PENGARUH RESIKO BISNIS DAN GROWTH OPPORTUNITY TERHADAP STRUKTUR MODAL PADA PERUSHAAN MANUFAKTUR SUB SEKTOR KOSMETIK DAN BARANG KEPERLUAN RUMAH TANGGA YANG TERDAFTAR DI BURSA EFEK INDONESIA PRIODE 2012-2017

Deni Sunaryo

Abstract


Based on this aim is to determine the effect of business risk and growth opportunity on the capital structure of the cosmetics and goods manufacturing sub-sector manufacturing companies listed on the Indonesia Stock Exchange in the period 2012-2017. Based on the results of this study it can be concluded partially business risks have a significant effect on the capital structure of the cosmetics and household goods manufacturing sub-sector companies listed on the Indonesia Stock Exchange. This is evidenced by the results of the t test for business risk variables obtained t count 14.675 with the significance value of the study shows the number 0.000. The results of the study show that partially the growth opportunity does not have a significant effect on the capital structure of the cosmetics and household goods manufacturing sub-sector companies listed on the Indonesia Stock Exchange. This is evidenced by the results of the t test -0.985 with the significance value of the study showing the number 0.333. Business risk and growth opportunity significantly influence the capital structure of the cosmetics and household goods manufacturing sub-sector manufacturing companies listed on the Indonesia Stock Exchange with an F count of 113.531 with a significance value of 0.000. The value of the adjusted R Square number determination coefficient shows that business risk and growth opportunity on capital structure is 89.4% while the remaining 10.6% is explained by other factors outside the research model. Based on this aim is to determine the effect of business risk and growth opportunity on the capital structure of the cosmetics and goods manufacturing sub-sector manufacturing companies listed on the Indonesia Stock Exchange in the period 2012-2017. Based on the results of this study it can be concluded partially business risks have a significant effect on the capital structure of the cosmetics and household goods manufacturing sub-sector companies listed on the Indonesia Stock Exchange. This is evidenced by the results of the t test for business risk variables obtained t count 14.675 with the significance value of the study shows the number 0.000. The results of the study show that partially the growth opportunity does not have a significant effect on the capital structure of the cosmetics and household goods manufacturing sub-sector companies listed on the Indonesia Stock Exchange. This is evidenced by the results of the t test -0.985 with the significance value of the study showing the number 0.333. Business risk and growth opportunity significantly influence the capital structure of the cosmetics and household goods manufacturing sub-sector manufacturing companies listed on the Indonesia Stock Exchange with an F count of 113.531 with a significance value of 0.000. The value of the adjusted R Square number determination coefficient shows that business risk and growth opportunity on capital structure is 89.4% while the remaining 10.6% is explained by other factors outside the research model.

Keywords


Debt to Equity Ratio; Return on Equity; Growth

Full Text:

PDF (Indonesian)

References


...................... 2015. Pengantar Teori Portofolio dan Analisis Investasi. Bandung: Alfabeta, cv.

Anita, D., & Sembiring, G. A. (2017). Analisis Pengaruh Profitabilitas, Pertumbuhan Aset, Risiko Bisnis, Tingkat Likuditas dan Ukuran Perusahaan terhadap Struktur Modal Perusahaan Jasa (Sektor Hotel, Restoran dan Pariwisata) yang Terdaftar di Bursa Efek Indonesia Periode 2010-2014. PROCURATIO (Jurnal Ilmiah Manajemen), 4(4), 415-433.

Astuti, R. P. (2015). Pengaruh Profitabilitas, Size, Growth Opportunity, Likuiditas dan Struktur Aktiva Terhadap Struktur Modal Bank (Studi Pada Perusahaan Perbankan Di BEI Tahun 2009-2013). Journal Of Accounting, 1(1).

Chandra, T. (2014). Faktor-Faktor yang Memengaruhi Struktur Modal Pada Perusahaan Properti dan Real Estate di Indonesia. Ekuitas: Jurnal Ekonomi dan Keuangan, 18(4), 507-523.

Fahmi, Irham. 2014. Analisis Kinerja Keuangan. Bandung: Alfabeta, cv.

Ghozali, Imam. 2016. Aplikasi Analisis Multivariate dalam Program IBM SPSS 23. Cetakan ke delapan. Semarang: Badan Penerbit Universitas Diponogoro.

Ivanka. R. H. (2015). Evaluasi Kinerja Keuangan Pada Perusahaan Sektor Industri Konsumsi dengan Pendekatan Profitabilitas (studi kasus perusahaan sektor industri barang konsumsi yang terdaftar di Bursa Efek Indonesia). Skripsi. Tidak Diterbitkan.

Lukiana, N., & Hartono, H. (2014). Struktur Modal Dipengaruhi Oleh Beban Pajak, Risiko Bisnis, Dan Struktur Kepemilikan. Wiga: Jurnal Penelitian Ilmu Ekonomi, 4(2), 28-38.

Mulyani, H. S. (2017). Analisis Struktur Modal Berdasarkan Growth Opportunity, Profitabilitas, Effektive Tax Rate Dan Asset Tangibility (Studi Pada Perusahaan Food And Beverage Yang Terdaftar Di Bursa Efek Indonesia Tahun 2011-2015). MAKSI, 4(2).

Mustika, Irma. (2017). Pengaruh Profitabilitas,Struktur Aset dan Growth Opportunity Terhadap Struktur Modal Perusahaan (studi empiris pada seluruh perusahaan yang terdaftar di Bursa Efek Indonesia). Skripsi. Tidak diterbitkan.

Najib, Mohammad. 2015. Manajemen Keuangan. Bandung: PUSTAKA SETIA.

Prasetya, B. T. (2014). Pengaruh Profitabilitas, Ukuran Perusahaan, Growthopportunity, Likuiditas, Struktur Aset, Resiko Bisnis Dan Non Debt Tax Shield Terhadap Struktur Modal Pada Perusahaan Sub-Sektor Barang Konsumsi. Jurnal Ilmu Manajemen (JIM), 2(4).

Puspida, S. (2016). Pengaruh Risiko Bisnis Dan Pertumbuhan Aktiva Terhadap Struktur Modal Pada Pt Pembangkitan Jawa Bali. Jurnal Ilmu & Riset Manajemen, 2(2).

Santoso, Y., & Priantinah, D. (2016). Pengaruh Profitabilitas, Ukuran Perusahaan, Struktur Aktiva, Likuiditas dan Growth Opportunity terhadap Struktur Modal Perusahaan. Jurnal Profita: Kajian Ilmu Akuntansi, 4(4).

Sari, R. I. (2017). Pengaruh Struktur Aktiva, Risiko Bisnis, Pertumbuhan Penjualan, Dan Profitabilitas Terhadap Struktur Modal.

Sartono, Agus. 2010. Manajemen Keuangan Teori dan Aplikasi.Cetakan ke Empat. Yogyakarta: BPFE.

Sugiyono, 2010. Metode Penelitian Bisns (Pendekatan Kuantitatif, Kualitatif dan R&D). Bandung: Alfabeta.CV

Trianto, Rendra & Fachruzzaman, (2013). Analisis Pengaruh Struktur Aktiva, Ukuran Perusahaan, Profitabilitas, dan Kesempatan Bertumbuh Terhadap Struktur Modal. Skripsi. Tidak diterbitkan.

WAHYUNI, I. (2017). Pengaruh Growth Opportunity, Profitabilitas Dan Kebijakan Dividen Terhadap Struktur Modal (Studi Pada Perusahaan Manufaktur Di Bursa Efek Indonesia).

www.britama.com

www.idx.co.id

www.kompasiana.com

Yuliandi, Y., Mulyadi, J. M. V., & Yusuf, M. (2016). Pengaruh Profitabilitas, Tangibilitas, Risiko Bisnis, Pajak, Non Debt Tax Shield Terhadap Struktur Modal Serta Implikasinya Terhadap Nilai Perusahaan. JRAP (Jurnal Riset Akuntansi dan Perpajakan), 3(2), 251-263.




DOI: http://dx.doi.org/10.35448/jrat.v12i1.5193

Refbacks

  • There are currently no refbacks.


Copyright (c) 2019 Jurnal Riset Akuntansi Terpadu

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.

pISSN 1979-682X    eISSN 2528-7443

Creative Commons License

Jurnal Riset Akuntasi Terpadu (JRAT) is licensed under a Creative Commons Attribution 4.0 International License