Pengaruh Profitabilitas, Struktur Aktiva, Likuiditas, dan Kebijakan Dividen terhadap Struktur Modal pada Perusahaan Perbankan yang Terdaftar di Bursa Efek Indonesia

Abstract

This study aims to determine the effect of profitability, asset structure, liquidity and dividend policy on the capital structure of banking companies listed on the Indonesia Stock Exchange during the 2018-2020 period. The independent variables of this study are profitability, asset structure, liquidity and dividend policy, while the dependent variable is capital structure. The population in this study are banking companies listed on the Indonesia Stock Exchange for the period 2018-2020. The sampling technique used the purposive sampling method and obtained as many as 15 banking companies used as observation samples during the 2018-2020 period, so that the research data analyzed amounted to 45. The data analysis technique used multiple linear regression analysis. The results showed that profitability, asset structure and liquidity had no significant negative effect on capital structure, while dividend policy had a significant positive effect on capital structure.