<![CDATA[Belanja modal mampu membawa dampak bagi pertumbuhan ekonomi dan kesejahteraan masyarakat, tetapi pengelolaan dan pelaksanaan belanja modal pada pemerintah daerah masih belum optimal. Pemerintah pusat telah menetapkan target perkiraan alokasi belanja kebutuhan pemerintah daerah sebesar 30 persen dari anggaran belanja daerah. Akan tetapi, pemerintah daerah di Provinsi Jawa Timur masih belum bisa memenuhi target yang ditetapkan dimana rata-rata alokasi belanja modal sekitar 20 persen saja. Melalui penelitian ini diharapkan dapat diketahui pengaruh kinerja keuangan pemerintah daerah yang berupa rasio efektifitas PAD, rasio efisiensi keuangan, dan rasio kemandirian daerah terhadap alokasi belanja modal di kabupaten/kota Provinsi Jawa Timur selama periode tahun 2015-2019. Hasil analisis regresi linier berganda menunjukkan bahwa secara parsial ada dua variabel yang memiliki pengaruh signifikan terhadap alokasi belanja modal yaitu rasio efisensi keuangan dan rasio kemandirian daerah, sedangkan variabel rasio efektivitas PAD tidak berpengaruh signifikan terhadap alokasi belanja modal. Kata Kunci: kinerja keuangan, rasio, belanja modal. Abstract Capital expenditure is able to bring an impact to economic growth and community welfare, but the management and implementation of capital expenditures in local governments is still not optimal. The central government has set an estimated target of allocation of local government needs at 30 percent of the regional spending budget. However, the local government in East Java Province is still unable to meet the target set where the average allocation of capital expenditure is about 20 percent. Through this research, it is expected to be known the influence of local government financial performance in the form of PAD effectiveness ratio, financial efficiency ratio, and regional independence ratio to capital expenditure allocation in districts / cities of East Java Province during the period 2015-2019. The results of multiple linear regression analysis showed that partially there are two variables that have a significant influence on capital expenditure allocation, namely the ratio of financial efficiency and the ratio of regional independence, while the pad effectiveness ratio variable has no significant effect on capital expenditure allocation. Keywords: financial performance, ratio, capital expenditure]]>
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