Pengaruh Resiko Bisnis, Pertumbuhan Aset, Profitabilitas, Struktur Kepemilikan, dan Peluang Tumbuh terhadap Struktur Modal
I GUSTI BAGUS YUDISTIRA DEVANJAYA (Pembimbing: Sugiarto, Drs., M.Acc., M.B.A.), Sugiarto, Drs., M.Acc., M.B.A.
Penelitian ini bertujuan untuk mengidentifikasi pengaruh risiko bisnis, pertumbuhan aset, profitabilitas, struktur kepemilikan dan peluang tumbuh terhadap struktur modal perusahaan manufaktur yang ada di Indonesia. Populasi penelitian adalah seluruh perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia dan sampel penelitian adalah 47 perusahaan yang dianggap diperoleh melalui metode purposive sampling.
Secara teoritis, struktur modal didasarkan pada agency theory, trade off theory, asymetric information theory, dan pecking order theory. Hasil pengujian hipotesis dengan analisis regresi berganda membuktikan bahwa profitabilitas berpengaruh signifikan dan negatif terhadap struktur modal dan risiko bisnis, pertumbuhan aset, struktur kepemilikan dan peluang tumbuh tidak berpengaruh signifikan terhadap struktur modal.
This study aims to identify the effect of business risk, growth of assets, profitability, ownership structure, and growth opportunity on the capital structure of manufacturing companies in Indonesia. The population is all the manufacturing companies listed in Indonesia Stock Exchange and the study sample was 47 companies deemed obtained through purposive sampling method.
In theory, capital structure based on agency theory, trade off theory, asymmetric information theory, and pecking order theory. Results of hypothesis theory testing with multiple regression analysis proves that profitabily has a significant and a negative effect on capital structure and business risk, growth of assets, ownership structure and growth opportunities have no significant effect on capital structure.
Kata Kunci : capital structure, business risk, profitability, ownership structure, growth opportunities, manufacture companies
