Effect of Current Ratio, Return on Equity, Managerial Ownership, Sales Growth, and Asset Structure on Capital Structure in Retail Trade Companies Listed on the Indonesia Stock Exchange for the 2016-2020 Period

Siti Dini, Vanessa Vanessa, Juvina Juvina

Abstract


The purpose of this test and analysis is to determine effect of current ratio, return on equity, managerial ownership, sales growth, and asset structure on capital structure in Retail Trade Companies listed on the Indonesia Stock Exchange for the 2016-2020 period. The method used is a quantitative approach. This population chose the Retail Trade Companies listed on the Indonesia Stock Exchange for the 2016-2020 period. In order to obtain the sample to be studied, purposive sampling technique was used. The total number of samples obtained were 7 issuers of the Retail Trade Companies listed on the Indonesia Stock Exchange for the 2016-2020 period. This research strategy uses multiple linear regression technique. Multiple linear regression technique consists of partial test (t), simultaneous test (F), and coefficient of determination test (R2). The results of partial test (t) show that current ratio and return on equity have a significant effect on capital structure. Meanwhile, managerial ownership, sales growth, asset structure have no a significant effect on capital structure. Simultaneous test results (F) show that current ratio, return on equity, managerial ownership, sales growth, and asset structure have a significant effect on capital structure. The results of the coefficient of determination test (R2) show that adjusted r square value of 0.820 means that capital structure is explained through the independent variables of 82 percent and the remaining 18 percent of capital structure is explained from other variables that are not included in this regression.


Keywords


current ratio; return on equity; managerial ownership; sales growth; asset structure; capital structure

Full Text:

PDF

References


Andika, Kadek Rico & Sedana, Ida Bagus Panji. (2019). Pengaruh Profitabilitas, Struktur Aktiva, dan Ukuran Perusahaan Terhadap Struktur Modal. E-Jurnal Manajemen, 8(9), 58035824.

Asyraini, Siti, Fristy, Poppy, Octiva, Cut Susan, Nasution, M. Hafiz Akbar, & Nursidin, M. (2022). Peningkatan Kesadaran Protokol Kesehatan di Masa Pandemi Bagi Warga di Desa Selamat Kecamatan Biru-biru. Jurnal Pengabdian Kontribusi (Japsi), 2(1), 33-36.

Awaluddin, Murtiadi. (2019). Perbandingan Pengaruh Return on Asset, Pertumbuhan Aset, Pertumbuhan Penjualan, dan Managerial Ownership Terhadap Struktur Modal Perusahaan Multinasional dan Domestik di BEI. Jurnal Minds: Manajemen Ide dan Inspirasi, 6(1), 113-128.

Batubara, Riski Ayu Pratiwi. (2017). Pengaruh Struktur Aktiva, Ukuran Perusahaan, dan Profitabilitas Terhadap Struktur Modal (Studi Pada Perusahaan Makanan dan Minuman yang Terdaftar di Bursa Efek Indonesia Tahun 2012-2015). Jurnal Administrasi Bisnis (JAB), 50(4), 1-9.

Carnevela, Cindy Rosa. (2017). Pengaruh Pertumbuhan Penjualan, Ukuran Perusahaan, dan Struktur Aktiva Terhadap Struktur Modal. Jurnal Ilmu dan Riset Manajemen, 6(3), 1-17.

Effendi, Marwan. (2018). Return on Assets, Likuiditas, dan Ukuran Perusahaan Terhadap Struktur Modal. AGREGAT: Jurnal Ekonomi dan Bisnis, 2(1), 44-54.

Melodie, Novelia & Ruslim, Herman. (2019). Pengaruh Profitabilitas, Struktur Aktiva, dan Ukuran Perusahaan Terhadap Struktur Modal. Jurnal Manajerial dan Kewirausahaan, 1(2), 297-306.

Miraza, Chairanisa Natasha & Muniruddin, Said. (2017). Pengaruh Kepemilikan Institusional, Kepemilikan Manajerial, Variabilitas Pendapatan, Corporate Tax Rate, dan Non Debt Tax Shield Terhadap Struktur Modal pada Perusahaan Manufaktur yang Terdaftar di BEI Tahun 2011-2015. Jurnal Ilmiah Mahasiswa Ekonomi Akuntansi (JIMEKA), 2(3), 73-85.

Noviandini & Welas. (2017). Pengaruh Current Ratio, Return on Asset, dan Total Asset Turnover Terhadap Struktur Modal pada Perusahaan Publik Sub Sektor Makanan dan Minuman Periode 2011-2015. Jurnal Akuntansi dan Keuangan, 6(1), 1-19.

Novitasari, Cahyaning. (2017). Faktor–faktor yang Mempengaruhi Struktur Modal Perusahaan Manufaktur. Jurnal Ilmu dan Riset Akuntansi, 6(7), 1-21.

Octiva, Cut Susan. (2018). Pengaruh Pengadukan pada Campuran Limbah Cair Pabrik Kelapa Sawit dan Tandan Kosong Kelapa Sawit terhadap Produksi Biogas. Tesis. Medan: Fakultas Teknik, Program Studi Teknik Kimia, Universitas Sumatera Utara.https://repositori.usu.ac.id/bitstream/handle/123456789/12180/157022002.pdf?sequence=1&isAllowed=y.

Octiva, C. S., Irvan, Sarah, M., Trisakti, B., & Daimon, H. (2018). Production of Biogas from Co-digestion of Empty Fruit Bunches (EFB) with Palm Oil Mill Effluent (POME): Effect of Mixing Ratio. Rasayan J. Chem., 11(2), 791-797.

Octiva, Cut Susan, Indriyani, & Santoso, Ari Beni. (2021). Effect of Stirring Co-digestion of Palm Oil and Fruith for Biogas Production to Increase Economy Benefit. Budapest International Research and Critics Institute-Journal, 4(4), 14152-14160. DOI: https://doi.org/10.33258/birci.v4i4.3521.

Pandia, S., Tanata, S., Rachel, M., Octiva, C., & Sialagan, N. (2018). Effect of Fermentation Time of Mixture of Solid and Liquid Wastes from Tapioca Industry to Percentage Reduction of TSS (Total Suspended Solids). IOP Conference Series: Materials Science and Engineering, 309, 012086. DOI: 10.1088/1757-899X/309/1/012086.

Pandiangan, Saut Maruli Tua. (2015). Analisis Lama Mencari Kerja Bagi Tenaga Kerja Terdidik di Kota Medan. Skripsi. Medan: Fakultas Ekonomi dan Bisnis, Program Studi Ekonomi Pembangunan, Universitas Sumatera Utara. https://www.academia.edu/52494724/Analisis_Lama_Mencari_Kerja_Bagi_Tenaga_Kerja_Terdidik_di_Kota_Medan.

Pandiangan, Saut Maruli Tua. (2018). Analisis Faktor-faktor yang Mempengaruhi Penawaran Tenaga Kerja Lanjut Usia di Kota Medan. Tesis. Medan: Fakultas Ekonomi dan Bisnis, Program Studi Ilmu Ekonomi, Universitas Sumatera Utara. http://repositori.usu.ac.id/bitstream/handle/123456789/10033/167018013.pdf?sequence=1&isAllowed=y.

Pandiangan, Saut Maruli Tua, Rujiman, Rahmanta, Tanjung, Indra I., Darus, Muhammad Dhio, & Ismawan, Agus. (2018). An Analysis on the Factors which Influence Offering the Elderly as Workers in Medan. IOSR Journal of Humanities and Social Science (IOSR-JHSS), 23(10), 76-79. DOI: 10.9790/0837-2310087679. http://www.iosrjournals.org/iosr-jhss/papers/Vol.%2023%20Issue10/Version-8/K2310087679.pdf.

Pandiangan, Saut Maruli Tua, Resmawa, Ira Ningrum, Simanjuntak, Owen De Pinto, Sitompul, Pretty Naomi, & Jefri, Riny. (2021). Effect of E-Satisfaction on Repurchase Intention in Shopee User Students. Budapest International Research and Critics Institute-Journal, 4(4), 7785-7791. DOI: https://doi.org/10.33258/birci.v4i4.2697.

Pandiangan, Saut Maruli Tua, Oktafiani, Fida, Panjaitan, Santi Rohdearni, Shifa, Mutiara, & Jefri, Riny. (2022). Analysis of Public Ownership and Management Ownership on the Implementation of the Triple Bottom Line in the Plantation Sector Listed on the Indonesia Stock Exchange. Budapest International Research and Critics Institute-Journal, 5(1), 3489-3497. DOI: https://doi.org/10.33258/birci.v5i1.4016.

Pandiangan, Saut Maruli Tua. (2022). Effect of Packaging Design on Repurchase Intention to the Politeknik IT&B Medan Using E-Commerce Applications. Journal of Production, Operations Management and Economics (JPOME), 2(1), 15–21. http://journal.hmjournals.com/index.php/JPOME/article/view/442.

Paramitha, Ni Nyoman & Putra, I Nyoman Wijana Asmara. (2020). Pengaruh Struktur Aktiva, Likuiditas, Pertumbuhan Penjualan, dan Risiko Bisnis terhadap Struktur Modal. E-Jurnal Akuntansi, 30(11), 2753-2766

Prasetyo, Giovanni Osvald Eko & Hadiprajitno, Paulus Basuki. (2019). Analisis Pengaruh Tata Kelola Perusahaan dan Struktur Kepemilikan Terhadap Struktur Modal (Studi Empiris pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Tahun 2015-2017). Diponegoro Journal of Accounting, 8(3), 1-12.

Prastika, Ni Putu Yulinda & Candradewi, Made Reina. (2019). Pengaruh Profitabilitas, Struktur Aktiva, dan Likuiditas Terhadap Struktur Modal Perusahaan Subsektor Konstruksi Bangunan di BEI. E-Jurnal Manajemen, 8(7), 4444-4473.

Sunhaji. (2019). Pengaruh Current Ratio, Return on Equity dan Sales Growth Terhadap Struktur Modal pada Perusahaan Manufaktur di Bursa Efek Indonesia (BEI) (Studi Empiris pada Perusahaan Manufaktur Industri Logam dan Mineral yang Terdaftar di Bursa Efek Indonesia (BEI) Periode 2011-2015). Jurnal Akademi Akuntansi, 2(1), 62-70.

Thesarani, Nurul Juita. (2017). Pengaruh Ukuran Dewan Komisaris, Kepemilikan Manajerial, Kepemilikan Institusional, dan Komite Audit Terhadap Struktur Modal. Jurnal Nominal, 6(2), 1-13.

Tobing, Murniati, Afifuddin, Sya’ad, Rahmanta, Huber, Sandra Rouli, Pandiangan, Saut Maruli Tua, & Muda, Iskandar. (2018). An Analysis on the Factors Which Influence the Earnings of Micro and Small Business: Case at Blacksmith Metal Industry. Academic Journal of Economic Studies, 5(1), 17-23. https://www.ceeol.com/search/article-detail?id=754945.

Wijaya, Ronni Andri. (2020). Pengaruh Pertumbuhan Penjualan, Struktur Kepemilikan, dan

Struktur Aktiva Terhadap Struktur Modal (Studi Kasus pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia 2014-2018). Bilancia: Jurnal Ilmiah Akuntansi, 4(3), 271-279.




DOI: https://doi.org/10.33258/birci.v5i2.5307

Article Metrics

Abstract view : 135 times
PDF - 48 times

Refbacks

  • There are currently no refbacks.


Creative Commons License
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

 

Creative Commons License
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.