Fakultas Ekonomi - Akuntansi, JIMA Vol. 1 No. 1, Januari 2014 (Views: 1641)

PENGARUH STRUKTUR MODAL DAN CAPITAL EXPENDITURE TERHADAP NILAI PERUSAHAAN

Hanes Hindrawan

ABSTRAK

Growth opportunities of each company is different from one another. These differences lead to financial decision making to achieve corporate objectives of different. This study discusses the effect of capital structure (LDE) and capital expenditure (CER) to the value of the firm (PBV) in manufacturing companies with high growth opportunity and low growth opportunity listed on the Stock Exchange.The purpose of this study is to understand the effect of PBV, LDE, and CER in manufacturing companies with high and low growth opportunity that is listed on the Stock Exchange in 2010. The samples used are 74 manufacturing companies listed on the Stock Exchange, comprised of 29 companies with high growth opportunity and the 45 companies with low growth opportunity. The method used to test the hypothesis is the correlation coefficient, regression coefficient, t test, F test and the coefficient determinant by using SPSS 17.00 version program. F-test result on a company with high growth opportunity shows significant effect between LDE and CER simultaneously on PBV, while in a company with low growth opportunity, LDE and CER does not effect PBV. And t-test result on the company with high growth opportunity shows that LDE cannot be effected while CER can effect on PBV significantly. However in the company with low growth opportunity, LDE and CER cannot effect PBV partially.

Kata kunci: Capital Structure, Capital Expenditure, And The Value Of The Company

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