PENGARUH PROFITABILITAS, LIKUIDITAS, DAN STRUKTUR ASET TERHADAP STRUKTUR MODAL DENGAN UKURAN PERUSAHAAN SEBAGAI VARIABEL MODERASI PADA PERUSAHAAN SEKTOR KELAUTAN YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2016-2019

Abstract

The purpose of this resarch was determine the influence profitability, liquidity, asset structure with firm size as a moderating variabel in maritime companies listed on the Indonesia Stock Exchange in 2016-2019. The sampling method of this research is purposive sampling and obtained as many as 9 sampel that met the criteria of 32 companies which were observational data. The analysis technique used in this research is moderated regression analysis. The results of this study indicate that the profitability, liquidity partially affect the capital structure measured using Debt to Equity Ratio (DER). Asset structure has no effect the capital structure measured using Debt to Equity Ratio (DER). While the size of the company has a postive effect on the capital structure measured using Debt to Equity Ratio (DER). Firm size insignificantly weaken the effect of profitability, liquidity on capital structure and firm size significantly strengthens the effect of asset structure on capital structure. The test result of the coefficient of determination indicate that the independent variables, moderating variables and interactions of the two variables are only able to explain the dependent variable by 57% while the remaining 43% is explained by other variables not explained in the study.