PENGARUH GROWTH OPPORTUNITY, PROFITABILITAS DAN KEBIJAKAN DIVIDEN TERHADAP STRUKTUR MODAL

Abstract

This research is aimed to find out the influence of growth opportunity, profitability and dividend policy to the capital
structure of manufacturing companies which are listed in Indonesia Stock Exchange in 2012-2014 periods. The
population is all manufacturing companies which are listed in Indonesia Stock Exchange (IDX) in 2012-2014
periods and they have been selected by using purposive sampling, so 26 manufacturing companies which have met
the criteria have been selected as samples. The data analysis techniques has been done by using multiple regression
analysis and the dependent variable is capital structure and the independent variables are growth opportunity,
profitability and dividend policy by using SPSS. The result of goodness of fit test shows that growth opportunity,
profitability and dividend policy are the explanatory factors from the capital structure. The result of determination
coefficient test has proved that the independent variables give influence to the dependent variable. The result of
hypothesis test which has been done by using t test has proved that growth opportunity and profitability gives
influence to the capital structure. Meanwhile, the dividend policy does not give any influence to the capital
structure.
Keywords: growth opportunity, profitability, dividend policy, capital structure.