摘要：This paper aimed to investigate the determinants of the capital structure of the telecommunication industry in Indonesia. The data covered the years of 2011-2017. The sample was the listed-telecommunication companies listed on the Indonesia Stock Exchange (IDX). The partial adjustment model used to identify the impact of determinant factors, namely profitability, age, risk, size, and growth on capital structure decision. The dynamic regression found that profitability, age, risk, and growth had a significant effect on TLKM capital structure. The profitability, age and size had a significant effect on ISAT capital structure. The age, risk and size had significant effect on EXCL capital structure While, no variables had a significant effect on FREN capital structure. Those factors were important to the executives in restructuring capitals or other financial decisions. This study provided insight for the potential investors and banks in evaluating risks associated with investment and loan in telecommunication companies.
关键词：partial adjustment model; struktur modal; telekomunikasi
