KARAKTERISTIK PERUSAHAAN DAN RISIKO BISNIS TERHADAP STRUKTUR MODAL PADA PERUSAHAAN OTOMOTIF
Program D-3 Keuangan dan Perbankan Universitas Merdeka Malang
Jl. Terusan Dieng No. 62-64 Malang, 65146.
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The company financial management should be able to meet the needs of the funds that would be used to operate or expand their businesses. Financing the use of corporate funds was faced to a choice: debt or raise capital with the level of consequence risk of each. Consideration of a company was choosing the source of funds in an efficient and profitable enterprise for both current and for the foreseeable future. It considered that the choice of the source of the funds would have an impact on corporate performance in the future, namely funding responsibility of the company. The objective of this study was to analyze the influence of company characteristics and business risk significantly influenced capital structure, to determine the effect of the variable characteristics of companies and business risk simultaneously on the company’s capital structure, to determine the variables of company characteristics and business risk simultaneously toward the company capital structure, to know the variables that had most dominant impact toward capital structure. The results of the analysis showed the intensity of DOL assets, sales growth, profitability (ROA) affected the company’s capital structure, while the variable of ROA had dominant contribution. Free variables simultaneously affected the capital structure.
Key words: capital structure, the intensity of the assets, sales growth structure, profitability.