Faktor-faktor yang mempengaruhi capital structure pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia
P enelitian ini bertujuan untuk mengetahui faktor-faktor yang dapat mempengaruhi Capital structure. Sampel yang digunakan dalam penelitian ini adalah perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia (BEI) selama periode 2013-2017. Variabel independen dalam penelitian ini adalah Profitability, Sales growth, Firm size, Tangibility ratio, Asset turnover ratio, Debt service capacity, Liquidity, Non-debt tax shield dan Agesebagai variabel controldan variabel dependennya adalah Capital structure. Sampel yang digunakan sebanyak 66 perusahaan yang bergerak dalam industri manufaktur dengan menggunakan Purposive Sampling. Metode penelitian yang digunakan adalah Panel Data Regressionmenggunakan Fixed Effect Model. Hasil penelitian menunjukkan bahwa terdapat pengaruh antara Profitability, Tangibility, dan Non-debt Tax Shield terhadap Capital Structure serta tidak terdapat pengaruh antara Sales growth, Firm size, Asset turnover ratio, Debt service capacity, Liquidity,dan Age terhadap Capital Structure. Hasil penelitian ini diharapkan dapat dijadikan acuan bagi perusahaan dalam melihat faktor-faktor yang mempengaruhi Capital Structure.
T his study aims to determine the factors that can affect capital structure. The sample used in this study was manufacturing companies listed on the Indonesia Stock Exchange (IDX) during the 2013-2017 period. The independent variables in this study are profitability, sales growth, firm size, tangibility ratio, asset turnover ratio, debt service capacity, liquidity, non-debt tax shield and age as control variables and the dependent variable is capital structure. The sample used was 66 companies engaged in the manufacturing industry by using purposive sampling. The research method used is the Data Regression Panel using the Fixed Effect Model. The results showed that there was an influence between Profitability, Tangibility, and Non-debt Tax Shield on Capital Structure and there was no influence between Sales growth, Firm size, Asset turnover ratio, Debt service capacity, Liquidity, and Age on Capital Structure. The results of this study are expected to be used as a reference for companies to see the factors that influence Capital Structure.