Electronic Theses and Dissertation

Abstrak penelitian ini bertujuan untuk mengetahui pengaruh struktur aset, earning volatility, financial flexibility dan likuiditas terhadap struktur modal pada perusahaan manufaktur yang terdaftar di bursa efek indonesia (bei) periode 2019- 2023. penelitian ini juga menggunakan ukuran perusahaan dan umur perusahaan sebagai variabel kontrol. penelitian ini digolongkan kedalam jenis penelitian kuantitatif dengan mengunakan metode multistage sampling dengan menggabungkan stratified sampling (probability sampling) dan purposive sampling (non-probability sampling) dalam pengambilan sampel. sampel dalam penelitian ini adalah 60 perusahaan sektor manufaktur yang tercatat di bursa efek indonesia periode 2019-2023. metode analisis yang digunakan adalah analisis regresi linear berganda dengan program eviews 12. secara persial hasil penelitian menunjukkan bahwa earning volatility, financial flexibility, likuiditas berpengaruh negatif dan signifikan terhadap struktur modal sedangkan struktur aset berpengaruh positif dan tidak signifikan terhadap struktur modal. variabel kontrol ukuran perusahaan berpengaruh positif dan signifikan terhadap struktur modal sedangkan umur perusahaan berpengaruh negatif dan signifikan terhadap struktur modal. kata kunci: struktur modal, earning volatility, financial flexibility, likuiditas, ukuran perusahaan, umur perusahaan, perusahaan sektor manufaktur

ABSTRACT This study aims to examine the effect of Asset Structure, Earnings Volatility, Financial Flexibility, and Liquidity on Capital Structure in manufacturing companies listed on the Indonesia Stock Exchange (IDX) for the 2019–2023 period. The study also employs firm size and firm age as control variables. This research is classified as quantitative research using a multistage sampling method by combining stratified sampling (probability sampling) and purposive sampling (nonprobability sampling) in selecting the samples. The sample consists of 60 manufacturing sector companies listed on the IDX during the 2019–2023 period. The analytical method applied is multiple linear regression using the EViews 12 software. Partially, the findings reveal that earnings volatility, financial flexibility, and liquidity have a negative and significant effect on capital structure, while asset structure has a positive but insignificant effect on capital structure. The control variable firm size has a positive and significant effect on capital structure, while firm age has a negative and significant effect on capital structure. Keywords: Capital Structure, Earning Volatility, Financial Flexibility, Liquidity, Firm Size, Firm Age, Manufacturing Companies.