Pengaruh Aliran Kas Internal Dan Kepemilikan Manajer Dalam Perusahaan Terhadap Pembelanjaan Modal: Managerial Hypotheses Atau Pecking Order Hypotheses?

ABSTRACT This paper aimed to test the two agency-based arguments that known as the pecking' order hypotheses and 'managerial' hypotheses at the Jakarta Stock Exchange. Pecking order hypotheses say that manager choose the level of capital expenditure that maximizes the wealth of curren...

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Main Author:	Perpustakaan UGM, i-lib
Format:	Article NonPeerReviewed
Published:	[Yogyakarta] : Universitas Gadjah Mada 2001
Subjects:	Jurnal i-lib UGM
Online Access:	https://repository.ugm.ac.id/25934/ http://i-lib.ugm.ac.id/jurnal/download.php?dataId=8942
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Institution:	Universitas Gadjah Mada

id	id-ugm-repo.25934
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spelling	id-ugm-repo.259342014-06-18T00:33:06Z https://repository.ugm.ac.id/25934/ Pengaruh Aliran Kas Internal Dan Kepemilikan Manajer Dalam Perusahaan Terhadap Pembelanjaan Modal: Managerial Hypotheses Atau Pecking Order Hypotheses? Perpustakaan UGM, i-lib Jurnal i-lib UGM ABSTRACT This paper aimed to test the two agency-based arguments that known as the pecking' order hypotheses and 'managerial' hypotheses at the Jakarta Stock Exchange. Pecking order hypotheses say that manager choose the level of capital expenditure that maximizes the wealth of current shareholders, regardless of the managers' ownership stake in the firm. According to the managerial hypothesis, manager who have small ownerships take in the firm use internal cash flow to under take a level of capital expenditures higher than that which would maximize the wealth of other current shareholders. Testing on 223 firms that chosen based purposive sampling found there is weak association between capital expenditure and internal cash flow, either between capital expenditure and insider ownership. Overall, the results favour the pecking order hypotheses. Keywords: Pecking Order Hypotheses, Managerial Hypotheses, Capital Expenditure, Insider Ownership, Internal Cash flow [Yogyakarta] : Universitas Gadjah Mada 2001 Article NonPeerReviewed Perpustakaan UGM, i-lib (2001) Pengaruh Aliran Kas Internal Dan Kepemilikan Manajer Dalam Perusahaan Terhadap Pembelanjaan Modal: Managerial Hypotheses Atau Pecking Order Hypotheses? Jurnal i-lib UGM. http://i-lib.ugm.ac.id/jurnal/download.php?dataId=8942
institution	Universitas Gadjah Mada
building	UGM Library
country	Indonesia
collection	Repository Civitas UGM
topic	Jurnal i-lib UGM
spellingShingle	Jurnal i-lib UGM Perpustakaan UGM, i-lib Pengaruh Aliran Kas Internal Dan Kepemilikan Manajer Dalam Perusahaan Terhadap Pembelanjaan Modal: Managerial Hypotheses Atau Pecking Order Hypotheses?
description	ABSTRACT This paper aimed to test the two agency-based arguments that known as the pecking' order hypotheses and 'managerial' hypotheses at the Jakarta Stock Exchange. Pecking order hypotheses say that manager choose the level of capital expenditure that maximizes the wealth of current shareholders, regardless of the managers' ownership stake in the firm. According to the managerial hypothesis, manager who have small ownerships take in the firm use internal cash flow to under take a level of capital expenditures higher than that which would maximize the wealth of other current shareholders. Testing on 223 firms that chosen based purposive sampling found there is weak association between capital expenditure and internal cash flow, either between capital expenditure and insider ownership. Overall, the results favour the pecking order hypotheses. Keywords: Pecking Order Hypotheses, Managerial Hypotheses, Capital Expenditure, Insider Ownership, Internal Cash flow
format	Article NonPeerReviewed
author	Perpustakaan UGM, i-lib
author_facet	Perpustakaan UGM, i-lib
author_sort	Perpustakaan UGM, i-lib
title	Pengaruh Aliran Kas Internal Dan Kepemilikan Manajer Dalam Perusahaan Terhadap Pembelanjaan Modal: Managerial Hypotheses Atau Pecking Order Hypotheses?
title_short	Pengaruh Aliran Kas Internal Dan Kepemilikan Manajer Dalam Perusahaan Terhadap Pembelanjaan Modal: Managerial Hypotheses Atau Pecking Order Hypotheses?
title_full	Pengaruh Aliran Kas Internal Dan Kepemilikan Manajer Dalam Perusahaan Terhadap Pembelanjaan Modal: Managerial Hypotheses Atau Pecking Order Hypotheses?
title_fullStr	Pengaruh Aliran Kas Internal Dan Kepemilikan Manajer Dalam Perusahaan Terhadap Pembelanjaan Modal: Managerial Hypotheses Atau Pecking Order Hypotheses?
title_full_unstemmed	Pengaruh Aliran Kas Internal Dan Kepemilikan Manajer Dalam Perusahaan Terhadap Pembelanjaan Modal: Managerial Hypotheses Atau Pecking Order Hypotheses?
title_sort	pengaruh aliran kas internal dan kepemilikan manajer dalam perusahaan terhadap pembelanjaan modal: managerial hypotheses atau pecking order hypotheses?
publisher	[Yogyakarta] : Universitas Gadjah Mada
publishDate	2001
url	https://repository.ugm.ac.id/25934/ http://i-lib.ugm.ac.id/jurnal/download.php?dataId=8942
_version_	1681218678797893632

Pengaruh Aliran Kas Internal Dan Kepemilikan Manajer Dalam Perusahaan Terhadap Pembelanjaan Modal: Managerial Hypotheses Atau Pecking Order Hypotheses?

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