THE INFLUENCE OF COMPANY SIZE, PROFITABILITY, ASSET STRUCTURE, AND LIQUIDITY ON THE CAPITAL STRUCTURE OF INFRASTRUCTURE SECTOR COMPANIES LISTED ON INDONESIAN STOCK EXCHANGE IN 2021-2023

Abstract

The purpose of this study is to determine how the influence of company size, profitability, asset structure, and liquidity on capital structure. This research focuses on infrastructure companies listed on the Indonesia Stock Exchange from 2021 to 2023. The research sample selection was carried out using purposive sampling technique, with a final observation count of 95. The data were compiled from Annual Financial Statements of infrastructure companies which were then processed using panel data regression analysis with Eviews 12 software. The results of this study reveal that company size has a positive impact on capital structure, profitability and liquidity have a negative impact on capital structure, while asset structure has no impact on capital structure. This research is expected to be a reference in decision making to improve capital structure through optimizing these factors, as well as providing valuable information for stakeholders in the decision making process.