Article Sidebar
Main Article Content
Abstract
The purpose of this study is to test and analyze how the capital structure measured by using DER affects the profitability of companies engaged in real estate listed on the IDX during 2017-2018. This research is a causality study that will identify the cause
and effect of the capital structure variable on company profitability. The population in this study, namely all real estate companies listed on the IDX, as many as 65, then those that meet the sample criteria are 42 companies taken based on purposive
sampling criteria. Hypothesis testing is done using the SPSS for the windows 24.0 test tool. The results of the study indicate that the capital structure has a significant positive effect on company profitability. These results indicate that when there is an increase in debt use, there is an increase in the company's profitability. Companies with ownership conditions. Long-term debt is used for long-term funding to buy fixed assets of the company to increase its production and sales in the hope that the company can get more significant profits. Although there is interest that must be paid if the company chooses to finance with debt, the trade-off theory states that companies with high profitability will maximize their long-term debt because the interest expense
arising from these debts can reduce taxes that the company's profitability will increase. In line with the data tested in this study, 9 of the companies optimize debt to increase the company's profitability.
Keywords
Article Details
This work is licensed under a Creative Commons Attribution 4.0 International License.
References
- Ahmad, H., Mappatompo, A., & Muslim, M. (2018). Capital Ownership Structure And Decision On Fi-financial Market Reaction And Corporate Value. International Journal of Innovative Science and Re-search Technology, 3(9), 395-406. Arsal, M. (2021). Impact of earnings per share and dividend per share on firm value. ATESTASI: Jurnal Ilmiah Akuntansi, 4(1), 11-18. Asnawi, S. K., & Wijaya, C. (2005). Riset Keuangan. Pengujian-pengujian Empiris, Jakarta: Penerbit PT Gramedia Pustaka Utama. Astuti, K. D., Retnowati, W., & Rosyid, A. (2015). Pengaruh Struktur Modal Terhadap Profitabilitas. JAK (Jurnal Akuntansi): Kajian Ilmiah Akuntansi, 2(1). Atmadja, A. S. (2010). Pasar Modal Regional dalam Masa Krisis Finansial 1997 dan 2007: Kajian terhadap Interdependensi Bursa Asia Tenggara. Ekuitas, Jurnal Ekonomi dan Keuangan, 14(3). Boutilda, R. (2015). Analisis pengaruh struktur modal terhadap profitabilitas perusahaan (studi empiris perusahaan-perusahaan manufaktur yang terdaftar di BEI periode 2009-2013). Jurnal Fakultas Ekonomi-UI2015. Komara, A., Hartoyo, S., & Andati, T. (2016). Analisis pengaruh struktur modal terhadap kinerja keu-angan perusahaan. Jurnal Keuangan dan Perbankan, 20(1), 178710. Kumar, V., Anand, A., & Song, H. (2017). Future of retailer profitability: An organizing framework. Journal of Retailing, 93(1), 96-119. Martono, dan D. Agus Harjito. 2010. Manajemen Keuangan. Yogyakarta: EKONISIA Muhammad, T. T., & Rahim, S. (2019). Pengaruh Tingkat Likuiditas Dan Profitabilitas Terhadap Harga Saham Pada Perusahaan Manufaktur Yangterdaftar Di Bursa Efek Indonesia (BEI). Jurnal Akuntansi Aktual, 3(2), 117-126. Pramukti, A. (2019). Faktor-Faktor Yang Mempengaruhi Struktur Modal Perusahaan. ATESTASI: Jurnal Ilmiah Akuntansi, 2(1), 58-67. Putra, Y. M. (2020). The Effect of Sales Growth, Profitability and Leverage on Tax Avoidance. ATESTASI: Jurnal Ilmiah Akuntansi, 3(2). Putri, A. W. N. S., & Lutfillah, N. Q. (2020). Profitability, Company Size, Financial Leverage and Dividend Payout Ratio Influencing Income Smoothing Practices. ATESTASI: Jurnal Ilmiah Akuntansi, 3(2), 84-89. Santika, R. B., & Sudiyatno, B. (2011). Menentukan struktur modal perusahaan manufaktur di Bursa Efek Indonesia. Dinamika keuangan dan perbankan, 3(2), 172-182. Saputra, Y. W., Purwanti, R. S., & Yustini, I. (2020). Pengaruh Strategi Green Marketing Terhadap Kepu-tusan Pembelian (Studi pada Konsumen Perumahan Garden City Ciamis). Supiyadi, D., Ramdhonah, Z., & Fithriani, M. (2018). Pengaruh Struktur Modal Terhadap Profitabilitas (The Effect of Capital Structure on Profitability: A Literature Review). Available at SSRN 3106140. Susanti, I. A., & Riduwan, A. (2020). Pengaruh Kebijakan Dividen, Profitabilitas, Dan Leverage Ter-hadap Nilai Perusahaan. Jurnal Ilmu dan Riset Akuntansi (JIRA), 9(10).
References
Ahmad, H., Mappatompo, A., & Muslim, M. (2018). Capital Ownership Structure And Decision On Fi-financial Market Reaction And Corporate Value. International Journal of Innovative Science and Re-search Technology, 3(9), 395-406. Arsal, M. (2021). Impact of earnings per share and dividend per share on firm value. ATESTASI: Jurnal Ilmiah Akuntansi, 4(1), 11-18. Asnawi, S. K., & Wijaya, C. (2005). Riset Keuangan. Pengujian-pengujian Empiris, Jakarta: Penerbit PT Gramedia Pustaka Utama. Astuti, K. D., Retnowati, W., & Rosyid, A. (2015). Pengaruh Struktur Modal Terhadap Profitabilitas. JAK (Jurnal Akuntansi): Kajian Ilmiah Akuntansi, 2(1). Atmadja, A. S. (2010). Pasar Modal Regional dalam Masa Krisis Finansial 1997 dan 2007: Kajian terhadap Interdependensi Bursa Asia Tenggara. Ekuitas, Jurnal Ekonomi dan Keuangan, 14(3). Boutilda, R. (2015). Analisis pengaruh struktur modal terhadap profitabilitas perusahaan (studi empiris perusahaan-perusahaan manufaktur yang terdaftar di BEI periode 2009-2013). Jurnal Fakultas Ekonomi-UI2015. Komara, A., Hartoyo, S., & Andati, T. (2016). Analisis pengaruh struktur modal terhadap kinerja keu-angan perusahaan. Jurnal Keuangan dan Perbankan, 20(1), 178710. Kumar, V., Anand, A., & Song, H. (2017). Future of retailer profitability: An organizing framework. Journal of Retailing, 93(1), 96-119. Martono, dan D. Agus Harjito. 2010. Manajemen Keuangan. Yogyakarta: EKONISIA Muhammad, T. T., & Rahim, S. (2019). Pengaruh Tingkat Likuiditas Dan Profitabilitas Terhadap Harga Saham Pada Perusahaan Manufaktur Yangterdaftar Di Bursa Efek Indonesia (BEI). Jurnal Akuntansi Aktual, 3(2), 117-126. Pramukti, A. (2019). Faktor-Faktor Yang Mempengaruhi Struktur Modal Perusahaan. ATESTASI: Jurnal Ilmiah Akuntansi, 2(1), 58-67. Putra, Y. M. (2020). The Effect of Sales Growth, Profitability and Leverage on Tax Avoidance. ATESTASI: Jurnal Ilmiah Akuntansi, 3(2). Putri, A. W. N. S., & Lutfillah, N. Q. (2020). Profitability, Company Size, Financial Leverage and Dividend Payout Ratio Influencing Income Smoothing Practices. ATESTASI: Jurnal Ilmiah Akuntansi, 3(2), 84-89. Santika, R. B., & Sudiyatno, B. (2011). Menentukan struktur modal perusahaan manufaktur di Bursa Efek Indonesia. Dinamika keuangan dan perbankan, 3(2), 172-182. Saputra, Y. W., Purwanti, R. S., & Yustini, I. (2020). Pengaruh Strategi Green Marketing Terhadap Kepu-tusan Pembelian (Studi pada Konsumen Perumahan Garden City Ciamis). Supiyadi, D., Ramdhonah, Z., & Fithriani, M. (2018). Pengaruh Struktur Modal Terhadap Profitabilitas (The Effect of Capital Structure on Profitability: A Literature Review). Available at SSRN 3106140. Susanti, I. A., & Riduwan, A. (2020). Pengaruh Kebijakan Dividen, Profitabilitas, Dan Leverage Ter-hadap Nilai Perusahaan. Jurnal Ilmu dan Riset Akuntansi (JIRA), 9(10).