PENGARUH LIKUIDITAS, UKURAN PERUSAHAAN DAN PROFITABILITAS TERHADAP STRUKTUR MODAL PERUSAHAAN PROPERTI DAN REAL ESTATE

Abstract

This research aimed to find out the effect among liquidity, firm size, and profitability on the capital structure of Property and Real Estate companies which were listed on Indonesia Stock Exchange. The population was some of Property and Real Estate companies which were listed on Indonesia Stock Exchange 2014-2017. While, the sampling collection technique used purposive sampling in which the sample was collected based on criteria given. Moreover, there were 39 Property and Real Estate companies as sample. In addition, the data analysis technique used multiple linear analysis with SPSS version 25. The research result concluded liquidity had negative effect on the capital structure. The higher liquidity the more chances of the company to pay the short term debts then company capital structure would like to decreased. The firm size had positive effect on the capital structure, since big company required more operational funds; and consequently more debts were gained and the company would be easier to have loans. Profitability had negative effect on the capital structure. The higher profit the company had, the more internal funds in order to fulfill the funds needs.
Keywords: Liquidity, Firm Size, Profitability, Capital Structure