ANALISIS FAKTOR-FAKTOR KEBIJAKAN HUTANG YANG BERPENGARUH TERHADAP NILAI PERUSAHAAN (Pada Perusahaan Manufaktur Industri Logam Yang Terdaftar Di Bursa Efek Indonesia Periode 2011-2015)
DOI:
https://doi.org/10.32493/skt.v2i3.2791Abstract
Tujuan penelitian ini adalah untuk menganalisis pengaruh dari variabel Faktor-faktor Kebijakan Hutang yaitu, likuiditas (CR), Struktur Aktiva, Profitabilita (GM) terhadap kebijakan hutang (DER) dan pengaruh kebijakan hutang terhadap nilai perusahaan (PBV) pada perusahaan manufaktur yang tercatat di Bursa Efek Indonesia periode 2011-2015. Penelitian menggunakan metode purposive sampling untuk pengambilan sampel. Data diperoleh berdasarkan publikasi Indonesian Capital Market Directory (ICMD), diperoleh jumlah sampel sebanyak 15 perusahaan manufaktur. Hasil analisis menunjukkan bahwa besarnya kemampuan prediksi dari ketiga variabel independen ( Likuiditas 96,3%, Struktur Aktiva 52,1%, Profitabilitas 13,9 %) terhadap kebijakan hutang yang ditunjukkan dari besarnya adjusted R2, sisanya dipengaruhi oleh variabel lain diluar model. Sedangkan untuk variabel dependen price book value adjusted R2 berarti bahwa besar variasi variabel price book value yang dapat diterangkan oleh variasi variabel kebijakan hutang (DER) adalah sebesar 77,2% persen sedang sisanya dipengaruhi variabel lain di luar model penelitian.
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