Effendi, Erlina and Pricilla, Inneke (2020) Determinan struktur modal dalam perspektif pecking order theory dan agency theory. Jurnal Manajemen: Untuk Ilmu Ekonomi dan Perpustakaan, 6 (1).

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Abstract

Capital structure is a combination of debt and equity in the company's long-term financial structure. All investment activities carried out by the company will require funding both internal funds (own capital) and external funds (parties outside the company). The use of funds from outside the company in financial management is called the capital structure that appears on the equity and balance sheet of the company. The capital structure is a complex financial decision and should be effectively effective in order to lower the cost of capital, generate higher NBS and increase the value of the company. There are several theories regarding the capital structure of Modigliani and Miller (MM) approach theory, Trade-Off theory, Pecking Order theory, information and Signaling theory of asymmetry, and Agency Approach. In this study will analyze and discuss factors affecting the capital structure consisting of profitability, company size, business risk, opportunity of growth and managerial ownership. Factors of profitability, enterprise size, business risk are analyzed in the perspective Duck order theory and the opportunity of variable growth of managerial ownership and analyzed in the perspective of testing institute theory.

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