PENGARUH PROFITABILITAS, LIKUIDITAS DAN STRUKTUR ASET TERHADAP STRUKTUR MODAL

Abstract

This research was conducted to analyze the effect of profitability, liquidity and asset structure on the capital structure of manufacturing companies in the various industrial sectors. The sample in this research is manufacturing companies in the various industrial sectors listed on the Indonesia Stock Exchange for the 2016-2020 period using the purposive sampling method. There are 11 companies that meet the research sample criteria, so a sample of 55 financial statement data. The research method uses multiple regression analysis, F test and t test. Based on the test results, it is known that profitability, liquidity and asset structure have a simultaneous impact on capital structure. Partial test results show that profitability has a negative impact on capital structure. Liquidity has a negative impact on capital structure, asset structure has a negative impact on capital structure. The coefficient of determination (R2) in this study was 57.7% while the remaining 42.3% was explained by other factors based on the descriptive analysis.