STRUKTUR MODAL DI PERUSAHAAN MANUFAKTUR ASEAN TERINDEKS SYARIAH

Recent studies of capital structure in developing countries are very limited in knowledge, despite gaining popularity. The existence of sharia indexed shares is an important element that has many research issues. In addition, Islamic-based companies seek to create opportunities to answer questions related to debt ratios. This is because the existence of a sharia index creates a set of companies that is more homogeneous than a non-Islamic index with respect to capital structure. This study uses panel data from 462 firm-year observations. The data obtained were 66 sharia-indexed manufacturing companies in ASEAN in the 2013-2019 period. This data was selected through purposive sampling technique. The results of this study indicate that most of the company's characteristics have a positive effect on capital structure. Corporate governance and ownership structure do not fully influence the size of the capital structure. The research seeks to add evidence of a new structure in sharia indexed manufacturing compani