Faktor-Faktor Determinan Struktur Modal Pada Financial Firm Yang Listing Di Bursa Efek Indonesia

Abstract

ABSTRACT

This research aims to see Factors Determinant Capital Structure, the variable used in this research consist of profitability, liquidity, business risk, sales growth, and firm size impact on capital structure. The measurement used include ROA, NPL, LDR, formula of sales growth and total assets. The population in this research Of financial firm listed on Indonesia Stock Exchange period 2017-2019. The selection research samples using purposive sampling amounting 21 companies. The date analysis technique used is a double linear regression analysis. The result showed that ROA, NPL, and LDR affects negative and significant impact on capital structure, while sales growth and firm size affect positive and insignificant impact on capital structure. In this study also used a determinant test (R2) and obtained a value of 14% variation of the dependent variable that is the capital structure explained by five variations of independent variables namely Profitability, Liquidity, Business risk, Sales growth, and company size. 

Keywords: Profitability, Liquidity, Business risk, Sales growth, Firm size, Capital structure.