i ABSTRAK
Struktur modal
merupakanmasalahpentingdalampengambilankeputusanmengenaipendanaanperusaha an.Bauranutangdanekuitasuntukpendanaanperusahaanmerupakanbahasanutamadarike
putusanstruktur modaldimanastruktur modal optimal
sebuahperusahaanadalahkombinasiutangdanekuitas
Penelitianinimengujipengaruhstrukturaktiva, profitabilitas, peluangpertumbuhandanrisikobisnisterhadapstruktur
modal.Selainitupenelitianinijugamengujiapakahukuranperusahaanmemperkuatataumemperle mahhubunganvariabelindependenterhadapvaribeldependen.Populasidalampenelitianiniadalah perusahaan-perusahaanmanufaktur yang terdaftar di Bursa Efek Indonesia (BEI) periodetahun 2008-2010.Teknikpengambilansampelmenggunakanpurposive sampling, sedangkanteknikanalisismenggunakananalisisregresi data panel.
Berdasarkanhasilpenelitianmenunjukkanbahwastrukturaktiva, profitabilitas, peluangpertumbuhandanrisikobisnisberpengaruhnegatifdansignifikanterhadapstruktur modal perusahaan. Denganadanya size sebagaivariabelmoderasistrukturaktiva, profitabilitasdanpertumbuhanperusahaantetapberpengaruhnegatifdansignifikansedangkanrisik obisnisberpengaruhpositifdantidaksignifikan.Selainituukuranperusahaanmemperlemahpengar uhnegatifprofitabilitasdanpertumbuhanperusahaanterhadapstruktur modal.
ii ABSTRACT
The capital structureis an important issuein decisions aboutcorporate funding. Mixof debtandequityfinancingforcompanies isthe main discussionof thecapital structure decisionsin which theoptimalcapitalstructure ofa companyis acombination ofdebtandequity.
This studyexamined the effect ofasset structure, profitability, growth opportunitiesand business risksof thecompany'scapital structure. In addition, this study also testedwhether thesize of the companyto strengthenor weakenthe relationshipof independent variables onthe dependentvariable. The populationin this study ismanufacturing companieslistedon theIndonesia Stock Exchange (BEI) in the period of 2008-2010. The sampling technique usedpurposive sampling andtechniques data analysis using regression panel data.
These results indicate that the asset structure, profitability, growth opportunities and business risk has a significant negative impact on the capital structure of the company. With the size as a moderating variable, asset structure, profitability and growth opportunities has a significant negative. While the business risk has a not significant positive effect.The results also showed that the firm size weakens the negative effect of growth opportunities and profitability on capital structure.
