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This paper examines the pecking order theory and whether evidence from manufacturing firms in Indonesia supports it. The paper analyzes the determinants of capital structure for these firms. Regression analysis is used to test relationships between variables like profitability, growth, size, and financial deficit on the one hand, and measures of capital structure like debt and equity on the other. The results provide substantial evidence that manufacturing firms in Indonesia follow a pecking order in their

Author

Tashrique Shahab

Language

EN