PENGARUH STRUKTUR AKTIVA, PROFITABILITAS, DAN LIKUIDITAS TERHADAP STRUKTUR MODAL PADA PERUSAHAAN FARMASI YANG TERDAFTAR DI BURSA EFEK INDONESIA

Abstract

This research aimed to examine and find out the effect of asset structure, profitability (ROA) and liquidity (CR) and capital structure (DER) of pharmaceutical companies which were listed on Indonesia Stock Exchange during 2013-2019. Morecover, the data collection technique used purposive sampling. In line with, there were 6 companies ad the sample. The data were secondary, which in the form of publication of financial statements. Furthermore, the data analysis technique used classical assumption test, multiple linear regression, Goodness of Fit test and Hypothesis test with SPSS (Statistical Product and Service Solution) 24. Based on the proper model test (F-test), it concluded that asset structure, profitability and liquidity simultaneously had a significant effect on capital structure. Meanwhile, from hypothesis test (t-test), it showed that asset structure hand a negative and significant effect on capital structure. Likewise, liquidity had a negative and significant effect on capital structure. On the other hand, profitability (ROA) had a negative and insignificant effect on capital structure of pharmaceutical companies which were listed on Indonesia Stock Exchange (IDX).
Keywords: assetstructure, profitability(ROA), liquidity (CR).