78 Scatterplots of the chart above shows that the dots randomly spread and
spread both above and below the number 0 on axis Y. It can be concluded that there is no Heteroskidastity the regression model, so the regression model
assumptions do not occur heteroskedastisitas.
D. Multiple Linear Regression Analysis
According to Priyatno 2011 used multiple linear regression analysis to determine the effect of two variables or more independent variables and the
dependent variable that is displayed in the form of regression equation. The independent variable is denoted by X
1
, X
2
, X
3
.... Xn while the dependent variable is denoted by Y. In the table below are the results of multiple linear regression
analysis.
Table 4.11 Results of Multiple Linear Regression Analysis
Coefficients
a
Model Unstandardized
Coefficients Standardized
Coefficients t
Sig. B
Std. Error
Beta 1 Constant
27 786 7942
3,498 .001
Liquidity .170
.053 .286
3,228 .002
Profitability -.466
.080 -.423
-5802 .000
Solvency .307
.057 .480
5,380 .000
Company Size -1.530
.376 -.344
-4074 .000
a. Dependent Variable: Capital Structure Source: Data processed Author, 2014
79 Multiple linear regression model based on the results of the above are:
Constanta = 27 786 Liquidity = 0.170
Profitability = - .466 Solvency = 0.307
Company size = -1.530 Y =
27 786 + 0.170 Liquidity – 0.466 Profitability + 0.307 Solvency -1.530
Company Size From the multiple linear regression equation above, are known to have
constant for 27 786, This suggests that if the independent variables assumed to be in steady state, then the dependent variable capital structure will rise by 27 786.
Coefficient X
1
= 0.170, indicating that Liquidity X
1
significant positive effect on the capital structure Y. That is, if Liquidity increased by one unit, then the
increase the capital structure will increase by 0.170. Coefficient X
2
= -0.466, show that Profitability X
2
significant negative effect on the capital structure Y. That is, if Profitability increased by one unit,
then the increase the capital structure will increase by -0466. Coefficient X
3
= 0.307, show that Solvency X
3
significant positive effect on the capital structure Y. That is, if Solvency increased by one unit, then the
increase the capital structure will increase by 0.307. Coefficient X
4
= -1.530, show that Company Size X
4
significant positive effect on the capital structure Y. That is, if Company Size increased by one unit,
then the increase the capital structure will increase by -1.530.
80 Multiple linear regression results above show that the variable Liquidity and
Solvency has a positive influence on the Capital Structure, while the variable profitability and company size has a negative effect on the capital structure.
E. Hypothesis testing 1. The Impact of Liquidity, Profitability, Solvency and Company Size on
Capital Structure Simultaneously
According to Priyatno, 2011 F-test was used to test the effect of all independent variables or independent variables together on the dependent variable
or the dependent variable. Criteria for decision-making are that if F counts F table then Ho is rejected and accept Ha Ghozali, 2005.84.
F-test results in this study can be seen in the following table:
Table 4.12 Test F Simultaneously
ANOVA
b
Model Sum of
Squares df
Mean Square F
Sig. 1
Regression 4433.988
4 1108.497
36 284 .000a
Residual 1680.273
55 30 550
Total 6114.262
59 a. Predictors: Constant, Company Size, Liquidity, Solvency, Profitability
b. Dependent Variable: Capital Structure Source: Data processed Author, 2015
81 Based on the data in the table above shows that the value of F is at 0,000
meaningful significance 0.05. Thus together Liquidity, Profitability, Solvency and Company Size influence the capital structure, Tested the hypothesis which
states that Liquidity, Profitability, Solvency and Company Size real effect on the capital structure acceptable.
2. The Impact of Liquidity, Profitability, Solvency and Company Size on Capital Structure Partially
According Priyatno 2011 t test is used to determine the effect of each independent variable on the dependent variable. Partial hypothesis testing
conducted to determine the effect liquidity, profitability, solvency and size of the companies on capital structure Decision criteria is if a significant level of 0.05
then Ho is rejected and accept Ha. The test steps are as follows Ghozali, 2005 a. Formulation determine Hypothesis
Ha: β = 0, meaning that the variable X
1
, X
2
, X
3
and X
4
have no significant effect partially to the variable Y.
H0: β = 0, meaning that the variable X
1
, X
2
, X
3
and X
4
has a significant influence partially to variable Y.
b. Determine the degree of confidence of 95 α = 0.05
c. Determine the significance The value of significance P value 0.05 then H0 is rejected and Ha accepted.
The value of significance P value 0.05 then H0 is accepted and Ha rejected.
82 T test results in this study can be seen in the following table:
Table 4.13 Partial Test Results t test
Coefficients
a
Model Unstandardized
Coefficients Standardized
Coefficients t
Sig. B
Std. Error
Beta 1 Constant
27 786 7942
3,498 .001
Liquidity .170
.053 .286
3,228 .002
Profitability -.466
.080 -.423
-5802 .000
Solvency .307
.057 .480
5,380 .000
Company Size -1530
.376 -.344
-4074 .000
a. Dependent Variable: Capital Structure Source: Data processed Author, 2015
Based on the table above, the t test results in this study can be explained as follows:
a. The Effect of Liquidity on Capital Structure
On Liquidity with a 95 significance level α = 0.05. Figures
significance P Value on Liquidity variable of 0.002 0.05. On the basis of this comparison, it means that liquidity has a positive and significant impact on
Capital Structure.
b. The Effect of Profitability on Capital Structure
Profitability at the 95 significance level α = 0.05. Figures significance
P Value on the profitability of 0.000 0.05. On the basis of this comparison, the profitability variable but significant negative influence on the capital structure.
83
c. The Effect of Solvency on Capital Structure
Solvency at the 95 significance level α = 0.05. Figures significance P
Value on the Solvency of 0.000 0.05. On the basis of this comparison, it means that the Solvency variables have positive and significant impact on the the capital
structure.
d. The Effect of Firm Size on Capital Structure
The size of the company at 95 significance level α = 0.05. Figures
significance P value to the variable size of the Companys 0.000 0.05. On the basis of this comparison, the mean size of the company has a negative effect, but
significant to Capital Structure.
F. Coefficient of Determination
