EFEK STRUKTUR MODAL TERHADAP PROFITABILITAS PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA (Management Analysis Journal, 2012)
Abstrak ___________________________________________________________________ Struktur modal merupakan masalah penting bagi setiap perusahaan, dimana manajer harus benar-benar selektif dalam memanfaatkan penggunaan dana dalam struktur modal perusahaan untuk mencapai keuntungan maksimal dengan pengorbanan yang seminimal mungkin, baik buruknya struktur modal akan mempengaruhi efek langsung terhadap posisi finansial perusahaan. Penelitian ini bertujuan untuk mengatahui dan menganlisis efek struktur modal (short debt to asset ratio, longterm debt to asset ratio, debt to equity ratio, equity to asset ratio) terhadap profitabilitas pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia pada periode tahun 2007-2009. Metode analisis yang digunakan adalah analisis regresi berganda. Hasil penelitian menunjukan koefisien regresi variabel short debt to asset ratio sebesar -2,375 dan nilai sig sebesar 0,018; koefisien regresi variabel longterm debt to asset ratio sebesar -2,687 dan nilai sig 0,008; koefisien regresi variabel debt to equity ratio sebesar 3,605 dan nilai sig 0,000; serta koefisien regresi variabel equity to asset ratio sebesar 0,240 dan nilai sig 0,810. Sehingga rasio short debt to asset ratio, longterm debt to asset ratio berpengaruh negatif dan signifikan terhadap return on equity, variabel  debt to equity ratio berpengaruh positif dan signifikan terhadap return on equity sedangkan variabel equity to asset ratio tidak berpengaruh signifikan terhadap return on equity.   Abstract ___________________________________________________________________ Capital structure is an important thing for company, the manager should be selective in taking advantage of the fund use in the company capital structure. It is aimed to get maximal advantage for the company. Capital structure will effect to the company financial directly. This research is aimed to analyze capital structure (short debt to asset ratio, longterm debt to asset ratio, debt to equity ratio, equity to asset ratio) on the profitability of the manufacturing companies listed in in indoensia stock exchange in the year of 2007-2009. The method analysis used multiple linear regression analysis. The results showed the regression coefficients variable short debt to asset ratio is as much as -2.375 and sig score 0.018; regression coefficients variable longterm debt to asset ratio is as much as -2.687and sig score 0.008; regression coefficients variable debt to equity ratio is as much as 3.605 and sig score 0.000; regression coefficients variable short debt to asset ratio is as much as 0,240 and sig score 0.810. The writer conclude ratio of short debt to asset ratio, longterm debt to asset ratio variabel have negative and significant effect on return on equity, debt to equity variable have positif and significant efeect on return on equity while equity to asset ratio variable has no significant effect to return on equity.