ANALISIS PENGARUH LIKUIDITAS, PROFITABILITAS, STRUKTUR AKTIVA DAN PERTUMBUHAN PENJUALAN TERHADAP STRUKTUR MODAL

(Studi Empiris Pada Perusahaan Publik yang Tergabung dalam Index LQ45 di Bursa Efek Indonesia Periode 2012 - 2017)

Abstract

This study aims to analyze the effect of liquidity, profitability, asset structure and sales growth on capital structure in public companies that are incorporated in the LQ45 index with the research period of 2012 until to 2017. The financial ratios used in this study include liquidity, profitability, asset structure and sales growth which are used as independent variables and capital structure as the dependent variable. This research uses purposive sampling sampling method. Based on the existing criteria, there were 18 samples of LQ45 issuers and within 6 years of existing issuers. This study uses the method of Multiple Linear Regression Analysis which aims to test the hypothesis. Hypothesis test results indicate that the Liquidity ratio and asset structure have a significant negative effect on capital structure, while Profitability and sales growth have no significant effect on capital structure. Investors should review financial statements issued by each company and use financial ratios, especially liquidity and asset structure before investing.