The influence of liquidity, asset utilization and leverage toward financial performance in consumer goods companies listed at Indonesia Stock Exchange
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Institusion
Universitas Pelita Harapan
Author
Veronicca, Veronicca
Subject
HF5601 Accounting
Datestamp
2022-01-17 09:12:55
Abstract :
The primary objective of this research study is to analyze the influence of liquidity, asset utilization and leverage ratios, represented by Current Ratio (CR), Total Asset Turnover (TATO), and Debt to Asset Ratio (DAR) on financial performance, represented by Return on Assets (ROA). The data is taken secondary source regarding consumer goods companies listed at Indonesia Stock Exchange (IDX) with a total of 57 companies. This study uses a total sample of 84 financial statement of consumer goods companies listed at Indonesia Stock Exchange during the period of 2016-2018 which have been selected by purposive sampling technique. The multiple linear regressions using Statistical Product and Service Solutions 25 (SPSS 25) is used as analysis model in this research. The result of this study reveals that partially, Current Ratio (CR) and Total Asset Turnover (TATO) has a positive influence on the Return on Assets (ROA), meanwhile Debt to Asset Ratio (DAR) has a negative influence on Return on Assets (ROA). Simultaneously, Current Ratio (CR), Total Asset Turnover (TATO), and Debt to Asset Ratio (DAR) has an influence on Return on Assets (ROA). The results further suggested that 34% of the variations in financial performance are caused by liquidity, asset utilization and leverage ratios suggesting that 66% of the variations in financial performance are caused by other factors outside the models being used. / Tujuan utama dari penelitian ini adalah untuk menganalisis pengaruh rasio likuiditas, rasio aktivitas dan rasio solvabilitas, dengan Current Ratio (CR), Total Asset Turnover (TATO), dan Debt to Asset Ratio (DAR) sebagai alat pengukurannya terhadap keuangan kinerja, dengan Return on Asset (ROA) sebagai alat pengukurannya. Data dalam penelitian ini adalah data sekunder yaitu perusahaan barang konsumsi yang terdaftar di Bursa Efek Indonesia (BEI) dengan total 57 perusahaan. Penelitian ini menggunakan total 84 sampel perusahaan barang konsumsi yang terdaftar di Bursa Efek Indonesia selama tiga tahun dalam periode 2016-2018, yang dipilih dengan teknik purposive sampling. Regresi linier berganda melalui Statistical Product and Service Solutions 25 (SPSS 25) digunakan sebagai model analisis dalam penelitian ini. Hasil penelitian ini menunjukkan bahwa secara parsial, Current Ratio (CR) dan Total Asset Turnover (TATO) memiliki pengaruh positif terhadap Return on Asset (ROA), sedangkan Debt to Asset Ratio (DAR) memiliki pengaruh negatif terhadap Return on Asset (ROA). Secara bersamaan, Current Ratio (CR), Total Asset Turnover (TATO), dan Debt to Asset Ratio (DAR) memiliki pengaruh terhadap Return on Asset (ROA). Hasil dari analisis tersebut lebih lanjut menunjukkan bahwa 34% variasi dalam kinerja keuangan disebabkan oleh rasio likuiditas, rasio aktivitas dan rasio solvabilitas dan menunjukkan bahwa 66% disebabkan oleh faktor-faktor lain di luar model yang digunakan.
The primary objective of this research study is to analyze the influence of liquidity, asset utilization and leverage ratios, represented by Current Ratio (CR), Total Asset Turnover (TATO), and Debt to Asset Ratio (DAR) on financial performance, represented by Return on Assets (ROA). The data is taken secondary source regarding consumer goods companies listed at Indonesia Stock Exchange (IDX) with a total of 57 companies. This study uses a total sample of 84 financial statement of consumer goods companies listed at Indonesia Stock Exchange during the period of 2016-2018 which have been selected by purposive sampling technique. The multiple linear regressions using Statistical Product and Service Solutions 25 (SPSS 25) is used as analysis model in this research. The result of this study reveals that partially, Current Ratio (CR) and Total Asset Turnover (TATO) has a positive influence on the Return on Assets (ROA), meanwhile Debt to Asset Ratio (DAR) has a negative influence on Return on Assets (ROA). Simultaneously, Current Ratio (CR), Total Asset Turnover (TATO), and Debt to Asset Ratio (DAR) has an influence on Return on Assets (ROA). The results further suggested that 34% of the variations in financial performance are caused by liquidity, asset utilization and leverage ratios suggesting that 66% of the variations in financial performance are caused by other factors outside the models being used. / Tujuan utama dari penelitian ini adalah untuk menganalisis pengaruh rasio likuiditas, rasio aktivitas dan rasio solvabilitas, dengan Current Ratio (CR), Total Asset Turnover (TATO), dan Debt to Asset Ratio (DAR) sebagai alat pengukurannya terhadap keuangan kinerja, dengan Return on Asset (ROA) sebagai alat pengukurannya. Data dalam penelitian ini adalah data sekunder yaitu perusahaan barang konsumsi yang terdaftar di Bursa Efek Indonesia (BEI) dengan total 57 perusahaan. Penelitian ini menggunakan total 84 sampel perusahaan barang konsumsi yang terdaftar di Bursa Efek Indonesia selama tiga tahun dalam periode 2016-2018, yang dipilih dengan teknik purposive sampling. Regresi linier berganda melalui Statistical Product and Service Solutions 25 (SPSS 25) digunakan sebagai model analisis dalam penelitian ini. Hasil penelitian ini menunjukkan bahwa secara parsial, Current Ratio (CR) dan Total Asset Turnover (TATO) memiliki pengaruh positif terhadap Return on Asset (ROA), sedangkan Debt to Asset Ratio (DAR) memiliki pengaruh negatif terhadap Return on Asset (ROA). Secara bersamaan, Current Ratio (CR), Total Asset Turnover (TATO), dan Debt to Asset Ratio (DAR) memiliki pengaruh terhadap Return on Asset (ROA). Hasil dari analisis tersebut lebih lanjut menunjukkan bahwa 34% variasi dalam kinerja keuangan disebabkan oleh rasio likuiditas, rasio aktivitas dan rasio solvabilitas dan menunjukkan bahwa 66% disebabkan oleh faktor-faktor lain di luar model yang digunakan.
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