Pengaruh Profitabilitas, Tangibilitas, Risiko Bisnis, Pajak, Non Debt Tax Shield terhadap Struktur Modal Serta Implikasinya terhadap Nilai Perusahaan
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Abstract
A B S T R A C T
This study aims to examine the extent of the effect of profitability, tangibility, business risk, tax and non-debt tax shield on capital structure, and its implications for the value of the company. The sample used in this study were 23 mining companies listed on the Indonesian stock exchange in 2010-2014. The formulation of the problem posed in this study is how much influence the profitability, tangibility, business risk, tax and non-debt tax shield on capital structure, and the influence of capital structure to the company’s value partially and simultaneously. The sampling technique in this study using purposive sampling. The method used in this study using multiple linear regression and simple linear regression by using SPSS 21. The results of this study concluded that simultaneous independent variables affect the dependent variable. Partially profitability, tangibility, business risk, no significant effect on the capital structure, while the tax, non-debt tax shield a significant effect on capital structure and capital structure does not significantly influence the value of the company at a mining company listed on the stock exchanges Indonesia the period 2010 to 2014.
A B S T R A K
Studi ini bertujuan untuk meneliti sejauhmana pengaruh profitabilitas, tangibilitas, risiko bisnis, pajak dan non debt tax shield terhadap struktur modal, dan implikasinya terhadap nilai perusahaan. Sampel yang di gunakan dalam penelitian ini sebanyak 23 perusahaan pertambangan yang terdaftar di bursa efek indonesia periode 2010-2014. Rumusan masalah yang diajukan dalam penelitian ini adalah seberapa besar pengaruh profitabilitas, tangibilitas, risiko bisnis, pajak dan non debt tax shield terhadap struktur modal, dan pengaruh struktur modal terhadap nilai perusahaan secara parsial dan simultan. Teknik pengambilan sampel dalam penelitian ini menggunakan purposive sampling. Metode yang digunakan dalam penelitian ini menggunakan regresi linier berganda dan regresi linier sederhana dengan menggunakan SPSS 21. Hasil penelitian ini menyimpulkan bahwa secara simultan variabel independen berpengaruh terhadap variabel dependen. Secara parsial profitabilitas, tangibilitas, risiko bisnis, tidak berpengaruh signifikan terhadap struktur modal, sedangkan pajak, non debt tax shield berpengaruh signifikan terhadap struktur modal dan struktur modal tidak berpengaruh signifikan terhadap nilai perusahaan pada perusahaan pertambangan yang tercatat pada bursa efek indonesia periode tahun 2010 sampai 2014.
JEL Classification: H25, O16, M41
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