Manajemen S-1, Vol. 1 (2013) No. 1

Karakteristik Perusahaan dan Struktur Modal Pada Industri Manufaktur Yang Terdaftar di BEI Periode 2007-2011

Ayu Rahma Putri

Abstract

This study tests the determinants of capital structure for manufacturing firms listed in the Bursa Efek Indonesia (BEI) market during the five year period from 2007 to 2011. The data derive from financial statements of 91 companies with numbers of observations totaling 455. We use dependent variable of debt ratio and is expressed by total debt divided by equity  while the independent variables tangibility, profitability, firmsize, business risk.This study uses multiple regression method to see the contribution of each variable in influence capital structure, the result show that the profitability is significantly negatively related to capital structure and business risk is significantly positively related to capital structure. Other independent variable (tangibility and firm size)do not have influenced toward capital structure.

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