ANALISIS PENGARUH STRUKTUR MODAL TERHADAP PROFITABILITAS DENGAN PERTUMBUHAN LABA SEBAGAI VARIABEL MODERATING PADA PERUSAHAAN MANUFAKTUR DI BURSA EFEK INDONESIA

Jurnal Akuntansi Prima, Volume VI, Nomor I, Januari 2016

Rabu, 13 September 2017 15:33 | Sudah dibaca 533 kali

The objective of the research was to find out and to analyze the influence of debt structure such as short-term debt, long-term debt on profitability and to prove that earnings growth could moderate the correlation between debt structure (short-term debt, long-term debt, and total of debt) with profitability in manufacture companies listed in the Indonesia Stock Exchange. The research was causal research method; it used secondary data. The population was 136 manufacture companies listed in the Indonesia Stock Exchange in the period of 2010-2012, and 96 of them were used as the samples, taken by using purposive sampling technique. The data were analyzed by using multiple linear regression analysis, and interaction test for moderating variable. The result of the research showed that simultaneously debt structure (short-term debt, and long term debt) had significant influence profitability. Partially, short-term debt had positive and significant influence on profitability and long-term debt had negative and insignificant influence on profitability.Earnings growth as the moderating variable could moderate (weaken) the correlation between short-term debt with profitability, but it could not moderate the correlation between long-term debt and profitability.

Kata Kunci: Short-term Debt, Long-term Debt, Profitability, Firm Size, Sales Growth and Earnings Growth