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All Journal Emerging Markets : Business and Management Studies Journal
Tamba, Cecilia Anggie O.
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Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Languange, Linguistic, Communication & Media Social Sciences

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Determinants of Capital Structure Using Profitability as Moderating in Indonesia’s Property and Real Estate Firms Tamba, Cecilia Anggie O.; Purwanto, Purwanto
Emerging Markets : Business and Management Studies Journal Vol. 8 No. 2 (2021)
Publisher : Directorate of Academic Research and Community Services

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33555/embm.v8i2.175

Abstract

The research aim is to examine determinant factors of Indonesia's property and real estate firms capital structure listed in the Indonesia Stock Exchange. This is a quantitative research which taken 72 observation data from 12 companies audited financial statement and fulfilled certain criteria. Processing through classical assumption tests and multivariate analysis with the help of the EViews 10 software instrument. The results show that tangibility assets, business risk, and firm size have a significant influence on capital structure partially, but sales growth and liquidity have insignificant. The determination coefficient is 42.83% and the proportion is included in the strong criteria. Profitability as a moderating variable weakens the effect of business risk but strengthens the effect of firm size on the debt to equity ratio, further determining the company's ability to pay off its debt which is of great concern to investors and creditors. Furthermore, as a consideration for choosing the composition of a good funding decision in Indonesia.
Co-Authors Purwanto Purwanto