scholarly journals What Determines The Capital Structure of Property, Real Estate and Building Construction Companies? Evidence from Indonesian Listed Companies

2020 ◽  
Vol 9 (4) ◽  
pp. 370-382
Author(s):  
Sari Fitri Fatimah ◽  
Rini Setyo Witiastuti
Keyword(s):  
Real Estate ◽  
Capital Structure ◽  
Firm Size ◽  
Stock Exchange ◽  
Building Construction ◽  
Business Risk ◽  
Financial Flexibility ◽  
Significant Negative Effect ◽  
Negative Effect ◽  
The Capital Structure

This research is intended to prove the influence of financial flexibility, asset structure, firm size, profitability and business risk on the capital structure. The population on this study are property, real estate and building construction sector that are listed on the Indonesia Stock Exchange in 2009-2018. The number of samples used were 28 companies with a purposive sampling method. The data studied was obtained from the Indonesia Stock Exchange (IDX). Methods of data analysis used in this study is multiple linear regression. The results showed that financial flexibility has not significant  negative effect on capital structure. Asset structure and firm size have a significant positive effect on capital structure. The profitability and business risk have a significant negative effect on capital structure. Further research is needed to use another proxies such as ROE for profitability variables or standard deviations from ROE for business risk on capital structure and add another sectors or the number of observation periods.

scholarly journals PEGARUH PROFITABILITAS, UKURAN PERUSAHAAN, PERTUMBUHAN PENJUALAN DAN STRUKTUR AKTIVA TERHADAP STRUKTUR MODAL

Media Ekonomi ◽  
2016 ◽  
Vol 16 (2) ◽  
pp. 250
Author(s):  
Vera Melia Suci ◽  
Erny Rachmawati
Keyword(s):  
Real Estate ◽  
Capital Structure ◽  
Positive Affect ◽  
Firm Size ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Observation Time ◽  
Sales Growth ◽  
Negative Effect ◽  
The Capital Structure

This study is to analize the effects of profitability, firm size, sales growth, and assets structure to the capital structure among property and real estate companies listed in the Indonesian Stock Exchange in the period of 2011-2014. The sample were selected based on purposive sampling technique. To the total number of 43 different companies with a fouryear observation time, so the samples would be 172 observations. The study used a secundary data in the for of financial site Indonesian Stock Market (BEI), such as www.idx.co.id.The result of the research showed that profitability does not affect to the capital structure, The firm size has a positive affect to the capital struture. The last two variables growth sales and assets structure have any negative effect to the capital structure. Keyword: capital strucrure, profitability, firm size, sales growth, assets structure.

PENGARUH PROFITABILITAS, UMUR, DAN UKURAN PERUSAHAAN TERHADAP STRUKTUR MODAL

2015 ◽  
Vol 11 (2) ◽  
pp. 147
Author(s):  
Jefrianus Mau ◽  
Indri Prasasyaningsih ◽  
Putriana Kristanti
Keyword(s):  
Real Estate ◽  
Capital Structure ◽  
Firm Size ◽  
Positive Impact ◽  
Stock Exchange ◽  
Firm Age ◽  
Independent Variables ◽  
Negative Effect ◽  
Size Firm ◽  
The Capital Structure

; "> This study aims to examine the influence of profitability, age, and size of the company on the capitalstructure. Population in this research is the company's property and real estate listed on theIndonesia Stock Exchange in 2010-2014. There are 24 companies with the data for 5 years as manyas 120 data that meet the criteria of the study sample that has been set. Variables used in this studywere independent variables consisting of profitability as measured by ROE, firm size, firm age andthe dependent variable is capital structure. These results indicate that profitability as measured byROE negative effect on the capital structure, age did not affect the company's capital structure andthe size of the company's positive impact on the capital structure.Keywords: profitability, firm’s age, firm’s size, capital structure

scholarly journals FAKTOR-FAKTOR YANG MEMPENGARUHI STRUKTUR MODAL PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2011-2015

2017 ◽  
Vol 1 (2) ◽  
pp. 164-178
Author(s):  
Riska Urip Lestari ◽  
Danar Irianto
Keyword(s):  
Capital Structure ◽  
Firm Size ◽  
Stock Exchange ◽  
Control Variable ◽  
Secondary Data ◽  
Research Literature ◽  
Business Risk ◽  
Financial Flexibility ◽  
Sale Growth ◽  
Negative Effect

This study aimed to examine the effect of firm size, liquidity, financial flexibility, share growth, sale growth, business risk and profitability to capital structure. This study used secondary data from the company’s financial statements and determinan of the sample using techniques proposive sampling. The population in this study are manufacture companies listed on the Indonesian Stock Exchange (BEI) in the period  2011-2015 with a sample 55 companies. The result showed firm size has a positive effect to capital structure. Liquidity has a no effect to capital structure. Financial flexibility has a negative effect to capital structure. Sale growth has a positive effe ct to capital structure. Profitabilitas has a negatife effect to capital structure. Other result showed share growth and risk business has no effect to capital stucture. The result of the study are expected to add to the research literature that discuss the factors that effect of capital structure on manufacture companies. Further research can add control variable. Key Words:  Capital structure, Firm size, Liquidity, Financial flexibility, share growth, sale growth, business risk, Profitability

scholarly journals The Influence Of Financial Flexibility, Managerial Ownership, Firm Size On Capital Strukture, And Firm Value On Infrastructure, Utility And Transportation Companies

2021 ◽  
Vol 2 (4) ◽  
pp. 1371-1377
Author(s):  
Asrul Jaya ◽  
Djabir Hamzah ◽  
Maat Pono ◽  
Idayanti Nursyamsi
Keyword(s):  
Capital Structure ◽  
Firm Size ◽  
Firm Value ◽  
Managerial Ownership ◽  
Significant Positive Effect ◽  
Financial Flexibility ◽  
Significant Negative Effect ◽  
Negative Effect ◽  
Positive Effect ◽  
The Capital Structure

This study aims to analyze the effect of financial flexibility, managerial ownership, and firm size on firm value with capital structure as an intervening variable for infrastructure, utility, and transportation companies. This research was a quantitative study. The data used were secondary data in the form financial statements of infrastructure, utility and transportation companies listed in the Indonesia Stock Exchange during the period 2015-2019. The sample used was a purposive sampling technique consisting of 30 companies infrastructure, utility and transportation. The data were analyzed using path analysis supported by SmartPLS 3.3 software. The results show that financial flexibility has no significant negative effect on the capital structure; managerial ownership has a significant negative effect on the capital structure; firm size has a significant positive effect on the capital structure; financial flexibility has a significant negative effect on firm value; managerial ownership has no significant positive effect on firm value; firm size has no significant positive effect on firm value; capital structure has a significant positive effect on firm value; financial flexibility had no significant effect on firm value through capital structure; managerial ownership has a significant effect on firm value through capital structure; firm size has a significant effect on firm value through capital structure.

scholarly journals PENGARUH PROFITABILITAS, STRUKTUR AKTIVA, DAN LIKUIDITAS TERHADAP STRUKTUR MODAL PERUSAHAAN SUBSEKTOR KONSTRUKSI BANGUNAN DI BEI

2019 ◽  
Vol 8 (7) ◽  
pp. 4444
Author(s):  
Ni Putu Yulinda Prastika ◽  
Made Reina Candradewi
Keyword(s):  
Data Analysis ◽  
Capital Structure ◽  
Stock Exchange ◽  
Secondary Data ◽  
Study Data ◽  
Building Construction ◽  
Significant Negative Effect ◽  
Analysis Technique ◽  
Negative Effect ◽  
The Capital Structure

This study aims to determine the important factors that can affect the capital structure of companies in the construction construction sub-sector on the Indonesia Stock Exchange (IDX). There are 3 (three) important factors that can affect the capital structure, namely: profitability, asset structure, and liquidity. This research uses purposive sampling in the method of determining the sample so that it gets 9 companies which are the samples of this study. Data used in the form of secondary data taken for 6 years in the period 2012-2017. Multiple linear regression as a data analysis technique used. The results obtained from this study are 1) variable profitability has a significant negative effect on the capital structure of the company's construction construction sub-sector on the Indonesia Stock Exchange (IDX); 2) asset structure has a negative and significant effect on the building construction sub-sector of the company on the IDX; and 3) liquidity has a significant negative effect on the capital structure of the company's construction construction sub-sector on the IDX. Keywords: capital structure, profitability, asset structure, liquidity

scholarly journals Profitabilitas sebagai Pemoderasi Pengaruh Struktur Aktiva, Risiko Bisnis, dan Ukuran Perusahaan pada Struktur Modal

2021 ◽  
Vol 31 (9) ◽  
pp. 2213
Author(s):  
Ni Made Arika Wulandari ◽  
Maria Mediatrix Ratna Sari
Keyword(s):  
Capital Structure ◽  
Firm Size ◽  
Sampling Method ◽  
Stock Exchange ◽  
Manufacturing Sector ◽  
Positive Influence ◽  
Business Risk ◽  
Analysis Technique ◽  
Negative Effect ◽  
The Capital Structure

The capital structure is very important for the company, this is because it involves the policy of determining the source of funding used, both from inside and outside the company. This study aims to determine the effect of asset structure, business risk, and firm size on capital structure with profitability as a moderating variable. The research was conducted on manufacturing sector entities that are listed on the Indonesia Stock Exchange (IDX) for the 2016-2019 period. The population is 141 entities. Based on the purposive sampling method, the research sample used was 70 manufacturing entities. The data analysis technique in this study is moderated regression analysis. The results showed that the asset structure has a negative effect on the capital structure. Business risk has no influence on the capital structure. Firm size has a positive influence on capital structure. Profitability is able to moderate the effect of asset structure and firm size on capital structure. Profitability does not moderate the effect of business risk on capital structure. Keywords: Capital Structure; Assets Structure; Business Risk; Firm Size; Profitability.

scholarly journals Analisis Profitabilitas, Ukuran Perusahaan, Struktur Aset, Likuiditas, dan Risiko Bisnis terhadap Struktur Modal Perusahaan Manufaktur di Indonesia

2020 ◽  
Vol 3 (2) ◽  
pp. 282-291
Author(s):  
Velda Lianto ◽  
Annisa Nauli Sinaga ◽  
Elvi Susanti ◽  
Christina Yaputra ◽  
Veronica Veronica
Keyword(s):  
Capital Structure ◽  
Firm Size ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Manufacturing Companies ◽  
Business Risk ◽  
Purposive Sampling ◽  
The Capital Structure

Capital structure reflects the extent to which companies can manage existing capital to generate profits. The purpose of this research is to examine and analyze the influence of variables of profitability, firm size, asset structure, liquidity, and business risk on the capital structure in Manufacturing companies listed on the Indonesia Stock Exchange in the period of 2015 - 2018. The sampling technique uses purposive sampling by determining 3 criteria. From total of 155 companies, only 69 companies were sampled. The result of this research indicate that profitability has a positive and significant effect on capital structure, firm size has a positive and no significant effect on capital structure, asset structure has no effect and no significant on capital structure, liquidity and business risk have a negative and significant effect on capital structure in Manufacturing companies listed on the Indonesia Stock Exchange in the periode of 2015 -  2018. Keywords: Profitability, Firm Size, Asset Structure, Liquidity, Business Risk and Capital Structure

scholarly journals Determinants of Capital Structure Using Profitability as Moderating in Indonesia’s Property and Real Estate Firms

2021 ◽  
Vol 8 (2) ◽  
pp. 73-88
Author(s):  
Cecilia Anggie O. Tamba ◽  
Purwanto Purwanto
Keyword(s):  
Real Estate ◽  
Capital Structure ◽  
Firm Size ◽  
Quantitative Research ◽  
Stock Exchange ◽  
Financial Statement ◽  
Observation Data ◽  
Sales Growth ◽  
Business Risk ◽  
Equity Ratio

The research aim is to examine determinant factors of Indonesia's property and real estate firms capital structure listed in the Indonesia Stock Exchange. This is a quantitative research which taken 72 observation data from 12 companies audited financial statement and fulfilled certain criteria. Processing through classical assumption tests and multivariate analysis with the help of the EViews 10 software instrument. The results show that tangibility assets, business risk, and firm size have a significant influence on capital structure partially, but sales growth and liquidity have insignificant. The determination coefficient is 42.83%  and the proportion is included in the strong criteria. Profitability as a moderating variable weakens the effect of business risk but strengthens the effect of firm size on the debt to equity ratio, further determining the company's ability to pay off its debt which is of great concern to investors and creditors. Furthermore, as a consideration for choosing the composition of a good funding decision in Indonesia.

scholarly journals Risiko Bisnis, Profitabilitas, dan Struktur Aktiva Sebagai Penentu Struktur Modal Perusahaan Makanan dan Minuman

2021 ◽  
Vol 31 (11) ◽  
pp. 2748
Author(s):  
Ni Wayan Meitriyani ◽  
Ni Gusti Putu Wirawati
Keyword(s):  
Capital Structure ◽  
Stock Exchange ◽  
Significant Positive Effect ◽  
Manufacturing Companies ◽  
Business Risk ◽  
Analysis Technique ◽  
Food And Beverage ◽  
Negative Effect ◽  
Positive Effect ◽  
The Capital Structure

The purpose of this study was to determine the effect of business risk, profitability, and asset structure on capital structure. This study takes samples from manufacturing companies listed on the Indonesia Stock Exchange for the 2015-2019 period. The sample used is purposive sampling. The analysis technique used is multiple linear regression. The results of business risk research have a significant positive effect on the capital structure of Food and Beverage Companies Listed on the IDX in 2015-2019 while profitability has a significant negative effect on the capital structure of Food and Beverage Companies Listed on the IDX, and asset structure has a significant positive effect on the capital structure in Food and Beverage Companies Listed on the Indonesia Stock Exchange in 2015-2019. Keywords : Food and Beverage; Business Risk; Profitability; Asset Structure.

scholarly journals Faktor-Faktor Yang Mempengaruhi Struktur Modal Perusahaan Manufaktur Di BEI Periode 2015-2017

2019 ◽  
Vol 24 (1) ◽  
pp. 129
Author(s):  
Lukman Surjadi, Viviana
Keyword(s):  
Capital Structure ◽  
Stock Exchange ◽  
Company Size ◽  
Manufacturing Companies ◽  
Business Risk ◽  
Significant Negative Effect ◽  
Negative Effect

Thisistudy aims to examine the effect of company size, profitability, and business risk on capital structure in listed manufacturing companies in Indonesian Stock Exchange period 2015-2017. This study use 24 manufacturing companies as sample in this study and also use multipleiregression analysis.iThe results of this study indicate that company size has a significant positive effectnon capitalustructure while profitability and business risk has a not significant negative effect on capital structure.

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