Determinan Dan Kecepatan Penyesuaian Struktur Modal Perusahaan Pada Sektor Pertanian Di Bursa Efek Indonesia

This study examine variables determinant of agricultural sector firms’ capital structure based on predictions of the trade-off theory and the pecking order theory. Using a dynamic model estimated the average speed of adjustment towards the target leverage approximately 40 percent per year. Variables that significantly explained the capital structure, ielagged leverage, profitability, growth opportunities, and liquidity. In general, the pecking order theory is more powerful in explaining the capital structure than thetrade-off theory.