PENGARUH STRUKTUR AKTIVA DAN PROFITABILITAS TERHADAP STRUKTUR MODAL: UKURAN PERUSAHAAN SEBAGAI PEMODERASI

Abstract

This research is meant to find out the assets structure, profitability with firm size as the moderating variable to
the capital structure on garment and textile companies which are listed in Indonesia Stock Exchange. The
sampling method has been carried out by using purposive sampling method in which the sample collection
method is based on certain criteria and the numbers of samples are 14 companies. The research has been
conducted in 2012-2015 periods. Therefore, 56 objects have been obtained as research data. The analysis has
been carried out by using Moderated Regression Analysis (MRA).The result of this research shows that
partially assets structure has positive influence to the capital structure, meanwhile profitability does not have
any influence to the capital structure. Then, firm size becomesthe moderating variable which strengthens the
correlation between assets structures, profitability to the capital structure. It can be seen from the enhancement
of the magnitude of Adjusted R Square is 0.174. It means that the dependent variable which is capital structure
can be explained by two independent variables which are assets structure and profitability is 17,4%, after it is
moderated by firm size, the magnitude of Adjusted R Square become 0.382. There is an enhancementof 38.2%
after the assets structure and profitability has been moderated by firm size whereas the remaining is 61.8% can
be explained by other variables.
Keywords: Assets structure, profitability, firm size, capital structure.