PENGARUH LIKUIDITAS, GROWTH OPPORTUNITY, DAN KEPEMILIKAN MANAJERIAL TERHADAP STRUKTUR MODAL

Abstract

This research aimed and analyze the effect of liquidity, growth opportunity, and managerial ownership on the capital structure of automotive companies which were listed on The Indonesia Stock Exchange in the 2016-2020 period. The researchers used a correlation national quantitative approach. Meanwhile, the research population criteria obtained five automotive companies. Moreover, the sample collection technique used a saturated sample. The research data analysis technique used multiple linear regression with SPSS (Statistical Product and Service Solution) 25version. In addition, the research hypothesis test concluded that both the liquidity (CR) variable and managerial ownership had a negative and significant effect on the capital structure (DER); meanwhile, the growth opportunity variable had a positive and insignificant effect on the capital structure (DER). Additionally, the determination coefficient test result (DER) was explained by the liquidity variable (CR), growth opportunity, and managerial ownership, and the rest were 30.8% explained by other variables outside of the research.