ASYMMETRIC INFORMATION, INVESTMENT OPPORTUNITY,
PROFITABILITY, DIVIDEND DAN KEBIJAKAN LEVERAGE
PERUSAHAAN MAKANAN MINUMAN
Gabungan Pengusaha Nasional Angkatan Sungai, Danau & Penyebrangan (GAPASDAP)
Pecking order theory is a theory that emphasizes the manager chooses to use retained earnings to fund the company rather than debt and the last alternative new shares issued. This study aims to determine the influence of asymmetric information, investment opportunity, profitability and dividend on the company’s leverage. Type of data used are secondary data which are reported in the company’s financial ratios during the study period in 2006-2009. Results showed that mean of the variable asymmetric information, investment opportunity, profitability and dividend influence simultaneously to the leverage of company. There is only asymmetric information which is partially significant to influence the company leverage.
Keywords: asymmetric information, profitability, investment opportunity, dividend, leverage