PENENTU-PENENTU STRUKTUR MODAL PERUSAHAAN YANG SAHAMNYA MASUK JAKARTA ISLAMIC INDEX

Abstract

This study investigates the factors that influence capital structure i.e. debt to equity ratio (DER). Sales growth, asets growth, Return on Aset (ROA), firm size and liquidity are used as independent variable The determination of capital structure is management policy to obtain funds that can be used optimally. Syaria stocks have certain capital structure rule. Sample of this study is active stocks in Jakarta Islamic Index traded in the period of 2003-2005. Using purposive sampling, 11 stocks are included as sample. The result shows that Return on Aset effect negatively and firm size has positive influence on Debt Equity Ratio.

Keywords

• Growth of sales
• Growth of assets
• ROA
• Size
• Liquidity