PENGARUH LIKUIDITAS, PROFITABILITAS DAN PERTUMBUHAN PENJUALAN TERHADAP STRUKTUR MODAL PERUSAHAAN FOOD AND BEVERAGE

Abstract

Since company has large operational activity, large funds are really required. While, the company needs to manage its capital structure optimally in order to achieve some profits. Therefore, this research aimed to determine the effect of liquidity, profitability and sales growth on capital structure of food and beverage companies which were listed on Indonesia Stock Exchange during 2014-2018. The population was 14 food and beverage companies which were listed on Indonesia Stock Exchange during 2014-2018. Moreover, the data collection technique used purposive sampling, in which the sample was based on criteria given. In line with, there were 8 food and beverage companies as sample. Additionally, the data were secondary which in form of financial statement of food and beverage companies which were listed on Indonesia Stock Exchange during 2014-2018. In addition, the data analysis technique used multiple regression linear with SPSS 23. The research result concluded liquidity had significant and negative effect on capital structure. On the other hand, profitability had significant and positive effect on capital structure. In contrast, sales growth had positive but insignificant effect on capital structure of food and beverage companies which were listed on Indonesia Stock Exchange during 2014-2018.
Keywords: liquidity, profitability, sales growth, capital structure