PENGARUH STRUKTUR MODAL TERHADAP KINERJA KEUANGAN PERUSAHAAN MELALUI AGENCY COST SEBAGAI INTERVENING VARIABLE PADA PERUSAHAAN YANG TERINDIKASI MENGALAMI FINANCIAL DISTRESS

This research purposed to examine the effect of capital structure on financial company performance in companies that indicated experiencing financial distress; the effect of capital structure on agency cost in companies that indicated experiencing financial distress; the effect of agency cost on financial company performance in companies that indicated experiencing financial distress; and the indirect effect of capital structure on financial company performance through agency cost in companies that indicated experiencing financial distress. The population in this research is manufacturing companies listed in Indonesia Stock Exchange 2012-2014 period. The research sample was determined by using purposive sampling technique. The sample used was 49 manufacturing companies which met the research criteria. Data analysis techniques in this research using SPSS software version 17. Method analysis used in this research is path analysis. The results of this research indicate that (1) capital structure affect on financial company performance in companies that indicated experiencing financial distress; (2) capital structure affect negative on agency cost in companies that indicated experiencing financial distress; (3) agency cost affect on financial company performance in companies that indicated experiencing financial distress; (4) capital structure indirect affect on financial company performance through agency cost in companies that indicated experiencing financial distress.

Keywords : capital structure, financial company performance, agency cost, financial distress