Effect of Debt To Equity Ratio, Firm Size and Sales Growth on Return on Assets In Manufacturing Companies ‘Food and Beverage’ Listed on the Indonesia Stock Exchange (IDX)
DOI:
https://doi.org/10.35877/454RI.qems1940Keywords:
Debt to Equity Ratio, Firm Size, Sales Growth, Return on AssetAbstract
This study aims to determine whether there is an effect of debt to equity ratio, firm size and sales growth on return on assets. Researchers used quantitative methods with descriptive and verification approaches as a research method. Secondary data is used as data. The population of this study are 24 food and beverage manufacturing companies listed on the Indonesia Stock Exchange in 2019-2022. The sampling technique uses saturated samples so that a sample of 24 companies is obtained. To measure the effect of the independent variable on the dependent variable, researchers used panel data regression analysis, classical assumption test, goodness of fit test and hypothesis testing. The results of the T test show that the debt to equity ratio has a negative and significant effect on ROA partially. Firm Size has no effect on ROA and Sales Growth has no effect on ROA. The results of the F test show that simultaneously debt to equity ratio, firm size and sales growth have a significant effect on return on assets
References
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Ang, Robert. (1997). Buku pintar pasar modal Indonesia. Jakarta: Mediasoft Indonesia.
Anggarsari, Lovi, & Aji, Tony Seno. (2018). Pengaruh ukuran perusahaan, leverage, likuiditas, perputaran modal kerja dan pertumbuhan penjualan terhadap profitabilitas (sektor industri barang dan konsumsi yang terdaftar di bursa efek indonesia periode 2013-2016). Jurnal Ilmu Manajemen (JIM), 6(4), 542–549.
Brigham, E. F., & Houston, J. F. (2016). Dasar-Dasar Manajemen Keuangan. Edisi 14. Buku 1. Terjemahan NI Sallama dan F. Kusumastuti. Salemba Empat. Jakarta.
Cahyaningati, Retno, Lukiana, Ninik, Wiyono, M. Wimbo, Kasno, Kasno, Sholihin, Muhammad Rizalus, & Juliasari, Deni. (2022). The Effect of Covid 19 on Company Performance in Manufacturing Companies in Indonesia. IJEBD (International Journal of Entrepreneurship and Business Development), 5(1), 175–187.
Dananti, Kristyana, Nany, Magdalena, & Gusmao, Eunike Frentelina. (2022). Analysis of the Financial Performance of Food and Beverage Companies Before and During the Covid-19 Pandemic in Indonesia. International Journal of Social Science, 1(6), 977–986.
Dj, Yunni Rusmawati. (2016). Pengaruh Ukuran Perusahaan, Struktur Hutang, Dan Umur Perusahaan Terhadap Profitabilitas Pada Perusahaan Food & Beverages Di Bursa Efek Indonesia Tahun 2012-2014. Jurnal Penelitian Ekonomi Dan Akuntansi (JPENSI), 1(2), 16-Halaman.
Edison, Acep. (2019). Metode riset untuk bisnis dan manajemen. Bandung: Universitas Widyatama.
Eksandy, Arry, & Dewi, Vera Mustika. (2019). Pengaruh perputaran modal kerja, perputaran piutang dan perputaran kas terhadap profitabilitas perusahaan (studi pada perusahaan konstruksi sektor infrastruktur di bursa efek Indonesia periode 2012?2015). Jurnal Dinamika UMT, 2(2), 1–14.
Fatimah, Ika Siti, Anjani, Lulu Alfiatun, & alfianika Kurniati, Rani. (2022). FAKTOR-FAKTOR YANG BERPENGARUH TERHADAP PROFITABILITAS PERUSAHAAN MANUFAKTUR SEKTOR SEMEN. Medikonis, 13(2), 70–76.
Hama, Aloisius, & Santosa, H. Pudjo. (2018). Effect of Working Capital, Company Size, and Company Growth on Profitability and Company Value. International Journal of Social Sciences, 4(2), 694–708.
Hantono, Hantono. (2021). The Effect of Current Ratio, Debt to Equity, Sales Growth Towards Return on Asset At Consumer Good Companies Listed In Stock Exchange. International Journal of Engineering Science Technologies, 4(6), 60–70.
Harahap, Sofyan Syafri. (2011). Analisis kritis atas laporan keuangan.
Hartono, Jogiyanto. (2015). Teori Portofolio dan Analisis Investasi (Edisi Kese). Yogyakarta: BPFE.
Hayati, Dian Ratu, Liztiara, Maisya, & Muchtar, Susy. (2022). Debt financing and firm performance on manufacturing companies listed on the idx. Jurnal Ekonomi, 27(1), 80–93.
Helfert, Erich A. (1996). Teknik analisis keuangan: petunjuk praktis untuk mengelola dan mengukur kinerja perusahaan. Jakarta: Erlangga.
Irham, Fahmi. (2012). Analisis laporan keuangan. Bandung: Alfabeta.
Kasmir, Dr. (2012). Analisa Laporan Keuangan. Jakarta: Raja Grafindo Persada.
Larasati, Chesa Ivania, & Purwanto, Purwanto. (2022). How financial ratios and firm size affect profitability: Evidence from food and beverages industry in Indonesia. The Winners, 23(1), 43–50.
Lestari, Lina Puji, Wahyuni, Sri, Dirgantari, Novi, & Santoso, Selamet Eko Budi. (2022). Effect of Working Capital Turnover, Capital Structure, Company Size, and Sales Growth on Profitability. Journal of Finance and Business Digital, 1(4), 271–288.
Linggasari, Dewa Ayu Nyoman Yogi, & Adnantara, Komang Fridagustina. (2020). Pengaruh Der, Firm Size, Cr, Dan Wcto Terhadap Roa Pada Perusahaan Manufaktur Yang Terdaftar Di Bei Periode 2016-2018. Journal Research of Accounting, 2(1), 33–49.
Munawir, Selamet. (2000). Analisa laporan Keuangan, liberty. Yogyakarta.
Mutiara, Yosia Taruli, Zakaria, Adam, & Anggraini, Ratna. (2018). The influence of company size, company profit, solvency and CPA firm size on audit report lag. Journal of Economics Finance and Accounting, 5(1), 1–10.
Norfadilah, Norfadilah, & Sudarsono, Bambang. (2021). Pengaruh Modal Kerja, Financial Leverage, Aktivitas dan Firm Size terhadap Profitabilitas Pada Perusahaan Manufaktur Sub Sektor Makanan dan Minuman yang Terdaftar Di Bursa Efek Indonesia (BEI) Periode 2015-2019. Jurnal Kajian Ilmu Manajemen (JKIM), 1(4).
Nur, Latief Z., & Mahiri, Eli Achmad. (2022). The Effect Of Sales Growth And Company Size On Profitability (Study On Food Sub-Sector Companies On The Indonesia Stock Exchange For The 2019-2021 Period). Enrichment: Journal of Management, 12(2), 2409–2418.
Pangalila, Jovan Leonard Mahesa. (2020). THE INFLUENCE OF LEVERAGE AND COMPANY SIZE ON PROFITABILITY (Study on Manufacturing Companies Listed in Indonesia Stock Exchange). Jurnal Ilmiah Mahasiswa FEB, 9(1).
Putra, A. A. Wela Yulia, & Badjra, Ida Bagus. (2015). Pengaruh leverage, pertumbuhan penjualan dan ukuran perusahaan terhadap profitabilitas. Udayana University.
Putri, Michelle Claudia, & Sugia, Elizabeth. (2020). Faktor-Faktor YAng Mempengaruhi Kinerja Keuangan Pada Perusahaan Manufaktur. Jurnal Paradigma Akuntansi, 2(1), 469–477.
Ramli, Dian, & Yusnaini, Yusnaini. (2022). Pengaruh Sales Growth, Debt To Equity Ratio, Total Assets Turnover Terhadap Return On Assets Pada Perusahaan Property Dan Real Estate Yang Terdaftar Di Bursa Efek Indonesia 2018-2020. Owner: Riset Dan Jurnal Akuntansi, 6(1), 722–734.
Simatupang, Jumeida, & Sari, Eka Purnama. (2021). Effect of Working Capital, Asset Turnover and Sales Growth Limited Return on Assets on Food and Beverage Industry. International Journal of Business Economics (IJBE), 2(2), 143–154.
Statistik, Badan Pusat. (2022). Statistik Indonesia 2021. Badan Pusat Statistik.
Suriadi, Laurensky. (2013). Pengaruh Sales Growth, Debt to Equity Ratio, dan Deviden Payout Ratio Terhadap Return on Asset. Jurnal Bisnis Dan Akuntansi. Jakarta: Universitas Esa Unggul.
Sutia, Sabar. (2022). Effect of Capital Structure and Sales Growth on Profitability (Empirical Study on Sub-Manufacturing Companies) Food and Beverage Sector Listed on Stock Exchange Indonesia Period 2016-2020. Journal of Business, Management, & Accounting, 4(2), 18–29.
Tanjung, Gusni. (2014). ANALISIS FAKTOR-FAKTOR YANG MEMPENGARUHI PERTUMBUHAN MODAL SENDIRI PADA INDUSTRI PROPERTI, REAL ESTATE DAN KONSTRUKSI BANGUNAN.
TEBIONO, JUAN NATHANAEL, & SUKADANA, I. D. A. BAGUS NYOMAN. (2020). FAKTOR-FAKTOR YANG MEMPENGARUHI TAX AVOIDANCE PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BEI . Jurnal Bisnis Dan Akuntansi, 21(1a-2 SE-Articles). https://doi.org/10.34208/jba.v21i1a-2.749
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Published
2023-08-07
How to Cite
Sopandi, S., & Yuniarti, R. (2023). Effect of Debt To Equity Ratio, Firm Size and Sales Growth on Return on Assets In Manufacturing Companies ‘Food and Beverage’ Listed on the Indonesia Stock Exchange (IDX). Quantitative Economics and Management Studies, 4(5), 968–980. https://doi.org/10.35877/454RI.qems1940
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