Analisis Pengaruh Likuiditas terhadap Struktur Modal Bank Go – Public di Indonesia

Abstract

This study aims to determine the effect of liquidity on the capital structure of go-public banks in Indonesia. Capital structure as the dependent variable in this study is divided into three indicators excess tier 1 capital, short term leverage (STL) and non deposit leverage (NDL). Liquidity as an independent variable is calculated using the Herfindahl-Hirscham Index (HHI) indicator to see the concentration of liquid assets in banks. In this study there are five control variables competition, bank size, market to book, market return and dummy. This study uses descriptive quantitative research with a dynamic panel data regression model using the Generalized Method of Moment (GMM) estimation method. There are 47 go-public banking institutions in Indonesia which are the population in this study. The sample selection in this study was carried out using purposive sampling method, so that 39 banking institutions were selected that met the criteria according to what the researchers set. This study uses secondary data in the form of quarterly financial publication reports of each bank. The results obtained show that the independent variable liquidity has a significant negative effect on the dependent variable of excess tier 1 capital. It was also found that the independent variable of liquidity has a significant positive effect on the dependent variable of short term leverage (STL) and non deposit leverage (NDL).