PENGARUH CURRENT RATIO, UKURAN PERUSAHAAN DAN PERTUMBUHAN PENJUALAN TERHADAP STRUKTUR MODAL PADA PERUSAHAAN PARIWISATA DAN PERHOTELAN DI BEI

Abstract

This research aimed to examine the effect of the Current Ratio, Firm Size and Sales Growth on the capital structure through an annual financial statement published by tourism and hotels in 2015-2019. This research was quantitative. Furthermore, the population of this research was tourism and hotels listed on Indonesia Stock Exchange (IDX) during 2015-2019. Moreover, the research sample used 13 tourism and hotels company. While the sample collection technique used purposes sampling, The research method used multiple linear regressions. The research result showed that the current ratio had negative and significant on the captital structure if the current ratio rises it had a significant effect on the decrease of the capital structure because the company focused on internal funding, firm size had a not have a significant effect on capital structure, namely the size of the company did companies require large enough funds from external and sales growth had a negative and insignificant effect on the capital structure, namely, an increase in sales growth did not have a significant effect on a decline in capital structure because companies prefer to minimize costs incurred. The company expected to be able to maintain and maximize funding sources from both internal and external.
Keywords: current ratio, firm size, sales growth,capital structure