The Effect of Return on Assets, Company Size, Current Ratio, and Asset Structure on Capital Structure

Muhamad Jusmansyah; Pambuko Naryoto; Said; Aris Wahyu Kuncoro

Muhamad Jusmansyah Universitas Budi Luhur
Pambuko Naryoto Universitas Budi Luhur
Said Universitas Budi Luhur
Aris Wahyu Kuncoro Universitas Budi Luhur

Keywords: Capital Structure, Return on Asset, Current ratio, Asset structure

Abstract

Capital structure is an important factor to maintain and ensure the continuity of the company, because the financial manager appointed by the company owner must be able to determine the optimal capital structure. In encouraging the rate of economic growth, namely by increasing the Islamic investment sector, where in 2019 investment awareness is still said to be low. However, since the pandemic, the number of investment awareness has doubled in 2020. The purpose of this study was to determine the effect of Return on Assets, Company Size, Current Ratio, and Asset Structure on Capital Structure. This research is quantitative research. The population in this study were Jakarta Islamic Index (JII) companies listed on the Indonesia Stock Exchange as many as 30 companies. Determination of the sample using purposive sampling method and obtained 11 companies. The research method used is multiple linear regression analysis, the tool for managing data is SPSS version 26. The results showed that Return on Asset has a positive and significant effect on capital structure, Current ratio and Company Size has a negative and significant effect on Capital Structure. While Asset Structure have no effect on Capital Structure in Jakarta Islamic Index (JII) companies listed on the Indonesia Stock Exchange for the period 2018-2022.

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