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Abstrak :
[ABSTRAK
Tujuan dari penelitian ini adalah untuk mengeksplorasi faktor-faktor yang mempengaruhi struktur modal di Indonesia dengan mengunakan book leverage dan market leverage sebagai variabel dependen. Dengan menggunakan analisis regresi berganda, penelitian memakai perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia selama periode 2010-2014. Sampel akhir terdiri dari 112 perusahaan manufaktur. Hipotesis tentang keputusan leverage dirumuskan berdasarkan teori struktur modal, terutama teori trade-off, teori pecking order dan teori agency. Regresi dijalankan dengan mempertimbangkan delapan variabel penjelas yang meliputi ukuran perusahaan, profitabilitas, peluang pertumbuhan, aset tangible, pajak, risiko perusahaan, kondisi pasar saham, dan variabel makroekonomi. Hasil empiris menyajikan hubungan yang signifikan antara aset, umur perusahaan, profitabilitas, rasio market to book, aset tangible, macro economic grow, PDB dan variabel book leverage. Di sisi lain, faktor yang signifikan pada market leverage adalah umur perusahaan, profitabilitas, rasio market to book, pertumbuhan aset, capital expenditure, effective tax rate, macro industry growth dan PDB. ABSTRACT
The aim of this study is to explore the factors that affect the capital structure in Indonesia by taking book leverage and market leverage as the dependent variables. Using multiple regression analysis, listed manufacturing companies in Indonesian Stock Exchange was examined for the period of 2010-2014. The final sample consist of 112 manufacturing companies. Hypotheses about leverage decisions are formulated based on capital structure theories, mainly trade-off theory, pecking order theory and agency theory. Regression considers eight explanatory variables that include firm size, profitability, growth opportunity, tangibility, taxes, firm risk, stock market conditions, and macroeconomic variables. The empirical result presents the significant relationship between asset, age, profitability, market to book ratio, tangible asset, macro industry growth, GDP and book leverage variables. On the other hand, factors that have significant effect on market leverage are age, profitability, market to book ratio, asset growth, capital expenditure, effective tax rate, macro industry growth and GDP., The aim of this study is to explore the factors that affect the capital structure in Indonesia by taking book leverage and market leverage as the dependent variables. Using multiple regression analysis, listed manufacturing companies in Indonesian Stock Exchange was examined for the period of 2010-2014. The final sample consist of 112 manufacturing companies. Hypotheses about leverage decisions are formulated based on capital structure theories, mainly trade-off theory, pecking order theory and agency theory. Regression considers eight explanatory variables that include firm size, profitability, growth opportunity, tangibility, taxes, firm risk, stock market conditions, and macroeconomic variables. The empirical result presents the significant relationship between asset, age, profitability, market to book ratio, tangible asset, macro industry growth, GDP and book leverage variables. On the other hand, factors that have significant effect on market leverage are age, profitability, market to book ratio, asset growth, capital expenditure, effective tax rate, macro industry growth and GDP.]

Abstrak :
ABSTRACT
Skripsi ini menganalisis pengaruh market timing khusus terhadap struktur modal perusahaan yang tercatat pada Indeks Saham Syariah Indonesia (ISSI) dengan menggunakan factor market timing yaitu EFWAMTB dan EWAMTB, rata-rata perubahan permintaan yield, rasio market to book, profitabilitas, tangibilitas, size dan risk terhadap leverage baik book leverage maupun market leverage. Data variabel-variabel tersebut disusun menjadi data panel dan dilakukan analisis menggunakan metode OLS. Hasil penelitian ini menunjukkan proksi market timing memiliki hubungan negatif terhadap perubahan leverage sementara perubahan permintaan yield berhubungan posistif terhadap perubahan leverage. Hasil penelitian ini konsisten dengan apa yang telah diteliti oleh Baker dan Wurgler pada tahun 2002 yang mengukur proksi market timing dengan struktur modal pada waktu sebelum IPO, saat IPO dan setelah IPO.

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ABSTRACT
This undergraduate thesis analyzes the influence of specific market timing on the companys capital structure recorded in the Indonesian Sharia Stock Index (ISSI) using a market timing factor EFWAMTB and EWAMTB, average yield demand changes, market to book ratio, profitability, tangibility, size and risk to leverage both book leverage and market leverage. The data of these variables are arranged into panel data and analyzed using the OLS method. The results of this study indicate that the market timing proxy has a negative relationship to leverage changes while changes in yield demand are positively related to changes in leverage. The results of this study are consistent with what was examined by Baker and Wurgler in 2002 who measured the proxy of market timing with the capital structure at the time before the IPO, during the IPO and after the IPO.

Abstrak :
Penelitian ini bertujuan untuk menganalisis pengaruh corporate diversification terhadap keputusan struktur modal pada perusahaan non keuangan yang terdaftar di Bursa Efek Indonesia periode 2008-2012. Variabel independen dalam penelitian ini adalah total diversification, related dan unrelated diversification, sedangkan variabel dependennya adalah book leverage ratio, market leverage ratio, dan longterm market leverage ratio. Diversifikasi diukur dengan entropy index. Penelitian ini menggunakan uji analisis data panel dengan jumlah data observasi adalah 675. Penelitian ini membuktikan bahwa: 1) Terdapat pengaruh signifikan antara total diversification terhadap struktur modal yang diproksikan oleh longterm market leverage ratio. 2) Related diversification tidak signifikan berpengaruh terhadap struktur modal perusahaan. 3) Unrelated diversification juga tidak signifikan berpengaruh terhadap struktur modal perusahaan. ...... This research aims to analyze the effect of corporate diversification on capital structure decision of non-financial companies listed on the Indonesian Stock Exchange in 2008-2012. Diversification is measured by entropy index. The independent variables are total diversification, related and unrelated diversification, while the dependent variables are book leverage ratio, market leverage and longterm market leverage ratio. This study uses panel data regression to test 675 observations. This study shows that: 1) Total diversification have significant effect on capital structure which proxied by longterm market leverage ratio, 2) Related diversification doesn?t have significant effect on capital structure. 3) Unrelated diversification also doesn?t have significant effect on capital structure.