A THEORETICAL MODEL FOR THE CROSS SECTION OF THE LIQUIDITY, FIRM SIZE, EARNINGS VOLATILITY, AND LEVERAGE IN INDONESIA

Irdha Yusra

Abstract


Basically, every company requires capital in order to finance its operational activity and to expand their business so capital becomes one of the important elements in a company. When the capital which is owned by the company is large the operational activity that can be conducted is large as well. This research is meant to test the influence of liquidity, firm size, earnings volatility, to the leverage. The population is all companies which are listed in Indonesia Stock Exchange in 2013-2017 periods. The sample collection technique has been carried out by using purposive sampling method and based on the predetermined criteria, 86 companies have been selected as samples. The data of the financial statement of the companies has been obtained from the official website of IDX. The analytical method used is regression analysis of panel data with the help of application E-Views 8. The initial test is to test the Chow-Test to decide whether the Pooled Least Square or Fixed Effect method is used, and the test Hausman-Test to decide whether the Fixed Effect or Random Effect method can be used. The result of the research shows that the variable liquidity has a negative and significant effect on leverage, firm size has a negatif and not significant on levearge, while earning volatility does not have any significant influence on leverage.

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DOI: https://doi.org/10.31846/jae.v7i3.238

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