Analysis of Factors Affecting Capital Structure on Listed Companies in Indonesia Stock Exchange 2017-2019 Period

Achieve the objectives of companies requires financial decisions that include capital structure. Capital structures in food and beverage companies are relatively low, so it doesn't necessarily make capital structures optimal. This research is conducted to examine factors that influence the cap...

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Main Authors: Della Ayu Sevira, Muhammad Azhari
Format: Article
Language:English
Published: Bandung: Prodi Manajemen FE Universitas Langlangbuana 2021-08-01
Series:Almana: Jurnal Manajemen dan Bisnis
Subjects:
Online Access:http://journalfeb.unla.ac.id/index.php/almana/article/view/1546
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author Della Ayu Sevira
Muhammad Azhari
author_facet Della Ayu Sevira
Muhammad Azhari
author_sort Della Ayu Sevira
collection DOAJ
description Achieve the objectives of companies requires financial decisions that include capital structure. Capital structures in food and beverage companies are relatively low, so it doesn't necessarily make capital structures optimal. This research is conducted to examine factors that influence the capital structure of food and beverage companies listed on the Indonesia Stock Exchange in the 2017-2019 periods. The purpose of this research is to test both simultaneously and partially the influence of profitability, tangibility, firm size, sales growth, asset growth, business risk, firm activity, and liquidity on the capital structure. 14 of 26 companies have been selected as research samples from food and beverage companies listed in Indonesia Stock Exchange in 2017-2019, so 42 observations have been obtained. The method of analysis that using in this research is the multiple regressions analysis technique. This research shows that simultaneously profitability, tangibility, firm size, sales growth, asset growth, business risk, firm activity, and liquidity have a significant influence on the capital structure. The result of partial research shows that firm size and liquidity significantly influence the capital structure. Meanwhile, profitability, tangibility, sales growth, asset growth, business risk, and firm activity have no significant influence on the capital structure.
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spelling doaj.art-49600a1e4e6842ed8d7934392408311c2023-12-03T02:39:20ZengBandung: Prodi Manajemen FE Universitas LanglangbuanaAlmana: Jurnal Manajemen dan Bisnis2579-48922655-83272021-08-015210.36555/almana.v5i2.1546Analysis of Factors Affecting Capital Structure on Listed Companies in Indonesia Stock Exchange 2017-2019 PeriodDella Ayu Sevira0Muhammad Azhari1Universitas Telkom, IndonesiaUniversitas Telkom, Indonesia Achieve the objectives of companies requires financial decisions that include capital structure. Capital structures in food and beverage companies are relatively low, so it doesn't necessarily make capital structures optimal. This research is conducted to examine factors that influence the capital structure of food and beverage companies listed on the Indonesia Stock Exchange in the 2017-2019 periods. The purpose of this research is to test both simultaneously and partially the influence of profitability, tangibility, firm size, sales growth, asset growth, business risk, firm activity, and liquidity on the capital structure. 14 of 26 companies have been selected as research samples from food and beverage companies listed in Indonesia Stock Exchange in 2017-2019, so 42 observations have been obtained. The method of analysis that using in this research is the multiple regressions analysis technique. This research shows that simultaneously profitability, tangibility, firm size, sales growth, asset growth, business risk, firm activity, and liquidity have a significant influence on the capital structure. The result of partial research shows that firm size and liquidity significantly influence the capital structure. Meanwhile, profitability, tangibility, sales growth, asset growth, business risk, and firm activity have no significant influence on the capital structure. http://journalfeb.unla.ac.id/index.php/almana/article/view/1546Asset GrowthBusiness RiskCapital StructureFirm ActivityFirm SizeLiquidity
spellingShingle Della Ayu Sevira
Muhammad Azhari
Analysis of Factors Affecting Capital Structure on Listed Companies in Indonesia Stock Exchange 2017-2019 Period
Almana: Jurnal Manajemen dan Bisnis
Asset Growth
Business Risk
Capital Structure
Firm Activity
Firm Size
Liquidity
title Analysis of Factors Affecting Capital Structure on Listed Companies in Indonesia Stock Exchange 2017-2019 Period
title_full Analysis of Factors Affecting Capital Structure on Listed Companies in Indonesia Stock Exchange 2017-2019 Period
title_fullStr Analysis of Factors Affecting Capital Structure on Listed Companies in Indonesia Stock Exchange 2017-2019 Period
title_full_unstemmed Analysis of Factors Affecting Capital Structure on Listed Companies in Indonesia Stock Exchange 2017-2019 Period
title_short Analysis of Factors Affecting Capital Structure on Listed Companies in Indonesia Stock Exchange 2017-2019 Period
title_sort analysis of factors affecting capital structure on listed companies in indonesia stock exchange 2017 2019 period
topic Asset Growth
Business Risk
Capital Structure
Firm Activity
Firm Size
Liquidity
url http://journalfeb.unla.ac.id/index.php/almana/article/view/1546
work_keys_str_mv AT dellaayusevira analysisoffactorsaffectingcapitalstructureonlistedcompaniesinindonesiastockexchange20172019period
AT muhammadazhari analysisoffactorsaffectingcapitalstructureonlistedcompaniesinindonesiastockexchange20172019period