Update Artikelilmiah: 14938

RIZKA WULANDARI

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Abstrak (Bhs. Indonesia)

Penelitian ini merupakan studi empiris yang dilakukan di Bursa Efek Indonesia periode 2012-2014. Penelitian ini berjudul: “Analisis Pengaruh Profitabilitas, Ukuran Perusahaan, Likuiditas, Free Cash Flow, dan Resiko Bisnis Terhadap Struktur Modal Pada Perusahaan Sektor Industri Consumer Goods di BEI”. Tujuan penelitian adalah untuk mengetahui pengaruh Profitabilitas, Ukuran Perusahaan, Likuiditas, Free Cash Flow, dan Resiko Bisnis terhadap Struktur Modal pada perusahaan sektor industri consumer goods di BEI.
Penelitian ini menggunakan analisis regresiberganda sebagai alat pengujian hipotesis. Populasi dalam penelitian ini adalah semua perusahaan sektor industri consumer goods yang terdaftar di BEI, dengan menggunakan metodesampel purposive sampling.
Hasil penelitian didapatkan: (1) Profitabilitas berpengaruhpositif terhadap Struktur Modal; (2) Ukuran Perusahaan tidak berpengaruh terhadap Struktur Modal; (3) Likuiditas berpengaruh negatif terhadap Struktur Modal; (4) Free Cash Flowtidak berpengaruh terhadap Struktur Modal; (5) Risiko Bisnis berpengaruh negatif terhadap Struktur Modal.
Implikasi dari kesimpulan diatas yaitu pihak manajemen perlu mempertimbangkan proporsi hutang dan ekuitas dalam struktur modal. Upaya yang dapat dilakukan yaitu meningkatkan laba bersih dengan mempertimbangan penjualan, penggunaan aktiva, maupun penggunaan modal sendiri. Pihak manajemen dapat meningkatan modal khususnya pada aktiva yang memiliki tingkat likuiditas tinggi dan produktif.Investor perlu mempertimbangkan informasi tentang pengelolaan asset, pengalokasian modal, maupun resiko dari sumber modal, karena hal tersebut bisaberdampakpadareturn yang dibagikanpada investor.

Abtrak (Bhs. Inggris)

This research is an empirical study on Indonesia Stock Exchange (BEI) at period 2012-2014. The research entitled “Analysis of Profitability, Firm Size, Liquidity, Free Cash Flow, and Business Risk toward Capital Structure of Consumer Goods Industry Sector Firm at Indonesia Stock Exchange (BEI)”. The aims of this research were to determine the effect of Profitability, Firm Size, Liquidity, Free Cash Flow, and Business Risk against Capital Structure of consumer goods industry sector firm at Indonesia Stock Exchange (BEI).
This research used multiple regression model as a means of testing the hypothesis. Population in this study was all of consumer goods industry firm,using purposive sampling as a sampling method.
The result of this research indicates that: (1) Profitability have positively and significantly effect toward Capital Structure; (2) Firm Size had no significant effect toward Capital Structure; (3) Liquidity have negatively and significantly effect toward Capital Structure; (4) Free Cash Flow had no significant effect toward Capital Structure; (5) Business Risk have negatively and significantly effect toward Capital Structure on consumer goods sector firm that listed in BEI 2012-2014 period.
The implications of the conclusion is the management needs to consider the proportion of debt and equity that will be used in capital structure. Efforts that can be done for example by increasing its net income by considering the sale, use of assets, as well as use their own capital. Management may seek a capital increase, especially on assets that have a high level of liquidity and productive. Investors should consider the information about asset management, capital allocation and risk arising from the use of capital resources, because it could have an impact on the return that will be distributed to investors.

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