PENGARUH PROFITABILITY, TANGIBILITY, SIZE, GROWTH, DAN LIQUIDITY TERHADAP LEVERAGE BADAN USAHA YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2011-2015
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Keywords:
Capital Structure, Leverage, Profitability, Tangibility, Size
Abstract
Penelitian ini bertujuan untuk mengetahui pengaruh variabel profitability, tangibility, size, growth, dan liquidity sebagai variabel independen terhadap leverage badan usaha sebagai variabel dependen pada semua sektor yang terdaftar di Bursa Efek Indonesia (BEI) periode 2011-2015. Penelitian ini menggunakan pendekatan linier dengan model analisis regresi linear berganda dalam bentuk data panel untuk keseluruhan data observasi yang digunakan. Jumlah observasi pada penelitian ini sebanyak 1640 yang terdiri dari 328 perusahaan yang terdaftar di BEI periode 2011 – 2015. Hasil penelitian menunjukkan bahwa variabel tangibility dan size berpengaruh signifikan dengan arah hubungan positif terhadap leverage, sedangkan variabel profitability, growth, dan liquidity memiliki pengaruh tidak signifikan dengan arah hubungan negatif terhadap leverage badan usaha pada semua sektor yang terdaftar di BEI periode 2011 – 2015.
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References
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Rafiq, M., A. Iqbal., M. Atiq., 2008, The Determinants of Capital Structure of The Chemical Industry in Pakistan, The Lahore Journal of Economics, Vol. 13 No. 1: 139-158.
Atansil, L. 2011, Studi Eksistensi Dynamic Trade-off Capital Structure pada Badan Usaha Non-Finansial di BEI Periode 2002 – 2009, Skripsi, Universitas Surabaya.
Awan, T.N., Prof.M. Rashid., dan M.Z. Rehman., 2011, Analysis of The Determinants of Capital Structure in Sugar and Allied Industry, International Journal of Business and Social Science, Vol.2 No. 1.
Belkhir, M., A. Maghyereh., dan B. Awartani., 2016, Institutions and Corporate Capital Structure in The Mena Region, Emerging Markets Review, Vol. 26: 99-129.
Berenson, M., Levine, D., Szabat, K.A., Krehbiel, T.C., 2012, Basic Business Statistics : Concepts and Applications, 3rd Edition, Australia : Pearson Higher Education.
Chen, L.J., S.Y. Chen., 2010, How The Pecking Order Theory Explain Capital Structure, Chang Jung Christian University Taiwan.
Daskalakis, N., N. Eriotis., E. Thanou., dan D. Vasiliou., 2014, Capital Structure and Size: New Evidence Across The Broad Spectrum of SMEs, Managerial Finance, Vol. 40: 1207-1222.
Ernawati, E., W.R. Murhadi., 2013, The Study of Dynamic Trade-off Capital Structure Existence to The Non Financial Business Entities Listed on Indonesia Stock Exchange During Period 2007-2011, Disertasi, 10th Ubaya International Annual Symposium on Management.
Gitman, L.J., 2009, Principles of Managerial Finance, 12th Edition, Pearson Education, Inc.
Gujarati, D.N., 2004, Basic Econometrics, 4th Edition, Paperback.
Gujarati, D.N., D.C. Porter., 2010, Essentials of Econometrics, 4th Edition, Singapore : The Mc.Graw-Hill Companies, Inc.
Hartoyo, A.K.W., M. Khafid., dan L. Agustina., 2014, Faktor-Faktor yang Mempengaruhi Struktur Modal Perusahaan Tekstil dan Garmen di BEI, Accounting Analysis Journal, Vol.3 No.2: 247-254.
Husnan, S., dan E. Pudjiastuti., 2002, Dasar-dasar Manajemen Keuangan, Edisi Ketiga, Yogyakarta : Unit Penerbit dan Percetakan Akademi Manajemen Perusahaan YKPN.
Kasgari, A.A., S.H. Salehnezhad., dan F. Ebadi., 2013, A Review of Bankruptcy and its Prediction, International Journal of Academic Research in Accounting, Finance, and Management Sciences, Vol. 3 No. 4: 274-277.
Megginson, W. L., Smart, B. S., Graham, J., 2010, Financial Management, Cengage Learning.
Murhadi, W.R., 2011, Determinan Struktur Modal: Studi di Asia Tenggara, Disertasi, Universitas Surabaya.
Murhadi, W.R., 2013, Analisis Laporan Keuangan, Proyeksi dan Valuasi Saham, 1 Jil, Jakarta : Salemba Empat.
Nugrahani, S.M., dan R.D. Sampurno., 2012, Analisis Pengaruh Profitabilitas, Likuiditas, Pertumbuhan Penjualan, Ukuran Perusahaan, dan Kepemilikan Manajerial terhadap Struktur Modal, Diponegoro Business Review, Vol. 1 No.1: 1-9.
Oino, I., B. Ukaegbu, 2015, The Impact of Profitability on Capital Structure and Speed of Adjustment: An Empirical Examination of Selected Firms in Nigeria Stock Exchange, Research in International Business and Finance, Vol. 35: 111-121.
Rafiq, M., A. Iqbal., M. Atiq., 2008, The Determinants of Capital Structure of The Chemical Industry in Pakistan, The Lahore Journal of Economics, Vol. 13 No. 1: 139-158.
Published
2017-09-01
Section
Bidang Manajemen (M)
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