The Influence of Liquidity, Profitability and Non-Debt Tax Shield on Capital Structure with Institutional Ownership as a Moderating Variable
Keywords:
Liquidity, profitability, Non Debt Tax Sheild, Capital Structure, Institutional Ownership.Abstract
This study aims to empirically prove the effect of liquidity, profitability, non-debt tax sheild on capital structure with institutional ownership as a moderating variable in manufacturing companies listed on the Indonesian stock exchange for the 2017-2021 period. The research time period used is 5 years, namely 2017-2021. The population of this study includes all manufacturing companies listed on the Indonesian stock exchange for the 2017-2021 period, totaling 60 companies. Tests in this study using E-Views 9 software. The sampling technique used purposive sampling technique. Based on predetermined criteria obtained 12 companies. The analytical method used is Moderate Regression Analysis (MRA). This test uses quantitative research methods. The results of this research show that partially liquidity and profitability have no effect on capital structure. while the non-debt tax sheild has a negative effect on capital structure. institutional ownership is not able to moderate the liquidity and profitability of transfer pricing. And the non-debt tax sheild is able to moderate the debt covenants on the capital structure.
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Copyright (c) 2024 Selmha Bella Arvhiari Selmha Bella Arvhiari, Dirvi Surya Abbas Dirvi Surya Abbas (Author)
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