PENGARUH STRUKTUR MODAL TERHADAP PROFITABILITAS (Studi Pada Perusahaan Sub Sektor Otomotif dan Komponen yang Terdaftar di Bursa Efek Indonesia Periode 2013-2015)

Abstract

Automotive and component industry is a kind of industry which has a large scope on the process, because it starts from designing until selling the products. The accurate funding is needed to enhance the profit of the company. Referring to that fact, the aim of this study is to give explanation about the effect of fund capital structure that is represented by debt equity ratio (DER), long term debt to equity ratio (LDER), time interest earned ratio (TIER) toward the profitability that is represented by return on equity (ROE). The sample of this study is 12 automotive companies and the technique used is purposive sampling. The data analysis of this study is multiple linier regression analysis. In conclusion, the result of this study shows that DER, LDER, and TIER give simultaneous effect toward ROE. Partially, the result of the data analysis shows that DER give positive and not significant effect toward ROE, however, LDER give negative and  significant effect toward ROE, and TIER give positive and significant effect toward ROE.

Keywords: Capital Structure, Profitability

ABSTRAK

Industri otomotif dan komponen merupakan Industri yang cakupanya cukup luas dari merancang kendaraan bermotor sampai menjualnya. Pendanaan yang tepat sangat diperlukan agar dapat meningkatkan profit perusahaan. Fokus penelitian ini bertujuan untuk menjelaskan pengaruh struktur modal yang diwakili oleh debt equity ratio (DER), long term debt to equity ratio (LDER), time interest earned ratio (TIER) terhadap profitabilitas yang diwakili oleh return on equity. Sampel pada penilitian ini sebanyak 12 perusahaan dengan menggunakan teknik pengambilan sampel purposive sampling. Analisis data menggunakan analisis regresi linier berganda. Hasil penelitian menunjukkan bahwa DER, LDER dan TIER secara simultan berpengaruh terhadap ROE. Secara parsial hasil analisis menunjukkan bahwa DER berpengaruh positif dan tidak signifikan terhadap ROE, LDER berpengaruh negatif dan signifikan terhadap ROE dan TIER berpengaruh positif dan signifikan terhadap ROE.

Kata Kunci: Struktur Modal, Profitabilitas