ANALYSIS OF THE EFFECT OF LIQUIDITY, SALES GROWTH, AND TANGIBILITY ON CAPITAL STRUCTURE WITH COMPANY SIZE MODERATION IN THE INFRASTRUCTURE SECTOR LISTED ON THE INDONESIA STOCK EXCHANGE (IDX) FOR THE PERIOD 2021-2024
DOI:
https://doi.org/10.5281/zenodo.18679495Keywords:
Capital Structure, Liquidity, Sales Growth, Tangibility, Company SizeAbstract
This study examines and analyzes factors that influence capital structure in the form of liquidity, sales growth, and tangibility with moderation of company size in the infrastructure sector listed on the IDX for the period 2021-2024. The method used in this study is quantitative with secondary data obtained through the publication of company financial reports on the IDX website or the company's official website. This study was conducted using panel data regression analysis and Moderated Regression Analysis (MRA) techniques to test the moderating relationship. The results show that liquidity has a negative effect on capital structure, while sales growth has a positive effect on capital structure. However, tangibility has no effect on capital structure. Furthermore, company size can only moderate tangibility on capital structure, while liquidity and sales growth cannot be moderated by company size. The implications of this study indicate the importance of liquidity management and cash flow stability in maintaining a company's capital structure and the utilization of fixed assets as collateral for companies, especially small-scale companies in obtaining debt.
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