PENGARUH PROFITABILITAS, STRUKTUR ASET, GROWTH OPPORTUNITY, NDTS, DAN RISIKO BISNIS TERHADAP STRUKTUR MODAL

Abstract

This research aimed to examine the effect of profitability, asset structure, growth opportunity, non-debt tax shield and business risk on the capital structure through annual financial statement of Mining company on Indonesia Stock Exchange (IDX). The data collection technique used purposive sampling. While, the population was mining company which was listed on Indonesia Stock Exchange (IDX) 2013-2016. Moreover, there were 12 mining companies as sample. Furthermore, the data analysis technique used multiple linear regression. The research result in general, from significance test, concluded profitability, asset structure, growth opportunity, non-debt tax shield, and business risk simultaneously had significant effect on the capital structure. In addition, based on the hypothesis test, it concluded profitability, growth opportunity, non-debt tax shield, had negative and significant effect on the capital structure. On the other hand, the asset structure had positive but insignificant effect on the capital structure. Meanwhile, business risk had negative and insignificant effect on the capital structure.
Keywords: profitability, asset structure, growth opportunity, non-debt tax shield, business risk, capital structure