ANALISIS FAKTOR-FAKTOR YANG MEMPENGARUHI STRUKTUR MODAL PADA PERUSAHAAN SEKTOR PARIWISATA, RESTORAN DAN HOTEL YANG TERDAFTAR DI BURSA EFEK INDONESIA

Abstract

This study entitled "Analysis of Factors Influencing Capital Structure On Tourism
Companies, Restaurants and Hotels sectors Listed on the Indonesia Stock
Exchange". The purpose of this study was to analyze the influence of firm size,
profitability, growth, and liquidity of the capital structure in the tourism,
restaurants and hotels sectors. The population in this study are all companies listed
on the Stock Exchange year 2010-2014 periode. The number of samples taken in
this study were 11 companies by using purposive sampling method. Data analysis
techniques in this study are multiple linear regression, t-test, F-test and coefficient
of determination. Data used in this research are the secondary data sources.
Methods of data collection using literature, and documentation. Based on the
results of the study show that: (1) the size of the company's has positive and
significant influence on the capital structure, (2) Profitability has no influence on
the capital structure, (3) The Company's Growth has positive and significant
influence on the capital structure, (4) liquidity has significant negative influence on
the capital structure. The implications of this study are in an effort to obtain an
optimal capital structure, the management should take into account the various
factors affecting capital structure which are firm size, the company's growth, and
liquidity. One of the solusion is balancing between equity and debt for firm
operational.
Keywords: Capital structure (DER), size (size), profitability (ROA), growth
(growth), and liquidity (current ratio)