Pengaruh Struktur Aset dan Pertumbuhan Penjualan Terhadap Struktur Modal dengan Risiko Bisnis Sebagai Variabel Moderating
(Studi Pada Perusahaan Terindeks LQ45 di Bursa Efek Indonesia Tahun 2015-2018)
DOI:
https://doi.org/10.25181/esai.v17i2.2641Kata Kunci:
Asset Structure, Sales Growth, Capital Structure, Business RiskAbstrak
The purpose of this study was to examine the effect of asset structure and sales growth on capital structure with business risk as a moderating variable by focusing on LQ45 indexed companies on Indonesia Stock Exchange in the period of 2015-2018. Capital structure was a dependent variable, while asset structure and sales growth were independent variables and business risk was a moderating variable. The sampling method used was purposive sampling with a sampel of 26 companies during the observation period of 4 years in a row to produce a tatal of 104 samples and 81 for samples after data transformation. The analysis technique used in this research used SPSS 22 version with multiple linier regresision analysis. The results of this study indicate that asset structure does not effect on capital structure, sales growth has an effect on capital structure, business risk can not moderated effect between asset structure with capital structure and business risk can moderated effect between sales growth with capital structure.Unduhan
Referensi
Jurnal
Chakrabarti, A.,dan Chakrabarti, A. (2018).The capital structure puzzle – evidence from Indian energy sector. International Journal of Energy Sector Management, 13(1), 2–23. https://doi.org/10.1108/IJESM-03-2018-0001.
Natalia, P. (2015). Pengaruh Profitabilitas, Pertumbuhan Penjualan, Struktur Aset, Dan Risiko Bisnis Terhadap Struktur Modal Pada Emiten Kompas 100 (Non Perbankan). Jurnal Manajemen Maranatha, 14(2). https://doi.org/10.28932/jmm.v14i2.32.
Prasetya, B. T., dan Asandimitra, N. (2014). Pengaruh Profitabilitas, Ukuran Perusahaan, Growthopportunity, Likuiditas, Struktur Aset, Resiko Bisnis Dan Non Debt Tax Shield Terhadap Struktur Modal Pada Perusahaan Sub-Sektor Barang Konsumsi. Jurnal Ilmu Manajemen. Volume 2 Nomor 4 Oktober 2014
Ross, S. A. (1977). The Determination of Financial Structure: The Incentive-Signalling Approach. The Bell Journal of Economics, 23-40.
Saputri, I. P., Nurlaela, S., dan Titisari, K. H. (2020). Profitabilitas, Likuiditas, Struktur Aset, Ukuran Perusahan, Pertumbuhan Penjualan dan Struktur Modal Perusahaan Restoran, Hotel dan Pariwisata. 5(1), 91–107.
Seftianne, dan Handayani, R. (2011). Faktor-Faktor Yang Mempengaruhi Struktur Modal Pada Perusahaan Publik Sektor Manufaktur. Jurnal Bisnis Dan Akuntansi, Volume 13(No. 1), 39–56.
Sheikh, N. A., dan Qureshi, M. A. (2017). Determinants of capital structure of Islamic and conventional commercial banks: Evidence from Pakistan. International Journal of Islamic and Middle Eastern Finance and Management, 10(1), 24–41. https://doi.org/10.1108/IMEFM-10-2015-0119.
Sheikh, N.A., dan Wang, Z. 2011. Determinants of Capital Structure :An Empirical Study of Firm in Manufacturing Industry of Pakistan. Managerial Finance Journal 37, 2:117-133.
Buku
Brigham, E. F., dan Houston, J. F. (2014).Fundamentals of management. Salemba Empat.
Ghozali, I. (2016). Aplikasi Analisis Multivariate Dengan Progam IBM SPSS 23 (8th ed.). Badan Penerbit Universitas Diponegoro.
Kasmir. (2020). Analisis Laporan Keuangan. PT Raja Grafindo Persada.
Mardiyanto, H. (2009). Inti sari manajemen keuangan. Grasindo.
Publikasi Elektronik
Kayo,E.S.(2020).EmitenSahamDelisting.SahamOk.https://www.sahamok.com/emiten/saham-delisting/ diakses pada 8 Januari 2021.
