DAMPAK IMBAL HASIL SAHAM TERHADAP STRUKTUR MODAL DINAMIS DI BURSA EFEK INDONESIA
| Main Author: | Herman Ruslim |
|---|---|
| Format: | Article eJournal |
| Bahasa: | eng |
| Terbitan: |
Tarumanagara University
, 2012
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| Subjects: | |
| Online Access: |
http://journal.tarumanagara.ac.id/index.php/em/article/view/910 |
Daftar Isi:
- : In financing its activity, a firm depends on its capital structure. Although the nature of financing activities through debt and equity is dynamic, underlying motivation for selecting proper capital structure remain a puzzle. This research attempts to study the effect of stock return on dynamic capital structure. This research used a sample of the 56 companies, which are listed in Indonesia Stock Exchange (BEI) of the period from 1998 to 2007. The analysis method used in this research was time series analysis with Ordinary Least Squares (OLS). The research results indicated that firm did not make adjustment to achieve the target capital structure refering to tradeoff theory, based on time series analysis it is concluded that stock return has significant effect on dynamic capital structure in short term, mid term, and long term and the stock return itself could explained the dynamic capital structure above 40% in all terms.