Determinant of the Development on Capital Structure of Food and Beverage Companies Listed on Indonesia Stock Exchange (IDX) Period 2012-2016

Abstract

This study aims to examine and analyze the determinants of the development of the capital structure of food and beverage companies listed on the Indonesia Stock Exchange (IDX) 2012-2016 period. Research data is secondary data for a 5-year observation period. The sampling method used is purposive sampling. Of the population of 16 food and beverage companies listed on the IDX, 11 companies met the criteria of being a sample. The analytical method used in this study is panel data regression. The results of the study show that firm size and profitability have a significant positive effect, but the structure of assets and liquidity does not affect the capital structure.