FAKTOR-FAKTOR YANG MEMENGARUHI STRUKTUR MODAL PERUSAHAAN SEKTOR KONSUMEN NON-CYCLICAL DI BURSA EFEK INDONESIA PERIODE 2019-2021
Article Sidebar
Read Counter : 0
Download : 0
Main Article Content
Abstract
This study aims to obtain empirical evidence regarding the effect of sales growth, asset structure, company size, profitability, and liquidity on the capital structure of non-cyclical consumer sector companies on the Indonesia Stock Exchange for the 2019-2021 period. The sample was selected by purposive sampling method and valid data were 132 data from 44 companies. The research data were processed using statistical software Eviews 12 Student Version to perform multiple linear regression analysis, classical assumption test, and hypothesis test. The results shown in this study are that asset structure and liquidity have a negative effect on capital structure. While sales growth, company size and liquidity have no effect on capital structure. The implication of this research is to become a reference for managers to consider and pay attention to the factors that affect the company's capital structure. Then, it provides a reference for investors in considering their decision to invest and also serves as a scientific reference and provides the latest information regarding 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
Angeline, B., & Sha, T. L. (2021). Faktor yang Mempengaruhi Struktur Modal pada Perusahaan Manufaktur yang Terdaftar di BEI. Jurnal Multiparadigma Akutansi, 3(2), 473–481.
Arif, I. A. I., & Mai, M. U. (2020). The Determinants of Capital Structure: A Comparative Study between Sharia and Non-Sharia Manufacturing Companies in Indonesia Stock Exchange (IDX). International Journal of Applied Business Research, 2(01), 73–85. https://doi.org/10.35313/ijabr.v0i0.67
Carnevela, C. R., & Widyawati, N. (2017). Struktur Aktiva terhadap Struktur Modal. Jurnal Ilmu Dan Riset Manajemen, 6(3).
Chandra, A., Tantoni, W., Villany, W., Lubis, M. S., & Akbar, F. (2018). Pengaruh Struktur Aktiva (Assets Structure), Return On Assets dan Pertumbuhan Penjualan (Growth Of Sales) terhadap Struktur Modal (Capital Structure) pada Perusahaan Property dan Real Estate di Bursa Efek Indonesia Tahun 2011 – 2015. Jurnal Riset Akuntansi Going Concern, 13(4).
Chandra, A., Tantoni, W., Villany, W., Lubis, M. S., & Akbar, F. (2019). Pengaruh Struktur Aktiva, Return On Assets dan Pertumbuhan Penjualan terhadap Struktur Modal pada Perusahaan Property dan Real Estate di Bursa Efek Indonesia Tahun 2011 – 2015. Jurnal Profita: Komunikasi Ilmiah Akuntansi Dan Perpajakan, 12(2), 263. https://doi.org/10.22441/profita.2019.v12.02.007
Cipto, P. K. A., Choerudin, A., & Suryanti, Y. (2019). The Factors that Affecting Structure Capital in Manufacturing Companies: the Study in Indonesia of 2012-2014. International Journal of Information, Business and Management, 11(3).
Dzikriyah, & Sulistyawati, A. I. (2020). Pengaruh Pertumbuhan Penjualan, Struktur Aktiva, Ukuran Perusahaan dan Profitabilitas terhadap Struktur Modal. Majalah Ilmiah Solusi, 18(3).
Hidayat, O. E. M., Nurlaela, S., & Samrotun, Y. C. (2021). Pengaruh Current Ratio, Struktur Aktiva dan Return on Asset terhadap Struktur Modal. INOVASI, 17(1), 217–227.
Ismawati, L., Nidar, S. R., Effendi, N., & Herwany, A. (2018). The Capital Structure’s Determinant in Firm Located in Indonesia. South East Asia Journal of Contemporary Business, Economics and Law, 15(5).
Japar, M. G., & Susanti Merry. (2020). Faktor-faktor yang Mempengaruhi Struktur Modal pada Perusahaan Manufaktur Indonesia. Jurnal Multiparadigma Akuntansi Tarumanagara, 2, 852–862.
Labibah, Z. A., & Andayani. (2019). Pengaruh Cash Holding, Profitabilitas, Ukuran Perusahaan, Likuiditas, dan Pertumbuhan Penjualan terhadap Struktur Modal. Jurnal Ilmu Dan Riset Akuntansi, 8(3).
Mursalim, Mika, M., & Hadri, K. (2017). Capital Structure Determinants and Firms’ Performance: Empirical Evidence from Thailand, Indonesia and Malaysia. Polish Journal of Management Studies, 16(1), 154–164. https://doi.org/10.17512/pjms.2017.16.1.13
Pelawi, D. S., & Sudirgo, T. (2021). Faktor-faktor yang Mempengaruhi Struktur Modal Perusahaan Manufaktur yang Terdaftar di BEI. Jurnal Multiparadigma Akuntansi, 3(1), 220–227.
Pratama, H., & Susanti, M. (2019). Pengaruh Profitabilitas, Likuiditas, Struktur Aktiva, Pertumbuhan Aktiva, Ukuran Perusahaan Terhadap Struktur Modal. Jurnal Multiparadigma Akuntansi, 1(4), 1076–1084.
Sutomo, S., Wahyudi, S., Pangestuti, I. R. D., & Muharam, H. (2020). The Determinants of Capital Structure in Coal Mining Industry on the Indonesia Stock Exchange. Investment Management and Financial Innovations, 17(1), 165–174. https://doi.org/10.21511/imfi.17(1).2020.15
Utama, P., & Nugroho, V. (2021). Analisa Profitabilitas, Likuiditas, Pertumbuhan Penjualan, Struktur Aset terhadap Struktur Modal. Jurnal Multiparadigma Akuntansi, 3(4), 1595–1602.
Wiagustini, N. L. P., Ramantha, I. W., Sedana, I. B. P., & Rahyuda, H. (2017). Indonesia’s Capital Structure: Pecking Order Theory or Trade-Off Theory. International Journal of Applied Business and Economic Research, 15(16).
Zulkarnain, M. (2020). Pengaruh likuiditas dan profitabilitas terhadap struktur modal. FORUM EKONOMI, 22(1), 49–54.
Zulvia, Y., & Linda, M. R. (2019). The Determinants of Capital Structure in Manufacturing Companies Listed on the Indonesia Stock Exchange with the Firms’ Size As a Moderating Variable. KnE Social Sciences, 3(11), 715. https://doi.org/10.18502/kss.v3i11.4046