ANALISIS PENGARUH STRUKTUR MODAL TERHADAP PROFITABILITAS SERTA DAMPAKNYA TERHADAP NILAI PERUSAHAAN SUB SEKTOR TELEKOMUNIKASI YANG TERDAFTAR DI BURSA EFEK INDONESIA (BEI)

Abstract

Telecommunications growth in Indonesia is together with the growth of telecommunications sub-sector company in Indonesia, it"™s a good impact to the value of a companies in telecommunications sub-sector. This study aims to measure the effect of capital structure and profitability to value of company and indirect effect of capital structure to value of company with profitability as an intervening variable.

The sample using 6 companies in the telecommunications sub-sector. Types of data used are secondary data from the telecommunications sub-sector companies listed in Indonesia Stock Exchange for 4 years ie 2010, 2011, 2012 and 2013. Sampling was done by census or sampling saturated. Data analysis using path analysis technique or path analysis.

The test results showed that the capital structure is has a negative and significant effect to the profitability. Capital structures also has a negative and significant effect to value of company and profitability to value of company has no effect.

Keywords : Debt to Equity Ratio, Return on Equity, dan Price to Book Value.