PENGARUH SALES GROWTH, STRUKTUR AKTIVA, ROE TERHADAP DER PADA PERUSAHAAN OTOMOTIF DI BEI

Abstract

This research is aimed to examine the influence of sales growth, asset structure and return on equity to the capital structure of six automotive companies which are listed in Indonesia Stock Exchange in 2011-2016 periods. The secondary data has been applied in this research in the form of financial statement data. The sample collection technique has been conducted by using purposive sampling. The measurement of capital structure has been performed by using debt to equity ratio (DER). The multiple linear analysis has been applied as the analysis. The result of the research shows that sales growth and asset structure does not give any significant influence to the debt to equity ratio because automotive companies prefer to usetheir fix asset and own capital than debt. Meanwhile, profitability which has been measured by using return on equity (ROE) gives significant and negative influence to the debt to equity ratio because companies with high profitability are tend to avoid debt.
Keywords: Sales growth, asset structure, return on equity, and debt to equity ratio