Tingkat Utang, Jatuh Tempo Utang, dan Uncertainty Perusahaan Indonesia

Angeli Aurelia, Rita Juliana

Abstract


Uncertainty seems to be one of the most important factors for economic agents in making economic decision. This study aims to investigates the effect of uncertainty on leverage and debt maturity of Indonesian companies. The sample of this study includes 479 non-financial sector companies listed in the Indonesia Stock Exchange (IDX) with period from year 2007 to 2019. The results show that uncertainty has a negative effect on corporate leverage in Indonesia, and uncertainty has a positive effect on debt maturity of small sized companies in Indonesia. Overall, the result suggest that uncertainty is one of the determinants of the leverage and debt maturity structure of companies in Indonesia.

Ketidakpastian menjadi salah satu faktor yang penting bagi agen di ekonomi dalam mengambil keputusan ekonomi. Penelitian ini bertujuan untuk meneliti pengaruh ketidakpastian terhadap tingkat utang dan struktur jatuh tempo utang perusahaan Indonesia. Sample yang digunakan pada penelitian ini adalah 479 perusahaan sektor non-keuangan yang terdaftar di Bursa Efek Indonesia (BEI) selama periode waktu 2007 sampai dengan 2019. Hasil penelitian menunjukkan bahwa ketidakpastian berpengaruh negatif terhadap tingkat utang perusahaan di Indonesia, dan ketidakpastian berpengaruh positif terhadap struktur jatuh tempo utang perusahaan berukuran kecil di Indonesia. Maka dapat disimpulkan bahwa ketidakpastian merupakan salah satu penentu tingkat utang dan struktur jatuh tempo utang pada perusahaan di Indonesia.

 

 


Keywords


Debt maturity; Uncertainty; Leverage

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References


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DOI: https://doi.org/10.17509/jrak.v9i3.31709

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