ANALISIS FAKTOR-FAKTOR YANG MEMPENGARUHI SKTRUKTUR MODAL PADA PERUSAHAAN MANUFAKTUR DI BURSA EFEK JAKARTA

The study was aimed at analyzing factors influencing capital structure. The analyses
were focused on 34 manufacturing companies registered in Jakarta Stock Exchange The
research was conducted during 2003 up to 2005. In terms of companies' name, the data were
obtained through Indonesian Capital Market Directory (ICMD), while the financial data and
monthly cloing price is derived from Jakarta Stock Exchange Corner of Muhammadiyah
University of Yogyakarta.
The independent variables used are active structure, growth rate, profitability,
operating leverage, work capital change, and company size. The hypothesis is tested using
multiple linear regressions. The findings show that ,together, active structure, growth rate,
profitability, operating leverage, work capital change, and company size influence the capital
structure, while partially only operating leverage and company size do not influence the
capital structure.