DETERMINAN STRUKTUR MODAL (STUDI PADA PERUSAHAAN MEDIA YANG TERDAFTAR PADA BURSA EFEK INDONESIA)

Abstract

The purpose of this study is used to determine empirically to determine empirically whether there is an effect of Growth Of Sales, Return On Assets (ROA), and Firm Size on Debt to Equity Ratio (DER) in media companies listed on the Indonesia Stock Exchange. The analytical tool used is multiple linear regression and hypothesis testing is used to test the regression coefficient partially and simultaneously with a confidence level of 5%.

The results showed that the variable Growth of Sales, Return on Assets, and Firm size had an influence on DER, but of these three variables, the Growth of Sales variable had a dominant influence on DER. Meanwhile, from the results of the partial test, it was found that the Growth of Sales variable had no significant positive effect on DER, the Return On Asset (ROA) variable had no significant negative effect on DER, and the Firm Size variable had a significant negative effect on DER. From the analysis, it is also found that the variables Growth of Sales, Return On Asset (ROA), and Firm Size simultaneously have a significant (significant) influence on DER. The result of Adjusted R Square for media companies listed on the IDX in 2009-2013 is 0.301, this means that 30.1% of the variation of the debt to equity ratio can be explained by variations of the three independent variables, namely 30.1%. 9 percent is influenced by other factors not carried out in this study.