| dc.description.abstract | Construction and property is the engine for the economy and has a very
important position in the growth and development of a country. This study aims to
analyze the effect of capital structure on the performance of construction and
property companies, especially in Indonesia with the observation year period from
2007 to 2010. The independent variable used is Total Debt to Total Assets
(TDTA), Short Term Debt to Total Assets (STDTA), Long Term Debt to Total
Assets (LTDTA), and Total Debt to Total Equity (TDTE). Those Independent
variables will be analyzed the effect on accounting-based performance, that are
Return on Assets (ROA), Return on Equity (ROE) and market based, that are
Market Value of Equity to the Book Value of Equity (MBVR) and the ratio of
Tobin's Q. This study uses a quantitative approach with a model of linear
regression analysis. Data which is the object of this study were taken from the
annual financial statements of 38 construction and property companies listed on
the Indonesia Stock Exchange during the period 2007 to 2010.
The results showed that ROA is affected negative and significant by
STDTA and LTDTA, positively insignificant influenced by TDTA and
negatively insignificant influenced by TDTE. ROE is affected negatively
significant by TDTE, negatively insignificant by STDTA, LTDTA and positively
insignificant by TDTA. MBVR affected negatively significant (significancy
10%) by TDTA, positively significant by STDTA, TDTE and positively
insignificant by LTDTA. Tobin's Q ratio is negatively insignificant affected by
TDTA and TDTE and positively insignificant by STDTA and LTDTA. | en_US |
