DETERMINAN STRUKTUR MODAL PADA PERUSAHAAN PERTAMBANGAN SUB SEKTOR BATUBARA DAN NON BATUBARA YANG LISTED DI BURSA EFEK INDONESIA

Abstract

Capital structure decisions is a financial decisions relating to the composition of debt to equity that must be used by the company. Each company managers must be able to gather and manages internal and external funds efficiently in order to preserved continuity of operations. This research aimed to analyzing the factors that affect the capital structure decisions in the sub sector of coal mining and a non coal mining companies. Factors examined include cost of debt, business risk, firm size, growth, dividend policy, and profitability. In addition, this research also aimed to assess the differences influence of those factors to the capital structure decision in the sub sector of coal mining and non coal mining companies. This research uses secondary data from company financial statements during the period 2008-2012 were obtained from the official website of the Indonesia Stock Exchange (www.idx.co.id) and the Indonesian Capital Market Directory. Based on census method, 17 companies on sub sector of coal mining and 14 companies on sub sector of non coal mining were included in the research. This research applied multiple linear regression analysis and Chow test.