The Effect of Capital Structure and Liquidity on Profitability in Manufacturing Sector Companies Listed on the IDX
DOI:
https://doi.org/10.61402/sajmr.v3i1.226Keywords:
Struktur Modal, Likuiditas, Profitabilitas, Debt to Equity Ratio (DER), Current Ratio (CR)Abstract
This study aims to analyze the effect of capital structure and liquidity on profitability in manufacturing sector companies listed on the Indonesia Stock Exchange (IDX) for the period 2018–2023. The independent variables used are Debt to Equity Ratio (DER) as an indicator of capital structure and Current Ratio (CR) as an indicator of liquidity, while the dependent variable is Return on Assets (ROA) as a measure of profitability. The data used are secondary data obtained from the company's audited annual financial statements. The analysis was carried out using the multiple linear regression method after ensuring that the classical assumptions were met, including normality, multicollinearity, heteroscedasticity, and autocorrelation tests. The results of the study indicate that capital structure (DER) has a significant negative effect on profitability, while liquidity (CR) has a significant positive effect on profitability. These findings provide important implications for financial managers in managing capital structure and liquidity to improve the company's financial performance.
Downloads
References
Adel, B., & Younes, B. (2021). Dampak likuiditas dan struktur modal terhadap profitabilitas: Studi empiris perusahaan-perusahaan yang terdaftar di kawasan MENA. Jurnal Internasional Studi Keuangan, 9(2), 1–15.https://doi.org/10.3390/ijfs9020018
Brigham, EF, & Houston, JF (2019). Dasar-dasar Manajemen Keuangan (edisi ke-15). Cengage Learning.
Dang, C., Li, ZF, & Yang, C. (2018). Mengukur ukuran perusahaan dalam keuangan perusahaan empiris. Jurnal Perbankan & Keuangan, 86, 159–176.https://doi.org/10.1016/j.jbankfin.2017.09.006
Gitman, LJ, & Zutter, CJ (2020). Prinsip-prinsip Keuangan Manajerial (edisi ke-15). Pearson Education.
Hanafi, MM, & Halim, A. (2018). Analisis Laporan Keuangan. UPP STIM YKPN.
Kasmir. (2022). Analisis Laporan Keuangan (Edisi ke-12). RajaGrafindo Persada.
Mubeen, R., Han, D., Abbas, J., Hussain, I., & Kousar, S. (2021). Dampak tanggung jawab sosial perusahaan terhadap retensi karyawan di sektor perbankan: Peran mediasi kepuasan kerja dan komitmen organisasi. Economic Research-Ekonomska Istraživanja, 34(1), 1–24.https://doi.org/10.1080/1331677X.2020.1860793
Nassar, S. (2016). Dampak struktur modal terhadap kinerja keuangan perusahaan: Bukti dari Borsa Istanbul. Jurnal Bisnis & Keuangan, 5(2), 1–5.https://doi.org/10.4172/2167-0234.1000173
Ross, SA, Westerfield, RW, Jaffe, JF, & Jordan, BD (2021). Corporate Finance (edisi ke-13). McGraw-Hill Education.
Yusuf, I., & Olayemi, AS (2022). Manajemen likuiditas dan profitabilitas: Bukti dari perusahaan manufaktur yang terdaftar. Jurnal Keuangan dan Akuntansi, 10(2), 43–53.https://doi.org/10.11648/j.jfa.20221002.11
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2025 SAJMR : Southeast Asian Journal of Management and Research
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
