PENGARUH STRUKTUR AKTIVA, PROFITABILITAS, DAN LIKUIDITAS TERHADAP STRUKTUR MODAL PADA PERUSAHAAN PERTAMBANGAN BATUBARA

Abstract

The existence of coal mining company becomes benchmark of indonesia’s economy development. Besides, it gives the biggest export contribution. This makes some investors are interested to invest their money on coal mining company. Therefore, this research aimed to find out the effect of asset structure, profitability, and liquidity on the capital structure of some coal mining companies which were listed on Indonesia Stock Exchange 2013-2017. The research was quantitative. While, the population was 22 coal mining companies. Moreover, the data collection technique used purposive sampling. In line with, there were 7 coal mining companies as sample. Furthermore,n the data analysis technique used multiple linier regression with SPSS 25. The research result, from proper model test, concluded asset structure, profitability, and liquidity simultaneously had significant effect on the capital structure. Meanwhile, based on hypothesis test, it concluded asset structure had positive but insignificant effect on the capital structure with significance of 0.807. Likewise, profitability had positive but insignificant effect on the capital structure with significance of 0.266. On the other hand, liquidity had negative and significant effect on the capital structure with significance of 0.032.
Keywords: asset structure, profitability, liquidity, capital structure