the company's capital structure on the all categories.