DETERMINAN STRUKTUR MODAL PERUSAHAAN PERKEBUNAN DI BURSA EFEK INDONESIA

Abstract

The research objective is to find the determinants that affect the capital structure and its influence on the value of oil palm plantation companies in Indonesia which is listed on the Indonesia Stock Exchange. This study uses panel data regression Pooled Least Square, Random Effect Model and Fixed Effects Model. The results showed the company’s internal factors which are deficit financing (DEF), the structure of assets (TAN), firm size (Size Ln MC), profitability (ROA) affect the capital structure of the company’s plantations. Macroeconomic factors such as Gross Domestic Product and Composite Stock Price Index also affect the company’s capital structure. In addition, the value of the company was also affected by the company’s capital structure.