Pengaruh Profitabilitas, Struktur Aset, Dan Likuiditas Terhadap Struktur Modal

Abstract

This study aims to determine the effect of Profitability, Asset Structure, Liquidity, and Capital Structure for the manufacturing company in Indonesia Stock Exchange 2010-2013. The study uses secondary data sources of the data derived by the Indonesia Stock Exchange with four years study period, namely 2010-2013. The population in this study a number of 40 companies manufacturing miscellaneous industry sectors listed on the Indonesia Stock Exchange period 2010-2013. Sampling was purposive sampling method with the provisions of these companies include financial statements for duration of the study period and has positive net income and then a total sample of 18 companies. Data analysis using classical assumption test, multiple linear regression analysis, t test, F test, and coefficient of determination, and profitability, asset structure, and liquidity as independent variabel. The data of this study are qualified classical assumption test and conformance tes models with adjusted R 2 of 46,4%. Results of the analysis done of profitability, and liquidity strukturaset significant effect on the capital structure.

The Impact of Sales Growth, Profitability, and Asset Structure Toward Capital Structure

“…The Impact of Profitability toward Capital Structure Profitability has a negative impact on capital structure. The results of research conducted by Sari and Samin (2016), Ahmad et al (2017), Ariyani et al (2018), andYuwanita et al (2020) have the same research results which state that profitability has a negative impact on capital structure. These results contradict with Riyanti and Darto (2019) which shows that profitability impact positively toward capital structure.…”

“…Research conducted by Sari and Samin (2016), Ahmad et al (2017), Ariyani et al (2018), and Yuwanita et al (2020) have the same research results which state that profitability impact negatively toward capital structure. Riyanti and Darto (2019) states that profitability impact positively toward capital structure.…”

“…Research conducted by Ariyani et al (2018) concludes that asset structure has no impact with positive direction toward capital structure. Sari and Samin (2016) shows that asset structure has impact negatively toward capital structure. In addition, the results of research conducted by Suweta and Dewi (2016), Ahmad et al (2017), Aulia et al (2019), Aurelia and Setijaningsih (2020), which show that asset structure impact positively toward capital structure.…”

“…Research by Prastika and Sudaryanti (2019) shows that asset structure has no impact with negative direction toward capital structure. Ariyani et al (2018) shows that asset structure has no impact with positive direction toward capital structure and research conducted by Sari and Samin (2016) concludes that asset structure impact negatively toward capital structure. In addition, Suweta and Dewi (2016), Ahmad et al (2017), Aulia et al (2019), Aurelia and Setijaningsih (2020) which show that asset structure impact positively toward capital structure.…”

“…Second, this research use period from 2018-2020, while Aulia et al (2019) use period from 2013-2017. Third, there is an additional variable, which is profitability from Sari and Samin (2016). Based on the description above, it is necessary to analyze again the impact of sales growth, profitability, and asset structure toward capital structure.…”