Pengaruh Profitabilitas, Pertumbuhan Penjualan, Likuiditas, dan Risiko Bisnis terhadap Struktur Modal dengan Ukuran Perusahaan sebagai Variabel Moderasi pada Perusahaan Sektor Perkebunan Kelapa Sawit di Bursa Efek Indonesia

Abstract

This research aims to analyze the influence of profitability, sales growth, liquidity and business risk on capital structure in companies in the Palm Oil Plantation sector on the IDX. Apart from that, this research also aims to find out whether company size can moderate this model. The research design uses a casual comparative research design, namely investigating possible cause-and-effect relationships using a quantitative approach. The data used is secondary data obtained from 12 plantation sector companies for the period 2017 to 2022. The analysis technique used is panel data regression analysis and interaction tests (moderation tests) which are analyzed using the software Eviews version 10. The results of the research show that sales growth , liquidity and business risk influence the capital structure, while profitability has no influence on the capital structure. Company size moderates business risk on capital structure. However, company size can not moderate profitability, sales growth and the level of liquidity on capital structure.