ARTÍCULO
TITULO

Determinants of Debt Policy of Real Estate and Property Companies Listed on the Indonesia Stock Exchange

Endri Endri    
Bob Mustafa    
Oscar Rynandi    

Resumen

This study aims to examine and analyze the effect of corporate tax rate, non-debt tax shield, investment opportunity set, profitability, and sales growth to the level of debt (leverage) on real estate and property companies listed on Indonesia Stock Exchange Period 2011-2015. This study uses panel data regression with fixed effect model to estimate 40 companies selected through purposive sampling. The results showed that corporate tax rate, non-debt tax shield, investment opportunity set, profitability, and sales growth have a significant effect simultaneously on debt level. Partially, from the five independent variables are known there are three variables that significantly affect the leverage of corporate tax rate, investment opportunity set, profitability, while the other two variables namely Non-debt Tax Shield and Sales Growth have no significant effect. This shows that Non-debt Tax Shield and Sales Growth statistically does not affect the level of debt in the real estate and property companies listed on the Indonesia Stock Exchange.Keywords: Tax, Shield, Profitability, Leverage, Property.JEL Classifications: E10, E32, E60DOI: https://doi.org/10.32479/ijefi.7618

 Artículos similares

       
 
Mehtap Özsahin,Senay Yürür,Erman Coskun     Pág. 26 - 33
This research aims to exploratively search relevant psychological determinants for debt repayment behavior. In this regard, the research question is: Which psychological factors affect the debt repayment behavior? Some research in literature argue that t... ver más

 
Noor Nahar Begum,Md Aktar Kamal     Pág. 266 - 275
An efficient and well-functioning government bond market is often considered important to the smooth functioning of financial markets more generally. To enhance corporate bond financing, it is important to examine factors that affect the effective develo... ver más

 
Arafat Mansoor Al-raeai,Zairy Zainol,Ahmad Khilmy bin Abdul Rahim     Pág. 333 - 339
Macroeconomic factors are regional or national economic factors which externally impact the financial strategies of governments and corporations, including debt financing decisions. The literature related to the financial management acknowledges the sign... ver más

 
Abdul Waheed     Pág. 234 - 240
This study investigates the macroeconomic determinants of external debt in oil & gas exporting and importing countries. The study uses panel data of 12 oil & gas exporting and 12 oil & gas importing countries covering the period 2004-2013. The study iden... ver más

 
Nhung Thi Phuong Nguyen,Lien Phuong Nguyen,Hang Thi Thu Dang     Pág. 270 - 282
This study adopts a two - step system general method of moments (GMM) approach towards investigating the determinants of capital structure for the listed real estate firms on Ho Chi Minh stock exchange (HSX) in Viet Nam from 2010 to 2015. The determinant... ver más