PENGARUH UKURAN PERUSAHAAN DAN PERTUMBUHAN ASET TERHADAP STRUKTUR MODAL

Abstract

The research aimed to find out the effect of firm size and asset growth on the capital structure as its bases of taking fund decision for the ones who were within the company. The population was food and beverages manufacturing companies which were listed on Indonesia Stock Exchange 2013-2017. While the data were company financial statement which taken from Indonesia Stock Exchange Gallery of STIESIA. Moreover, the data collection technique used purposive sampling, in which the sample was based on criteria given. In line with, there were 79 samples. In addition, the data analysis technique used multiple linier regression. The research result concluded the firm size did not affect the capital structure. This happened as a bigger firm size was tend to have more assets. It meant, the company was preferred having its own capital to using debt for the operational costs. Furthermore, the asset growth had affected the capital structure. This happened since the company could use its asset properly. In brief, from the investors’ point of view, when the company’s growth was developed well, it determined the company to have some advantages element. In other words, the investors expected its higher return from their investments.
Keywords: firm size, asset growth, capital structure