PENGARUH STRUKTUR MODAL, RISIKO BISNIS, UKURAN PERUSAHAAN DAN PERTUMBUHAN PENJUALAN TERHADAP RETURN ON EQUITY (Studi Empiris pada Perusahaan Property Dan Real Estate yang Terdaftar di Bursa Efek Indonesia Periode 2015-2019)

2021 ◽  
Vol 9 (3) ◽  
pp. 71-80
Author(s):  
Tri Narko
Keyword(s):  
Real Estate ◽  
Capital Structure ◽  
Stock Exchange ◽  
Hypothesis Test ◽  
Coefficient Of Determination ◽  
Sales Growth ◽  
Business Risk ◽  
Return On Equity ◽  
Level Of Significance ◽  
The Capital Structure

This research aims to test the Return On Equity as well as the influence of capital structure, business risk, company size and sales growth. The samples used in this study are Property and Real Estate companies listed on the Indonesia Stock Exchange in 2015-2019. Sampling in this study using purposive sampling method and obtained by 21 companies. The analysis techniques in this study are Multiple Regression Analysis, hypothesis test using F test simultaneously, and partial t test with 5% level of significance. The results of this study showed that the capital structure, business risk, size of the company and simultaneous sales growth influenced Return On Equtiy at a level of less than 5% which is 0.001. Partially only business risk variables that affect Return On Equity at a level of less than 5% is 0.001. While the capital structure, size of the company and sales growth have no effect on Return On Equity. From the results of processing SPSS produces the equation Y = 0.147 + 0.020X1 + 2.597X2 – 0.004X3 + 0.001X4 + e. While the value of coefficient of determination in this study was 0.447. This means that the ability of independent variables to describe dependent variable variations is 44.7%, while the remaining 55.3% is influenced by other variables not studied in this study

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 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)

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.

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.

scholarly journals Analysis of Factors Affecting Capital Structures in Companies Listed in Indonesia Stock Exchange Period 2010-2014

2021 ◽  
Vol 9 (2) ◽  
pp. 135-142
Author(s):  
Eva Hardianti
Keyword(s):  
Capital Structure ◽  
Sampling Method ◽  
Stock Exchange ◽  
Sample Selection ◽  
Secondary Data ◽  
Coefficient Of Determination ◽  
Company Size ◽  
Sales Growth ◽  
Factors Affecting ◽  
The Capital Structure

This research aims to analyze the factors that affect the capital structure of companies listed on the Indonesia Stock Exchange in the period 2010-2014. The variables studied were profitability, sales growth, asset structure and company size. This research is a comparative causal study. The data used is secondary data obtained from the site www.idx.co.id.The population in this study are all companies listed on the Indonesia Stock Exchange in the period 2010-2014. The sample selection is done by using purposive sampling method, so that as much as 1089 observational data are obtained. Analysis of the data used is multiple regression analysis. The results of this study indicate that the variable profitability, asset structure and firm size significantly influence the capital structure. The magnitude of the coefficient of determination (Adjusted R Square) is equal to 0.104. This means that 10.4% of the dependent variable that is capital structure can be explained by four independent variables namely profitability, sales growth, asset structure and company size. While the remaining 89.6% is explained by variables or other causes outside the model.

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

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

scholarly journals Capital Structure Determinants in Property and Real Estate Company in 2013 to 2018

2020 ◽  
Vol 76 ◽  
pp. 01050
Author(s):  
Sautma Ronni Basana ◽  
Tiffany Tandarto ◽  
Christina Soehono
Keyword(s):  
Data Analysis ◽  
Real Estate ◽  
Capital Structure ◽  
Stock Exchange ◽  
The Other ◽  
Company Size ◽  
Business Risk ◽  
Tax Shield ◽  
Real Estate Company ◽  
The Capital Structure

This research is to recognize the factors supporting the property and real estate company in determining the capital structure composition. The population of this research is all the property and real estate company listed on the Indonesia Stock Exchange 2013 to 2018. There are 48 companies listed until 2019. The data analysis employs a stratum test. The results of this research are the company’s performance, profitability influencing the capital structure, growth that does not influence the capital structure, nondebt tax shield influencing capital structure, and liquidity does not influence capital structure. In the company’s risk, the collateral value of assets influences capital structure; on the other hand, the business risk does not influence the capital structure. In the company’s characteristics, company size does not influence the capital structure.

scholarly journals PENGARUH UKURAN PERUSAHAAN, PERTUMBUHAN ASSET, PROFITABILITAS DAN PERTUMBUHAN PENJUALAN TERHADAP STRUKTUR MODAL PERUSAHAAN COSMETICS AND HOUSEHOLD DI BURSA EFEK INDONESIA

2017 ◽  
Vol 18 (01) ◽  
Author(s):  
Safitri Ana Marfuah Dan Siti Nurlaela
Keyword(s):  
Capital Structure ◽  
Firm Size ◽  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Multiple Linear Regression Analysis ◽  
Sales Growth ◽  
Return On Equity ◽  
Asset Growth ◽  
Independent Variable ◽  
The Capital Structure

Capital markets are trading activity related to capital, such as bonds and securities. This market serves to connect investors, companies and government institutions through long-term financial instruments trading. Capital structure decisions are not thorough and will result in high capital that will be received by the company and will affect the decline in profitability, it will threaten the company's financial position. This study has the objective to determine whether there is influence between the size of the company (firm size), the growth of assets (assets growth), profitability (return on equity) and sales growth (sales growth) on the capital structure (debt equity ratio) on a company to go public namely in the sectors listed Cosmetics and Houshold Indonesia Stock Exchange (BEI). The method used is quantitative, meaning researchers will quantify all of the data obtained. The samples used in this study 6 companies with the financial statements between 2010 to 2015. The sampling method in this research is purposive sampling with criteria in accordance with the objectives of the study. Analysis of the data used in this study using a method that consists of classic assumption test, multiple linear regression analysis, and test the hypothesis that simultaneous partial test and test. Results obtained from the partial test showed that the variables significantly influence the size of the company's capital structure. Asset growth variable has no significant effect on the capital structure. Variables significantly affect the profitability of capital structure. Variable sales growth known to have no significant effect on the capital structure. While the results obtained from testing simultaneously is the independent variable (the independent variable) used in this study (size of companies, growth in assets, profitability, sales growth) have a significant effect on the dependent variable (variable binder) that the capital structure.Keywords: firm size, asset growth, profitability, sales growth.

scholarly journals PROFITABILITAS, LIKUIDITAS DAN NILAI PERUSAHAAN (INDUSTRI PROPERTI DAN REAL ESTATE YANG LISTED DI PT. BEI PADA TAHUN 2011-2014)

2016 ◽  
Vol 1 (2) ◽  
Author(s):  
Yulita Setiawanta
Keyword(s):  
Real Estate ◽  
Firm Value ◽  
Stock Exchange ◽  
Hypothesis Test ◽  
Secondary Data ◽  
Total Sample ◽  
Coefficient Of Determination ◽  
Current Ratio ◽  
Asset Return ◽  
Return On Equity

This research aims to examine as partially the effect of ROA, ROEand CR on Firm Value of real estate and property company in Indonesia stock Exchange . Independent variables used are ROA (Return On Assets), ROE (Return On Equity) and CR (Current Ratio). The total sample on this research obtained to 174 data oberseved. The data analyzed is secondary data obtained from Indonesia stock Exchange. The analytical method in this research uses descriptive statistic, classical assumption test, F test, hypothesis test, and coefficient of determination test. The result of this study shows that ROA and CR have no significant effect on firm value, meanwhile ROE has the effect on frim value,Keyword: : Firm Value ; Return On Asset; Return On Equity; Current ratio.

scholarly journals Pengaruh Pertumbuhan Penjualan, Likuiditas, Risiko Bisnis, Profitabilitas & Struktur Aset Terhadap Struktur Modal Pada Perusahaan Sektor Properti yang terdaftar di Bursa Efek Indonesia

Owner ◽  
2021 ◽  
Vol 5 (1) ◽  
pp. 60-71
Author(s):  
Arie Pratania Putri ◽  
Jovian Cheserio ◽  
Katherine Katherine ◽  
Celine Celine ◽  
Jeslin Jeslin
Keyword(s):  
Capital Structure ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Total Sample ◽  
T Test ◽  
Coefficient Of Determination ◽  
Sales Growth ◽  
Business Risk ◽  
F Test ◽  
Score Method

This research was conducted in order, so we can find out how much influence the variable x on variable y. The independent variable (x) on this research are Sales Growth, Liquidity, Business Risk, Profitability, Asset Structure and the variable (y) is Capital Structure. The population in this research was taken from the property sector companies. This research used purposive sampling technique in order to find out the total sample, and the total is 132 samples. This research also used the Z-Score method, which used to remove the extreme data (abnormal data), which is equals to 15 samples, that means the final number in this research is 117 samples, and the data analysis used multiple linear regression, namely the coefficient of determination (R2), simultaneous (F test), partial (t test). And the result of the t test (partial) are Sales Growth, Liquidity doesn’t have a significant effect on Capital Structure, then Business Risk, Asset Structure has a significant effect on Capital Structure, and Profitability has no effect, but the significant on the Capital Structure of Property Sector Companies that listed on the Indonesia Stock Exchange between 2014 until 2017, the result of F test (simultaneous) is, all of the X variable are taking effect with variabel Y.

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