PENGARUH LIKUIDITAS DAN STRUKTUR ASET TERHADAP STRUKTUR MODAL DENGAN PROFITABILITAS SEBAGAI VARIABEL MODERASI
Main Article Content
Abstract
The purpose of this study was to examine the effect of liquidity and asset structure on
capital structure with profitability as a moderating variable in manufactures listed on
the Indonesia Stock Exchange (IDX) with a research period of 2015-2019. This study
using purposive sampling method and obtained 175 company data from the financial
statements of manufacturing companies in IDX official website. The data processing
technique uses multiple regression analysis and moderator regression analysis (MRA)
and also uses the SPSS version 17. The results of this study indicate that liquidity and
asset have a negative and significant effect on capital structure. Meanwhile,
profitability moderate liquidity to capital structure but profitability does not moderate
asset structure to capital structure
Article Details
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
This work is licensed under a Jurnal Komunikasi Creative Commons Attribution-ShareAlike 4.0 International License.
References
Andika, I. K. R., & Sedana, I. B. P. (2019). Pengaruh profitabilitas, struktur aktiva, dan
ukuran perusahaan terhadap struktur modal. E-Jurnal Manajemen, 8(9), 5803-
Chow, Y. P. (2019). Sectoral Analysis of the Determinants of Corporate Capital
Structure in Malaysia. Organizations and Markets in Emerging Economies,
(20), 278-293.
Falencia., & Dewi, S. P. (2020). Faktor- Faktor Yang Mempengaruhi Struktur Modal
Pada Perusahaan Manufaktur di BEI. Jurnal Multiparadigma Akuntansi
Tarumanagara, Vol. 2,1334- 1342.
Ghozali, I. (2020). Aplikasi Analisis Multivariate dengan Program IBM SPSS 25.
Badan Penerbit Universitas Diponegoro: Semarang.
Hery. (2019). Analisis Laporan Keuangan: PT. Gramedia Widiasarana Indonesia,
Jakarta
Kakililli, A. S. (2015). The Determinants of Capital Structure:Evidence from the
Turkish Manufacturing Sector. International Journal of Economics and Financial
Issues, Vol.5, No 1, 158-171
Lianto, V., Sinaga, A. N., Susanti, E., Yaputra, C., & Veronica. (2020). Journal of
Economic, Business and Accounting , Vol. 3, No 2, 282-291.
Marlina, H. N. F., & Br.Pinem, D. (2020). Effect of Liquidity, Profitability, and Sales
Growth on Capital Structure. International Humanities and Applied Sciences
Journal, Vol. 3, No 2, ISSN 2655-6553.
Muslimah, D. N., Suhendro, S., & Masitoh, E. (2020). Faktor-Faktor yang
Mempengaruhi Struktur Modal pada Perusahaan Property dan Real Estate yang
Terdaftar di BEI. Jurnal Ilmiah Universitas Batanghari Jambi, 20(1), 195-200.
Myers, Stewart C. (2001)"Capital structure." Journal of Economic perspectives 15.2
(2001): 81-102.
Myers, S. C., and Majluf, N. S. (1984). “Corporate financing and investment decisions
when firms have information that investors do not have”, Journal of Financial
Economics 13, 187-221.
Nur’aini, A., Masitoh, E., & Chomsatu, Y. (2020). Faktor-Faktor Yang Mempengaruhi
Struktur Modal Dengan Profitabilitas Sebagai Variabel Moderasi. Jurnal
Akuntasi,Vol 8, No 1, 67-80.
Pardanawati, S. L. (2021). The Effect Of Likiudity, Company Size, And Asset Structure
On Structure Trading Company Capital In The IDX. International Journal of
Economics, Bussiness and Accounting Research, Vol 5, No 2, 510-519.
Saif-Alyousfi, A. Y. H., Md-Rus, R., Taufil-Mohd, K. N., Taib, H. S., & Shahar, H. K. (
. Determinants of Capital Structure: Evidence From Malaysian firms. AsiaPacific Journal of Business Administration.
Setiawati, M., & Veronica, E (2020). Pengaruh Profitabilitas, Struktur Aset, Ukuran
Perusahaan,Risiko Bisnis, Pertumbuhan Penjualan, Pertumbuhan perusahaan,
Likiuditas Terhadap Struktur Modal Pada Perusahaan Sektor Jasa Periode 2016-
Jurnal Akuntansi Maranatha, Vol. 12, No 2, 294-312.
Sharma, S., Richard M. D., and Oded Gur-Arie. (1981). “Identification and Analysis of
Moderator Variables.” Journal of Marketing Research 18(3):29.
Srimindarti, C., Ardiansyah, F. D. S., Hardiningsih, P., & Oktaviani, R. M. (2019).
Profitability Moderate The Effect OfFirm’s Characteristic On Capital Structure.
Jurnal Akuntasi, Vol. 23, No 2, 213-229.
Sugiyono. (2013). Metode Penelitian Kuantitatif, Kualitatif dan R&D. Bandung:
Alfabeta.CV
Susantika, B., & Mahfud, M. K. (2019). Pengaruh Ukuran Perusahaan , Likiuditas, dan
Struktur Aktiva Terhadap Struktur Modal Dengan Profitabilitas Sebagai Variabel
Intervening. Diponegoro. Journal Of Management, Vol. 8, No 1, 137-150.
Wulandari, B., Lumbantoruan, V. M. L., Naibaho, J. W., Regina, W., Zufriansyah, R.
C., & Okto, F. (2020). Pengaruh Ukuran Perusahaan, Struktur Aset, Pertumbuhan
Penjualan, Profitabilitas dan Current Ratio terhadap Struktur Modal Pada
Perusahaan Manufaktur Yang Terdaftar di Bursa Efek Indonesia. COSTING:
Journal of Economic, Business and Accounting, 4(1), 156-166.