Pengaruh Struktur Aktiva, Profitabilitas Dan Ukuran Perusahaan Terhadap Struktur Modal Pada Perusahaan Sektor Infrastruktur Di Bursa Efek Indonesia (BEI) Periode 2019-2024
DOI:
https://doi.org/10.31004/joecy.v6i1.8207Keywords:
Struktur Aktiva, Profitabilitas, Ukuran Perusahaan, Struktur Modal, Sektor InfrastrukturAbstract
Struktur modal merupakan keputusan keuangan strategis yang menentukan keseimbangan antara risiko dan pengembalian perusahaan, khususnya pada sektor infrastruktur yang bersifat padat modal dan berjangka panjang. Perubahan kondisi ekonomi global dan domestik selama periode 2019–2024 mendorong perusahaan infrastruktur untuk mengelola struktur pendanaan secara lebih efisien agar mampu menjaga keberlanjutan usaha. Penelitian ini bertujuan untuk menganalisis pengaruh struktur aktiva, profitabilitas, dan ukuran perusahaan terhadap struktur modal pada perusahaan sektor infrastruktur yang terdaftar di Bursa Efek Indonesia. Metode penelitian yang digunakan adalah pendekatan kuantitatif dengan data sekunder berupa laporan keuangan tahunan perusahaan selama periode pengamatan. Analisis data dilakukan menggunakan regresi linear berganda setelah melalui uji asumsi klasik. Hasil penelitian menunjukkan bahwa struktur aktiva berpengaruh terhadap struktur modal, yang mengindikasikan bahwa komposisi aset tetap memengaruhi kemampuan perusahaan dalam memperoleh pendanaan eksternal. Profitabilitas juga berpengaruh terhadap struktur modal, mencerminkan peran kemampuan internal perusahaan dalam menentukan keputusan pendanaan. Sementara itu, ukuran perusahaan terbukti berpengaruh terhadap struktur modal, yang menunjukkan bahwa skala perusahaan memengaruhi akses dan preferensi terhadap sumber pendanaan. Kesimpulan penelitian ini menegaskan bahwa keputusan struktur modal pada perusahaan sektor infrastruktur dipengaruhi oleh karakteristik aset, kinerja keuangan, dan skala perusahaan, sehingga diperlukan strategi pendanaan yang selaras dengan kondisi internal perusahaan dan dinamika sektor.
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