Pengaruh Corporate Governance Terhadap Struktur Modal Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia

Abstract

The purpose of this research is to know managerial ownership, institutional ownership, profitability, and firm size affects partially and simultaneously to capital structure of manufacturing company that existed in Indonesia Stock Exchange. The type of research used is the type of associative research. The population used in this study is a manufacturing company listed on the Indonesia Stock Exchange during the period 2013-2015. The samples of the study are 15 manufacturing companies listed on the Indonesian Stock Exchange. The type of data used is quantitative data. Data source in this research is secondary data. Data collection technique in this research is documentation technique. Data analysis techniques, multiple regression techniques, and his hypothesis test using t test and f test. the results of this study indicate that partially managerial ownership variables do not affect the capital structure, partially institutional ownership variables do not affect the capital structure, partially profitability variables do not affect the capital structure, partially variable size of the company affect the capital structure. Simultaneously, managerial enforcement, institutional ownership, profitability, and firm size affect the capital structure. From the results of this study the value of correlation coefficient (r) of 0.409 indicates that the four variables together have a relationship 40.1% of the capital structure while the remaining 59.9% can be explained by other factors not examined in this study. From the results of this study, the value of determination coefficient (R2) of 0.167 or 16.7%, dependent variable (capital structure) can be explained by the four independent variables (managerial ownership, institutional ownership, profitability, and company size) while the remaining 83.3% by other factors not examined in this study