ANALISIS DETERMINAN YANG MEMPENGARUHI STRUKTUR MODAL (Studi Pada Perusahan Manufaktur Subsektor Farmasi Yang Terdaftar Pada Bursa Efek Indonesia (BEI) Tahun 2013-2017)

Alief Mustikaweni SE


This research purpose is to examined the effect of determinant profitability, tangibility asset, firm size, growth opportunity, and Non-debt tax shield (NDTS) to capital structure pharmacy firms which has listed on the Indonesia Stock Exchange in the 2013- 2017 period. Pharmacy firms has developed very greatly in Indonesia because of Indonesia’s growing population and government program to increase the health on citizens through National Health Assurance / Jaminan Kesehatan Nasional (JKN). This research using sample of 7 companies which have listed at the Indonesia Stock Exchange. The research uses explanatory quantitative method and multiple linear regression as the analyzing tool. The findings shown that profitability, firm size and NDTS have effect on firm’s capital structure. While tangibility asset and growth opportunity do not have effect on firm’s capital structure. Keywords: Capital Structure, Pharmacy Firm, Profitability, Tangibility Asset, Firm Size, Growth Opportunity, Non-debt tax shield (NDTS).

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