Analisis Penggunaan Public Debt Pada Perusahaan Sektor Industri Manufaktur Yang Terdaftar Di Bursa Efek Indonesia
DOI:
https://doi.org/10.15642/manova.v3i1.239Keywords:
public debt, umur perusahaan, ukuran perusahaan, tangible asset, financial leverage,earning volatility, growth opportunity, public ownership.Abstract
Penelitian ini bertujuan untuk meneliti pengaruh karakteristik perusahaan terhadap proporsi penggunaan private debt dan public debt. Karakteristik perusahaan yang digunakan dalam penelitian ini adalah umur perusahaan, ukuran perusahaan, tangible asset, financial leverage, earning volatility, growth opportunity dan public ownership. Teknik yang digunakan dalam penelitian ini adalah model analisis regresi Tobit karena data yang digunakan adalah data campuran. Sampel yang digunakan sebanyak 112 perusahaan yang berada di sektor industri manufaktur yang terdaftar di Bursa Efek Indonesia (BEI), dengan jangka waktu penelitian 2010 sampai 2014. Hasil penelitian menunjukkan pada perusahaan yang menggunakan private debt, umur perusahaan, earning volatility dan growth opportunity berpengaruh negatif signifikan, sedangkan ukuran perusahaan, tangible asset, financial leverage dan public ownership berpengaruh positif signifikan. Pada perusahaan yang menggunakan public debt, umur perusahaan berpengaruh negatif signifikan, ukuran perusahaan dan public ownership berpengaruh positif signifikan, sedangkan tangible asset dan growth opportunity berpengaruh negatif tidak signifikan, financial leverage dan earning volatility berpengaruh positif tidak signifikan.
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