Pengaruh Capital Structure Terhadap Profitabilitas Sebelum Dan Setelah Krisis Global (Studi : Pada Industri Telekomunikasi Yang Terdaftar Pada Bursa Efek Indonesia Pada Periode 2002 Sampai 2014)

Abstract

Abtraksi Penelitian ini bertujuan untuk menguji apakah pengaruh dari struktur modal, yang terdiri dari Debt to Equity Ratio, Debt to Asset Ratio, Long term Debt to Equity Ratio dan Long term Debt to Asset Ratio terhadap profitabilitas. Secara operasional penelitian ini bertujuan untuk menguji secara empiris: pengaruh struktur modal terhadap profitabilitas. Penelitian ini menggunakan data laporan keuangan Industri Telekomunikasi yang didapat dari Bursa Efek Indonesia,Icamel dan website resmi perusahaan periode 2002 hingga 2014. Metode pengumpulan data yang digunakan adalah purposive sampling dan diperoleh sebanyak 2 sampel perusahaan. Selanjutnya, pengujian terhadap seluruh hipotesis dalam penelitian ini menggunakan analisis regresi berganda dengan bantuan software Eviews 7. Temuan penelitian ini menunjukkan bahwa struktur modal yang diproksi dengan Debt to Equity Ratio, Debt to Asset Ratio, Long term Debt to Equity Ratio dan Long term Debt to Asset Ratio secara simultan berpengaruh signifikan terhadap profitabilitas baik sebelum maupun setelah terjadi krisis global pada industri telekomunikasi yang terdaftar di Bursa Efek Indonesia, sedangkan secara parsial Debt to Equity Ratio, Debt to Asset Ratio, Long term Debt to Equity Ratio juga memiliki pengaruh signifikan terhadap profitabilitas pada saat sebelum krisis global sedangkan Long term Debt to Asset Ratio tidak berpengaruh signifikan terhadap profitabilitas saat sebelum krisis global. Sedangkan setelah krisis global Debt to Equity Ratio, Debt to Asset Ratio, Long term Debt to Equity Ratio dan Long term Debt to Asset Ratio tidak memiliki pengaruh signifikan terhadap profitabilitas pada industri telekomunikasi. Penelitian ini juga menunjukkan bahawa terdapat perbedaan profitabilitas yang di proksi dengan Return on Equity krisis global dan setelah krisis global pada industri telekomunikasi yang terdaftar pada Bursa efek Indonesia.

Kata kunci: struktur Modal, Debt to Equity Ratio, Debt to Asset Ratio, Long term Debt to Equity Ratio dan Long term Debt to Asset Ratio, Return on Equity, Profitabilitas.

Abstract

This research examined to test whether the effect of capital structure, consisting of Debt to Equity Ratio, Debt to Asset Ratio, Long Term Debt to Equity Ratio and Long-term Debt to Asset Ratio of profitability. Operationally, this research aims to examine empirically: the influence of capital structure to profitability. This research using data Telecommunications Industry financial statements obtained from the Indonesia Stock Exchange, the company's official website and Icamel and the period 2002 to 2014. The data collection method used is purposive sampling and obtained as much as 2 sample companies. Furthermore, testing of the entire hypothesis in this study using multiple regression analysis by using Eviews 7 software. The result show capital structure consisting with Debt to Equity Ratio, Debt to Asset Ratio, Long Term Debt to Equity Ratio and Long-term Debt to Asset Ratio simultaneously significant effect on profitability both before and after the global crisis in the telecommunications industry listed on the Indonesia Stock Exchange, while partially Debt to Equity Ratio, Debt to Asset Ratio, Long Term Debt to Equity Ratio also have a significant impact on profitability in the moments before the global crisis, while Long Term Debt to Asset Ratio has no significant effect on profitability while before global crisis. Meanwhile, after the global crisis Debt to Equity Ratio, Debt to Asset Ratio, Long Term Debt to Equity Ratio and Long-term Debt to Asset Ratio does not have a significant impact on profitability in the telecommunications industry. This study also indicate where there are differences in profitability Return on Equity consisting with the global crisis and after the global crisis in the telecommunications industry listed on the Indonesian Stock Exchange.

Keywords : Capital Structure , Deb to Equity Ratio, Debt to Asset Ratio, Long term Debt to Equity Ratio dan Long term Debt to Asset Ratio, Return on Equity, Profitability.