PENGARUH PROFITABILITAS, LIKUIDITAS DAN PERTUMBUHAN PENJUALAN TERHADAP STRUKTUR MODAL

Abstract

This research aimed to find out the effect of profitability (ROA), liquidity (CR), and sales growth (SG) on the capital structure (DER), at minningcompany listed on The Indonesia Stock Exchange (BEI) in the 2017-2020 period. This research was quantitative. Meanwhile, the research population was 47 minning companies listed on The Indonesia Stock Exchange (BEI) during the 2017- 2020 period. Furthermore, the research sample collection technique used purposive sampling method, it obtained 44 company’s sample which fulfilled the criteria, while, the research sample observation period was 4 years, it obtained 179 observation data. Moreover, the outlier was 67 observation data, therefore the final sample were 109 observation data. On the other hand, the research analysis method used multiple linear regression analysis method. The research analysis concluded that profitability measured by Return On Asset (ROA) and sales growth meausred by Sales Growth (SG) did not affect the capital structure. Meanwhile, liquidity measured by Current Ratio (CR) had a negative effect on the capital structure.