Analysis of Factors Affecting the Company's Debt Policy with Pecking Order Theory in Wholesale and Retail Companies in Indonesia
Authors
Nurhalis Nurhalis, Faisal Faisal, Juanda Juanda, Syarifah Rahmawati, Fathurrahman Anwar, Nadya Prihartini
Corresponding Author
Nurhalis Nurhalis
Available Online January 2019.
- DOI
- 10.2991/agc-18.2019.109How to use a DOI?
- Keywords
- Debt Policy, Profitability, Asset structure, Growth rate, Firm size, Sales growth, Pecking order theory
- Abstract
Debt policy is one of the decisions related to company funding made by the manager. This study aims to determine the effect of profitability, asset structure, and growth rate by using control variables of firm size and sales growth on debt policy. Using multiple linear regression analysis method, the result showed that profitability and asset structure had a significant negative effect to company policy. Company growth rate, firm size, sales growth has a significant positive effect on debt policy. This is in accordance with the assumption of pecking order theory. Meanwhile, the Independent sample T-test shows that there is no real difference between the debt policy of wholesale and retail companies listed in Indonesia Stock Exchange.
- Copyright
- © 2018, the Authors. Published by Atlantis Press.
- Open Access
- This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).
Cite this article
TY - CONF AU - Nurhalis Nurhalis AU - Faisal Faisal AU - Juanda Juanda AU - Syarifah Rahmawati AU - Fathurrahman Anwar AU - Nadya Prihartini PY - 2019/01 DA - 2019/01 TI - Analysis of Factors Affecting the Company's Debt Policy with Pecking Order Theory in Wholesale and Retail Companies in Indonesia BT - Proceedings of the 1st Aceh Global Conference (AGC 2018) PB - Atlantis Press SP - 726 EP - 730 SN - 2352-5398 UR - https://doi.org/10.2991/agc-18.2019.109 DO - 10.2991/agc-18.2019.109 ID - Nurhalis2019/01 ER -