PENGARUH RISIKO BISNIS, PERTUMBUHAN PENJUALAN DAN SET KESEMPATAN INVESTASI TERHADAP STRUKTUR MODAL PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA

Abstract

This research is intended to find out how big the influence of Business Risk, Sales Growth and Investment Opportunity Set on Capital Structure. In this study, the samples taken were manufacturing companies listed on the Indonesia Stock Exchange for the period 2011-2020. The data collection technique used in this study is to collect documentation in the form of financial statements of manufacturing companies listed on the Indonesia Stock Exchange for the period 2011-2020. The data analysis method used in this research is using panel data regression. The results of this study indicate that business risk has a positive and significant effect on capital structure, sales growth has a positive and significant effect on financial performance, the investment opportunity set has no positive and significant effect on capital structure. It is hoped that this research will be able to provide information about the factors that influence the capital structure analyzed using business risk variables, sales growth and investment opportunity sets in manufacturing companies listed on the Indonesia Stock Exchange with the aim of making the right decisions regarding the company's performance.