RELEVANSI DEBT TO EQUITY RATIO DAN PERTUMBUHAN PENJUALAN TERHADAP RETURN ON ASSET PERUSAHAAN RETAIL YANG TERDAFTAR DI BURSA EFEK INDONESIA

Penulis

  • Furniawan Universitas La Tansa Mashiro

DOI:

https://doi.org/10.55171/apjms.v11i3.1307

Abstrak

Financial performance is an analysis conducted to assess how well a company operates its business by adhering to sound financial rules. It reflects the company's achievements over a period, including capital adequacy, liquidity, and profitability. This study aims to analyze the impact of capital structure and sales growth on the performance of retail companies listed on the Indonesia Stock Exchange (IDX). The study population comprises retail companies listed on the IDX. The sample was determined using purposive sampling based on specific criteria, resulting in 14 companies with 70 financial report data points. Secondary data were utilized, and multiple linear regression analysis was conducted using SPSS 20. The results indicate that capital structure (DER) negatively and significantly affects performance (ROA), while sales growth positively and significantly impacts performance. Together, capital structure and sales growth positively and significantly influence company performance. Future researchers are advised to expand the sample of companies listed on the IDX and consider using Debt to Asset Ratio (DAR) to measure the relationship between total debt and total assets. This variable is considered more relevant to improving company performance.

Referensi

Ayuningtyas, A. H., & Mawardi, W. (2022). Analisis Pengaruh Struktur Modal, Ukuran Perusahaan, Tangibilitas dan Pertumbuhan Penjualan Terhadap Kinerja Keuangan Perusahaan Dengan Good Corporate Governance Sebagai Variabel Moderasi. 11, 1–13.

Fadilah, T. N., Jhoansyah, D., Ramdan, A. M., Bisnis, J. A., Sukabumi, U. M., & Barat, J. (2022). Analisis Struktur Modal , Pertumbuhan Penjualan Dan Ukuran Perusahaan Tehadap Kinerja Perusahaan ( Studi Keuangan Pada Perusahaan Subsektor Makanan dan Minuman yang Terdaftar di Bursa Efek Indonesia Periode 2017-2020 ). 7(2), 288–297.

Fahmi, I. (2011). Analisis Kinerja Keuangan. ALFABETA, cv. www.cvalfabeta.com

Furniawan, F. (2022). Tinjauan Kinerja Keuangan: Analisis Current Ratio dan Debt to Equity Ratio Terhadap Return on Equity dalam Industri Tekstil dan Garmen di Bursa Efek Indonesia (BEI). The Asia Pacific Journal of Management Studies, 9(1).

Hutabarat, F. (2020). Analisis Kinerja Keuangan Perusahaan (M. A. Gita Puspitasari (ed.)). Desanta Muliavisitama.

Krisyadi, R., & Rionaldo, L. (2021). Analisis Pengaruh Struktur Modal dan Tata Kelola Perusahaan terhadap Kinerja Perusahaan pada Perusahaan yang Terdaftar di Bursa Efek Indonesia. Jurnal Akuntansi Dan Pajak, 22(01), 1-18.

James C. Van Horne and John M. Wachowicz, J. (2013). Prinsip-Prinsip Manajemen Keuangan (Fundamentals of Financial Management) (E. S. Suharsi (ed.); Ke-13). Salemba Empat. www.penerbitsalemba.com

Jayanti, A. D. (2020). Pengaruh Intellectual Capital, Ukuran Perusahaan dan Pertumbuhan Penjualan Terhadap Kinerja Perusahaan. Jurnal Ilmu Dan Riset Akuntansi, 9(7), 1–18.

Kasmir. (2021). Pengantar Manajemen Keuangan (Suwito (ed.); Kedua). Prenadamedia Group. www.prenadamedia.com

Mursidah, Y. dan F. R. (2023). Pengaruh Free Cash Flow, Pertumbuhan Penjualan dan Likuiditas Terhadap Kinerja Keuangan Perusahaan Pada Perusahaan Manufaktur Sub Sektor Aneka Industri Yang Terdaftar di Bursa Efek Indonesia Periode 2019-2021. Jurnal Akuntansi Dan Keuangan (JAK), 11(1), 89–100. https://doi.org/DOI: https://doi.org/10.29103/jak.v11i1.10331

Prabasari, B., & Amalia, N. R. (2022). Pengaruh Sales Growth Dan Capital Structure Terhadap Financial Perfomance. Solusi, 20(3), 230. https://doi.org/10.26623/slsi.v20i3.5357

Prakasiwi, A. E., Sukesti, F., & Sinarasri, A. (2019). Analisis Pengaruh Ukuran Perusahaan , Pertumbuhan Penjualan , Laba Bersih dan Rasio Hutang Terhadap Kinerja Perusahaan Manufaktur yang Terdaftar Dibursa Efek Indonesia Tahun 2014-2018. Prosiding Mahasiswa Seminar Nasional Unimus, 2(0), 506–516.

Purwaningsih, E., & Kurniawati, E. (2022). Pengaruh Modal Intelektual, Struktur Modal dan Pertumbuhan Penjualan Terhadap Kinerja Keuangan. Tirtayasa Ekonomika, 17(1), 15. https://doi.org/10.35448/jte.v17i1.12291

Sari, E. F. (2018). The Effect of Corporate Governance, Corporate Size, Leverage and Sales Growth on Company Financial Performance. Jurnal Ilmu Manajemen, 6(4), 435–444.

Sugiyono. (2017). Metode Penelitian Kuantitatif (M. P. Setiyawami, S.H. (ed.)). ALFABETA, cv. www.cvalfabeta.com

Yuliani, E. (2021). Pengaruh Struktur Modal, Likuiditas dan Pertumbuhan Penjualan Terhadap Kinerja Keuangan. Jurnal Ilmu Manajemen, 10(2), 111. https://doi.org/10.32502/jimn.v10i2.3108

www.idx.co.id

www.idnfinancials.com.

Unduhan

Diterbitkan

2024-12-15

Terbitan

Vol 11 No 3 (2024)

Bagian

Artikel

Lisensi

Hak Cipta (c) 2024 Furniawan

Creative Commons License

Artikel ini berlisensiCreative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.

Proposed Policy for Journals That Offer Open Access. Authors who publish with this journal agree to the following terms:
  • Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
  • Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
  • Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).

 

Proposed Policy for Journals That Offer Delayed Open Access.Authors who publish with this journal agree to the following terms:
  • Authors retain copyright and grant the journal right of first publication, with the work [SPECIFY PERIOD OF TIME] after publication simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
  • Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
  • Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).