Analisis pengaruh profitabilitas dan hutang terhadap struktur modal perusahaan

Peter Peter, Herlina Tanadi

Abstract


Perusahaan adalah sebuah badan usaha yang memiliki tujuan untuk mendapatkan keuntungan bagi pemiliknya. Perusahaan mempunyai permasalahan keuangan dalam mencapai tujuannya, dalam hal pembiayaan kegiatan operasional maupun pembiayaan investasinya. Keputusan pembiayaan operasional perusahaan akan melahirkan kebijakan struktur modal yang terkait dengan berbagai jenis sumber dana yang dipakai oleh perusahaan.  Pengelolaan struktur modal terkait dengan biaya modal dari sumber dana yang dipakai oleh perusahaan. Komposisi modal perusahaan terkait dengan persentase masing-masing sumber dana, dimana setiap sumber dana memiliki biaya tertentu. Penelitian ini bertujuan untuk menganalisis hubungan di antara profitabilitas, hutang dan struktur modal  perusahaan.  Data penelitian ini di dapatkan dari Indonesia Capital Market Directory (ICMD), yang merupakan data perusahaan manufaktur sektor barang konsumsi yang terdaftar di Bursa Efek Indonesia. Metode analisis data yang digunakan adalah dengan menggunakan metode Two Stage Least Square. Hasil penelitian menunjukkan bahwa profitabilitas, hutang dan struktur modal semuanya saling mempengaruhi antara satu dengan yang lainnya.


Keywords


Profitabilitas; hutang; struktur modal

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DOI: http://dx.doi.org/10.29264/jmmn.v12i1.6603

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