DETERMINASI FAKTOR MAKROEKONOMI TERHADAP STRUKTUR MODAL PADA PERUSAHAAN SEKTOR MAKANAN DAN MINUMAN DI BURSA EFEK INDONESIA PERIODE 2016-2025NIM.: 19108010119Mohamad Ismail HabibiauthorThis study aims to analyze the effect of macroeconomic factors consisting of Gross Domestic Product (GDP) Growth, Inflation, and Exchange Rate on Capital Structure proxied by the Debt to Equity Ratio (DER) in food and beverage sector companies listed on the Indonesia Stock Exchange (IDX) for the 2016–2025 period. The research approach used is quantitative causal-associative with purposive sampling techniques, yielding 5 large-cap sample companies and a total of 50 observation data. The data analysis method uses panel data regression with the Fixed Effect Model (FEM) approach via STATA 17 software. Based on the test results, partially, GDP Growth has no significant effect on DER due to the defensive nature of the industry and strong internal funding; Inflation has no significant effect on DER due to controlled national inflation levels and companies' pricing power in adjusting product prices; and the Rupiah Exchange Rate also has no significant effect on DER due to the effectiveness of risk mitigation strategies such as hedging and the dominance of Rupiah-based funding.330.9598 Ekonomi Indonesia2026-08-19UIN SUNAN KALIJAGA YOGYAKARTA;FAKULTAS EKONOMI DAN BISNIS ISLAMThesis