PENGARUH RISIKO BISNIS TERHADAP STRUKTUR MODAL PADA PERUSAHAAN PABRIK KERTAS PT. TJIWI KIMIA TBK PERIODE 2013 - 2018

Aris Munandar

Abstract


This research was conducted with the aim to determine the effect of Business Risk Towards Capital Structure in Paper Factory Companies PT. Tjiwi Kimia Tbk years 2013 - 2018. The population in this study for 10 (ten) years, starting from the year 2009 -2018. The sampling technique used was purposive sampling and the number of samples obtained for 6 years (2013-2018). The data used are secondary data sourced from the financial statements of PT.Tjiwi Kimia Tbk Paper Factory which are listed on the Indonesia Stock Exchange. Data analysis technique used in this study is simple linear regression, correlation simple, coefficient of determination, and hypothesis testing using t-statistical tests to determine the effect partially between business risk to the structure capital with a significance level of 5%. The results showed that the business risk variable influenced the capital structure. Then the simple correlation value of 0.854 which indicates that the closeness of the relationship between business risk and capital structure at the Paper Factory of PT. Tjiwi Kimia Tbk is very strong. And the value of the coefficient of determination is 0.730, which shows that the contribution of the influence of business risk variables on capital structure at the Paper Factory of PT. Tjiwi Kimia Tbk is 73.0%, and the remaining 27.0% is influenced by other variables not examined in this study.

Keywords:  Business Risk, Capital Structure.


Full Text:

PDF

References


Amalia, F. Nur dan Hidayati, L. Nur.2016. Analisis Faktor-Faktor yang Mempengaruhi Struktur Modal Perusahaan LQ 45 yang Terdaftar di Bursa Efek Indonesia. Jurnal Yogyakarta: Universitas Negeri Yogyakarta.

Brigham, Eugene F and Joel F.Houston. 2006. Dasar-Dasar Manajemen

Keuangan, alih bahasa Ali Akbar Yuliant. Buku satu, Edisi sepuluh.

PT. Salemba Empat, Jakarta.

-------------------------------------------.2011. Dasar-dasar Manajemen Keuanga Terjemahan. Edisi 10. Jakarta: Salemba Empat.

Horne, James C.Van dan John M.Machowicz. 2005. Prinsip-Prinsip Manajemen Keuangan. Alih bahasa Dewi Fitriasari dan Deny A.Kwary, Buku satu, Edisi Pertama, Salemba Empat, Jakarta.

Joni dan Lina. 2010. Faktor-faktor yang Mempengaruhi Struktur Modal. Jurnal Bisnis dan Akuntansi, 12(2), 81-96.

Kasmir. 2008. Analisis Laporan Keuangan. Rajawali Pers, Jakarta.

Raharjaputra, Hendra, S. 2011. Manajemen Keuangan dan Akuntansi. Jakarta:

Salemba Empat.

Santika, R. Bagus & Sudiyatno, Bambang. 2013. Menentuka Struktur Modal Perusahaan Manufaktur di Bursa Efek. Jurnal Dinamika Keuangan dan Perbangkan, 172-182, Vol 3 No.2, Nopember 2013.

Sartono, Agus. 2001. Manajemen Keuangan Teori dan Aplikasi. Yogyakarta: BPEF-Yogyakarta, 2001.

Sugiyono. 2018. Statistika Untuk Penelitian. Cetakan 28. Bandung: Alfabeta.

Mahardhika, Silva, Oscarina. 2018. Pengaruh Struktur Aktiva, Risiko Bisnis, dan Ukuran Perusahaan Terhadap Struktur Modal Dengan Profitabilitas Sebagai Variabel Moderating. UNNES.

Mardiansyah, Tommy. 2013. Pengaruh Profitabilitas, dan Operating Leverage terhadap Strutktur Modal pada Perusahaan Makanan dan Minuman yang Terdaftar di Bursa Efek Indonesia Tahun 2008-2011. Universitas Negeri Padang.

http://www.idx.co.id,

http://www.tjiwi.co.i,




DOI: https://doi.org/10.37403/sultanist.v7i2.143

Refbacks

  • There are currently no refbacks.


Copyright (c) 2019 SULTANIST: Jurnal Manajemen dan Keuangan

Diterbitkan Oleh:

Sekolah Tinggi Ilmu Ekonomi Sultan Agung

Pematangsiantar, Sumatera Utara, Indonesia

 

Editorial Office:

   Jln. Surabaya No.19 Pematangsiantar, 21118, Sumatera Utara

   sultanist@stiesultanagung.ac.id

 Telp/Fax. (0622) 25626 / (0821) 65264931


P-ISSN: 2338-4328

E-ISSN: 2686-2646