FAKTOR-FAKTOR YANG MEMPENGARUHI STRUKTUR MODAL PERUSAHAAN FOOD AND BEVERAGES

Abstract

Capital structure is the permanent financing of the company which reflects the comparison of long term debt with own capital. In the determination of the source of fund which will be used, and how large the proportion of each source fund, so the company will analyze some factors in order to get the optimal combination of capital structure. The samples are 6 foods and beverages companies which are listed in Indonesia Stock Exchange and these companies have been selected by using purposive sampling. This research is meant to find out the influence of asset growth, profitability, sales growth and firm size variables to the capital structure of foods and beverages companies which are listed in Indonesia Stock Exchange in 2010-2013 periods. The samples are 6 foods and beverages companies which are listed in Indonesia Stock Exchange and these companies have been selected by using purposive sampling. The result of the research shows that asset growth, profitability and firm size have significant and positive influence to the capital structure. It means that when the rates of asset growth, profitability and firm size is getting high, so the capital structure that is owned by the company is getting large; the sales growth has significant and negative influence to the capital structure. It means that the sales growth is getting high, so the capital structure that is owned by the company is getting smaller.
Keywords: Capital Structure, Asset Growth, Profitability, Sales Growth and Firm Size