DAMPAK PROFITABILITAS, RISIKO BISNIS, UKURAN PERUSAHAAN, LIKUIDITAS, DAN PERTUMBUHAN PENJUALAN PADA STRUKTUR MODAL PERBANKAN DI INDONESIA
RUSGO, LENDI SHEUM (Adv.: Supriyadi, Dr., M.Sc., CMA.), Supriyadi, Dr., M.Sc., CMA.
Sebuah struktur modal dianggap sebagai hal yang penting bagi perusahaan
untuk menjalankan bisnis, apalagi, keputusan struktur modal juga cenderung
mempengaruhi posisi kompetitif perusahaan. Banyak peneliti berdebat tentang apa isi dari struktur modal yang dapat menyebabkan struktur modal menjadi yang terbaik bagi sebuah perusahaan? Struktur modal perusahaan merupakan hasil dari transaksi dengan berbagai pemasok keuangan.
Penelitian ini menggunakan model persamaan struktural untuk menyelidiki hubungan kausal antara dimensi profitabilitas perusahaan, risiko bisnis yang dihadapi perusahaan, ukuran perusahaan itu sendiri, likuiditas, dan pertumbuhan penjualan perusahaan terhadap struktur modal. Data dikumpulkan dari sampel laporan keuangan beberapa bank di Indonesia. Hasil penelitian menyimpulkan bahwa profitabilitas, ukuran perusahaan, dan likuiditas yang berpengaruh terhadap struktur modal dalam Industri Perbankan di Indonesia. Hasil penelitian menunjukkan bahwa investor dan manajer harus meninja pentingnya factor dari profitabilitas, ukuran perusahaan, dan likuiditas dalam mengelola struktur modal mereka.
A capital structure considered as important matter for a firm for running the business, moreover, capital structure decisions are also likely to affect a firm's competitive position. Many researcher debating about what are the contents of capital structure that can lead to a good capital structure of a company. The capital structure of a firm is the result of the transactions with various suppliers of finance. These are complex exchanges associated with the same difficulties that may lead to market imperfections
The study employed structural equation modeling to investigate the causal relationship between the dimensions of profitability of the company, business risk that a company faced, the size of the company itself, liquidity, and sales growth of the company toward capital structure. Data were collected from a sample of financial statements of several Banks in Indonesia. The findings conclude that perceived profitability, firm size, and liquidity are influential to capital structure in Banking Industry in Indonesia. Weak supports are also found for business risk and sales growth. The results of the study show that investors and managers should the relative importance of profitability, firm size, and liquidity in managing their capital structure.
Kata Kunci : Capital Structure, Profitability, Business Risk, Firm Size, Liquidity, Growth Opportunity, and Banking Industry, Indonesia, Struktur Modal, Profitabilitas, Risiko Bisnis, Ukuran Perusahaan, Likuiditas, Peluang Pertumbuhan, dan Perbankan.
