PENGARUH UKURAN PERUSAHAAN DAN RISIKO BISNIS TERHADAP STRUKTUR MODAL DENGAN PENGENDALIAN MANAJEMEN SEBAGAI VARIABEL MODERATING

Abstract

This research is aimed to examine the influence of firm size and business risks to the capital structure with management control as the moderating variable through financial statement which has been prepared by property and real estate companies which are listed in Indonesia Stock Exchange. Firm size and business risks is proxy by Ln Total Assets and Return on Equity, capital structure which is proxy by Debt to Asset Ratio, and management control which is proxy by Debt to Equity Ratio.The research samples have been obtained by using purposive sampling method i.e. the samples are selected based on the predetermined criteria and 42 property and real estate companies which are listed in Indonesia Stock Exchange in2013-2016 periods have been selected as samples. The analysis has been done by using Moderated Regression Analysis (MRA).The result of regression examination shows that management control give influence to the correlation of firm size and business risks with capital structure. The regression coefficient value shows positive result, it shows that management control strengthen the influence of firm size and business risks to the capital structure.
Keywords: firm size, business risks, management control, capital structure