Proceedings of the 19th International Symposium on Management (INSYMA 2022)

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Factors Affecting the Capital Structure of Non-financial Business Entities Listed in the IDX for the 2016–2020 Period

Authors
Adityawan Slamet1, Endang Ernawati1, *, Werner Ria Murhadi1
1University of Surabaya, Surabaya, Indonesia
*Corresponding author. Email: endangernawati@staff.ubaya.ac.id
Corresponding Author
Endang Ernawati
Available Online 5 December 2022.
DOI
10.2991/978-94-6463-008-4_16How to use a DOI?
Keywords
capital structure; debt; trade-off theory; pecking order theory
Abstract

This research aims to analyze the determinants of a firm’s factors that influence capital structure. The variables used were profitability, growth, tangibility, non-debt tax shield, liquidity, and size. This research used a quantitative approach by using multiple linear regression. This research samples were from all non-financial sector companies listed on Indonesia Stock Exchange that issued financial statements in 2016–2020 and were not under the delisting process. The final samples utilized in this research were equal to 1,650 observations. This research used the fixed effect model, and the research findings indicate that the non-debt tax shield has no significant effect on capital structure, while profitability, growth, tangibility, liquidity, and size have a significant effect on debt in all non-financial sector companies listed on the Indonesia Stock Exchange for the period 2016–2020.

Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 19th International Symposium on Management (INSYMA 2022)
Series
Advances in Economics, Business and Management Research
Publication Date
5 December 2022
ISBN
978-94-6463-008-4
ISSN
2352-5428
DOI
10.2991/978-94-6463-008-4_16How to use a DOI?
Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Adityawan Slamet
AU  - Endang Ernawati
AU  - Werner Ria Murhadi
PY  - 2022
DA  - 2022/12/05
TI  - Factors Affecting the Capital Structure of Non-financial Business Entities Listed in the IDX for the 2016–2020 Period
BT  - Proceedings of the 19th International Symposium on Management (INSYMA 2022)
PB  - Atlantis Press
SP  - 118
EP  - 125
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-008-4_16
DO  - 10.2991/978-94-6463-008-4_16
ID  - Slamet2022
ER  -