FAKTOR-FAKTOR YANG MEMENGARUHI STRUKTUR MODAL PADA PERUSAHAAN PROPERTI DAN REAL ESTATE DI INDONESIA

This research aims to analyze the factors affecting capital structure of property and real estate companies in Indonesia. The dependent variable used was DER, while the independent variable included profitability, growth opportunity, tangibility, size, dividend, liquidity, and business risk. The samples taken were the companies listed on the property and real estate sector of Indonesia Stock Exchange which were selected using purposive sampling. Among 47 companies listed on the property and real estate sector in the population, 8 companies were listed after January 2010, 1 company was delisting, and 1 company shifted to other sector. Hence, the samples used in this research were only 37 companies. The method used was linear regression. The result showed that profitability negatively influences capital structure; size and business risk have significant positive influence to the capital structure. On the other hand, growth opportunity, dividend, and liquidity do not have any significant influence on capital structure.

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PENGARUH GROWTH OPPORTUNITY, PROFITABILITY, BUSINESS RISK DAN SIZE TERHADAP STRUKTUR MODAL (Studi Pada Perusahaan Property dan Real Estate Yang Terdaftar Di BEI Periode 2009-2017)

JIMF (JURNAL ILMIAH MANAJEMEN FORKAMMA) ◽

10.32493/frkm.v2i2.3005 ◽

2019 ◽

Vol 2 (2) ◽

Author(s):

Ashop Barqoya

Keyword(s):

Real Estate ◽

Capital Structure ◽

Significant Influence ◽

Stock Exchange ◽

Sampling Technique ◽

Business Risk ◽

Return On Equity ◽

Real Estate Sector ◽

Growth Opportunity ◽

Turn Over

The purpose of this study was to determine the effect of growth opportunity, profitability, business risk, and size on the company's capital structure either partially or simultaneously.The object of research used is the property and real estate sector companies listed on the Indonesia Stock Exchange in 2009-2017. This study uses a purposive sampling technique in determining research samples. the number of companies selected as the study sample were 18 companies registered in the property and real estate sector. This study uses a quantitative approach. The results showed that partially growth opportunity and size had not significant effect, while profitability and business risk had a significant effect on capital structure. the results of testing simultaneously growth opportunity, profitability, business risk, and size have a significant influence on the capital structure. Turn Over ratio, Gross Profit Margin and Return On Equity show unfavorable conditions.

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PENGARUH GROWTH OPPORTUNITY, PROFITABILITY, BUSINESS RISK DAN SIZE TERHADAP STRUKTUR MODAL (Studi Pada Perusahaan Property dan Real Estate Yang Terdaftar Di BEI Periode 2009-2017)

JIMF (JURNAL ILMIAH MANAJEMEN FORKAMMA) ◽

10.32493/frkm.v2i3.3401 ◽

2019 ◽

Vol 2 (3) ◽

Author(s):

Ashop Barqoya

Keyword(s):

Real Estate ◽

Capital Structure ◽

Significant Influence ◽

Stock Exchange ◽

Sampling Technique ◽

Quantitative Approach ◽

Business Risk ◽

Purposive Sampling ◽

Real Estate Sector ◽

Growth Opportunity

The purpose of this study was to determine the effect of growth opportunity, profitability, business risk, and size on the company's capital structure either partially or simultaneously.The object of research used is the property and real estate sector companies listed on the Indonesia Stock Exchange in 2009-2017. This study uses a purposive sampling technique in determining research samples. the number of companies selected as the study sample were 18 companies registered in the property and real estate sector. This study uses a quantitative approach. The results showed that partially growth opportunity and size had not significant effect, while profitability and business risk had a significant effect on capital structure. the results of testing simultaneously growth opportunity, profitability, business risk, and size have a significant influence on the capital structure.

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Analisis Faktor- Faktor yang Memengaruhi Nilai Perusahaan di Sektor Properti dan Real Estate Terdaftar di Bursa Efek Indonesia pada Tahun 2014 - 2018

Jurnal Manajemen Bisnis dan Kewirausahaan ◽

10.24912/jmbk.v4i6.9791 ◽

2020 ◽

Vol 4 (6) ◽

pp. 246

Author(s):

Andy Andy ◽

Suwinto Johan

Keyword(s):

Real Estate ◽

Capital Structure ◽

Firm Size ◽

Firm Value ◽

Stock Exchange ◽

Secondary Data ◽

Sampling Technique ◽

Positive Influence ◽

Descriptive Research ◽

Independent Variable

The main issues examined in this study are the effect of profitability, capital structure, and firm size on firm value. The type of research used is descriptive research. The population in this study are all property and real estate companies listed on the Indonesia Stock Exchange, amounting to 55 companies. The sampling technique was determined by purposive sampling so that 24 companies could be sampled. The data used in this study are secondary data. The dependent variable is firm value and the independent variable is profitability of capital structure, and firm size. The analytical model used is multiple linear regression analysis.From the results of hypothesis testing it is found that: First, profitability has a significant effect on firm value with a sig value of 0,000 <α = 0.05. Second, capital structure affects the value of the company with a sig value of 0.024 <α = 0.05. Third, the size of the company affects the value of the company with a sig value of 0.699> α = 0.05. Fourth, profitability, capital structure, and company size significantly influence the value of the company with sig 0,000 <α = 0.05.Based on the results of the study, researchers suggest to companies 1. In order to continue to increase profits so that profitability with increased profitability will affect the increase in firm value. 2. In order to be able to maintain its capital structure in order to be able to influence the value of the company. In addition the company must also maintain assets because with high assets will increase the value of ln total assets so that the size of the company will be high which will have a positive influence on the value of the company.

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PENGARUH SIZE, LIKUIDITAS, PROFITABILITAS, RISIKO BISNIS, DAN PERTUMBUHAN PENJUALAN TERHADAP STRUKTUR MODAL PADA SEKTOR INDUSTRI PROPERTI

Jurnal Riset Manajemen dan Bisnis ◽

10.21460/jrmb.2017.121.271 ◽

2017 ◽

Vol 12 (1) ◽

pp. 13

Author(s):

Anissa Mega Ratri ◽

Ari Christianti

Keyword(s):

Real Estate ◽

Capital Structure ◽

Stock Exchange ◽

Sales Growth ◽

Business Risk ◽

Pecking Order ◽

Real Estate Sector ◽

Negative Effect ◽

Positive Effect

This research aimed to test the effects of size, liquidity, profitability, business risk, and sales growth to capital structure. The objects of this research were companies in property and real estate sector listed in Jakarta Stock Exchange. This research used period from 2010 to 2014 and used panel dataanalysis. The result showed size had positive effect on capital structure. Furthermore, liquidity, profitability, business risk, and growth of sales had negative effect on capital structure. This research could be concluded to support the Pecking Order Theory.Keywords: Capital Structure, Size, Liquidity, Profitability, Business Risks , and Sales GrowthPenelitian ini bertujuan untuk menguji pengaruh ukuran perusahaan, likuiditas, profitabilitas, risiko bisnis, dan pertumbuhan penjualan terhadap struktur modal. Adapun objek dalam penelitian iniadalah perusahaan yang termasuk dalam sektor properti dan real estate yang terdaftar di Bursa Efek Indonesia periode 2010-2014 dengan menggunakan analisis data Panel. Hasil penelitian menunjukkan bahwa ukuran perusahaan berpengaruh positif terhadap struktur modal. Selanjutnya, tingkat likuiditas, pertumbuhan profitabilitas, risiko bisnis, dan pertumbuhan penjualan berpengaruh negatif terhadap struktur modal. Hasil penelitian ini secara keseluruhan mendukung teori strukturmodal Pecking Order.Kata kunci: Struktur Modal, Ukuran, Likuiditas, Profitabilitas, RisikoBisnis, danPenjualanPertumbuhan

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Pengaruh Struktur Modal, Profitabilitas, dan Struktur Aktiva terhadap Harga Saham

STATERA: Jurnal Akuntansi dan Keuangan ◽

10.33510/statera.2019.1.1.47-60 ◽

2019 ◽

Vol 1 (1) ◽

pp. 47-60

Author(s):

Sellytyanengsih E. Churcill ◽

Kenny Ardillah

Keyword(s):

Data Analysis ◽

Capital Structure ◽

Stock Price ◽

Stock Exchange ◽

Sampling Technique ◽

Positive Influence ◽

Financial Statement ◽

Purposive Sampling ◽

Manufacture Company ◽

Significant Positive Influence

The purpose of this research is to examine the influence of profitability, capital structure, and asset structure positively to the stock price on manufacture companies which are listed in Indonesia Stock Exchange (IDX). The research samples have been selected by using purposive sampling technique to the 62 manufacture companies have been published the financial statement and active stocks which have been traded at Indonesia Stock Exchange (IDX) in 2014 – 2016 periods with the amount of 186 data which have yet to be the research sample criteria.The data analysis has been carried out by using multiple linier regressions analysis. The results of the study found out that capital structure has a positive influence on stock price means that the high capital structure influences shareholder decisions in increasing stock price. Profitability has a significant positive influence on stock price means that every increase in the profitability of a food and beverages company, it causes the stock price will increase. And asset structure have a positive influence on stock price means to indicate that every increase in asset structure of manufacture company, it causes that stock price will increase.

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PENGARUH GROWTH OPPORTUNITY TERHADAP NILAI PERUSAHAAN MELALUI STRUKTUR MODAL (pada Perusahaan Sektor Property, Real Estate & Building Construction yang Terdaftar di Bursa Efek Indonesia Tahun 2011-2014)

Distribusi - Journal of Management and Business ◽

10.29303/distribusi.v4i2.11 ◽

2018 ◽

Vol 4 (2) ◽

pp. 15-28

Author(s):

Nova Adhitya Ananda ◽

I Nyoman Nugraha Ardana P

Keyword(s):

Real Estate ◽

Capital Structure ◽

Firm Value ◽

Stock Exchange ◽

Sampling Technique ◽

Partial Least Square ◽

Least Square ◽

Building Construction ◽

Construction Company ◽

Growth Opportunity

ABSTRACT The purpose of this research is to find the influence of growth opportunity and capital structure on firm value. The research objects used is property, real estate and building construction company which listed in Indonesian Stock Exchange in 2011-2014. This research used a purposive sampling technique in determining the research sample. The number of companies chosen as the sample in 37 company of 54 companies registered in property, real estate and building construction sector. This research was included in the explanatory research using quantitative approach. Data analysis method used in this research is partial least square (PLS) analysis. The result showed that in directly growth opportunity and capital structure has a significant effect on firm value. Growth opportunity undirectly has significant effect on the firm value by means of capital structure. Growth opportunity has a positive and significant effect on capital structure and capital structure has a negative and significant effect on firm value.Keywords : Growth Opportunity, Capital Structure and Firm Value

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THE INFLUENCE OF CAPITAL STRUCTURE, SIZE, PROFITABILITY, AND DIVIDEND PER SHARE TO COMPANY VALUE WITHIN GROWTH OPPORTUNITY AS MEDIATOR VARIABLE IN INDONESIA STOCK EXCHANGE

Equator Journal of Management and Entrepreneurship (EJME) ◽

10.26418/ejme.v9i1.45930 ◽

2021 ◽

Vol 9 (1) ◽

Author(s):

Desy Harfiani Harfiani

Keyword(s):

Capital Structure ◽

Stock Exchange ◽

Secondary Data ◽

Negative Influence ◽

Positive Influence ◽

Pooled Data ◽

Company Value ◽

Growth Opportunity ◽

Data Regression ◽

Mediator Variable

This study examines and analyze influence of capital structure, size, profitability, and dividend per share to company value within growth opportunity as mediator variable. This research used secondary data. The data analysis method used in this research is pooled data regression by seeing 30 company in Indonesia Stock Exchange in the year 2016-2019. The result of this study show that the variable capital structure has a positive influence and no significant to company value. Variable size has a negative influence and no significant to company value. Variable profitability has a positive influence and no significant to company value. Variable dividend per share has a negative influence and no significant to company value. And growth opportunity has a negative and no significant to company value. Whereas, capital structure, size, profitability and dividend per share not has significant influence to growth opportunity.

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

Emerging Markets Business and Management Studies Journal ◽

10.33555/embm.v8i2.175 ◽

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.

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Capital Structure, Business Risk and Corporate Performance (Case Study on Construction and Real Estate Sector)

Perisai Islamic Banking and Finance Journal ◽

10.21070/perisai.v3i2.2670 ◽

2019 ◽

Vol 3 (2) ◽

pp. 83 ◽

Cited By ~ 1

Author(s):

Sutrisno Sutrisno

Keyword(s):

Real Estate ◽

Capital Structure ◽

Firm Size ◽

Corporate Performance ◽

Control Variable ◽

Sales Growth ◽

Business Risk ◽

Tax Shield ◽

Real Estate Sector ◽

Debt Tax Shield

The purpose of this study is to examine the effect of capital structure and business risk on corporate performance. This study also examined the effect of non debt tax shield (NDTS) and sales growth (SG) on corporate performance with firm size (SIZ) as a control variable. Corporate performance is measured by return on assets (ROA), while capital structure is measured by debt to equity ratio (DER), and business risk meausred by degree of operating leverage (DOL). The population in this study is a company engaged in the construction and real estate sector that listed on the Indonesia Stock Exchange. The samples taken were 32 companies with purposive sampling. observations period for 3 years (2015-2017). Data is processed using ordinary least square (OLS). The results showed on the significance level 0.10, capital structure (DER) had a significant but negative effect on corporate performance. Business risk (DOL) and sales growth (SG) have a significant and positive effect on performance. While non debt tax shield (NDTS) and firm size (SIZ) have no significant effect on corporate performance

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