Asymmetric Information in New Investment: Evidence in Indonesia
Arief Yulianto,
Widiyanto Widiyanto,
Rini Witiastuti
Abstract:Intra-industry sectors are producers of asymmetric information, which in turn has an impact on capital structure decisions. The purpose of this study was to determine (1) differences in debt-equity ratio, growth opportunities, firm age, and firm size as firm characteristics and (2) differences in the effect of growth opportunities, firm age, and firm size on the debt-equity ratio between manufacturing and nonmanufacturing firms. We collected 3,063 observation units consisting of 2,628 manufacturing sectors and… Show more
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