The Effect of Profitability, Asset Structure, Non-Debt Tax Shield, and Firm Size on Capital Structure

Jessica Jessica and Sofia Prima Dewi ()
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Jessica Jessica: Universitas Tarumanagara, Faculty of Economics and Business
Sofia Prima Dewi: Universitas Tarumanagara, Faculty of Economics and Business

A chapter in Proceedings of the Thirteenth International Conference on Entrepreneurship and Business Management UNTAR 2024 (ICEBM 2024), 2025, pp 253-262 from Springer

Abstract: Abstract The study endeavors to furnish empirical substantiation concerning the effect of profitability, asset structure, non-debt tax shield, and firm size on capital structure. Capital structure is assessed by DER, profitability is assessed by ROA, asset structure is assessed by SA, non-debt tax shield is assessed by NDTS, and firm size is indicated by SIZE. The research utilizes secondary data sourced from companies in the consumer non-cyclicals sector listed on the Indonesia Stock Exchange from 2021 to 2023. A purposive sampling technique was employed, yielding 30 companies for analysis. Data analysis was implemented through the use of E-Views version 12. The study reveals that profitability, asset structure, and firm size have no effect on capital structure, whereas non-debt tax shield has a positive on capital structure.

Keywords: Profitability; Asset Structure; Non-Debt Tax Shield; Firm Size; Capital Structure (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-809-7_20

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DOI: 10.2991/978-94-6463-809-7_20

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