ANALISIS FAKTOR-FAKTOR YANG MEMPENGARUHI STRUKTUR MODAL PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE TAHUN 2006-2008 (STUDI KASUS PADA SEKTOR AUTOMOTIVE AND ALLIED PRODUCT)

Abstract

Capital structure is an equalization beetwen the use of own capital and the use of loan, it means how much the own capital and how much the loan that will be used can produce an optimal capital structure. Considering the amount of influencial factors to the firm size, bisiness risk, growth of assets and profitability to capital struture of manufacture company in automotive and allied product sector. The aim of this research is to know and to evaluate the influence between the firm size, business risk, growth of asset and profitability to manufacture company capital struture in automotive and allied product sector which listed in Indonesian Stock Exchange in 2006-2008 period. Sixteen manufacture company are used as the sample of this research in automotive and allied product sector. The method of the research is purposive sampling which devine as a sample of taking method which take an object by certain criteria. The amount of sample which require to the criteria are 16 manufacture company in Indonesian Stock Exchange by using pooled data method then resulting 48 observation data, but in normality test 4 data must be ommited, so only 44 data will be used as observation data. Data analysis use linier regression analysis method which initial by classic asumtion test, which is consist of normality test, multikoleniarity test, autocorelation test and heterokedastisitas test. The hypotesis evaluation done by use of F test anf t test. Result of data analysis or regression result showed that simultatily the firm size, business risk, growth of asset and profitability are influencial to capital structure. Parcially, the influencial variabel to capital structure are growth of asset and profitability where as the variable of firm size and business risk are not influential to capital structure. The amount of adjusted R square is 0,261 it means 26,1 percentage dependent variable is capital structure can be explained by four independent variable, they are firm size, business risk, growth of asset and profitability, but 73,9 percentage capital structure explained by other variable outside (node).