FAKTOR-FAKTOR PENENTU STRUKTUR MODAL PERUSAHAAN NON KEUANGAN YANG TERDAFTAR DI BURSA EFEK INDONESIA

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Wulansari Dewi
Henny Setyo Lestari

Abstract

This research discusses whether there are effect of capital structure on leverage. Independent
variable consist of firm size, firm growth, tangibility of assets, profitability, and risk. Dependent
variable divided into 3 indicators such as total debt ratio, long term debt ratio, and short term
debt ratio. The study consisted of 164 nonfinancial industries, which was obtained from official
website of Indonesia Stock Exchange (http://www.idx.co.id). The sampling method used in this
study was purposive sampling and data analysis method used for hypothesis testing is linear
regression analysis. The results of hypothesis testing showed that there is influence between
capital structure on total debt ratio and short term debt ratio. But not too significantly to long
term debt ratio. The contribution of this study hopefully can help managers and investors alike
to make a right decision in nonfinancial industry in Indonesia.
Keywords: capital structure, growth, long term debt ratio, risk, ROA, short term debtratio, size,
tangibility of assets, total debt ratio.

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