YULLIANA EKANINGRUM, 040913021 (2013) THE ENHANCEMENT DECISION THROUGH INVESTMENT OPPORTUNITY SET (IOS): EVIDENCE TO LEVERAGE, DEBTMATURITY, AND PROTECTIVE COVENANT. Skripsi thesis, UNIVERSITAS AIRLANGGA.

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Abstract

The existences of investment opportunity that lead to deal in financing decisions are potential appearing agency conflicts. Some of the former empirical evidences revealed that the consideration of investment opportunity in the choice of leverage, debt maturity and protective covenant can be one of efforts in controlling agency conflict respectively. This study investigates the influence of investment opportunity set (IOS) towards leverage, debt maturity and protective covenant. The sample of the research is non-financial companies that are listed in Indonesia Stock Exchange, issuing and publishing bond instrument, and having positive equity for the year 2009 until 2011. This research uses confirmatory factor analysis (CFA) in the measurement of IOS and protective covenant in accordance providing more accurate and comprehensive measurement in these variables. By using linear regression method, the findings of this research are, IOS has a negative significant effect towards leverage. Meanwhile, IOS has no significant effect towards debt maturity. Mo

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