PENGARUH LIKUIDITAS, PROFITABILITAS, DAN STRUKTUR AKTIVA TERHADAP STRUKTUR MODAL PADA PERUSAHAAN RETAIL

Abstract

Retail companies are companies that use assets that are high enough in operational activities, is expected to contribute profitable for society and company. This research aims to determine the influence of liquidity (CR), profitability (ROA), and the structure of assets on the capital structure of retail companies which listed in the Indonesia Stock Exchange (BEI) in 2012-2016. This research used secondary data from Indonesia Stock Exchange during 2012-2016. The method used to determine the sample is the purposive sampling method. The sample used in this research are 7 retail companies which listed on Indonesia Stock Exchange in 2012-2016. Data analysis technique used in this research is multiple linear regression analysis. Partial test results show that liquidity (CR) has not significant influence on capital structure and asset structure also does not significantly influenced the capital structure while profitability (ROA) have a significant negative influence on the capital structure. The research implication can be concluded that the decrease or increase of capital structure of Retail Company can only be influenced by profitability (ROA). We recommend that company management consider liquidity (CR), profitability (ROA), and asset structure. This is because the company must determine the ratio of the amount of debt and capital itself so that the optimal capital structure can be achieved.