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"Penelitian ini secara empiris untuk menganalisis struktur modal suatu perusahaan dengan memperhatikan faktor - faktor berupa firm age, firm size, tangibility, turnover, current ratio, retained earning, price to book ratio, business cycle effect dalam 186 perusahaan non finansial yang terdaftar di BEI selama lima tahun dari tahun 2010 ndash; 2014. Pengujian ini dilakukan dengan model regresi Generalized Least Square GLS.Penelitian ini menunjukkan bahwa ukuran perusahaan, perputaran total aset, rasio lancar, rasio nilai buku, laba ditahan, dan business cycle effect berpengaruh signifikan terhadap struktur modal perusahaan non finansial, disisi lain umur perusahaan, aset berwujud tidak berpengaruh signifikan terhadap struktur modal suatu perusahaan non finansial di era tahun 2010 hingga 2014.

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This research is aimed to analyze the effect of company rsquo s capital structure towards to many factors such as firm age, firm size, tangibility, turnover, current ratio, retained earning, price to book ratio, business cycle effect by taking sample 186 non financial companies that listed in Indonesia Stock Exchange within 2010 ndash 2014. The test were conducted with Generelized Least Square GLS.The result of this research found that firm size, turnover, current ratio, price to book ratio, retained earning,and business cycle effect have significantly influence to non financial company rsquo s capital structure, but the other side firm age, tangibility, and have not significantly influence to non financial company rsquo s capital structure in the era within 2010 ndash 2014."

"Penelitian ini bertujuan untuk mengetahui pengaruh faktor-faktor industri terhadap struktur modal pada perusahaan non-keuangan yang terdaftar di Bursa Efek Indonesia selama periode tahun 2017-2021. Sampel penelitian yang digunakan dalam penelitian ini adalah 273 perusahaan dengan total observasi sebesar 1615 firm-year. Penelitian ini terdiri dari struktur modal sebagai variabel dependennya, dan industry competitiveness, industry munificence, serta industry dynamism sebagai variabel independen. Hasil penelitian menemukan adanya pengaruh signifikan negatif dari industry competitiveness dan industry dynamism terhadap struktur modal. Sedangkan, untuk industry munificence ditemukan adanya pengaruh negatif namun tidak signifikan terhadap struktur modal.

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This study aims to determine the effect of industry-specific factors on capital structure in non-financial companies listed on the Indonesia Stock Exchange during the 2017-2021 period. The research sample used in this study was 273 companies with a total observation of 1615 firm-year. This study consists of capital structure as the dependent variable, and industry competitiveness, industry munificence, and industry dynamism as independent variables. The result found that there is a negative significant effect of industry competitiveness and industry dynamism on capital structure. Meanwhile, for industry munificence, there is a negative but insignificant influence on capital structure."

"Penelitian ini bertujuan untuk menganalisis determinan struktur modal pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia periode 2006-2015. Struktur modal dalam penelitian ini diproksikan dengan leverage sebagai variabel dependen, sedangkan determinannya sebagai variabel independen adalah tangibilitas aset, ukuran perusahaan, pertumbuhan, dan profitabilitas. Sampel dalam penelitian ini sebanyak 66 perusahaan. Penelitian ini menggunakan data panel, yaitu gabungan dari time series dan cross section, sehingga menghasilkan 660 data pengamatan. Regresi yang digunakan Fixed Effect Model dengan metode Generalized Least Square. Hasil dari penelitian ini adalah tangibilitas aset, ukuran perusahaan, dan pertumbuhan berpengaruh positif signifikan, sedangkan profitabilitas berpengaruh negatif signifikan terhadap leverage.

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This research aims to analyze the determinants of capital structure of manufacturing firms listed in Indonesia Stock Exchange from 2006 to 2015. Capital structure proxied by leverage as dependent variable, and the determinants as independent variables are tangilibility, size, growth, and profitability. 66 firms used as sample for this research. This research used pooled data method, which is a combination of time series and cross section, that resulting 660 observations. Fixed Effect Model with Generalized Least Square used as regression method. This research found that tangibility, size, and growth have positive significant effect to leverage, while profitability has negative significant effect toward leverage."

"Tujuan dari penelitian ini adalah untuk menganalisis faktor-faktor apa saja yang mempengaruhi struktur modal perusahaan yang tercatat pada Bursa Efek Indonesia. Variabel independen yang digunakan untuk menjelaskan variabel dependen adalah ukuran perusahaan, risiko bisnis, pertumbuhan perusahaan, profitabilitas, dividend payout ratio, debt service capacity, degree of operating leverage. Penelitian ini adalah penelitian kuantitatif dengan desain eksplanatif. Hasil penelitian menunjukkan bahwa ukuran perusahaan, risiko bisnis, pertumbuhan perusahaan, profitabilitas, dividend payout ratio, debt service capacity, degree of operating leverage merupakan determinan yang signifikan secara statistik dari struktur modal.

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The purpose of this study was to analyze the factors that influence the capital structure of companies listed on the Indonesian Stock Exchange. Independent variables that were used to explain dependent variable are size of the firm, business risk, growth of the firm, profitability, dividend payout ratio, debt service capacity, dan degree of operating leverage. This research is quantitative explanatve interpretive. The research shows that size of the firm, business risk, growth of the firm, profitability, dividend payout ratio, debt service capacity, dan degree of operating leverage are statistically significant determinants of capital structure."

"Penelitian ini bertujuan untuk menganalisis determinan struktur modal pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia pada periode 2007-2014. Variabel-variabel yang diteliti antara lain managerial ownership, growth ratio, profitability, tangibility, liquidity ratio, non-debt tax shield, free cash flow to firm, agency cost, dan dividen payment. Sampel penelitian terdiri dari 109 perusahaan dengan jumlah observasi sebanyak 872 data observasi. Hasil analisis data menunjukkan bahwa secara simultan, managerial ownership, growth ratio, profitability, tangibility, liquidity ratio, non-debt tax shield, free cash flow to firm, agency cost, dan dividen payment berpengaruh signifikan terhadap struktur modal. Sedangkan secara parsial, pada model 1 (STDR) menunjukkan bahwa hanya managerial ownership, tangibility, liquidity, dan agency cost yang memiliki pengaruh signifikan. Pada model 2 (LTDR) menunjukkan bahwa hanya profitability ratio, liquidity ratio, dan dividen payment yang memiliki pengaruh signifikan. Dan pada model 3 (TDR) menunjukkan hanya variabel managerial ownership, profitability ratio, tangibility, liquidity ratio, agency cost, dan dividen payment yang memiliki pengaruh signifikan terhadap struktur modal.

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This study aimed to examine the factors that determined capital structure of manufacturing companies listed on Indonesia Stock Exchange in the period of 2007-2014. The variables studied include managerial ownership, growth ratio, profitability, tangibility, liquidity ratio, non-debt tax shield, free cash flow to firm, agency cost, and dividen payment. The number of samples used in this study based on the criteria is 109 companies with 872 observation data. The results of regression or data analysis indicate that managerial ownership, growth ratio, profitability, tangibility, liquidity ratio, non-debt tax shield, free cash flow to firm, agency cost, and dividen payment simultaneously affects the company?s capital structure. While partially, in the model used short term debt ratio as dependent variable (model 1) showed only managerial ownership, tangibility, liquidity, and agency cost that has a significant effect on capital structure. In the model used long term debt ratio as dependent variable (model 2) showed only profitability ratio, liquidity ratio, and dividen payment that has a significant effect on capital structure. And in the model used total debt ratio as dependent variable (model 3) showed only variable managerial ownership, profitability ratio, tangibility, liquidity ratio, agency cost, and dividen payment that has a significant effect on capital structure."

"[ABSTRAKPenelitian ini bertujuan untuk mempelajari faktor-faktor yang mempengaruhi struktur modal perusahaan. Objek penelitian ini adalah perusahaan manufaktur yang beroperasi di Indonesia dan terdaftar di Bursa Efek Indonesia selama periode penelitian yaitu tahun 2009 hingga 2013. Faktor-faktor yang diuji pengaruhnya terhadap struktur modal perusahaan adalah profitabilitas, tingkat pertumbuhan, tingkat pajak, struktur aset, tingkat risiko dan ukuran perusahaan. Estimasi model yang dilakukan dengan menggunakan regresi panel Fixed Effect Model. Dari hasil regresi yang dilakukan, semua faktor menunjukkan pengaruh signifikan terhadap struktur modal perusahaan kecuali tingkat risiko.

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ABSTRACTThe aim of this study is to explore the impact of firm’s factors toward structure capital. Using panel regression, this study seeks to examine the effect of several factors on capital structure for the period of 2009 to 2013. The variables of firm’s factors that are being explored are profitability, growth, tax, asset structure, risk and size. The Fixed Effect Model of panel regression is being employed in the model estimation. The findings reveal that all of factor’s play an important role in influencing capital structure except risk., The aim of this study is to explore the impact of firm’s factors toward structure capital. Using panel regression, this study seeks to examine the effect of several factors on capital structure for the period of 2009 to 2013. The variables of firm’s factors that are being explored are profitability, growth, tax, asset structure, risk and size. The Fixed Effect Model of panel regression is being employed in the model estimation. The findings reveal that all of factor’s play an important role ininfluencing capital structure except risk.]"

"Penelitian ini bertujuan untuk menganalisis pengaruh struktur modal sebagai keputusan pendanaan terhadap profitabilitas perusahaan-perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia pada periode 2009-2013. Adapun variabelvariabel yang digunakan adalah LDA (Long-term debt to total assets) , DA (Total debt to total assets), SIZE, dan SG (Sales growth) sebagai variabel bebas dan ROE (Return on Equity) sebagai variabel terikat. Data penelitian merupakan data sekunder yang diperoleh dari laporan keuangan perusahaan yang dipublikasikan oleh Bursa Efek Indonesia (BEI) dan Indonesia Capital Market Directory (ICMD) tahun 2009-2013. Model penelitian ini menggunakan metode fixed effect.Hasil pengujian model data panel ini menunjukkan bahwa DA dan SG memiliki pengaruh positif yang signifikan terhadap nilai ROE, sedangkan LDA dan SIZE memiliki pengaruh signifikan yang negatif terhadap nilai ROE.This study aimed to analyze the effects of capital structure as financing decisions on profitability of manufacturing companies listed in Indonesia Stock Exchange periods 2009-2013. The variables used for the analysis are LDA (Long-term debt to total assets), DA (total debt to total assets), SIZE, and SG (sales growth) as the independent variable and ROE (Return on Equity) as the dependent variable. The research data used in this study were secondary data obtained from the company's financial statements published by the Indonesia Stock Exchange (IDX) and the Indonesian Capital Market Directory (ICMD) in 2009-2013. This research model using fixed effect method.

The results of the panel data model testing shows that the DA and SG has a significant positive effect on the value of ROE, while LDA and SIZE has a significant negative effect on the value of ROE."