PENGARUH KARAKTERISTIK BADAN USAHA DAN STRUKTUR MODAL TERHADAP PERFORMA PERUSAHAAN DI SEKTOR AGRICULTURE YANG TERDAFTAR DI BURSA EFEK ASEAN PERIODE 2011-2015

  • Danny Adisurya Jurusan Manajemen Fakultas Bisnis dan Ekonomika Universitas Surabaya
  • Werner Ria Murhadi Jurusan Manajemen Fakultas Bisnis dan Ekonomika Universitas Surabaya
  • Arif Herlambang Jurusan Manajemen Fakultas Bisnis dan Ekonomika Universitas Surabaya
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Keywords: Capital Structure, Firm’s Performance, Long-term debt, ROA

Abstract

Penelitian ini bertujuan untuk mengetahui pengaruh variable size, growth, risk, dan tangibility sebagai variable independen terhadap struktur modal perusahaan sebagai variable dependen, dan juga pengaruh variable karakteristik perusahaan dan struktur modal (size, long-term debt, age, liquidity, advertising) terhadap performa perusahaan (ROA) pada sektor agriculture yang terdaftar di
Bursa Efek ASEAN periode 2011-2015. Penelitian ini menggunakan pendekatan linier dengan model analisis two-stage least square dalam bentuk data panel untuk keseluruhan data observasi yang
digunakan. Jumlah observasi pada penelitian ini sebanyak 275 yang terdiri dari 55 perusahaan (24 perusahaan negara Malaysia, 16 perusahaan negara Indonesia, 8 perusahaan negara Vietnam, 7 perusahaan negara Thailand) selama periode 2011- 2015. Hasil temuan penelitian ini menunjukkan bahwa pada model pertama, size berpengaruh tidak signifikan terhadap long-term debt. Growth, risk dan tangibility berpengaruh positif signifikan terhadap long-term-debt. Pada model kedua, variable long-term debt, size, dan liquidity berpengaruh tidak signifikan terhadap ROA. Sedangkan age dan advertising berpengaruh positif signifikan terhadap ROA.

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Published
2018-03-01
Issue
Vol. 7 No. 1 (2018): Calyptra : Jurnal Ilmiah Mahasiswa Universitas Surabaya (September)
Section
Bidang Manajemen (M)

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