ANALISIS FAKTOR- FAKTOR YANG MEMPENGARUHI STRUKTUR MODAL (Studi Kasus Pada Perusahaan Pertanian yang Terdaftar di BEI Periode 2012-2014)

Abstract

This research is aims to analyze the influencing factors of the agricultural companies’ capital structure that listed on the Indonesia Stock Exchange. There are thirteen variables used in this research. These variables include the size of the company, sales, age of the company, return on assets, tangibility, tax expense, classification of the company, the company’s sales growth, profitability, volatility, bankruptcy, liquidity and operating leverage. The samples used in this research were agricultural companies listed on the Indonesia Stock Exchange in 2012-2014. The population in this research was 22 companies and the data sampling used purposive sampling method with the observation period of three years. The data were analyzed by using multiple regression analysis model initiated by the classical assumption test consisting of normality test, heteroscedasticity, multicollinearity and autocorrelation tests. The hypothetical analysis used the F-test and t-test. The results of this research indicate that the size of the company, sales, return on assets, tangibility, the tax expense, classification of the company, profitability, volatility and bankruptcies have influence on the capital structure while the age of the company, company’s sales growth, liquidity and operating leverage have no significant influence on the capital structure.