Pengaruh Struktur Kepemilikan, Profitabilitas, Pertumbuhan Aktiva, dan Ukuran Perusahaan terhadap Struktur Modal pada Perusahaan Manufaktur Go Public di Bursa Efek Jakarta

Abstract

This research aimed to test influence ofthe Ownership Structure, Profitability, Asset growth, and Size measure of firm to Capital Structure. This Research limited to manufacturing company which go public in Jakarta Stock Exchange. Ownership Structure in this research is calculated pursuant to share Amount insider ownership divided by ashare amount investor, profitability reckoned from net profit margin, Asset growth calculated by pursuant to Asset of year t lessened to the asset of year t-1 divided asset of year t, while Size measure company reckoned from a logarithm (total asset). This research conducted by taking secondary data. Population in this research is manufacturing company obtained from share which listed and go public in Jakarta Stock Exchange period 2002-2005. With the intake technique is purposive sampling obtained data as much 38 company. As for accurate problem in this research is how the influence of Ownership Structure, Profitability, Asset Growth, and Size measure Company to Capital Structure. Hypothesis in this research is pursuant to four variable independent that is (a) there are positive influence which signifikan between ownership structure to capital structure ( b) there are negativity influence which signifikan between Profitability to capital structure (c) there are positive influence which signifikan between asset growth to capital structure and (d) there are positive influence which signifikan between size measure company to capital structure. Result of analysis or T test in this research indicate that the ownership structure, asset growth, and size measure company raised proven signifikan or accepted. Only unprovable profitability or refused. While result F test show as a whole independent variable at a time have an effect on the signifikan to Capital Structure company at storey signifikansi level 5%, just only variable of size measure of company signifikan till level of signifikansi level 10%.