Pengaruh Praktek Pecking Order Theory Terhadap Laba Perusahaan Sektor Manufaktur Di Bursa Efek Indonesia

Abstract

Abstract

The ultimate aim of the research is to build the model detection technique  asset growth effect on firm value. This model can detect the info whether a combination of debt and equity on the liabilities side which reflects the joint funding between the lender (creditor) and shareholder (stockholder) has been a symbiotic mutualism or symbiosis parasitism. While the purpose of the research is proving the existence of the implementation decisions within the framework of debt-based financing asset.The research design is causal-explanatory. Methods of data collection Secondary form of data types. Cross section dimension is time.  The method of selecting of the sample using purposive sampling technique. Data using multiple regression analysis which produces a model as a representation of the theory. The findings of the study will be able to reveal, first, the detection of synergy effects growth models based asset debt financing. Second, the factors that affect leverage. Third, there is evidence of the implementation of the debt-based financing. Fourth, detection effects of assets growth to  the value of the company. The findings are expected to be technical aids are more effective and practical in financial decision making. The results of the data analysis showed that ,the first all manufacturing company in Indonesia Stock Exchange practises  Pecking order theory, Second the reason of companies do POT is the increase of ratio of fixed asset over the total asset (the growth of fixed assets ) and the third, the debt-based financing undertaken by the company is more profitable for shareholders

Keywords: leverage, profitabilitas, activity