Research Paper
Year: 2020 | Month: June | Volume: 7 | Issue: 6 | Pages: 72-78
Analysis of the Effect of Capital Structure, Profitability, Liquidity and Growth on Capital Gain Stocks with Inflation as A Moderating Variable in Construction Companies Listed on The Indonesia Stock Exchange
Nurita Ardila1, Erwin Abubakar2, Sirojuzilam2
1Postgraduate Students Department of Accounting, Faculty of Economics and Business at Universitas Sumatera Utara, Indonesia
2Postgraduate Lecturer Department of Accounting, Faculty of Economics and Business at Universitas Sumatera Utara, Indonesia
Corresponding Author: Nurita Ardila
ABSTRACT
This study aims to determine the effect of capital structure, profitability, liquidity and growth on capital gain stocks. In addition, this study also uses a moderating variable, namely inflation. So that the other goal to be achieved in this study is to find out whether inflation can be used as a moderating effect of capital structure, profitability, liquidity and growth on capital gain stocks in Construction Companies listed on the Indonesia Stock Exchange. The nature of this research is an explanatory descriptive quantitative approach. This study uses secondary data accessed through the official website of the Indonesia Stock Exchange (IDX) at www.idx.co.id and Bank Indonesia (BI) at www.bi.go.id. The determination of the sample in this study was carried out using a purposive sampling method. This method it can be seen that the sample of this research is as many as 21 Construction Companies listed on the Indonesia Stock Exchange. The data analysis technique used in this study is panel data regression analysis and interaction testing conducted with the help of software eviews. The results in this study found that capital structure, profitability and growth partially have a positive and significant effect on capital gain stocks in Construction Companies listed on the Indonesia Stock Exchange. Liquidity has a negative and significant effect on capital gain stocks. Other findings show that inflation is not a moderating variable in the effect of capital structure, profitability, liquidity and growth on capital gain stocks.
Keywords: Capital Structure, Profitability, Liquidity, Growth, Capital Gain Stocks, .Inflation
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