PENGARUH SALES GROWTH, BUSINESS RISK, DAN ASSET STRUCTURE TERHADAP CAPITAL STRUCTURE PADA PERUSAHAAN SEKTOR PROPERTY DAN REAL ESTATE DI INDONESIA

NADYA DWINA PUTRI, . (2025) PENGARUH SALES GROWTH, BUSINESS RISK, DAN ASSET STRUCTURE TERHADAP CAPITAL STRUCTURE PADA PERUSAHAAN SEKTOR PROPERTY DAN REAL ESTATE DI INDONESIA. Sarjana thesis, UNIVERSITAS NEGERI JAKARTA.

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Abstract

Penelitian ini menganalisis pengaruh Sales Growth, Business Risk, dan Asset Structure terhadap Capital Structure pada perusahaan sektor property dan real estate di Indonesia periode 2021-2023. Data yang digunakan adalah Laporan Keuangan perusahaan terpublikasi di situs Bursa Efek Indonesia (BEI) yang mengalami laba secara berturut-turut selama periode 2021-2023. Metode yang digunakan adalah metode kuantitatif dan menggunakan analisis regresi data panel dengan 84 observasi melalui aplikasi EViews 12. Hasil penelitian menunjukkan bahwa sales growth berpengaruh positif terhadap capital structure, yang mengindikasikan bahwa pertumbuhan penjualan mendorong perusahaan untuk meningkatkan pembiayaan melalui utang guna mendukung ekspansi usaha. Sebaliknya, business risk berpengaruh negatif terhadap capital structure, dimana perusahaan cenderung lebih konservatif dan mengandalkan modal sendiri dalam pembiayaan daripada menambah utang ketika risiko bisnisnya tinggi. Asset structure juga berpengaruh negatif terhadap capital structure, yang menunjukkan bahwa tingginya proporsi aset tetap cenderung membuat perusahaan lebih mengandalkan pembiayaan internal. Hasil ini diharapkan dapat menjadi masukan bagi perusahaan, investor, dan regulator dalam merumuskan strategi pendanaan yang lebih optimal dan kontekstual pada sektor property dan real estate. ***** This study analyzes the effect of Sales Growth, Business Risk, and Asset Structure on Capital Structure in property and real estate sector companies in Indonesia during the 2021–2023 period. The data used are financial statements of companies published on the Indonesia Stock Exchange (IDX) that recorded consecutive profits during the research period. This research employs a quantitative method using panel data regression analysis with 84 observations, conducted through the EViews 12 application. **** The results show that sales growth has a positive effect on capital structure, indicating that increased sales encourage companies to raise debt financing to support business expansion. Conversely, business risk has a negative effect on capital structure, suggesting that companies tend to be more conservative and rely on internal equity rather than increasing debt when their business risk is high. Asset structure also has a negative effect on capital structure, implying that a high proportion of fixed assets tends to make companies depend more on internal financing. These findings are expected to provide insights for companies, investors, and regulators in formulating more optimal and contextual financing strategies for the property and real estate sector.

Item Type:	Thesis (Sarjana)
Additional Information:	1). Prof. Dr. I Gusti Ketut Agung Ulupui, S.E., M.Si., AK, CA. ; 2). Dr. Muhammad Yusuf, S.E., M.M.
Subjects:	Ilmu Sosial > Keuangan
Divisions:	FE > S1 Akuntansi
Depositing User:	Nadya Dwina Putri .
Date Deposited:	04 Aug 2025 05:27
Last Modified:	04 Aug 2025 05:27
URI:	http://repository.unj.ac.id/id/eprint/57415

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