Firm characteristics, financial market and Macroeconomic determinants of capital structure: Indonesian evidence
Capital structure is combination of debt and equity that is used by firms as the financial sources. The capital structure has correlation with financial distress and bankruptcy, so it is important for firms to decide the capital structure on a safe level. The studies on determinants of capital structure have been developing and the new evidences had shown that capital structure is affected by not only firms’ internal factors, but also external factors.