APAKAH KONDISI PEREKONOMIAN MEMPENGARUHI KEBIJAKAN STRUKTUR MODAL PERUSAHAAN PADA INDEKS LQ45?

pengaruh makroekonomi terhadap struktur modal

  • Syahfitri Suryaningsi Welkom Universitas Al-Azhar Indonesia

Abstract

This research has a purpose to analyze the effect of macroeconomic conditions to the firm’s capital structure. The firms studied are non-financial firms which have gone public and listed in LQ45 Index during 2012 to 2021, totalling 19 firms. The data used are secondary data such as firms’ financial reports and macroeconomic data in 2012-2021 obtained from Indonesia Stock Exchange (IDX) and World Bank. The dependent variable is debt to equity ratio (DER) that represents the firm’s capital structure. The independent variables are GDP growth (GDPgrw) and inflation rate (INF) that represent the factors of macroeconomic. The model of this research is a dynamic panel data regression (System-GMM/generalized method of moments). The results of this study show that macroeconomic conditions have significant effect on the firm’s capital structure. The GDP growth has negative significant effect on the capital structure and inflation rate has positive significant effect on the capital structure.

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Published
2023-01-03
How to Cite
WELKOM, Syahfitri Suryaningsi. APAKAH KONDISI PEREKONOMIAN MEMPENGARUHI KEBIJAKAN STRUKTUR MODAL PERUSAHAAN PADA INDEKS LQ45?. JURNAL EKOBIS DEWANTARA, [S.l.], v. 6, n. 1, p. 390-400, jan. 2023. ISSN 2656-4149. Available at: <https://jurnalfe.ustjogja.ac.id/index.php/ekobis/article/view/3591>. Date accessed: 28 jan. 2023. doi: https://doi.org/10.26460/ed_en.v6i1.3591.