Pengaruh Likuiditas dan Pertumbuhan Penjualan Terhadap Struktur Modal pada Perusahaan Sektor Tambang

Donna Reiko Kaylila, Ruswan Nurmadi

Abstract


This study aims to analyze the effects of liquidity and sales growth on capital structure in mining sector companies listed on the Indonesia Stock Exchange. Method: A quantitative approach with a causal associative design was employed. Secondary data were obtained from companies’ financial statements for the 2019–2023 period. Samples were selected using purposive sampling, resulting in 79 observations. Data were analyzed using multiple linear regression with IBM SPSS Statistics 26. Results: Liquidity has a negative and significant effect on capital structure, whereas sales growth has no significant effect. Simultaneously, liquidity and sales growth significantly affect capital structure. Implications: The findings indicate that liquidity is an important consideration in corporate financing decisions. Companies should optimize internal funding sources to reduce dependence on debt-based financing.

Keywords


Liquidity; Sales Growth; Capital Structure.

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