<![CDATA[This research aims to determine the influence of sales growth and profitability on the capital structure of pharmaceutical companies on the Indonesia Stock Exchange during the period 2018-2021. The research population includes 11 pharmaceutical companies listed on the Indonesia Stock Exchange from 1981 to 2020. In this study, purposive sampling technique was used to select 9 companies as samples based on specific considerations. This research is explanatory in nature with a quantitative approach. Data analysis was carried out using multiple linear regression method with the assistance of Eviews 12 software. The t-test results show that, partially, only sales growth has a positive and significant impact on the capital structure, while profitability does not have a significant influence. However, the F-test results show that, simultaneously, sales growth and profitability have a significant influence on the capital structure of pharmaceutical companies. The research results indicate that 55.4% of the variation in the capital structure can be explained by sales growth and profitability, while the remaining 44.6% is influenced by other unexamined factors in this research model. In conclusion, sales growth plays an important role in shaping the capital structure of pharmaceutical companies, while profitability is not a significant determining factor.]]>
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