The Determinants of Capital Structure in Manufacturing Companies Listed on the Indonesia Stock Exchange with the Firms’ Size As a Moderating Variable

Zulvia, Yolandafitri; Linda, Muthia Roza

doi:10.18502/kss.v3i11.4046

Cited by 9 publications

(15 citation statements)

References 3 publications

(3 reference statements)

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“…Struktur Modal yang diukur dengan rumus DER yaitu dengan membandingkan total kewajiban dengan total modal (Zulvia & Linda, 2019). Dalam penelitian ini menunjukan nilai minimum sebesar 0,000000 dimiliki oleh PT Emdeki Utama Tbk pada tahun 2017.…”

Section: Pendahuluanunclassified

Analisis Struktur Aktiva, Kepemilikan Manajerial, dan Variabilitas Pendapatan Pada Struktur Modal Perusahaan Manufaktur

Lestari¹,

Wirawati²

2021

E-Jurnal Akuntansi

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The purpose of this study was to determine the effect of asset structure, managerial ownership, and income variability on the company's capital structure (DER). This research was conducted at manufacturing companies listed on the Indonesia Stock Exchange (BEI) for the 2017- 2019 period. The population in this study were 181 companies, using the purposive sampling method the research sample was obtained as many as 46 manufacturing companies. The data analysis technique used in this research is panel data regression analysis technique with Eviews version 11 as a tool. Based on the research results, it is found that the asset structure has no effect on the capital structure. Managerial ownership has a positive and significant effect on capital structure. Income variability has a negative and significant effect on capital structure. Keywords: Asset Structure; Managerial Ownership; Income Variability; Capital Structure.

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Section: Pendahuluanunclassified

Analisis Struktur Aktiva, Kepemilikan Manajerial, dan Variabilitas Pendapatan Pada Struktur Modal Perusahaan Manufaktur

Lestari¹,

Wirawati²

2021

E-Jurnal Akuntansi

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“…Capital structure is measured using the proxy Debt to Equity Ratio (DER). The use of the DER proxy refers to previous research conducted by Guna and Sampurno (2018), Kurniawan and Yuyetta (2015), Zulvia and Linda (2019), Sakinah and Anggono (2014).…”

Section: Definition and Operations Of Variablesmentioning

confidence: 99%

“…There are several studies conducted using moderating variable firm size, where the results obtained are still mixed. Research conducted by Mirza (2015), Wahyudin and Salsabila (2019) shows that firm size can be a moderating variable, but other studies show the opposite results, namely firm size cannot be a moderating variable, including research conducted by Zulvia andLinda (2019), Suherman. et al (2019).…”

Section: Introductionmentioning

confidence: 99%

Untitled

2021

SJBMM

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This study aims to analyze the effect of profitability and free cash flow on capital structure with firm size as a moderating variable. The population in this study is the food and beverage sub-sector company on the IDX in 2011-2018. The sample used was 9 companies, which were selected based on the purposive sampling method. The data analysis technique used is multiple linear regression analysis and residual test.The results showed that the profitability variable had no effect on capital structure. While the free cash flow variable has a positive and significant effect on capital structure. In the moderation test with the residual test approach, firm size does not moderate the relationship between profitability and free cash flow on the capital structure.

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“…Rasio ini berguna untuk mengetahui jumlah dana yang disediakan peminjam (kreditor) dengan pemilik perusahaan (Kasmir, 2013). Banyak alasan perusahaan menggunakan ekternal pembiayaan (utang), DER menunjukan tingkat risiko perusahaan, di mana tinggi DER, semakin tinggi risiko perusahaan disebabkan oleh pendanaan dari eksternal dari utang lebih besar dari ekuitas (Zulvia & Linda, 2019).…”

Section: Pendahuluanunclassified

Pengaruh Corporate Governance Terhadap Struktur Modal Pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Tahun 2014-2017

Putri

Zulvia

2019

JMPE

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This study aims to examine the effect of corporate governance on the capital structure of manufacturing companies listed on the Indonesia Stock Exchange. Companies need an optimal capital structure so that there are no problems that will later impact the risk of high corporate bankruptcy. Capital structure will be optimal if there is no agency problem. Agency problems occur because of differences in interests between managers, investors, and creditors. To reduce agency conflict, corporate governance is needed. Institutional ownership and the size of the audit committee are used in this study as part of corporate governance. Debt to equity ratio was used to measure capital structure in this study. The sample used in this study amounted to 76 manufacturing companies listed on the Indonesia Stock Exchange. The sample selection in this study used a purposive sampling method. The type of data used is secondary data obtained from www.idx.co.id. The analytical method used is multiple regression analysis. The results of the study show that institutional ownership has a significant effect on capital structure, while the audit committee has no significant effect on capital structure. Keywords: capital structure, corporate governance, institusional ownership, audit committee

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The Determinants of Capital Structure in Manufacturing Companies Listed on the Indonesia Stock Exchange with the Firms’ Size As a Moderating Variable

Abstract: .

Cited by 9 publications

References 3 publications

Analisis Struktur Aktiva, Kepemilikan Manajerial, dan Variabilitas Pendapatan Pada Struktur Modal Perusahaan Manufaktur

Analisis Struktur Aktiva, Kepemilikan Manajerial, dan Variabilitas Pendapatan Pada Struktur Modal Perusahaan Manufaktur

Untitled

Pengaruh Corporate Governance Terhadap Struktur Modal Pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Tahun 2014-2017

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