The Influence of Profitability, Liquidity and Business Risk on Capital Structure
Abstract
The purpose of this study is to analyze the effect of profitability, liquidity, and business risk on the capital structure of property and real estate sub-sector companies listed on the Indonesia Stock Exchange during the 2018-2022 period. Profitability is measured using Return on Assets (ROA), liquidity is measured using the Current Ratio (CR), business risk is measured using the Basic Earning Power Ratio (BEPR) and Capital Structure using Dept to Equity (DER). The method used in this study is quantitative with multiple linear regression analysis techniques to test the hypothesis. The results showed that ROA had a significant effect on DER, CR had an insignificant effect on DER, and BEPR had a significant effect on DER. Simultaneously, ROA, CR and BEPR had an effect on DER. The coefficient of determination obtained showed that the influence of ROA, CR and BEPR was 49.9% and the remaining 50.1% was influenced by other factors..
References
Anik dan Putu. 2019. Manajemen Keuangan Pengelolaan Bisnis. Badung: CV Noah Aletheia.
Aris dkk. 2019. Pengaruh Risiko Bisnis Terhadap Struktur Modal pada Perusahaan Pabrik Kertas PT Tjiwi Kimia Tbk Periode 2013-2018. Jurnal Manajemen dan Keuangan Vol 7 No 2.
Bhuwanatala indah permai Tbk https://www.bipp.co.id
Binakarya jaya abadi Tbk https://bpg.id
Buchari, I. 2021. The Impact of Capital Structure and Profitability on The Value of The Firms in Properti, Real Estate and Building Construction Sector. Business Management Journal Vol 17 No 2.
Bukit darmo property Tbk http://www.bukitdarmoproperty.com
Bumi citra permai Tbk https://bumicitrapermai.com
Cahayasakti investindo sukses Tbk https://www.csis.co.id
Desty W. dan Endang D. 2017. Pengaruh Profitabilitas,kepemilikan manajerial, kepemilikan institusional dan Resiko Bisnis terhadap Struktur Modal. Jurnal ilmu dan riset akuntansi Vol 6 No 3.
Duta pertiwi Tbk https://www.dutapertiwi.com
Eiva dkk. 2022. Pengaruh profitabilitas, ukuran perusahaan, struktur aktiva dan resiko bisnis terhadap struktur modal pada perusahaan manufaktur sektor makanan dan minuman yang terdaftar di BEI periode 2017-2018. Jurnal sinar manajemen Vol 9 No 2.
Ekayanti dkk. 2023. Metodologi Penelitian Kesehatan. Makassar: Rizmedia Pustaka Indonesia.
Erdian Ade P, 2021. Pengaruh Profitabilitas, Likuiditas, dan Resiko Bisnis terhadap Struktur Modal perusahaan. Jurnal ilmu dan riset akuntasni e-ISSN 2460-0585.
Eva. 2020. Suatu Pengantar Metode dan Riset Desain Komunikasi Visual. Sleman: Deepublish.
Fortune mate indonesia Tbk https://www.fmiindo.com
Gowa makasar tourism development https://www.tanjungbunga.com
Hartina. 2024. Pengaruh profitabilitas, likuiditas, struktur aset, resiko bisnis dan ukuran perusahaan terhadap struktur modal perusahaan property dan real estate di BEI tahun 2014-2022. Jurnal manajemen bisnis dan organisasi (JUMBO) Vol 8 No 1.
https://sahamee.com/
https://www.idx.co.id
Indonesia prima property Tbk https://www.ipp.co.id
Indonesian paradise property Tbk https://paradiseindonesia.com
Indriani & monica. 2023. Pengaruh likuiditas dan profitabilitas terhadap struktur modal perusahaan telekomunikasi yang terdaftar do BEI periode 2015-2020. Jurnal universitas islam nusantara.
Irphan dkk. 2023. Konsep Manajemen Keuangan Islam. Solok: PT Mafy Media Literasi Indonesia.
Kiki dkk. 2023. Manajemen Keuangan Perusahaan. Serang: Sada Kurnia Pustaka.
Mega manunggal property Tbk https://mmproperty.com
Megapolitan Developments Tbk https://www.megapolitan-group.com
Melinda R. dan Farida T. 2020. Pengaruh profitabilitas, struktur aktiva, pertumbuhan perusahaan, resiko bisnis dan aktivitas perusahaan terhadap struktur modal. Jurnal akuntansi Vol XVII No 2.
Metro realty Tbk https://ptmetrorealty.co.id
Metropolitan kentjana Tbk https://pondokindahgroup.co.id
Nengsih dan Yanti. 2020. Pengaruh Profitabilitas, Resiko Bisnis dan Likuiditas dan Tangibility Terhadap Struktur Modal. Jurnal Multiparadigma Akuntansi Tarumanagara Vol 2 No 1.
Ni putu Y. dan Made R. 2019. Pengaruh profitabilitas, struktur aktiva dan likuiditas terhadap struktur modal perusahaan subsektor kontruksi di bursa efek indonesia. E-jurnal manajemen Vol 8 No 7.
Nur dkk. 2022. Manajemen Keuangan. Padang: PT Global Eksekutif Teknologi.
Nurul qosidah & fitri romadhon. 2021. Pengaruh likuiditas, struktur aktiva dan resiko bisnis terhadap struktur modal (studi empiris pada perusahaan property dan real estate di BEI). Jurnal akuntansi Vo. 13 N0 1.
Oki dkk. 2020. Pengaruh profitabilitas, likuiditas, dan struktur aktiva terhadap struktur modal pada perusahaan manufaktur yang terdaftar di BEI periode 2015-2017. Jurnal of economic, business and accounting Vol 4 No 1.
Pikko land Development Tbk https://pikkoland.com
Rina sulistyowati (2022). Pengaruh resiko bisnis, profitabilitas, likuiditas, ukuran perusahaan, pertumbuhan penjualan terhadap struktur modal perusahaan manufaktur sub sektor industri dasar dan bahan kimia yang terdaftar di BEI periode 2017-2020. Jurnal ilmiah akuntansi dan teknologi Vol 14 No 1.
Setiawati M. dan Veronica E. 2020. Pengaruh profitabilitas, struktur aset, ukuran perusahaan, Resiko bisnis, pertumbuhan penjualan, pertumbuhan perusahaan, likuiditas terhadap struktur modal pada perusahaan sektor jasa (periode 2016-2018). Jurnal akuntansi Vol 12 No 2.
Silvia, I. 2021. Analisis Rasio Keuangan Sebagai Alat Ukur Kinerja Keuangan Perusahaan Kidung di Kecamatan Sukorejo. Jurnal Ekonomi, Manajemen dan Akuntansi Vol 5 No 2.
Star pacific Tbk https://www.star-pacific.co.id
Suryamas dutamakmur Tbk https://www.rancamaya.co
Timbangnusa & untu. 2013. Pengaruh profitabilitas dan ukuran perusahaan terhadap struktur modal tahun 2016-2020 ( pada sektor pertambangan yang terdaftar di bursa efek indonesia). Jurnal EMBA Vol 11 No 1.
Wendy A. 2022. Pengaruh likuiditas, struktur aktiva dan profitabilitas terhadap struktur modal. Jurnal cendekia keuangan Vol 1 No 1.
Wildana. 2019. Buku Sakti Pengantar Akuntansi. Jakarta: Anak Hebat Indonesia.
Yurike dkk. 2017. Pengaruh ukuran perusahaan, profitabilitas dan struktur aktiva perusahaan struktur modal perusahaan (studi pada perusahaan sektor dasar dan kimia yang terdaftar di Bei tahun 2017-2021). Jurnal forum bisnis dan kewirausahaan sinta 4 Vol 12 No 2.
Open Access
IDEA (International Development of Economics and Administration Journal) is a national peer reviewed and open access journal that publishes significant and important research from all area of Development of Economics and Administration.
This journal provides immediate open access to its content that making research publish in this journal freely available to the public that supports a greater exchange of knowledge.
Copyright
Submission of a manuscript implies that the submitted work has not been published before (except as part of a thesis or report, or abstract); that it is not under consideration for publication elsewhere; that its publication has been approved by all co-authors. If and when the manuscript is accepted for publication, the author(s) still hold the copyright and retain publishing rights without restrictions. Authors or others are allowed to multiply article as long as not for commercial purposes. For the new invention, authors are suggested to manage its patent before published. The license type is CC-BY-SA 4.0.
Disclaimer
No responsibility is assumed by publisher and co-publishers, nor by the editors for any injury and/or damage to persons or property as a result of any actual or alleged libelous statements, infringement of intellectual property or privacy rights, or products liability, whether resulting from negligence or otherwise, or from any use or operation of any ideas, instructions, procedures, products or methods contained in the material therein.