PENGARUH SALES GROWTH, SIZE, STRUKTUR ASET, LIKUIDITAS DAN PROFITABILITAS TERHADAP STRUKTUR MODAL

Abstract

The purpose of this research is to examine the effect of sales growth, size, asset structure, liquidiy and probabilitiy to the capital structure of Real Estate and Property companies which were listed on Idonesia Stock Exchange. The research was quantitative. Moreover, the data collection technique used purposie sampling. In line with, there were 30 companies from 63 Real Estate and Property companies which were listed on Idonesia Stock Exchange during 2016-2019, as the sample. Therefore, totally, there were 120 data observations. Additionally, the data analysis technique used multiple linear regression. The research result concluded that sales growth as well as liquidity did not affect capital structure. On the other hand, Size had a positive effect on capital structure. It meant, the bigger the firm size was, and the bgger fund proportion to operate company’s activities would be. In contrast, asset structure was, the more companies tend tto minimize its debt usage. Likewise, profitability had a negative effect on capital structure. This meant, the higher the companies return was, the less debt usage by the companies would be.
Keywords: sales growth, size, asset structure, liquidity, capital structure