FAKTOR PENENTU STRUKTUR MODAL DAN DAMPAKNYA TERHADAP NILAI PERUSAHAAN (STUDI PADA PERUSAHAAN YANG TERDAFTAR DI BEI)

This study aims to examine determinant factors of capital structure and their effect on firm value. Those factors consisted of stock return, firm size, volatility, expected growth, and profitability. Based on simple random sampling method, this research gathered 60 firms (120 observation) as sample. The Data were analized by using multiple regression analysis. This research found that profitability, expected growth, volatility, and stock return influence significant negatively on capital structure/debt ratio. Firm size influenced significant positively on capital structure/debt ratio and debt ratio influence significant positively on firm value. The results of this research indicated that the higher profitability, the higher equity proportion, and the lower payable proportion. Firm size indicated that large firms were tend to have less risk for going bankrupt than the small one. Thus, large firms were easily used external fund/debt