Factor That Influence Capital Structure: A Study Case in Cement Industry at the Indonesia Stock Exchange Period: 2008 - 2012

JENNY, LUCYANA (2013) Factor That Influence Capital Structure: A Study Case in Cement Industry at the Indonesia Stock Exchange Period: 2008 - 2012. Diploma thesis, UNIVERSITAS ANDALAS.

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Abstract

Capital structure is an equalization between the use of debt and the use of owned capital. It means that the amount of the owned capital and the amount of the debt that will be used can produce an optimal capital structure. This study will examine the effects of size, profitability, and payout of the cement industry. The purpose of this study is to investigate and examine the influences of size, profitability, and payout on leverage. This study was conducted because there were still differences between the research studies from each other and there was a difference between the real states of research studies from each other and there was a difference between the real of research data and existing theories. This research was conducted using the secondary data. Sampling technique used was the purposive sampling. Of the three available data it turned out that all companies have a complete financial report of the year 2008-2012. The analytical method used was the multiple regression analysis. The results say that size does not have any significant and positive effect on leverage; profitability has some significant and negative effects on leverage, and payout does not have any significant and positive effects on leverage. Multiple RSquare showed that 46.1% of the results indicate that the changes in leverage are defined by size, profitability, and payout, while the remaining 53.9% are defined by changes of other variables which are not included in the model. Keywords: size, profitability, payout, and leverage

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