THE DETERMINANTS of CAPITAL STRUCTURE (Evidence from Indonesia Manufacturing Companies Listed in Indonesia Stock Exchange for period 2010-2014)
This research has examined the influence factors in the capital structure for manufacturing companies listed in Indonesia Stock Exchange by using multiple regression analysis. Sample period from 2010-2014 for 52 manufacturing companies. This results are growth opportunities, size, tangibility positive, and significant impact on leverage. Profitability significant negative effect on leverage and non-debt tax shield does not significantly affect the leverage. Size, profit, and the tangibility support the theory of a trade-off. Growth opportunities and non-debt tax shield does not support the theory of a trade-off. Growth opportunities and profitability supported the theory of the pecking order, while the size, tangibility, and non-debt tax shield does not support the pecking order theory.