THE EFFECT OF DEBT TAX SHIELD AND NON DEBT TAX SHIELD ON CAPITAL STRUCTURE ON ADVERTISING PRINTING MEDIA COMPANIES LISTED IN INDONESIA STOCK EXCHANGE

##plugins.themes.academic_pro.article.main##

Tengku Eka Susilawaty

Abstract

To measure the proportion of debt and equity used as a source of company funding, it can be seen from the capital structure because the capital structure is a comparison between debt and equity. This study aims to examine the debt tax shield and non-debt tax shield on the capital structure of advertising printing media companies listed on the Indonesia Stock Exchange. The research approach used in this study is associative. The sample used is a saturated sample of 13 companies for the year 2017-2019. The data analysis technique used is descriptive statistics, multiple linear regression test of panel data model, hypothesis testing (t-test and F-test) and coefficient of determination test. The results of this study indicate that partially debt tax shield and non-debt tax shield have an effect on capital structure. Then the debt tax shield and non-debt tax shield simultaneously affect the capital structure. Thus, decision makers can consider these ratios as a tool of consideration in making policies in the tax system in companies.

##plugins.themes.academic_pro.article.details##

How to Cite
Susilawaty, T. E. (2021). THE EFFECT OF DEBT TAX SHIELD AND NON DEBT TAX SHIELD ON CAPITAL STRUCTURE ON ADVERTISING PRINTING MEDIA COMPANIES LISTED IN INDONESIA STOCK EXCHANGE. Enrichment : Journal of Management, 12(1), 639-646. Retrieved from https://enrichment.iocspublisher.org/index.php/enrichment/article/view/248

References

[1] Agus Sartono. 2010. Manajemen Keuangan Teori Dan Aplikasi. 4th ed. Yogjakarta: BPFE.
[2] Brealey, Myears, dan Marcus. 2008. Dasar-Dasar Manajemen Keuangan Perusahaan. 5th ed. Jakarta: Erlangga.
[3] Brigham, Eugene F. dan Houston. 2006. Fundamental of FinancialManagement: Dasar-Dasar Manajemen Keuangan. 10th ed. Jakarta: Salemba Empat.
[4] Djumahir. 2014. “Pengaruh Variabel-Variabel Tax Shield Dan Non-Tax Shield Terhadap Struktur Modal Dan Nilai Perusahaan.” Paper Knowledge . Toward a Media History of Documents 8(3):302–21.
[5] Jensen, Michael C. 2009. “Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers.” Corporate Bankruptcy 11–16. doi: 10.1017/cbo9780511609435.005.
[6] Kasmir. 2015. Analisis Laporan Keuangan. 1st ed. Jakarta: PT RajaGrafindo Persada.
[7] Krisnanda, P., and I. Wiksuana. 2015. “Pengaruh Ukuran Perusahaan, Pertumbuhan Penjualan, Dan Non-Debt Tax Shield Terhadap Struktur Modal Pada Perusahaan Telekomunikasi Di Bursa Efek Indonesia.” E-Jurnal Manajemen Universitas Udayana 4(5):254463.
[8] Masdar Masúd. 2008. “Analisis Faktor-Faktor Yang Mempengaruhi Struktur Modal Dan Hubungannya Terhadap Nilai Perusahaan.” Manajemen Dan Bisnis 7.
[9] Modigliani, Franco. 2014. “The Cost Of Capital, Corporation Finance And The Theory Of Investment.” Paper Knowledge . Toward a Media History of Documents 48(3):261–97.
[10] Mutamimah. 2003. “Analisis Struktur Modal Pada Perusahaan-Perusahaan Non Finansial Yang Go Public Di Pasar Modal Indonesia.” Jurnal Bisnis Strategi 11(8):71–82.
[11] Ruhiyat, Muhammad Supriyono; Meydia Syaputri; Melanda Yunita; Wulan Lestari; Endang. 2017. “Pengaruh Non Debt Tax Shield Dan Risiko Bisnis Terhadap Struktur Modal.” Skripsi. Universitas Pasundan Bandung (2010):42–49.
[12] Sunarsih, Sunarsih. 2004. “Analisis Simultanitas Kebijakan Hutang Dan Kebijakan Maturitas Hutang Serta Faktor-Faktor Yang Mempengaruhinya.” Jurnal Siasat Bisnis 1(9):66–84. doi: 10.20885/jsb.vol1.iss9.art5.
[13] Syafrida Hani. 2015. Teknik Analisa Laporan Keuangan. Medan: UMSU Press.
[14] Waluyo. 2012. Akuntansi Pajak. Jakarta: Salemba Empat.
[15] Wulandari, Dessy Ayu, and Januri Januri. 2020. “Pengaruh Profitabilitas Dan Non Debt Tax Shield Terhadap Struktur Modal Pada Perusahaan Manufaktur Sub Sektor Farmasi Yang Terdaftar Di Bursa Efek Indonesia.” Jurnal Riset Akuntansi Dan Bisnis 20(1):45–50. doi: 10.30596/jrab.v20i1.4871.