PENGARUH STRUKTUR AKTIVA, TINGKAT PERTUMBUHAN PERUSAHAAN DAN RISIKO BISNIS TERHADAP STRUKTUR MODAL

Abstract

This research aimed to examine the effect of asset structure, company growth level, and business risks on the
capital structure. The population was manufacturing companies which were listed on Indonesia Stock Exchange
2013-2017. While, the data collection technique used purposive sampling with four determined criteria, In line
with, the sample was 87 companies per year or 435 firms years. Moreover, the data analysis technique used
multiple linear regression with SPSS (Statistical Product and Service Solutions) 22. The research result
concluded asset structure which was refferred to fixed assets ratio, had positive but insignificant effect capital
structure. On the other hand, company growth which was refferred to growth, had positive and significant effect
on capital structure. Likewise, business risks which was refferred to operational profit variation had positive and
significant effect on capital structure. Moreover, from the result of coefficient determination of R Square test, it
contributed 15% while the rest of 85% was explained by other variables which were not conducted on this
research.
Keywords: asset structure, company growth level, business risks, capital structure