FAKTOR-FAKTOR YANG MEMPENGARUHI STRUKTUR MODAL (STUDI KASUS PERUSAHAAN SEKTOR PERTAMBANGAN YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE TAHUN 2009-2013)
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Date
2017-09-16Author
ARIFUDDIN, MUHAMMAD
NUGROHO, FEBBY ERIANTO
ABADI, MUCHACHA MUFTI
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The Objective of this research is to analyze factor influencing the capital structure of
minings firms which are listed on Indonesia Stock Exchange period of 2009 - 2013. The method
used in this research is purposive sampling and analyzing procedure is using panel data (fixed
effect model) with fifteen companies are used for sampling. There are six variables it influences
the capital structure i.e. firm size, asset structure, profitability, sales growth, asset growth, and
liquidity. The results of this research indicate that Profitability (0.0303), Sales Growth (0.0059),
Asset Growth (0.0001), and liquidity (0.0241) influence to capital structure. However, for
Company Size (0.2336) and Asset Structure (0.5729) there are no effect on their capital
structure. Then the results of the relationship are compared to Modigliani Miller’s theory,
Pecking order theory, The tradeoff theory, and Asymmetric Information Theory.