The Influence Of Enterprise Size, Growth Opportunity, And Liquidity To Debt Ratio Of Consumption Goods Industry Corporations Listing On Indonesian Stock Exchange
Daftar Perusahaan Industri Barang Konsumsi yang Terdaftar di BEI
(Populasi dan Sampel)
No. Nama Perusahaan Kode Kriteria Penentuan Sampel Sampel 1 2 3 Makanan dan MinumanSampel 12
17 Hanjaya Mandala Sampoerna, Tbk HMSP ✔ ✔ ✔
Sampel 9
18 Bentoel Internasional Investama, Tbk
RMBA ✔ ✔ ✔
Sampel 10 Farmasi
19 Darya Varia Laboratoria, Tbk DVLA ✔ ✔ ✔
Sampel 11
20 Indofarma, Tbk
INAF ✔ ✔ ✔
21 Kimia Farma, Tbk KAEF ✔ ✔ ✔
16 Gudang Garam, Tbk GGRM ✔ ✔ ✔
Sampel 13
22 Kalbe Farma, Tbk KLBF ✔ ✔ ✔
Sampel 14
23 Merck, Tbk MERK ✔ ✔ ✔
Sampel 15
24 Pyridam Farma, Tbk PYFA ✔ ✔ ✔ Sampel 16
25 Schering Plough Indonesia, Tbk SCPI ✔ ✔
26 Taisho Pharmaceutical Indonesia, Tbk
SQBI ✔ ✔
27 Tempo Scan Pasific, Tbk TSPC ✔ ✔ ✔
Sampel 8
Sampel 7 Rokok
1 Akasha Wira Internasional, Tbk ADES ✔ ✔
INDF ✔ ✔ ✔
2 Tiga Pilar Sejahtera Food, Tbk AISA ✔ ✔
3 Tri Banyan Tirta, Tbk ALTO ✔ ✔
4 Cahaya Kalbar, Tbk CEKA ✔ ✔ ✔
Sampel 1
5 Davomas Abadi, Tbk DAVO ✔ ✔
6 Delta Djakarta, Tbk DLTA ✔ ✔ ✔
Sampel 2
7 Indofood CBP Sukses Makmur, Tbk
ICBP ✔ ✔
8 Indofood Sukses Makmur, Tbk
Sampel 3
ULTJ ✔ ✔ ✔
9 Multi Bintang Indonesia, Tbk MLBI ✔ ✔ ✔
Sampel 4
10 Mayora Indah, Tbk MYOR ✔ ✔
11 Prashida Aneka Niaga, Tbk PSDN ✔ ✔
12 Nippon Indosari Corporindo, Tbk ROTI ✔ ✔ ✔
Sampel 5
13 Sekar Laut, Tbk SKLT ✔ ✔ ✔
Sampel 6
14 Siantar Top, Tbk STTP ✔ ✔
15 Ultrajaya Milk Industry and Trading Company, Tbk
Sampel 17
Kosmetik dan Barang Keperluan Rumah Tangga
28 Martina Berto, Tbk MBTO ✔ ✔ ✔
Sampel 18
29 Mustika Ratu, Tbk MRAT ✔ ✔
30 Mandom Indonesia, Tbk TCID ✔ ✔ ✔
Sampel 19
31 Unilever Indonesia, Tbk UNVR ✔ ✔
Peralatan Rumah Tangga
32 Kedawung Setia Industrial, Tbk KDSI ✔ ✔ ✔
Sampel 20
33 Kedaung Indah Can, Tbk KICI ✔ ✔ ✔
Sampel 21
34 Langgeng Makmur Industri, Tbk LMPI ✔ ✔ ✔
Sampel 22
Data Variabel Hasil Penelitian
1. Ukuran Perusahaan = Log(Total Aktiva) Tahun No. Nama Perusahaan Kode 2009 2010 2011
1 Cahaya Kalbar, Tbk CEKA 11,75 11,92 11,91
2 Delta Djakarta, Tbk DLTA 11,88 11,85 11,84
3 Indofood Sukses Makmur, Tbk
INDF 13,60 13,67 13,72
4 Multi Bintang Indonesia, Tbk MLBI 11,99 12,05 12,08
5 Nippon Indosari Corporindo, Tbk ROTI 11,54 11,75 11,88
6 Sekar Laut, Tbk SKLT 11,29 11,29 11,33
7 Ultrajaya Milk Industry and Trading ULTJ 12,23 12,30 12,33 Company, Tbk
8 Gudang Garam, Tbk GGRM 13,43 13,48 13,59
9 Hanjaya Mandala Sampoerna, Tbk HMSP 13,24 13,31 13,28
10 Bentoel Internasional Investama, Tbk RMBA 12,63 12,69 12,80
11 Darya Varia Laboratoria, Tbk DVLA 11,89 11,93 11,96
12 Indofarma, Tbk
INAF 11,86 11,86 12,04
13 Kimia Farma, Tbk KAEF 12,19 12,21 12,25
14 Kalbe Farma, Tbk KLBF 12,81 12,84 12,91
15 Merck, Tbk MERK 11,63 11,63 11,76
16 Pyridam Farma, Tbk PYFA 10,99 11,00 11,07
17 Tempo Scan Pasific, Tbk TSPC 12,51 12,55 12,62
18 Martina Berto, Tbk MBTO 11,44 11,52 11,73
19 Mandom Indonesia, Tbk TCID 11,99 12,02 12,05
20 Kedawung Setia Industrial, Tbk KDSI 11,74 11,74 11,76
21 Kedaung Indah Can, Tbk KICI 10,92 10,93 10,94
22 Langgeng Makmur Industry, Tbk LMPI 11,73 11,78 11,83
Penjualan Tahun Lalu
Tahun No. Nama Perusahaan Kode 2009 2010 2011
1 Cahaya Kalbar, Tbk CEKA (0,39) (0,39) 0,72
2 Delta Djakarta, Tbk DLTA 0,07 (0,04) 0,15
3 Indofood Sukses Makmur, Tbk
INDF (0,04) 0,03 0,18
4 Multi Bintang Indonesia, Tbk MLBI 0,21 0,10 0,03
5 Nippon Indosari Corporindo, Tbk ROTI 0,26 0,25 0,32
6 Sekar Laut, Tbk SKLT 0,01 0,08 0,14
7 Ultrajaya Milk Industry and Trading ULTJ 0,18 0,16 0,11 Company, Tbk
8 Gudang Garam, Tbk GGRM 0,08 0,14 0,11
9 Hanjaya Mandala Sampoerna, Tbk HMSP 0,12 0,11 0,21
10 Bentoel Internasional Investama, Tbk RMBA 0,02 0,46 0,13
11 Darya Varia Laboratoria, Tbk DVLA 0,47 0,06 0,04
12 Indofarma, Tbk
INAF (0,23) (0,06) 0,14
13 Kimia Farma, Tbk KAEF 0,05 0,11 0,09
14 Kalbe Farma, Tbk KLBF 0,15 0,12 0,06
15 Merck, Tbk MERK 0,17 0,05 0,15
16 Pyridam Farma, Tbk PYFA 0,10 0,06 0,07
17 Tempo Scan Pasific, Tbk TSPC 0,23 0,14 0,12
18 Martina Berto, Tbk MBTO 0,20 0,09 0,14
19 Mandom Indonesia, Tbk TCID 0,12 0,05 0,12
20 Kedawung Setia Industrial, Tbk KDSI (0,10) 0,17 0,05
21 Kedaung Indah Can, Tbk KICI (0,10) 0,02 0,08
22 Langgeng Makmur Industry, Tbk LMPI 0,16 0,05 0,25
Kewajiban Lancar
Tahun No. Nama Perusahaan Kode 2009 2010 2011
1 Cahaya Kalbar, Tbk CEKA 4,89 1,67 1,68
2 Delta Djakarta, Tbk DLTA 4,53 6,33 6,00
3 Indofood Sukses Makmur, Tbk
INDF 1,16 2,04 1,91
4 Multi Bintang Indonesia, Tbk MLBI 0,65 0,94 0,99
5 Nippon Indosari Corporindo, Tbk ROTI 1,44 2,30 1,28
6 Sekar Laut, Tbk SKLT 1,89 1,92 1,70
7 Ultrajaya Milk Industry and Trading ULTJ 2,12 2,00 1,52 Company, Tbk
8 Gudang Garam, Tbk GGRM 2,46 2,70 2,24
9 Hanjaya Mandala Sampoerna, Tbk HMSP 1,88 1,61 1,75
10 Bentoel Internasional Investama, Tbk RMBA 2,08 2,50 1,12
11 Darya Varia Laboratoria, Tbk DVLA 3,05 3,72 4,83
12 Indofarma, Tbk
INAF 1,54 1,55 1,53
13 Kimia Farma, Tbk KAEF 2,00 2,43 2,75
14 Kalbe Farma, Tbk KLBF 2,99 4,39 3,65
15 Merck, Tbk MERK 5,03 6,22 7,51
16 Pyridam Farma, Tbk PYFA 2,10 3,00 2,54
17 Tempo Scan Pasific, Tbk TSPC 3,47 3,37 3,08
18 Martina Berto, Tbk MBTO 1,76 1,59 4,08
19 Mandom Indonesia, Tbk TCID 7,26 10,68 11,74
20 Kedawung Setia Industrial, Tbk KDSI 1,20 1,27 1,36
21 Kedaung Indah Can, Tbk KICI 5,53 7,34 7,26
22 Langgeng Makmur Industry, Tbk LMPI 2,78 1,76 1,06
Total Aktiva Tahun No. Nama Perusahaan Kode 2009 2010 2011
1 Cahaya Kalbar, Tbk CEKA 0,46 0,63 0,50
2 Delta Djakarta, Tbk DLTA 0,21 0,16 0,17
3 Indofood Sukses Makmur, Tbk
INDF 0,61 0,47 0,41
4 Multi Bintang Indonesia, Tbk MLBI 0,89 0,58 0,56
5 Nippon Indosari Corporindo, Tbk ROTI 0,51 0,19 0,28
6 Sekar Laut, Tbk SKLT 0,42 0,40 0,42
7 Ultrajaya Milk Industry and Trading ULTJ 0,31 0,35 0,35 Company, Tbk
8 Gudang Garam, Tbk GGRM 0,32 0,30 0,37
9 Hanjaya Mandala Sampoerna, Tbk HMSP 0,40 0,50 0,47
10 Bentoel Internasional Investama, Tbk RMBA 0,59 0,56 0,64
11 Darya Varia Laboratoria, Tbk DVLA 0,29 0,24 0,21
12 Indofarma, Tbk
INAF 0,58 0,57 0,45
13 Kimia Farma, Tbk KAEF 0,36 0,32 0,30
14 Kalbe Farma, Tbk KLBF 0,26 0,17 0,21
15 Merck, Tbk MERK 0,18 0,16 0,12
16 Pyridam Farma, Tbk PYFA 0,26 0,23 0,30
17 Tempo Scan Pasific, Tbk TSPC 0,25 0,26 0,28
18 Martina Berto, Tbk MBTO 0,67 0,64 0,26
19 Mandom Indonesia, Tbk TCID 0,11 0,09 0,09
20 Kedawung Setia Industrial, Tbk KDSI 0,56 0,54 0,52
21 Kedaung Indah Can, Tbk KICI 0,27 0,25 0,26
22 Langgeng Makmur Industry, Tbk LMPI 0,26 0,34 0,40
Hasil Output Data Statistik Deskriptif Descriptive Statistics N Minimum Maximum Mean Std. Deviation enterprise size
66 10,92 13,72 12,1103 ,72081 growth opportunity 66 -,39 ,72 ,1047 ,15966 likuiditas 66 ,65 11,74 3,1018 2,28201 Debt Ratio 66 ,09 ,89 ,3680 ,16919 Valid N (listwise)
66
Hasil Output Data Uji Normalitas
One-Sample Kolmogorov-Smirnov Test Unstandardized Residual
N
66 Normal Parameters a,,b Mean ,0000000 Std. Deviation ,11547561 Most Extreme Differences Absolute ,127 Positive ,127
Negative -,068 Kolmogorov-Smirnov Z 1,030 Asymp. Sig. (2-tailed) ,240 a. Test distribution is Normal.
b. Calculated from data.
Uji Heterokedastisitas (Scatterplot)
Uji Multikolinearitas Coefficients
a
Model Collinearity StatisticsTolerance
VIF 1 (Constant) enterprise size ,945 1,059 growth opportunity ,981 1,019 likuiditas ,942 1,062
Uji Koefisien Determinasi (R
2 ) Model Summary b Model R R Square Adjusted R
Square Std. Error of the Estimate 1 ,731 a
,534 ,512 ,11824
a. Predictors: (Constant), likuiditas, growth opportunity, enterprise size
b. Dependent Variable: Debt Ratio Model Summary b
Model R R Square Adjusted R Square Std. Error of the
Estimate Durbin-Watson 1 ,731 a ,534 ,512 ,11824 1,831
a. Predictors: (Constant), likuiditas, growth opportunity, enterprise size
b. Dependent Variable: Debt Ratio
a. Dependent Variable: Debt Ratio
b
ANOVA Model Sum of Squares Df Mean Square F Sig. a1 Regression ,994 3 ,331 23,698 ,000 Residual ,867 62 ,014 Total 1,861
65
a. Predictors: (Constant), likuiditas, growth opportunity, enterprise size
b. Dependent Variable: Debt Ratio Uji Parsial (Uji t) a
Coefficients Standardized Unstandardized Coefficients Coefficients
Model B Std. Error Beta t Sig.
1 (Constant) ,594 ,259 2,297 ,025
enterprise size -,003 ,021 -,014 -,154 ,878 growth opportunity -,174 ,093 -,164 -1,876 ,065 likuiditas -,054 ,007 -,734 -8,216 ,000 a. Dependent Variable: Debt Ratio