PENGARUH PROFITABILITAS, LIKUIDITAS DAN UKURAN PERUSAHAAN TERHADAP STRUKTUR MODAL (Studi Pada Perusahaan Manufaktur yang Terdaftar di BEI Periode 2015-2017)

Abstract

This study aimed to determine the effect of profitability, liquidity, and firm size to capital structure in manufacturing companies on the Indonesia Stock Exchange.Independent variables used are profitability, liquidity, and size company. The dependent variable used is capital structure. The population in this study is manufacturing companies listed on Indonesia Stock Exchange (IDX) 2015-2017. Samples in this study are determined by using purposive sampling method with total 29 companies. Data analysis with multiple liniear regression and hypotheses test used t-statistic and F-statistic at level of significance 5%, a classic assumption examination which consist of data normality test, heteroskedasticity test, multikolinearity test, and coeficient of determination  is also being done to test the hypotheses. The result of this study show that profitabilityhad negative significantinfluence to capital structure with coefficient regression -1,322 and significance 0,007,liquidityhad negative significant influence of capital structure with coefficient regression -0,114 and significance 0,000, and firm size had negative not significant influence to capital structure with coefficient regression -2,044 and significance 0,297. All of independent variable has a significant effect simultaneously. In the other hand, the result of regression estimation of 3 independent variable on firm value shows the prediction ability 45,2% and 54,8% remains are affected from other factors outside of this model.