i ABSTRAK
Faktor yang Mempengaruhi Struktur Modal Perusahaan Sektor Infrastruktur, Utilitas, dan Transportasi Dengan Ukuran Perusahaan Sebagai Variabel
Moderating di Bursa Efek Indonesia
Penelitian ini bertujuan untuk menganalisis pengaruh profitabilitas, likuiditas, struktur aktiva, growth opportunity, dan non debt tax shield terhadap struktur modal yang dimoderasi oleh ukuran perusahaan pada perusahaan sektor infrastruktur, utilitas, dan transportasi di Bursa Efek Indonesia periode 2011-2014. Populasi penelitian ini sebanyak 50 perusahaan jasa sektor infrastruktur, utilitas, dan transportasi di Bursa Efek Indonesia. Metode pengambilan sampel yang digunakan adalah metode sampel jenuh. Data penelitian diperoleh dari laporan keuangan yang telah dipublikasikan dan diunduh dari website BEI yaitu www.idx.co.id dan website perusahaan terkait. Analisis yang digunakan dalam penelitian ini adalah analisis statistik deskriptif, analisis regresi data panel, dan Moderated Regression Analysis. Hasil penelitian ini menunjukkan bahwa ukuran perusahaan sebagai variabel moderating bersifat memperkuat hubungan antara profitabilitas, likuiditas, struktur aktiva, growth opportunity, dan non debt tax shield terhadap struktur modal. Ukuran perusahaan merupakan pemoderasi homologizer. Growth opportunity berpengaruh positif dan signifikan. terhadap struktur modal. Profitabilitas, likuiditas, dan non debt tax shield berpengaruh negatif dan tidak signifikan. Kemudian, struktur aktiva menunjukkan pengaruh positif dan tidak signifikan.
Kata kunci : profitabilitas, likuiditas, struktur aktiva, growth opportunity, non debt tax shield,ukuran perusahaan, dan struktur modal.
ii ABSTRACT
Factors Affecting Capital Structure of Infrastructure, Utilities, And Transport Sector Companies With Firm Size As Variable Moderating
On The Stock Exchange Indonesia
This study aims to analyze about the influence of profitability, liquidity, tangibility, growth opportunity, and non debt tax shield against capital structure which is moderated by firm size in infrastructure, utility, and transport sector companies listed on the Indonesia Stock Exchange in 2011-2014. The study population was 50 companies listed in the Indonesia Stock Exchange. The sampling method used is saturation sampling method. Data were obtained from financial statements that have been published and downloaded from the website of the Stock Exchange that www.idx.co.id and website of companies. The analysis used in this research are descriptive statistical analysis, panel regression analysis, and Moderate Regressin Analysis. These results indicate that firm size become moderating variable which strengthens correlation among profitability, liquidity, tangibility, growth opportunity, and non debt tax shield to capital structure. Firm size is homologizer moderator. Growth opportunity influence positive and significant on capital structure. Profitability, liquidity, and non debt tax shield influence negative and no significant on capital structure. And then tangibility influence positive and no significant on capital structure.
Keyword : profitability, likuidity, tangibility, growth opportunity, non debt tax shield, firm size, and capital structure.
