Does determinant, capital structure in pharmacy company in indonesia Finance Section Accountancy and Finance
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Oct 30, 2023
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Abstract
This study aims to determine whether there is an influence on asset structure, and sales growth. Liquidity and business risk on the capital structure of pharmaceutical companies listed on the Indonesia Stock Exchange. The sample in this research is a pharmaceutical company consisting of 15 companies from 2018 to 2022. The research method used is multiple linear regression analysis with SPSS-26. The results of the study show that asset structure has no significant effect on capital structure, sales growth has an effect on capital structure, liquidity has an effect on capital structure and Business Risk has no significant effect on the capital structure of pharmaceutical companies listed on the IDX for the 2018-2022 period. Based on table 3.0, it is known that the coefficient of determination or Adjusted R2 is 0.40 or 40%, it can be interpreted that the contribution of the independent variable to the dependent variable is the capital structure of 40% and the remaining 60% by other variables
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How to Cite
Hidayat, W. W. (2023). Does determinant, capital structure in pharmacy company in indonesia: Finance. Enrichment : Journal of Management, 13(4), 2709-2716. https://doi.org/10.35335/enrichment.v13i4.1642
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Wiguna, Rr Hentia Endang Rahayu, and Sriyono Sriyono. 2022. “The Effect of Business Risk and Dividend Policy on Financial Performance with Capital Structure as an Intervening Variable.” Indonesian Journal of Innovation Studies 20: 1–21.
Ari Pranaditya, Rita Andini & Arditya Dian A. 2021. “The Influence of Sales and Leverage on Profit Management Mediated Profitability and Moderated by Deferred Tax. Indonesian Science Media.” Indonesian Sccience Media: 2021.
Brigham, E, F & Weston, J, F. 2008. “Fundamentals of Financial Management, Ninth Edition, Volume 2, Erlangga Publisher, Jakarta.” 2: 122.
Chandra, Teddy. 2009. “The Effects of Environment Risk,Capital Struktur,and Corporate Strategy on Assets Productivity, Financial Performance and Corporate Value,.” The International Journal o f Accounting and Business Society’ 17(1).
Dewiningrat, Ayu Indira, and I. Ketut Mustanda. 2018. “The Effect of Liquidity, Profitability, Sales Growth, and Asset Structure on Capital Structure.” Unud E-Journal Management 7(1): 3471–3501.
Firanti, Sinta Devi, and Wulan Suryandani. 2023. “The Effect of Liquidity , Sales Growth , and Company Size on Capital Structure ( Case Study on Transportation Companies Listed on the Indonesian Stock Exchange ).” Jurnal Penelitian Ilmu Manajemen (JPIM) 8(1): 116–24.
Halim, Abdul. 2007. “Public Sector Accounting: Regional Financial Accounting,. Salemba Empat, Jakarta.” 1(1): 2007.
Hartati, and Mukhibad. 2018. “The Influence Of Profitability, Liquidity, Business Risk, Firm Size, And Sales Growth In The Property And Real Estate Companies Listed In The Idx During 2013 - 2016.” Accounting Analysis Journal 7(2): 103–10.
Ivan Aldo Hosea, Tri Siswantini & Sri Murtatik. 2020. “Leverage, Profitability, Sales Distribution on Financial Distress in Retail Companies on IDX.” BEIMA Proceedings vol.1-2020. 1: 2020. https://conference.upnvj.ac.id/index.php/biema/article/view/718.
Komarudin, Mamay & Tabron. 2019. “Capital Financial Structure Management.” : 12.
Kurniawan, Setia Budi, and Mira Aisyah Nendya. 2022. “Analysis of the Effectof Profitability, Company Growth, and Liquidity on Capital Structure: A Case Study of Indonesia.” International Journal of Research in Social Science and Humanities 03(02): 26–33.
Melisa Rahmadianti, Y. Yuliandi. 2020. “The Effects of Profitability, Business Risk, Managerial Ownership, and Taxes on Capital Structure.” 21(6): 1–9.
Monica Setiawati, Elvira Veronica. 2020. “"The Influence of Profitability, Asset Structure, Company Size, Business Risk, Sales Growth, Company Growth, Liquidity on Capital Structure in Service Sector Companies in the 2016-2018 Period.” Journal of Accounting 21(1): 1–9. http://journal.um-surabaya.ac.id/index.php/JKM/article/view/2203%0Ahttp://mpoc.org.my/malaysian-palm-oil-industry/.
Mulyati, Delia. 2021. “Effects of Profitability, Liquidity, Company Size, and Sales Growth on Capital Structure (Studies of Property and Real Estate Companies Listed on the Indonesian Stock Exchange 2017-2020).” University Muhammadiyah, Malang 12: 2021.
Novi Puji R, Prijati Prijati. 2019. “The Effect of Company Size, Sales Growth, and Asset Structure on Capital Structure." J.” Journal of Management Science and Research (JIRM) 2(8): 2019.
Nurul Qosidah, Fitri Romadhon. 2021. “"The Influence of Liquidity, Asset Structure and Business Risk on Capital Structure (Empirical Study of Property and Real Estate Companies on the Indonesian Stock Exchange).” Journal of Accounting 12(23): 2021.
Prastika, Ni Putu Yulinda, Made Reina Candradewi. 2020. “The Influence of Profitability, Asset Structure, and Liquidity on the Capital Structure of Building Construction Subsector Companies in BEI.” E-Journal Management 8(7): 1–9.
Rahman, Arif. 2019. “The Effect of Company Growth, Business Risk on Capital Structure and Company Value in the Banking Industry on the Indonesian Stock Exchange before and after the Global Crisis.".” Triatma Mulya School of Economic 1(1): 114–29.
Rizky Kartika, Hasanudin Hasanudin. 2019. “Analysis of the Effect of Liquidity, Leverage, Activity and Profitability on Financial Distress in Infrastructure and Transportation Sector Companies for the 2011-2015.” Journal of economic 15(1): 2019.
Samsul, Kartika, Fatimah Fatimah, and Yuhanis Ladewi. 2022. “Influence of Asset Structure, Firm Size, Profitability and Business Risk on Capital Structure in Companies Listed on the IDX.” International Journal of Finance Research 3(2): 84–100.
Sitanggang, T N, F T Lubis, and S Tiadora. 2021. “Factors Affecting the Capital Structure Of Manufacturing Companies In The Basic Industry and Chemical Sub-Sector Listed On the Indonesia Stock Exchange for the ….” Jurnal Mantik 5(36): 256–65. http://www.iocscience.org/ejournal/index.php/mantik/article/view/1327%0Ahttp://www.iocscience.org/ejournal/index.php/mantik/article/download/1327/924.
Susanti, Neneng, Vicka Rachmawati, and Hasan Harfudin. 2021. “The Effect of Assets Structure, Sales Growth, Liquidity, and Assets Growth on Capital Structure (Debt to Equity Ratio) in Pt. Kereta Api Indonesia (Persero) Period 2016 – 2021.” International Journal of Artificial Intelligence Research 6(1).
Umdiana, Nana, Hashifah Claudia. 2020. “"Capital Structure Analysis Based on Trade off Theory.” Journal of Accounting: Scientific Review of Accounting 7.1 7(1): 52–70. http://journal.um-surabaya.ac.id/index.php/JKM/article/view/2203%0Ahttp://mpoc.org.my/malaysian-palm-oil-industry/.
Wastam Wahyu Hidayat. 2018. “Wastam Wahyu. H 2018’ Financial Report Analysis, Publisher: Uwais Inspiration Indonesia. \First.Printing,November.2018,Http://Repository.Ubharajaya.Ac.Id/5964/1/Analisys Reporting.Book.Pdf.” Uwais Ispiration Publisher 1(1): 5964. http://repository.ubharajaya.ac.id/5964/1/Analisys Reporting.Book.pdf.
Wiguna, Rr Hentia Endang Rahayu, and Sriyono Sriyono. 2022. “The Effect of Business Risk and Dividend Policy on Financial Performance with Capital Structure as an Intervening Variable.” Indonesian Journal of Innovation Studies 20: 1–21.