Pengaruh Struktur Modal Terhadap Kinerja Perusahaan pada 50 Leading Companies in Market Capitalization di Bursa Efek Indonesia Tahun 2013-2018

Sandra Heliola, Dwi Fitrizal Salim, Ikaputera Waspada

Abstract


Tujuan penelitian ini untuk menguji bagaimana pengaruh struktur modal yang diwakili oleh rasio Debt to Equity Ratio (DER), Debt to Asset Ratio (DAR) serta Long Term Debt to Equity Ratio (LDER) terhadap kinerja perusahan yang ditunjukan oleh Return on Equity (ROE) pada 50 Leading Companies in Market Capitalization yang terdaftar pada Bursa Efek Indonesia tahun 2013-2017. Teknik pengambilan sampel menggunakan purposive sampling sehingga diperoleh 35 perusahaan yang terdaftar dalam 50 Leading in Market Capitaliztion BEI selama bertutut- turut selama periode tahun 2013-2017. Pengujian hipotesis menggunakan tekhnik analisis regeresi data panel.

Hasil dari penelitian ini adalah DER dan LDER secara parsial memiliki pengaruh positif dan signifikan terhadap ROE, sememtara DAR secara parsial tidak memiliki pengaruh signifikan terhadap ROE, serta secara simultan terdapat pengaruh yang signifikan antara DER, DAR, LDER terhadap ROE. Nilai Adjusted R square adalah 0.225 mengindikasikan bahwa 22.5% rasio struktur modal DER, DAR, LDER memperngaruhi return perusahaan, sedangkan sisanya sebesar 77.5% dipengaruhi oleh variable lain yang tidak diteliti dalam penelitian ini. Penelitian ini sejalan dengan penelitian yang dilakukan oleh Detthamrong et.al (2017) Das, C.P & Swain, S.K. (2018)


Keywords


Debt to Asset Ratio (DAR), Debt to Equity Ratio (DER), Long Term Debt to Equity Ratio (LDER), Return on Equity, Struktur Modal.

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