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"Penelitian ini memiliki tujuan untuk melihat pengaruh dari struktur kepemilikan terhadap keputusan mengenai struktur modal perusahaan di Indonesia. Sampel yang digunakan dalam penelitian ini mencakup perusahaan yang terdaftar di Bursa Efek Indonesia periode 2009 hingga 2018. Total keseluruhan sampel perusahaan yang diteliti berjumlah 255 dengan tidak memasukkan perusahaan keuangan, utilitas, transportasi, dan infrastruktur. Penelitian ini mengukur struktur kepemilikan dengan menggunakan empat variabel independen yaitu kepemilikan terkonsentrasi, kepemilikan manajerial, kepemilikan institusional, dan kepemilikan negara, dengan leverage sebagai variabel dependen. Hasil penelitian menunjukkan tiga dari empat variabel independen memiliki hubungan yang signifikan ke arah negatif terhadap leverage, sementara variabel kepemilikan institusional menunjukkan hubungan yang positif namun tidak signifikan. Hasil ini mengindikasikan bahwa kepemilikan terkonsentrasi, kepemilikan manajerial, kepemilikan institusional, dan kepemilikan negara memiliki hubungan berbanding terbalik terhadap leverage yang mempunyai fungsi pengawasan dana perusahaan.

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This study aims to see the effect of ownership structure on capital structure decision of companies in Indonesia. The sample used in this study includes companies listed on the Indonesia Stock Exchange from 2009 to 2018 with a total of 255 samples, excluding financial, utilities, transportation, and infrastructure companies. This study measures ownership structure using four independent variables, namely concentrated ownership, managerial ownership, institutional ownership, and state ownership, with leverage as the dependent variable. The results showed that three out of four independent variables had a significant and negative relationship to leverage, while the institutional ownership variable showed a positive but insignificant relationship. These results indicate that concentrated ownership, managerial ownership, institutional ownership, and state ownership have an inversely related relationship to leverage that has a function of monitoring corporate funds."

"in this study, the impact of capital structure on firms' ownership structure is examined. Therefore, manufacturing firms whose stocks are quoted on the Istanbul Stock Exchange (ISE) over the period 1998 and 2009 are covered using pooled data. On the developed model, it was investigated how ownership structure is affected by the capital structure. According to the reesults of the regression model, it has been found that firms which have less shareholders choose higher-risk capital structures because of increasing firms value. Furthermore, provided that capital intensity becomes higher, firms must hire professional managers. In the instance, professional manager prefer equity financing for preventing financial distressess. In summary, this study concludes that firms' ownership structure affects capital structure. "

"Penelitian ini bertujuan untuk melihat adanya hubungan non-linear antara kepemilikan manajerial dan kepemilikan manajerial kuadrat serta large shareholder dan large shareholder kuadrat terhadap debt maturity pada perusahaan non keuangan yang terdaftar di Bursa Efek Indonesia (BEI) periode 2006-2012.Penelitian menggunakan multiple regression model dengan menggunakan 388 data observasi.Hasil penelitian menunjukkan kepemilikan manajerial signifikan dengan debt maturity namun kepemilikan manajerial kuadrat tidak signifikan dengan debt maturity. Selain itu, large shareholder menunjukkan hasil tidak signifikan terhadap debt maturity.

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This examination is purposed to explain the non-linear relationship between managerial ownership, managerial ownership square,and large shareholder ownership, large shareholder square to debt maturity on non financial companies which is listing in Indonesia Stock Exchande period 2006-2012. This study uses multiple regression with 388 observations.This study results managerial ownership has negative significant relationship with debt maturity. However, managerial ownership square has no significant relationship with debt maturity. Besides, large shareholders has no significants relationship with debt maturity."

"Teorema yang mendukung pendapat bahwa struktur modal dan struktur kepemilikan dapat mengontrol biaya agensi diantaranya berasal dari Jensen dan Meckling (1976), Fama dan Jensen (1983), Ang dan Cox (1997), Shleifer dan Vishny (1986). Berdasarkan hal tersebut, penelitian ini lebih lanjut ingin menganalisis faktor-faktor apa saja yang mempengaruhi struktur modal dan struktur kepemilikan dengan melihat pengaruh dividend, profitability, asset structure, liquidity, growth, dan size terhadap leverage sebagai proksi dari struktur modal serta institutional ownership (IO) dan percentage of institutional ownership (PIO) sebagai proksi dari struktur kepemilikan. Penelitian ini menggunakan metode panel data regression dengan sampel perusahaan non keuangan yang terdaftar di Bursa Efek Indonesia pada tahun 2008-2012.Hasil penelitian menunjukan bahwa: (1) institusional ownership (IO), profitability, asset structure, liquidity, growth, dan size memiliki pengaruh yang signifikan terhadap struktur modal yang diproksikan melalui leverage. (2) liquidity dan size memiliki pengaruh yang signifikan terhadap struktur kepemilikan yang diproksikan melalui institutional ownership (IO). (3) leverage, liquidity dan size memiliki pengaruh yang signifikan terhadap struktur kepemilikan yang diproksikan melalui percentage of institutional ownership (PIO).

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Theorems which supports the idea that the capital structure and ownership structure can control the agency costs of which are from Jensen and Meckling (1976), Fama and Jensen (1983), Ang and Cox (1997), Shleifer and Vishny (1986). Accordingly, this study further aims to analyze the determinant factors which have influenced the capital structure and ownership structure by looking at the effect of the dividend, profitability, asset structure, liquidity, growth, and the size to the leverage as the proxy of capital structure, also institutional ownership (IO) and the percentage of institutional ownership (PIO) as the proxies of the ownership structure. This study uses data panel regression with a sample of nonfinancial companies listed on the Indonesia Stock Exchange in the year 2008-2012.

The results showed that : (1) institutional ownership (IO), profitability, asset structure, liquidity, growth, and size have a significant effect on the capital structure which is proxied by leverage. (2) the liquidity and size have a significant effect on the ownership structure which is proxied by institutional ownership (IO). (3) leverage, liquidity and size have a significant effect on the ownership structure which is proxied by percentage of institutional ownership (PIO)."

"Penelitian ini bertujuan untuk menganalisis pengaruh struktur dewan two-tier dan struktur kepemilikan terhadap kinerja dan keinformatifan laba perusahaan yang terdaftar di Bursa Efek Indonesia periode 2007-2012. Penelitian ini menggunakan data panel dengan jumlah observasi adalah 258 perusahaan non-keuangan. Penelitian ini membuktikan bahwa: 1) adanya pengaruh signifikan antara proporsi kepemilikan saham oleh direksi, proporsi komisaris independen dan kepemilikan institusi terhadap kinerja perusahaan, 2) adanya pengaruh signifikan antara kepemilikan saham oleh direksi, dan kepemilikan institusi asing terhadap keinformatifan laba perusahaan.

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This study analyzes the effect of two-tier board and ownership structure on performance and earning informativeness of non-financial companies listed on the Indonesia Stock Exchange in 2007-2012. This study uses panel data to test of 258 non-financial companies. This study proves that: 1) the proportion of shares owned by the members of board of directors, the proportion of independent members of commisioner committee and the proportion of shares owned by institutes have a significant effect on company performance, 2) the proportion of shares owned by the members of the board, and the proportion of shares owned by the foreign institutes have significant effect on earning informativeness."

"Penelitian ini bertujuan untuk menganalisis pengaruh elemen-elemen corporate governance, seperti board structure, ownership structure, board procedure, disclosure, related party transaction, dan minority shareholder rights terhadap nilai perusahaan dengan menggunakan variabel kontrol berupa assets, leverage, growth, net income to assets, share turnover, ownership, earning before interests and taxes to assets, top auditor, dan CCGPI. Data yang digunakan dalam penelitian ini bersumber dari laporan tahunan, laporan keuangan, serta laporan survei corporate governance perception index yang dikeluarkan oleh IICG tahun 2005-2011. Sampel tersebut diperoleh dengan metode purposive sampling. Metode pengujian hipotesis yang digunakan dalam penelitian ini adalah metode regresi linier berganda.Hasil penelitian ini menunjukkan bahwa board structure, institutional ownership, disclosure, related party transaction, ownership, dan earning before interests and taxes to assets memiliki pengaruh yang signifikan dengan arah yang positif, sedangkan leverage dan share turnover memiliki pengaruh yang negatif dan signifikan terhadap Tobin?s Q. Sementara itu, managerial ownership, board procedure, minority shareholder rights, assets, growth, net income to assets, top auditor, dan CCGPI tidak memiliki pengaruh yang signifikan terhadap variabel Tobin's Q.

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The research aims to analyze the effect of corporate governance elements, such as board structure, ownership structure, board procedure, disclosure, related party transactions, and minority shareholder rights to firm value using some of the control variables, such as assets, leverage, growth, net income to assets, share turnover, ownership, earning before interest and taxes to assets, top auditor, and CCGPI. The data used in this research derived from annual reports, financial statements, and report of corporate governance perception index survey released by IICG at years 2005 - 2011. The samples obtained by purposive sampling method. Hypothesis testing methods used in this research is the multiple linear regression method.The result of this study indicate that the board structure, institutional ownership, disclosure, related party transaction, ownership, and earning before interest and taxes to assets ratio have a significant effect in positive direction, while leverage and share turnover have a negative-significant effect to Tobin's Q. Meanwhile, managerial ownership, board procedure, minority shareholder rights, assets, growth, net income to assets, top auditor, and CCGPI have no significant effect to Tobin's Q."