STRUKTUR PERUSAHAAN DAN PROFITABILITAS
PADA INDUSTRI REAL ESTATE DAN PROPERTY DI INDONESIA
Fadjar O.P. Siahaan
Universitas Kebangsaan Bandung
Jl. Terusan Halimun No.37 Bandung, 40263.
Korespondensi dengan Penulis:
Fadjar O.P.Siahaan: Telp. +62 22 972 1999; Fax. +62 22 934 434 52
Real estate & property industry was a sector which had difficult characteristics to predict and high risk. When Economy growth was high, it was booming and tended to be over supplied and the main capital was generally got through bank loans. The purpose of this research was to analyze the impact of firm structure consisting of the firm size, firm age, capital structure, and stock ownership toward profitability measured using ROI and ROE. The sample was selected using purposive sampling with 120 observations from 52 real estate & property companies listed in Indonesian Stock Exchange in 2009 – 2011. By using multiple regression, the result of this research showed that (1) firm size had positive significant effect on ROI and ROE; (2) firm age had negative significant effect on ROI but it did not have significant effect on ROE; (3) capital structure had positive significant effect on ROE but did not have significant effect on ROI; (4) public ownership had negative significant effect on ROI and ROE.
Key words: capital structure, firm size, firm age, public ownership, return on equity (ROE), return on investment (ROI)