PENGARUH KEBIJAKAN HUTANG, STRUKTUR MODAL DAN PROFITABILITAS TERHADAP AKTIVITAS INVESTASI PERUSAHAAN MANUFAKTUR BARANG KONSUMSI YANG TERDAFTAR DI BURSA EFEK INDONESIA

Abstract

Abstract

This study aims to analyz: the debt policy, capital structure and profitability to the investment activity both partially and simultaneously on consumer goods manufacturing companies listed in Indonesia Stock Exchange. The variables studied were Debt to Total Assets ratio (DAR) as an indicator of debt policy, Debt to equity ratio (DER) as an indicator of capital structure and Return On Capital Employed (ROCE) as an indicator of profitability, and Fix Asset ratio (FAT) as an indicator of investment activity. The type of research is associative causal research. The sampling method used is purposive sampling, from 17 companies manufacturing consumer goods, 10 is used as a sample in this study from 2011-2014. The data used are annual reports of each company, published through the website www.idx.co.id by using SPSS version 18 as the tool to analyze and use multiple linear regression statistical analysis. The Results of this study is the policy of debt and profitability is partially significant effect on the activity of investment in capital structure whereas no significant effect partially on investment activity in the Consumer Goods Manufacturing Company Listed in Indonesia Stock Exchange. In addition, debt policy, capital structure, and profitability simultaneously significant effect on investment activity in the Consumer Goods Manufacturing Company Listed in Indonesia Stock Exchange.