Open AccessPENGARUH ASPEK PAJAK DAN ASPEK LAINNYA TERHADAP TINGKAT HUTANG
Author(s) -
Stephanie Soerodjo
Publication year - 2020
Publication title -
jurnal ekonomi dan bisnis airlangga
Language(s) - English
Resource type - Journals
eISSN - 2597-4564
pISSN - 2338-2686
DOI - 10.20473/jeba.v28i22018.143-159
Subject(s) - leverage (statistics) , tax shield , profitability index , debt , panel data , business , debt to equity ratio , debt ratio , monetary economics , finance , economics , econometrics , public economics , gross income , tax reform , population , demography , machine learning , sociology , computer science , state income tax , nonprobability sampling
As a developing country, Indonesia shows a quite interesting phenomenon, which is the high rate of debt of many companies in Indonesia. This fact shows that the policy of leverage plays an important role for the viability of the company. The main purpose of this research was to test empirically factors influencing leverage, for there are still inconsistencies in research results from the prior studies. Based on the data of the mining companies listed on BEI for period 2009-2011, in addition of using tax factors that consisted of Corporate tax rate and Non-debt tax shield, influencing the leverage, there are also another factors influencing leverage, which are Investment opportunity set, Profitability, Past debt, Tangibility of fixed assets, Firm size, and Cost of financial distress. The analyzed data are the combination of time series and cross-section data or, panel data, utilizing the regression model supported by the software SPSS 20 on 0,05 or 5% of significance level. The result of the study shows that at the significance level of 0,05 Corporate Tax Rate (0,543), Non–debt Tax Shield (0,518), Investment Opportunity Set (0,442), Tangibility of Fixed Assets (0,544), Firm Size (0,500), and Cost of Financial Distress (0,380) have no significant effect for the leverage. While Profitability (0,028) negatively has significance effect for the leverage at the significance of 0,05. While Past Debt (0,000) has significant positive effect on the leverage at the significance of 0,05.