Aif Munafiroh, 7211418005 (2022) PENGARUH PROFITABILITAS, PERTUMBUHAN PENJUALAN, STRUKTUR AKTIVA DAN KEBIJAKAN HUTANG TERHADAP STRUKTUR MODAL. Under Graduates thesis, Universitas Negeri Semarang.

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Abstract

Capital structure is a comparison between own capital and foreign capital. Capital structure is also referred to as a combination of capital owned by the company with capital obtained from outside the company. The capital structure is an important part of the company, because the company’s progress is determined by its capital. A good capital structure is the optimal capital structure, to determine the optimal capital structure the company must know the factors that affect the capital structure. This study aims to analyze the effect of profitability, sales growth, assets structure and debt policy on capital structure. The population of this study there are property and real estate companies listed on the Indonesia Stock Exchange during 2017-2020 with a total of 79 companies. This study uses a purposive sampling method and 99 units of analysis were selected. Data collection techniques were carried out by documentation and literature study. The analysis method used in this research is multiple linear regression analysis. The result oh the study prove that the profitability has no effect on capital structure. Sales growth has no effect on capital structure, and assets structure has no effect on capital structure. Meanwhile, debt policy has a positive and significant effect on capital structure. The conclusion of this study is that profitability, sales growth and assets structure have no significant effect on capital structure, while debt policy has a positive and significant effect on capital structure.Suggestions for further research is to replace the independent variable of debt policy because the variable of debt policy has a strong relationship with capital structure, so it can be ascertained that the results of the study will have a significant effect on capital structure. Further research is also expected to increase the number of samples and extend the research period.

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