PENGARUH STRUKTUR MODAL TERHADAP PROFITABILITAS PADA PERUSAHAAN TELEKOMUNIKASI

Ahmad  Ali; Sasi  Agustin

Ahmad Ali
Sasi Agustin

Keywords: Debt Ratio (DR), Debt to Equity Ratio (DER), Longterm to Debt Assets Ratio (LDAR), Longterm Debt to Equity Ratio (LDER), Return on Equity (ROE)

Abstract

This research is conducted in order to examine the influence of the capital structure to the profitability on the telecommunication companies which are listed in Indonesia Stock Exchange (2010-2013). The sampling technique has been done by using purposive sampling with the criteria i.e.: (1) Telecommunication companies which are listed in Indonesia Stock Exchange in the years of 2010-2013; (2) these company have published their financial statement in the period which ends in December, 31st; (3) the stock trade of these telecommunication companies are active in IDX during the observation period; (4) the telecommunication companies have completely positive stock price during the 4 years of period. 3 (three) companies which meet with the sample criteria arePT. TELKOM Tbk, PT. INDOSAT, Tbk, and PT. XL AXIATA, Tbk.The steps which have been taken to analyze the data in this research are: 1) calculate the value of Debt Ratio (DR), Debt to Equity Ratio (DER), Longterm to Debt Assets Ratio (LDAR), Longterm Debt to Equity Ratio (LDER) and Return on Equity; 2) the financial statement data has been obtained from the Indonesia Stock Exchange at the end of the year. The data analysis techniques which are used in this research are classic assumption test, multiple linear regressions, model feasibility test (goodness of fit models), multiple determination coefficient analysis (r2 test), and hypothesis test (t-test). The result of determination coefficient analysis (R2) has its contribution 99.1% whereas the remaining 0.9% is influenced by other factors which are not included in the research model. The result of model feasibility test of capital structure variable consists of debt ratio (DAR), debt to equity ratio (DER), longterm to debt assets ratio (LDAR), and longterm debt to equity ratio (LDER) have significant influence to the profitability (ROE) so it is feasible to be used for the next research.

Keywords: Debt Ratio (DR), Debt to Equity Ratio (DER), Longterm to Debt Assets Ratio (LDAR), Longterm Debt to Equity Ratio (LDER) and Return on Equity (ROE)