Analisis Faktor-faktor yang Memengaruhi Struktur Modal

Abstract

The purpose of this study is to examine and obtain empirical the factors that influence of the capital structure of a company. The research variables consist of profitability, non-debt tax shields, firm size, growth opportunities, and asset structure. The sample in this study consisted of 32 manufacturing companies consumer goods industry listed on the Indonesia Stock Exchange in 2012 - 2016. Sampling method used is purposive sampling method with IPO criterion before 2012 and has complete financial report from 2012 - 2016. Statistical methods used to test the hypotheses is multiple linear regression analysis. The test result obtained that Profitability and non-debt tax shields negatively influence the capital structure. Firm size, Growth Opportunity and Asset Structure have a positive influence the capital structure. The coefficient of determination is 0.420, which shows the influence variables of profitability, non-debt tax shields, firm size, growth opportunities and asset structure on capital structure is 42 percent. While the remaining 58 percent influenced by other variables beyond this regression model.