Pengaruh Struktur Modal Terhadap Harga Saham Dengan Ukuran Perusahaan Sebagai Variabel Moderasi Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia

Abstract

Increased corporate debt will result in a decrease in stock prices. A capital structure that
exceeds 100 percent indicates that the company uses more debt than its capital. Although
using debt, companies can make tax savings, using high debt can pose a high risk for the
company. The research was conducted with the aim of knowing whether capital structure
has an effect on stock prices moderated by company size. The research applies a quantitative
approach to achieve the goal. Measurement of capital structure in this study used the Debt
to Equity Ratio (DER) and Debt to Assets Ratio (DAR), stock price measurements used close
price data and data analysis used moderated regression analysis (MRA). The results of the
study show that the Debt to Asset Ratio (DAR) has a positive effect on stock prices. Debt to
Equity Ratio (DER) has no positive effect on stock prices. Firm size strengthens the
relationship between DAR and stock prices and weakens the relationship between DER and
stock prices. This influence can affect companies that have large enough assets, this
influence can attract investors to invest in the company