Analisis Dekomposisi Struktur Modal Pada Perusahaan Pertambangan Subsektor Batubara Di Bursa Efek Indonesia

Apriani, Kiki (2021) Analisis Dekomposisi Struktur Modal Pada Perusahaan Pertambangan Subsektor Batubara Di Bursa Efek Indonesia. Other thesis, Universitas Islam Riau.

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Abstract

This paper aims to analyze the relationships between the determinants of coal mining capital structure to it’s leverage. This study focuses on the use of decompotional analysis to its leverage by applying two mains theories of capital structure that are the trade off theory and the pecking order theory. A decompotional analysis divided leverage into four type indicators of dependence variables that each of these variables calculated again based on the book value. A decompotional analysis aims to measure the sensitivity of the different measurements of the definition of leverage. This study was conducted on 20 coal mining companies listed in Indonesia Stock exchange from 2014 to 2018 by purposive sampling method. The analysis tool used is multiple linier regression analysis with IBM SPSS 25 program. The result showed that factors into the determinants of the capital structure of coal mining industries are tangibility, size, growth, and profitability were found to significantly affect the decomposition of leverage simultaneously. Tangibility is not significant positive affect on decomposition of leverage non-equity liabilities to total assets and not significant negative affect on decomposition of leverage debt to total assets, debt to capital, and adjusted debt to adjusted capital. Size is not significant negative affect on decomposition of leverage. Growth is not significant positive affect on decomposition of leverage debt to total assets and debt to capital and not significant negative affect on decomposition of leverage non-equity liabilities to total assets and adjusted debt to adjusted capital. While profitability is proven significantly affect the decomposition of leverage.

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