Pengaruh Return On Equity (ROE), Struktur Aktiva, dan Current Ratio (CR) terhadap Struktur Modal Pada PT. Mayora Indah, Tbk Tahun 2015 – 2023

Shela Julien Septin; Eka Budi Yulianti; Morina Barus

doi:10.61132/jieap.v2i3.1547

Authors

Shela Julien Septin Universitas Tama Jagakarsa
Eka Budi Yulianti Universitas Tama Jagakarsa
Morina Barus Universitas Tama Jagakarsa

DOI:

https://doi.org/10.61132/jieap.v2i3.1547

Keywords:

Asset Structure, Capital Structure, Current Ratio , Financial Performance, Return on Equity

Abstract

This research aims to examine the effect of Return on Equity (ROE), Asset Structure, and Current Ratio (CR) on Capital Structure in the company PT Mayora Indah Tbk, which is listed on the Indonesia Stock Exchange (IDX) for the period 2015–2023. The data used in this study are secondary data obtained from the company’s annual financial reports during the research period. The research employs a quantitative approach, and the data sources are documentary in nature, focusing on publicly available financial statements.The analytical method used is multiple linear regression analysis, with data processing performed using SPSS software. This method allows the researcher to assess the impact of each independent variable on the dependent variable both partially and simultaneously. The results of the partial hypothesis testing indicate that the Return on Equity (ROE) variable has a positive and significant effect on Capital Structure, suggesting that higher profitability encourages the company to utilize more debt financing. On the other hand, the Asset Structure variable shows no significant negative effect on Capital Structure, indicating that the proportion of fixed assets does not play a decisive role in influencing capital structure in this case. Meanwhile, the Current Ratio (CR) has a negative and significant effect, implying that companies with higher liquidity tend to rely less on external debt. Simultaneously, the three variables—ROE, Asset Structure, and CR—have a significant influence on Capital Structure. These findings can serve as a reference for corporate financial management in optimizing capital structure decisions.

Downloads

Download data is not yet available.

References

Darwis, D., & Studi Sistem Informasi Akuntansi, P. (2022). Pengukuran Kinerja Laporan Keuangan Menggunalan Analisi Rasio Profitabilitas Pada Perusahaan Go Public. In Jurnal Ilmiah Sistem Informasi Akuntansi (JIMASIA) (Vol. 2, Issue 1).

Diviana, S., Putra Ananto, R., Andriani, W., Putra, R., Yentifa, A., & Siswanto, A. (2020). Penyajian Laporan Keuangan Entitas Berorientasi Nonlaba Berdasarkan ISAK 35 Pada Masjid Baitul Haadi. Jurnal Akuntansi Dan Manajemen, 15(2), 113–132.

Gunawan, A. (2020). Pengaruh Current Ratio Dan Debt To Equitty Ratio Terhadap Harga Saham Pada Perusahaan Plastik Dan Kemasan. In Sosek:Jurnal Sosial dan Ekonomi (Vol. 1, Issue 1).

Hamidi Sjurahudin, Yanti Heryanti, Muhammad Ongki Chniago, & Firman Wahyu Fahreza. (2023). Dampak Current Ratio, Dept to Asset Ratio terhadap Return on Assets pada PT Ace Harware Indonesia Tbk Periode 2012-2021. JUMANDIK. https://journal.lap4bangsa.org/index.php/jmeb/index

Helmi Herawati. (2019). Pentingnya Laporan Keuangan untuk Menilai Kinerja Keuangan Perusahaan. Jurnal Akuntansi Unihaz -JAZ, 02.

Kasrianti, Hety Budiyanti, Nurman, Ahmad Ali, & Muh. Ichwan Musa. (2023). Analisis Faktor-Faktor Yang Mempengaruhi Struktur Modal Pada Perusahaan Subsektor Makanan Dan Minuman Yang Terdaftar di Bursa Efek Indonesia. SINOMIKA Journal: Publikasi Ilmiah Bidang Ekonomi Dan Akuntansi, 1(6), 1467–1478. https://doi.org/10.54443/sinomika.v1i6.708.

Nenobais, A. H., Sia Niha, S., & Manafe, H. A. (2022). Pengaruh Return on Asset (ROA), Return on Equity (ROE), Net Profit Margin (NPM) dan Earning Per Share (EPS) terhadap Harga Saham (Suatu Kajian Studi Literatur Manajemen Keuangan Perusahan). https://doi.org/10.31933/jemsi.v4i1

Pramana, I. W. S., & Darmayanti, N. P. A. (2020). Profitabiitas, Struktur Aktiva, Dan Ukuran Perusahaan Berpengaruh Terhadap Struktur Modal Perusahaan Otomotif. E-Jurnal Manajemen Universitas Udayana, 9(6), 2127. https://doi.org/10.24843/ejmunud.2020.v09.i06.p04

Riesmiyantiningtias, N., & Siagian, A. O. (2020). Analisi Laporan Keuangan Untuk Menilai Kinerja Keuangan Perusahaan Pada PT. Midi Utama Indonesia Tbk. In Jurnal AKRAB JUARA (Vol. 5).

Riski Purnama, & Defia Riski Anggarini. (2020). Pengaruh Rasio Keuangan Terhadap Pertumbuhan Laba Pada Perusahaan Pertambangan Yang Terdaftar Di Bursa Efek Indonesia Periode Tahun 2015-2019. Jurnal TECHNOBIZ, Vol. 3, No. 2.

Rusmiati, M., & Huda, N. (2023). Pengaruh Return On Asset dan Return On Equity Terhadap Debt To Equity Ratio Pada PT Indocement Tunggal Prakarsa, Tbk. Jurnal Ilmiah Manajemen, Bisnis Dan Kewirausahaan, 3(3), 91–110. https://doi.org/10.55606/jurimbik.v3i3.525

Safutri, R., Dunakhir, S., & Azis, F. (2024). Pengaruh Current Ratio, Debt Equty Ratio, dan Return On Assets terhadap Price Book Value pada Perusahaan Pertambangan Subsektor Batu Bara yang Terdaftar di Bursa Efek Indonesia Periode 2020-2022. VISA: Journal of Visions and Ideas, 4(1), 382.

Septianingrum, L., Permanasari, R., & Budi Yulianti, E. (2023). Pengaruh Perputaraan Persediaan dan Perputaran Piutang Terhadap Profitabilitas PT. Astra Argo Lestari Tbk (2013-2022). 1(3), 111–120. http://jurnal.kolibi.org/index.php/

Stella Levina, & Elizabeth Sugiarto Dermawan. (2019). Pengaruh Profitabilitas, Likuiditas, Solvabilitas, Aktivitas, Dan Kebijakan Dividen Terhadap Harga Saham. Jurnal Multiparadigma Akuntansi, 1, 381–389.