文章基本信息

标题：THE DIFFERENCE OF CAPITAL STRUCTURE AMONG INDUSTRY SECTORS IN THE INDONESIA STOCK EXCHANGE
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作者：Arief Tri Hardiyanto ; Noer Azam Achsani ; Roy Sembel 等
期刊名称：Business and Management Review
印刷版ISSN：2047-0398
电子版ISSN：2047-0398
出版年度：2014
卷号：3
期号：8
页码：28-35
出版社：Global Research Society
摘要：Capital structure is a mix of debts and equities used by company to finance its investment. Debt offers benefit oftax shield from interest expenses that can be deducted in calculating company income tax. Unfortunately,company can not use debts in unlimited amount because it will lead to risk of bankrupt. Therefore, companyneeds to achieve an optimal capital structure which it will optimize the firm value. The purpose of this study isto analyze the difference of capital structure among companies grouped in 8 industry sectors in Indonesia StockExchange using parametric and non-parametric model. Data used is 228 public listed companies from group ofeight industry sectors. Research finding confirms that financing pattern or capital structure among industrysectors is significantly different. The companies financing pattern of eight industry sectors can be classified intothree patterns namely high debt financing (high DER), medium debt financing (medium DER), and low debtfinancing (low DER).
关键词：capital structure; debt equity ratio; parametric; non parametric; industry sector; Indonesia Stock;Exchange.