The Effect of Institutional Ownership, Company Size, Profitability, and Tangibility on Capital Structure in Non-Cyclical Consumer Sector Companies Listed on the Indonesia Stock Exchange

This study examines the influence of several factors on capital structure in response to varied findings from previous research. It investigates whether institutional ownership, company size, profitability, and tangibility impact capital structure decisions. Utilizing secondary data from non-cyclical consumer sector companies listed on the Indonesia Stock Exchange between 2018 and 2022, the study employs a purposive sampling method to select 67 companies, yielding 335 data points for analysis through multiple regression techniques. The findings indicate that institutional ownership and profitability significantly affect capital structure, while company size and tangibility show no significant influence. Future research could enhance the study by incorporating additional independent variables or expanding the sample size to bolster the robustness
of results, building upon existing literature.