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ANALISIS FAKTOR-FAKTOR YANG MEMPENGARUHI DEBT TO EQUITY RATIO PADA PERUSAHAAN OTOMOTIF YANG
TERDAFTAR DI BURSA EFEK INDONESIA
ABSTRAK
Penelitian ini bertujuan untukmenguji pengaruhukuran perusahaan, profitabilitas, peluang pertumbuhan, struktur aset, likuiditas dan kepemilikan institusionalterhadap Debt-to-Equity Ratio(DER) pada Perusahaan Otomotif yang terdaftar di Bursa Efek Indonesia (BEI)pada periode 2006-2012.Penelitian ini merupakan Causal EffectResearch. Berdasarkan hasil pengambilan sampel dengan metode purposive sampling, seluruh elemen populasi yang berjumlah 26 perusahaan terpilih menjadi sampel penelitian.Metode analisis data yang digunakan dalam penelitian ini adalah analisis regresi linier berganda.Hasil penelitian menunjukkan bahwa berdasarkan hasil Uji F, secara simultan variabel ukuran perusahaan, profitabilitas, peluang pertumbuhan, struktur aset, likuiditas dan kepemilikan institusional berpengaruh signifikan terhadap DER. Hasil Uji t menunjukkan bahwa secara parsial variabel ukuran perusahaanberpengaruh negatif dan signifikan terhadap DER sedangkan variabel profitabilitas, struktur aset dan likuiditas berpengaruh positif dan signifikan terhadap DER.Hanya variabel peluang pertumbuhandan kepemilikan institusional yang berpengaruh negatif tetapi tidak signifikan terhadap DER. Hasil penelitian juga menunjukkan bahwa faktor yang paling dominan mempengaruhi DER, secara berurutan, adalah profitabilitas, struktur aset, likuiditas dan ukuran perusahaan.
Kata Kunci : Ukuran Perusahaan, Profitabilitas, Peluang Pertumbuhan, Struktur Aset, Likuiditas, Kepemilikan Institusional,Debt-to-Equity Ratio
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ANALYSIS OF THE FACTORS WHICH AFFECT THE DEBT TO EQUITY RATIO AT AUTOMOTIVE COMPANIES LISTED ON THE INDONESIA
STOCK EXCHANGE
ABSTRACT
This research aims to test the influence of size of companies, growth opportunities, profitability, liquidity and asset structure, institutional ownership of Debt-to-Equity Ratio (DER) in Automotive Companies listed on the Indonesia stock exchange (BEI) in the period 2006-2012. This research is the Causal Effect Research. Based on the results of sampling and purposive sampling method, the entire population of elements that add up to 26 companies selected as research samples. Methods of data analysis used in this study is the analysis of multiple linear regression. The results showed that based on the test results of F, simultaneously the company size variables, profitability, growth opportunities, the structure of assets, liquidity and institutional ownership influence significantly to DER. Test results of t indicates that the variable size of the companies partially negative and significant impact on the profitability of variable, whereas DER structure and asset liquidity affects positively and significantly to DER. only the variable growth opportunities and an influential institutional ownership is negative but not significantly to DER. Study results also showed that the most dominant factor influencing DER, sequentially, profitability, structure is an asset, liquidity and size of company.
Keywords: Company size, profitability, growth opportunities, the structure of assets, liquidity, Institutional Ownership, Debt-to-Equity Ratio
ii
ANALYSIS OF THE FACTORS WHICH AFFECT THE DEBT TO EQUITY RATIO AT AUTOMOTIVE COMPANIES LISTED ON THE INDONESIA
STOCK EXCHANGE
ABSTRACT
This research aims to test the influence of size of companies, growth opportunities, profitability, liquidity and asset structure, institutional ownership of Debt-to-Equity Ratio (DER) in Automotive Companies listed on the Indonesia stock exchange (BEI) in the period 2006-2012. This research is the Causal Effect Research. Based on the results of sampling and purposive sampling method, the entire population of elements that add up to 26 companies selected as research samples. Methods of data analysis used in this study is the analysis of multiple linear regression. The results showed that based on the test results of F, simultaneously the company size variables, profitability, growth opportunities, the structure of assets, liquidity and institutional ownership influence significantly to DER. Test results of t indicates that the variable size of the companies partially negative and significant impact on the profitability of variable, whereas DER structure and asset liquidity affects positively and significantly to DER. only the variable growth opportunities and an influential institutional ownership is negative but not significantly to DER. Study results also showed that the most dominant factor influencing DER, sequentially, profitability, structure is an asset, liquidity and size of company.
Keywords: Company size, profitability, growth opportunities, the structure of assets, liquidity, Institutional Ownership, Debt-to-Equity Ratio
ii
ANALYSIS OF THE FACTORS WHICH AFFECT THE DEBT TO EQUITY RATIO AT AUTOMOTIVE COMPANIES LISTED ON THE INDONESIA
STOCK EXCHANGE
ABSTRACT
This research aims to test the influence of size of companies, growth opportunities, profitability, liquidity and asset structure, institutional ownership of Debt-to-Equity Ratio (DER) in Automotive Companies listed on the Indonesia stock exchange (BEI) in the period 2006-2012. This research is the Causal Effect Research. Based on the results of sampling and purposive sampling method, the entire population of elements that add up to 26 companies selected as research samples. Methods of data analysis used in this study is the analysis of multiple linear regression. The results showed that based on the test results of F, simultaneously the company size variables, profitability, growth opportunities, the structure of assets, liquidity and institutional ownership influence significantly to DER. Test results of t indicates that the variable size of the companies partially negative and significant impact on the profitability of variable, whereas DER structure and asset liquidity affects positively and significantly to DER. only the variable growth opportunities and an influential institutional ownership is negative but not significantly to DER. Study results also showed that the most dominant factor influencing DER, sequentially, profitability, structure is an asset, liquidity and size of company.
Keywords: Company size, profitability, growth opportunities, the structure of assets, liquidity, Institutional Ownership, Debt-to-Equity Ratio
