Pengaruh karakteristik perusahaan terhadap keputusan pendanaan (Perbandingan antar sub sektor industri manufaktur)

Abstract

The aim of this paper is to determine the difference between the financial decisions and the influence of firm characteristics on the financial decisions of each sub-sector of the manufacturing industry in Indonesia. Data obtained from company financial statements 2009-2011. The analysis technique used ANOVA and multiple regression. Based on the analysis it can be concluded that the total debt to total assets and short-term debt to total assets has a significant difference between the miscellaneous industry, consumer goods and basic industry and chemicals. The result suggest that short-term debt in miscellaneous industry affected by profitability and asset structure, while in the consumer goods is influenced by the size, and for the basic industry and chemicals is affected by profitability, asset structure and growth. Long-term debt in the miscellaneous industry affected by the size and business risk, while consumer goods is affected by profitability, and for the basics industry and chemicals is influenced by size , profitability and asset structure. Total debt to total assets of miscellaneous industry is affected by size, profitability, asset structure and business risk, while in the basics industry and chemicals is influenced by size and profitability.