Jurnal Dinamika Manajemen
Vol 4, No 1 (2013): March 2013 (DOAJ Indexed)

KEPEMILIKAN MANAJERIAL, KEPEMILIKAN INSTITUSIONAL, DAN KINERJA KEUANGAN SEBAGAI PENENTU STRUKTUR MODAL PERUSAHAAN

Maftukhah, Ida ( Gedung C6 Lantai 1 FE Unnes Kampus Sekaran, Gunungpati, Semarang )



Article Info

Publish Date
04 Mar 2013

Abstract

Penelitian ini bertujuan untuk menganalisis pengaruh kepemilikan manajerial, kepemilikan institusional, pertumbuhan asset, ROA, DPR, net sales, fixed asset ratio dan corporate tax rate terhadap DER pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia periode 2004-2008. Sampel yang digunakan dalam penelitian ini adalah sepuluh perusahaan manufaktur. Metode pengambilan sampel dilakukan dengan menggunakan purposive sampling. Data yang diteliti diperoleh dari Indonesian Capital Market Directory (ICMD) masing-masing perusahaan. Teknik analisis yang digunakan dalam penelitian ini adalah analisis regresi linier berganda. Hasil penelitian menunjukkan bahwa variabel dummy untuk kepemilikan manajerial dan ROA berpengaruh negatif dan signifikan terhadap DER. Variabel pertumbuhan aset dan DPR berpengaruh positif dan signifikan terhadap DER. Variabel kepemilikan isntitusional berpengaruh positif dan  signifikan terhadap DER. Sedangkan net sales, fixed asset ratio dan corporate tax rate berpengaruh positif dan tidak signifikan terhadap DER. Hasil penelitian juga menunjukkan nilai adjusted R2 sebesar 33,4%.  The objective of this research is to analyze the influence of managerial ownership, institutional ownership, asset growth, ROA, DPR, net sales, fixed asset ratio and corporate tax rate toward stock DER manufacturing company that listed on Indonesian Stock Exchange in the period of 2004-2008. Sample of this research consists of 10 manufacturing company. Purposive sampling methods were used as samples determining method. Data were provided by Indonesian Capital Market Directory (ICMD) for each company. Analysis technique that used in this research is multiple linier regression. The result of this research shows that Managerial ownership as dummy variable and ROA have a negative and significant influence toward DER. Asset growth and DPR have a positive and significant influence toward DER. Institutional ownership have a positive and  significant influence toward DER. Otherwise net sales, fixed asset ratio and corporate tax rate have a positive and not significant influence toward DER. The result of this research shows that adjusted R2 is 33,4%

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Journal Info

Abbrev

jdm

Publisher

Subject

Decision Sciences, Operations Research & Management

Description

Jurnal Dinamika Manajemen [p-ISSN: 2086-0668 | e-ISSN: 2337-5434] issued by the Department of Management, Faculty of Economics, Universitas Negeri Semarang, Indonesia, periodically (every 6 months) in March and September with the aim of disseminating information about the study of knowledge ...