PENGARUH PROFITABILITAS, ARUS KAS, PERTUMBUHAN PENJUALAN, UKURAN PERUSAHAAN, DAN LIKUIDITAS TERHADAP KEBIJAKAN HUTANG SEKTOR CONSUMER GOODS INDUSTRY (CGI) (TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2016-2018)
Abstract
This study aims to analyze simultaneously and partially the effect of profitability, cash flow, sales growth, company size, and liquidity on the Consumer Goods Industry (CGI) sector of debt policy. Listed on the Indonesia Stock Exchange Period 2016-2018. The sampling method to be used in this study is the purposive sampling method, which is the sampling method according to these criteria. The companies that achieved the criteria in this study were 18 Consumer Goods Industry (CGI) companies on the Indonesia Stock Exchange in the period 2016 - 2018. The analysis used was panel data regression analysis to see the effect of independent variables on the dependent variable both individually and preceded by the classical assumption test that is the chow test, the hausman test, and the lagrange multiplier test. Hypothesis testing is done using the F test, the R aquared test and the T test. The results of this study provide information that profitability, cash flow, company size, and liquidity have no significant effect on the debt policy while the sales growth has a significant effect on the debt policy.
Keywords: Debt Policy, Profitability, Cash Flow, Sales Growth, Company Size, and Liquidity.
ABSTRAK
Penelitian ini bertujuan untuk menganalisis secara simultan dan parsial pengaruh profitabilitas, arus kas, pertumbuhan penjualan, ukuran perusahaan, dan likuiditas terhadap Kebijakan Hutang sektor Consumer Goods Industry (CGI). Yang terdaftar di bursa Efek Indonesia Periode 2016-2018. Metode sampling untuk digunakan dalam penelitian ini adalah metode purposive sampling yaitu metode pengambilan sampel sesuai kriteria tersebut. Perusahaan yang mencapai kriteria dalam penelitian ini sebanyak 18 perusahaan Consuumer Goods Industry (CGI) di BEI pada periode 2016 – 2018. Analisis yang digunakan yaitu analisis regresi data panel untuk melihat pengaruh variabel independen terhadap variabel dependen baik secara bersama-sama maupun secara individu yang didahului oleh uji asumsi klasik yaitu uji chow, uji hausman, dan uji lagrange multiplier. Pengujian hipotesis dilakukan dengan menggunakan uji F, uji R aquared dan uji T. Hasil penelitian ini memberikan informasi bahwa Profitabilitas, Arus Kas, Ukuran Perusahaan, dan Likuiditas tidak berpengaruh siginifikan terhadap Kebijakan Hutang sedangkan Pertumbuhan Penjualan Berpengaruh siginifikan terhadap Kebijakan Hutang.
Kata Kunci: Kebijakan Hutang, Profitabilitas, Arus Kas, Pertumbuhan Penjualan, Ukuran Perushaan, Dan Likuiditas.
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DOI: http://dx.doi.org/10.31000/dinamika.v4i2.10211
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