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Perusahaan yang mempunyai rasio leverage yang tinggi, berarti proporsi hutangnya lebih tinggi dibandingkan dengan proporsi aktivanya akan cenderung melakukan manipulasi dalam bentuk manajemen laba. Dan apakah ada pengaruhnya bagi internal maupun eksternal perusahaan? Namun teori trade off mengasumsikan bahwa perusahaan yang memiliki profitabilitas yang tinggi biasanya lebih menggunakan hutang dalam struktur permodalannya untuk meningkatkan benefit dan tax.

Rasio utang terhadap ekuitas (debt‐to‐equity ratio) adalah rasio leverage dengan membandingkan proporsi relatif utang dan modal dalam struktur modal perusahaan Cara mengelola manfaat utang perusahaan dengan tepat. Secara spesifik, itu mengukur seberapa besar modal utang dibandingkan dengan modal ekuitas

Rasio lebih tinggi mengindikasikan leverage yang lebih tinggi dan dianggap lebih berisiko karena bagaimanapun, tingkat utang yang.

Hasil penelitian menggunakan regresi data panel menunjukkan bahwa likuiditas, profitabilitas, dan ukuran perusahaan secara bersamaan mempengaruhi nilai perusahaan. Salah satu faktor utama yang mempengaruhi nilai perusahaan adalah kebijakan dividen, yang memberikan sinyal kepada investor tentang stabilitas keuangan dan prospek pertumbuhan perusahaan. Lakukan analisis manfaat dan risiko penggunaan utang perusahaan terhadap laba

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