EQUITY MARKET TIMING DAN STRUKTUR MODAL
Abstract: This study is an
empirical testing of equity market timing and capital structure at firms which are
doing IPO 2001 and 2002. The aims of this study are to test about the effect of
equity market timing to capital structure and to test the persistency of the
effect of equity market timing to firm’s capital structure in Indonesia. This
study also used control variable, that asset tangibility, size and
profitability. To analyze the data, this study used multiple regressions with SPSS
16.0 to test independent and dependent variables. The result suggest that the
equity market timing has not significantly negative effect to the firms’
capital structure which used IPO 2001 and 2002 that are listed in BEI, and the
effect of equity market timing to the firms’ capital structure are not persistent
that the negative effect of equity market timing to the firms’ capital
structure disappear within third years after IPO.
Keywords: equity market
timing, capital structure, asset tangibility, size, profitability
Penulis: Nidya Fahima, Sri
Maemunah Soeharto, Chorry Sulistyowati
Kode Jurnal: jpmanajemendd161226
