Capital Structure of State Owned Enterprises in Indonesia

This study aims to determine the effect of company size, asset structure and profitability on the capital structure of SOEs that go public on the Indonesia Stock Exchange (IDX). This study uses panel data with 16 state-owned companies listed on the Indonesia Stock Exchange for the period from 2013 to 2017. The analytical method used is multiple regression analysis with a random effect model. The results of the study show that: 1) The size of the company has a positive and not significant effect on the capital structure. 2) The asset structure has a positive and significant effect on the capital structure. 3) Profitability has a negative and significant effect on capital structure. Therefore SOEs can consider the asset structure and profitability in making funding decisions