ANALISIS STRUKTUR MODAL TERHADAP KINERJA KEUANGAN PADA PERUSAHAAN PROPERTI DAN REAL ESTATE YANG TERDAFTAR DI BURSA EFEK INDONESIA.
Hafni Cholida Nasution
Abstract
This study aims to determine the effect of capital structure on financial performance (Debt to total ratio and debt to Equity Ratio to Return on Equity) on property and real estate companies listed on the Indonesian stock exchange in the period 2015-2018. Capital structure is proxied by DR (X1) while financial performance is proxied by ROE (X2). The population in the study are property and real estate companies listed on the Indonesia Stock Exchange in 2015-2018 and the total population in the study was 42 companies. While the sampling technique is purposive sampling. So that the sample in this study amounted to 40 companies.
study was obtained from the documentation of companies listed on the Indonesia Stock Exchange (IDX) in the 2015-2018 period. Documentation with secondary data collection in the form of financial statements on the Indonesian stock exchange.
The results of multiple linear analysis that is ROE = -3,248 + 0,401 DR– 0,017 DER shows that the debt ratio (DR) partially has a positive and significant effect on return on equity (ROE) with a significant value of 0,000 <0.05, this is seen from the beta value 1,010 and the variable debt equity ratio (DER) has no significant effect on return on equity (ROE). The direction of the regression coefficient is negative with a significance value of 0.103> 0.05, this is seen from the beta value of -0.315 and when the DR and DER increase simultaneously will significantly increase ROE. This means that the independent variable, DR and DER, increase together, and significantly influence the dependent variable, ROE.
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