This research aimed to discover the effect of asset structure, profitability,
diversification operational, liquidity, and ownership institutional on capital
structure. Secondary data in the form of annual financial report listed on
Indonesia Stock Exchange from 2015 to 2017. Data analysis method employed in
this research was multiple regression analysis. The number of samples in this
study were 99 data from consumer goods companies for 3 years period. The
samples were taken using purposive sampling technique. The research results
indicated that asset structure positively have positive effect on capital structure.
While profitability, operational diversification, and liquidity have negative effect
on capital structure. On the other hand, ownership institutional did not affect the
capital structure.