PENGARUH RISIKO BISNIS, LIKUIDITAS, DAN PROFITABILITAS PADA STRUKTUR MODAL PERUSAHAAN NON KEUANGAN DI INDONESIA

  • I Gusti Ayu Agung Istri Sari Dewi STMIK Primakara Bali
  • Ni Made Estiyanti STMIK Primakara

Abstract

>Many studies on capital structure has been carried out in several countries, especially in developed countries. Similar research has now also been carried out in various developing countries. Socio-political and macroeconomic conditions between the developed countries and the developing are different.Results of many studies on capital structure in developed countries can not simply be used as reference for the capital structure in the developing countries, one example is in Indonesia. There are several factors that can affect the determination of the company's capital structure. However, there are still some differences in the study’s results on the effects of these factors on capital structure.These factors are business risk, liquidity, and profitability.This study was conducted over a period of four years, ie 2010 to 2013. The period is selected as the study period because this study focuses on the analysis of the company's capital structure after the global crisis that occurred in 2008 to 2009. The sampling method used in this research is purposive sampling method. The number of companies that meet the criteria of the sample in this study is as much as 303 companies. This study’s results indicate that the business riskpositively significant affect the capital structure of non-financial companies in Indonesia, liquidity negatively significant affect the capital structure of non-financial companies in Indonesia, while the capital structure of non-financial companies in Indonesia is not affected by the profitability significantly.


Keywords: Capital structure, non-financial company, business risk, liquidity, profitability.

Published
Jan 18, 2019
How to Cite
DEWI, I Gusti Ayu Agung Istri Sari; ESTIYANTI, Ni Made. PENGARUH RISIKO BISNIS, LIKUIDITAS, DAN PROFITABILITAS PADA STRUKTUR MODAL PERUSAHAAN NON KEUANGAN DI INDONESIA. Sekolah Tinggi Ilmu (STIE) Ekonomi Triatma Mulya, [S.l.], v. 24, n. 2, p. 136 - 158, jan. 2019. ISSN 2622-1489. Available at: <http://triatmamulya.ejurnal.info/index.php/triatmamulya/article/view/111>. Date accessed: 16 dec. 2019.