PENGARUH KEBIJAKAN DIVIDEN, PROFITABILITAS, UKURAN PERUSAHAAN, DAN STRUKTUR ASET TERHADAP STRUKTUR MODAL

Abstract

This research is aimed to examine the influence of dividend policy, profitability, firm size and assets structure to
the capital structure on companies which are listed in Indonesia Stock Exchange (IDX). The population is all
manufacturing companies which are listed in Indonesia Stock Exchange (IDX) in 2012-2015 periods. The
sampling technique has been carried out by using purposive sampling method and 49 companies have been
selected as samples based on the predetermined criteria. The data has been obtained from the financial report of
the company and the official website of Indonesia Stock Exchange and Capital Market Directory (ICMD). This
research has been carried out by using classic assumption test and multiple linear regression analysis test and
the SPSS version 20.0 for statistical test. These results indicates that dividend policy and profitability give
negative influence to the capital structure. Meanwhile firm size and assets structure gives positive influence to
the capital structure. The determination coefficient of the regression model has generates result i.e. 0.332. It
shows that independent variables which give influence the dependent variable is 33.2% and the remaining
66.8% is influenced by other variables which are not studied.
Keywords: Dividend policy, profitability, firm size, assets structure, capital structure.