Analisis Struktur Modal dan Pengaruhnya terhadap Profitabilitas Perusahaan Consumer Goods yang Go Publik di Bursa Efek Jakarta

Abstract

Financial function represent one of the important function in corporate activity. Managing financial function represent matter which need to be paid attention, especially concerning company capital structure. Because decision about source of company financing will influence company profitability. Formulation of this research internal issue is "How capital structure influence that is debt to Asset Ratio (DAR), Long-term Debt to Asset Ratio (LOAR), Equity to Asset Ratio (EAR) and Debt to Equity Ratio (DER) by together to profitability company of Consumer goods which Go Public in Jakarta Stock Exchange" and "from dominant capital structure have an effect on to profitability company of Consumer Goods which Go Public in Jakarta Stock Exchange." This research aim to know debt to Asset Ratio influence (DAR), Longterm Debt to Asset Ratio (LOAR), Equity to Asset Ratio (EAR) and Debt to Equity (DER) to Profitability (ROE) at Company of Consumer Goods Which Go Public in Jakarta Stock Exchange. Hypothesis in this research is "capital structure (Debt To Asset Ratio (DAR), Long-term Debt to Asset Ratio (LOAR), Equity to Asset Ratio (EAR) and Debt to Equity Ratio (DER) by together not have an effect on significant to profitability company of Consumer Goods which Go Public in Jakarta Stock Exchange" and "there no variable having an effect on dominant to company profitability". Amount of sample used for this analysis is counted 38 Company of Consumer Goods which Go Public in Jakarta Stock Exchange with the each company taken by its data counted 5 (five) year, that is year 1998, 1999, 2000, 2001 and 2002. writer use technique withdrawal of sample with census method. To know DAR variable influence, LOAR, EAR and DER to profitability (ROE) at company of Consumer Goods which Go Public in Jakarta Stock Exchange, used by Doubled Linear Regression analysis which assisted by means of test SPSS version 11,0 used by Analysis technique Doubled Linear Regression analysis. To test hypothesis used by F test and t test trust level 95%. V Through F test seen F count equal to 14,652 bigger than F of tables of equal to this 2,37 matter indicate that DAR, LDAR, EAR and DER by together have an effect on significant to profitability (ROE) at company of Consumer Goods which Go Public in Jakarta Stock Exchange. By partial debt Equity to variable is dominant variable. Coefficient Adjusted R Square result of regression equal to 0,224. This matter indicate that free variable variation that is DAR, LDAR, EAR and DER can explain 22,4 % to variable tied of that is profitability (ROE), while the rest equal to 77,6 % explained by other free variable which not check.