PENGARUH GROWTH OPPORTUNITY, LIQUIDITY, DAN NON DEBT TAX SHIELD TERHADAP STRUKTUR MODAL

Abstract

Food and beverage manufacturing companies are one of the industries that are always experiencing growth. This is a strong boost for the Food and beverage sector is always growing and improving the quality of the company's performance in order to maximize the value of the company in order to gain profit. This research aimed to examine the effect of Growth Opportunity, Liquidity, and non-debt tax shield on capital structure of Food and beverage manufacturing companies which were listed on IDX. The research was quantitative. The data collection technique used purposive sampling. There were 13 Food and beverages manufacturing companies as the sample during 2015-2019. The data were in form of documentation of companies’ financial statements. The data analysis technique used multiple linear regression. The research result concluded Liquidity had a significant effect on capital structure of Food and beverage manufacturing companies which were listed on IDX during 2015-2019. On the other hand, Growth Opportunity had a insignificant effect on capital structure of Food and beverage manufacturing companies which were listed on IDX during 2015-2019. Non-debt tax shield had an insignificant effect on capital structure of Food and beverage manufacturing companies which were listed on IDX during 2015-2019.
Keywords: growth opportunity, liquidity, non-debt tax shield, capital structure