FAKTOR-FAKTOR YANG MEMPENGARUHI STRUKTUR MODAL SEKTOR PERKEBUNANDI BURSA EFEK INDONESIA

Abstract

The purpose of this research is to test and to find out the influence of profitability, assets growth and
firm size to the capital structure of plantation companies which are listed in Indonesia Stock Exchange
in 2009-2013 periods. The samples are 5 plantation companies which are listed in Indonesia Stock
Exchange in 2009-2013 periods. The research data is processed by using SPSS 22 software, and classic
assumption test, multiple linear Regressions Analysis, Goodness of Fit Test, and Hypothesis test.The
result of the research describes that profitability variable has negative influence to the capital
structure, since the companies prefer to choose the internal funding than to use loans to fund their
new investment or even to use it as additional capital; companies which have high profitability level
tend to use their own capital which is retained earnings and stocks.The assets growth variable does not
have any significant influence to the capital structure which means the manager does not observe the
level of company’s growth in its business. The firm size does not have any significant influence to the
capital structure which means that the companies prefer to use internal funding than loans.
Keywords: Capital Structure, Profitability, Assets Growth, and Firm Size