Pemilihan Sumber Pendanaan Perusahaan Berdasarkan Hipotesis Pecking Order
Abstract: This Article
proposes a rational justification to the Pecking order Hypothesis through
relationship with Modigliani Miller Proposition I. The reason to support our justification
is 7 (seven) incentives of Pecking order Hypothesis. The 7 (seven) incentives
of Pecking order Hypothesis are tax incentive for debt, the bankruptcy costs
mitigation incentive, signalling incentive due to information asymmetry, under/
over – investment mitigation incentive due to information asymmetry, asset
substitution incentive, managerial risk aversion incentive, and transaction
costs incentive. The implications are 5(five) incentives to prefer use debt
than equity and 2 (two) Incentives to prefer use equity than debt.
Keywords: Incentives of
Pecking order Hypothesis, Modigliani Miller Proposition I
Penulis: Ida
Kode Jurnal: jpakuntansidd1000101
