Pengaruh Pertumbuhan Perusahaan, Kebijakan Deviden dan Profitabilitas Terhadap Struktur Modal Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia
This research is aim to test and describe whether the company growth, dividend policy and profitability influence manufactures capital structure in Indonesian Stock Exchange. Company growth is indicated to Tobin-q value, Dividend policy is indicated to Dividend Payout Ratio (DPR), Profitability is indicated to Return On Equity (ROE), and Capital Structure is indicated to Debt to Equity Ratio (DER). This research population is all manufacture entities which have been listed in Indonesian Stock Exchange during the year 2006 to 2008. The sample selection is using purposive sampling method and the result is thirty three entities as being the samples. This research variable consists of Tobin-q, Dividend Payout Ratio (DPR) and Return On Equity (ROE) as independent variables, and Debt to Equity Ratio (DER) as dependent variable. Descriptive Statistic method is used in this research by taking regression. SPSS computer programme is used to test in this research. The result indicates that partially Tobin-q, DPR and ROE unsignificantly influence the DER. If tested simultaneously Tobin-q, DPR and ROE significantly influence the DER. Which is showed by 0,08 of the R Square value, that means 8 % variation from the DER change which can be explained by all independent variables, meanwhile, the remainder 92% explained by other variation factors which not include in regression model.
Year of publication: |
2010-06-11
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Authors: | Sinurat, Laurdes |
Other Persons: | Ismail, Mutia (contributor) |
Subject: | Pertumbuhan Perusahaan | Kebijakan Deviden | Profitabilitas | Struktur Modal | Tobin-q | Dividend Payout Ratio (DPR) | Return On Equity (ROE) | Debt to Equity Ratio (DER) |
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