HUBUNGAN ANTARA STRUKTUR MODAL DAN SIKLUS HIDUP PERUSAHAAN SEKTOR MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2006-2010

This research aims to examine the relationship between capital structure and life cycle of manufacturing companies listed in Indonesian Stock Exhange on 2006-2010. This results on this study is expected to provide benefit in decision making related to the company�s capital structure in Indonesian manufacturing sector. This sample research are companirs that listed in Indonesian Stock Exchange on 2006-2010, that counted in the cycle of growth and mature which is selected by purposive sampling. Data analysis methods are used to perform hypothesis testing which is a regression analysis of panel data model. The results on this study showed: (1) Financial deficit has negative and not significantly related to issuance of new debt in growth companies, (2) Dividend payment has negative and not significantly related tpoo issuance of new debt in growth companies, (3) Capital Expenditure has positive and significantly related to issuance of new debt in growth companies, (4) Changes in working capital has positive and significantly related to issuance of new debt in growth companies, (5) Companies� cash flow has negative and significantly related to issuance of new debt in growth companies, (6) Profitability has positive and not significantly related to issuance of new debt in mature companies, (7) Tangibility has positive and not significantly related to issuance of new debt in mature companies, (8) Size has negative and significantly related to issuance of new debt in mature companies, (9) Non Debt Tax Shield has negative and significantly related to issuance of new debt in mature companies, (10) Growth has positive and not significantly related to issuance of new debt in mature companies, (11) Financial deficit has positive and significantly related to issuance of new debt in mature companies, (12) Dividend payment has negative and significantly related to issuance of new debt in mature companies, (13) Capital Expenditure has positive and significantly related to issuance of new debt in mature companies, (14) Changes in working capital has positive and significantly related to issuance of new debt in mature companies, (15) Companies� cash flow has positive and significantly related to issuance of new debt in mature companies