DETERMINAN STRUKTUR MODAL PERUSAHAAN FAMILY BUSINESS PADA INDEKS KOMPAS100
Abstract
The purpose of this study was to determine the effect of the independent variables, as asset structure, growth opportunities, profitability, managerial ownership, firm size, and diversification with capital structure on family business in the KOMPAS100 Index for the 2014-2019 period. This study uses a quantitative approach to secondary data with a population originating from family business companies in the KOMPAS100 Index for the 2014-2019 period as many as 91 companies, purposive sampling technique was used in sampling, so that the total observations in this study amounted to 126 observations. The data analysis method used is panel data regression analysis, the data is processed using Eviews software. The results partially show that profitability, managerial ownership and diversification have an influence on capital structure. Meanwhile, asset structure, growth opportunities and firm size do not affect the capital structure. The results of the study simultaneously show that asset structure, growth opportunities, profitability, managerial ownership, firm size, and diversification have an influence on capital structure.
References
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Wairooy, M. A. (2020). Pengaruh Diversifikasi Operasional Dan Profitabilitas Terhadap Struktur Modal Pada. 2, 62–76.
Wiryani, D., & Mertha, I. (2016). Kepemilikan Manajerial Sebagai Pemoderasi Pengaruh Diversifikasi Operasional Pada Struktur Modal. E-Jurnal Akuntansi, 15(3), 2134–2160.
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Astuti, R. P. (2013). Pengaruh Profitabilitas, Size, Growth Opportunity, Likuiditas dan Struktu Aktiva terhadap Strukur Modal Bank (Studi Pada Perusahaan Perbankan Di BEI Tahun 2009-2013). Jurnal Akuntansi, 1(1), 1–19.
Basuki, Agus Tri dan Prawoto, N. (2016). Analisis Regresi Dalam Penelitian Ekonomi & Bisnis : Dilengkapi Aplikasi SPSS & EVIEWS. PT Rajagrafindo Persada.
Brigham, E. F., & Houston, J. F. (2018). Fundamental of Financial Management: Dasar-Dasar Manajemen Keuangan. Edisi 15. Cengage Learning.
Claudia Prananda, Ulysvashtien Utama, Ritaningsih, V. P. G. (2019). Faktor Penentu Struktur Modal Pada Perusahaan Keluarga Dan Nonkeluarga Di Indonesia. Jurnal Bisnis dan Akuntansi, 21(2), 179–194. https://doi.org/10.34208/jba.v21i2.622
Febriani, A. D., & Kristanti, F. T. (2019). Determinan Struktur Modal Perusahaan Infrastruktur, Utilitas, dan Transportasi. 3, 246–272.
Feng, Y., Hassan, A., & Elamer, A. A. (2020). Corporate governance, ownership structure and capital structure: evidence from Chinese real estate listed companies. International Journal of Accounting and Information Management. https://doi.org/10.1108/IJAIM-04-2020-0042
Ghozali, I., & Ratmono. (2017). Analisis Multivariat dan Ekonometrika dengan Eviews 10. Universitas Diponegoro.
Kasmir. (2012). Analisis Laporan Keuangan. PT Rajagrafindo Persada.
Khasanah, S., & Atiningsih, S. (2019). Pengaruh Strategi Diversifikasi, Risiko Bisnis Dan Kepemilikan Manajerial Terhadap Kinerja Keuangan Dengan Struktur Modal Sebagai Variabel Intervening. Journal of Management and Business, 2(1).
Kristanti, F. T., & Rahayu, S. (2018). Capital Structure and Performance due to Gender Diversity of CEOs in Indonesian Small & Medium-sized Business. International Journal of Engineering & Technology, 7(4.38), 920. https://doi.org/10.14419/ijet.v7i4.38.27609
Larasati, D., & Asrori, A. (2020). The Effect of Corporate Governance Mechanisms, Capital Structure and Firm Size on Risk Management Disclosure. Accounting Analysis Journal, 9(1), 60–66. https://doi.org/10.15294/aaj.v9i1.20956
Lestari, R. U., & Irianto, D. (2017). Faktor-Faktor Yang Mempengaruhi Struktur Modal Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia Tahun 2011-2015. Journal of Applied Managerial Accounting, 1(2), 164–178. https://doi.org/10.30871/jama.v1i2.504
Mangesti Rahayu, S., Suhadak, & Saifi, M. (2019). The reciprocal relationship between profitability and capital structure and its impacts on the corporate values of manufacturing companies in Indonesia. International Journal of Productivity and Performance Management, 69(2), 236–251. https://doi.org/10.1108/IJPPM-05-2018-0196
Mudjijah, S. (2019). Analysis of the Influence of Asset Structure and Sales Growth on Capital Structure and its Impact on Corporate Profitability. https://doi.org/10.4108/eai.20-1-2018.2281888
Nita Septiani, N. P., & Suaryana, I. G. N. A. (2018). Pengaruh Profitabilitas, Ukuran Perusahaan, Struktur Aset, Risiko Bisnis dan Likuiditas pada Struktur Modal. E-Jurnal Akuntansi, 22, 1682. https://doi.org/10.24843/eja.2018.v22.i03.p02
PwC. (2014). Survey Bisnis Keluarga 2014 Indonesia. www.pwc.com. https://www.pwc.com/id/en/publications/assets/indonesia-report-family-business-survey-2014.pdf
Rika Prihasti, P., & Andayani. (2018). Faktor-Faktor yang Mempengaruhi Struktur Modal Perusahaan Manufaktur di Bursa Efek Indonesia. Jurnal Ilmu dan Riset Akuntansi, 7(2).
Rubiyana, M., & Kristanti, F. T. (2020). Pengaruh Profitabilitas, Struktur Aktiva, Pertumbuhan Perusahaan, Risiko Bisnis Dan Aktivitas Perusahaan Terhadap Struktur Modal. BALANCE: Economic, Business, Management and Accounting Journal, 17(2), 32. https://doi.org/10.30651/blc.v17i2.4340
Sameh, J., & Hellara, S. (2018). Diversification, capital structure, and performance: A simultaneous equation approach. Managerial and Decision Economics, 39(2), 117–130. https://doi.org/10.1002/mde.2874
Sawitri, N. P. Y. R., & Lestari, P. V. (2015). Pengaruh Risiko Bisnis, Ukuran Perusahaan Dan Pertumbuhan Penjualan Terhadap Struktur Modal. E-Jurnal Manajemen Universitas Udayana, 4(5), 241587.
Sugiyono. (2015). Metode Penelitian Kombinasi (Mix Methods). Alfabeta.
Sugiyono. (2017). Metode Penelitian Kuantitatif, Kualitatif, dan R&D. Alfabeta.
Triyono, Kusumastuti, A., & Palupi, I. D. (2019). The Influence of Profitability, Assets Structure, Firm Size, Business Risk, Sales Growth, and Dividend Policy on Capital Structure. Riset Akuntansi dan Keuangan Indonesia, 4(3), 101–111. https://doi.org/10.23917/reaksi.v4i3.9340
Umaroh, A. D., & Muslih. (2019). Analisis Determinan yang mempengaruhi Struktur Modal (Studi Kasus pada Perusahaan Pertambangan yang Terdaftar di Bursa Efek Indonesia Periode 2014-2017). Universitas Telkom, S1 Akuntansi. https://openlibrary.telkomuniversity.ac.id/home/catalog/id/153435/slug/analisis-determinan-yang-mempengaruhi-struktur-modal-studi-kasus-pada-perusahaan-pertambangan-yang-terdaftar-di-bursa-efek-indonesia-periode-2014-2017-.html
Wairooy, M. A. (2020). Pengaruh Diversifikasi Operasional Dan Profitabilitas Terhadap Struktur Modal Pada. 2, 62–76.
Wiryani, D., & Mertha, I. (2016). Kepemilikan Manajerial Sebagai Pemoderasi Pengaruh Diversifikasi Operasional Pada Struktur Modal. E-Jurnal Akuntansi, 15(3), 2134–2160.
Zulkarnaen, W., Fitriani, I., & Yuningsih, N. (2020). Pengembangan Supply Chain Management Dalam Pengelolaan Distribusi Logistik Pemilu Yang Lebih Tepat Jenis, Tepat Jumlah Dan Tepat Waktu Berbasis Human Resources Competency Development Di KPU Jawa Barat. Jurnal Ilmiah MEA (Manajemen, Ekonomi & Akuntansi), 4(22), 222–243. https://doi.org/10.31955/mea.vol4.iss2.pp222-243
Published
2021-07-05
How to Cite
Zayani, S., & Kristanti, F. (2021). DETERMINAN STRUKTUR MODAL PERUSAHAAN FAMILY BUSINESS PADA INDEKS KOMPAS100. Jurnal Ilmiah Manajemen, Ekonomi, & Akuntansi (MEA), 5(2), 1080-1099. https://doi.org/10.31955/mea.v5i2.1207
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