STRUKTUR KEPEMILIKAN, PROFITABILITAS, DAN RISIKO PERUSAHAAN TERHADAP STRUKTUR MODAL DAN
Pius Bumi Kellen
Fakultas Ilmu Sosial dan Ilmu Politik Universitas Nusa Cendana
Jl. Adisucipto-Pentui, Kupang, NTT, 85000.
Telp. +62 380 881 183
This study aimed to examine and analyze the effect of ownership structure, corporate growth, corporate profitability and risk of capital structure as well as the influence of four determinants and capital structure on firm value. Originality of this study was the addition of risk variables with indicator accounting firm beta. The study used panel data namely merging cross-section (36 companies) and time series data (5 years) sourced from secondary data analysis with 180 units. Analysis of data used a model of Partial Least Square (PLS). The study found that ownership structure did not have significant negative effect on capital structure and significant impact on corporate value. The company growth did not have significant negative effect on capital structure and corporate value. Profitability did not have significant positive effect on capital structure and it had significant impact on corporate value. Corporate risk had a positive effect, no significant effect on capital structure and corporate value, capital structure and it had a significant negative effect on firm value.
Key words: ownership structure, profitability, corporate risk, capital structure, corporate value