Pengaruh Struktur Modal terhadap Kinerja Keuangan pada Perusahaan lndustri Manufaktur di Bursa Efek Jakarta

Abstract

Financiai function represent one of the imporiai:ii functio11 u1 ~u1μu1c1i~ activity. Managing financial function represent matter which need to be paid atieniion, especi.aiiy concerning capitai S"uuciur. Bicawse d~ision aboui somce of company will influence financial performance. rne purpose ofthis research is to analysis and to know the influence of the capital structure: Long-term debt to equity, Degree of operating Leferage and Degree of financial ieverage. On the copany,s financial performance which is measured on the basis of economic value added (EV A) in a simultaneous and μcU.tiai way. The population of this research are the campeniy ,s manufacturing listed in the Jakarta Stock Exchange (JSX). Amount of sample used for this research is conted 89 campenys, with the each company taken by conted 4 year, that is year 2001-2004. Writer use technique with drawal of sample is the census method. The analysis method used is the multiple linier regression wich analysis assisted by means of test SPSS version 12,0, to test hypothesis used by F test and t test wich trust level 95%. The research result and the examination of the hypothesis show that simultaneously the capital structure has siqnifikant influence on the company's financial performance measured with the economic value added. The research result and the examination of the hypothesis show that partial olso has siqnifikant influence on the company's financial performance. And thend the Degree of financial leverage to variable is dominant. The value of the determination coefficient amounting to 88,0 % shows that the capital structur contributes amounting 88,0 % for the campeny's Financial Performance measured with the economic value added and 12,0% is related to other variables that are not included in this research.