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PENGARUH UKURAN PERUSAHAAN, PROFITABILITAS, DAN PERTUMBUHAN ASET TERHADAP STRUKTUR MODAL PADA PERUSAHAAN PROPERTI DI BEI
ABSTRACT
This research aimed to find out the effect of firm size, probability, and asset growth on the capital structure. According to the criteria given, there were 27 Property companies 2013-2017. While, the sampling collection technique used purposive sampling. Based on the data analysis, capital structure (DER) was dependent variable and firm size (UP), profitability (ROA), asset growth (AG) were independent variable. Moreover, the research result concluded the firm size had positive and significant effect on capital structure. It meant, the larger the firm size, the bigger chance of using external funds and issuing shares would be. Furthermore, profitability had negative and significant effect on capital structure. This indicated the company used its profit to pay company capital cost. On the other hand, the asset growth had positive but insignificant effect on the capital structure. In other words, the increase of growth asset did not affect on the capital structure. Therefore, the Property company needed to consider how big or small the firm size before having policy of its capital structure. It meant, the company had to focus on the profitability which had been made, since the higher the firm profile, the more internal funds would be spent to pay the capital cost or its operational. In brief, the asset growth had to be considered although it did not affect on the capital structure.
Keywords: firm size, profitability, asset growth, capital structure
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