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Putri Mentari; Michael Febrian Siebert; Loise Cendana

Jurnal Penelitian Manajemen dan Inovasi Riset 2026 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

The development of the digital economy has driven increased customer interaction through online chat services, making customer satisfaction a key factor in business success. Response speed and chat service quality are two important aspects in shaping the customer experience, but previous research has tended to examine them separately. This study aims to analyze the influence of online chat services and response speed on customer satisfaction partially and simultaneously. The method used is a qualitative approach with a literature review of 12 scientific articles from 2020–2025 obtained from academic databases such as Google Scholar and SINTA. The analysis technique used is descriptive-critical through the identification, comparison, and synthesis of previous research findings. The results show that online chat services have a positive effect on customer satisfaction, primarily through interaction quality such as information accuracy, ease of use, and problem-solving ability. Response speed has also proven to be an important determinant, where a fast response significantly increases customer satisfaction. However, speed without quality has the potential to decrease satisfaction. The discussion shows that the two variables have a complementary and inseparable relationship. Online chat services function as a medium for interaction, while response speed is a quality attribute that determines the effectiveness of the service. Therefore, the integration of both in one model is the main contribution of this research in filling the literature gap, especially in the context of e-commerce in Indonesia.

Arny Juliyanti; Husni Awali

Jurnal Penelitian Manajemen dan Inovasi Riset 2026 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

The Operational Aspect in Islam emphasizes that production activities must benefit humanity or be related to meeting human needs. For example, the selection of raw materials should not come from haram sources, the production process should be free from activities prohibited by Sharia, production should not be excessive, and there should be no waste. The Islamic view on human resources emphasizes that all workers are huan beings, not robots or business tools. A A Business Feasibility Study refers to an analysis of a business plan, both prior to its implementation and once the business is operating on a regular basis. The aim of this study is to evaluate the operational aspects and human resource management within the feasibility study of the Islamic-based convection business, Brand 57 Busana Pekalongan. This research employs a qualitative approach. The data were collected through field research, which involves conducting the study directly at the site where the phenomena related to the research problem occur. The techniques applied for data collection include observation, interviews, and documentation The result of this study indicate that the Brand 57 Busana pekalongan is feasible in terms of operational and human resource management aspects from a Sharia businesss feasibility study perspective because it has chosen a strategic location, good product quality, adequate production capacity, and technology utilization. In addition, the brand 57 Busana Pekalongan convection is deemed permissible for operational production activities from an Islamic perspective, such as production activities based on Islamic values and Maqashid Syariah. In the implementation of human resources management, the Brand 57 Busana Pekalongan convention has implemented job descriptions, a Muslim work ethic, a fair and decent salary distribution system.

Wilda Shilviyah Andiyanti; Fairuz Meita Aurelia

Jurnal Penelitian Manajemen dan Inovasi Riset 2026 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

Employee engagement is critical to organizational performance, employee well-being, and long-term sustainability. In hybrid work contexts, generational differences have become increasingly evident, particularly between Generation Y and Generation Z employees. Generation Y tends to emphasize work–life balance, career development, and meaningful collaboration, while Generation Z prioritizes flexibility, job security, digital integration, and the use of technology in the workplace. This study adopts a systematic literature review (SLR) approach by synthesizing findings from various peer-reviewed studies related to employee engagement and hybrid work practices across generations. The review focuses on identifying key factors that influence employee engagement in modern work environments. The results indicate that hybrid work can significantly enhance employee engagement when organizations provide flexibility, autonomy, adequate technological support, professional development opportunities, and fair reward systems. In addition, supportive organizational culture and effective leadership are important in maintaining employee motivation and commitment. However, differences in generational expectations require organizations to implement adaptive managerial strategies, including flexible work policies, personalized communication approaches, and inclusive leadership practices to strengthen employee engagement across different generations in hybrid work settings.

Sinta Fatmala Sari; Diana Ambarwati; Angga Permana Mahaputra

Jurnal Penelitian Manajemen dan Inovasi Riset 2026 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

This study aims to determine the effect of product quality and service quality on consumer purchasing decisions, both partially and simultaneously, at Chickenday Restaurant Trenggalek. The method used is a quantitative approach with data processing in numerical form to objectively test the relationship between variables. The research was conducted at Chickenday Restaurant, located on Jl. Soekarno Hatta No. 20 Trenggalek. The research population consists of all consumers during the period of May–June 2025, the exact number of which is unknown. The sampling technique utilized probability sampling with a simple random sampling method, resulting in 96 respondents based on the Lemeshow formula. The data include primary data through questionnaires and observations, as well as secondary data from various sources. Data analysis was performed using multiple linear regression, t-test, and F-test. The results indicate that product quality and service quality have a positive and significant effect on purchasing decisions, both partially and simultaneously, with service quality being the more dominant variable.

Andini Setiawati; Rizka Wahyuni Amelia

Jurnal Penelitian Manajemen dan Inovasi Riset 2026 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

This study aims to analyze the partial and simultaneous effects of Investment Decisions, Financing Decisions, and Company Size on Company Value at PT Ciputra Development Tbk for the period 2014-2024. Company value is proxied by Price to Book Value (PBV), investment decisions by Price Earning Ratio (PER), financing decisions by Debt to Equity Ratio (DER), and company size by SIZE. The method used in this study is descriptive quantitative. The population of this study is the financial statements of PT Ciputra Development Tbk for the period 2014-2024, and the sample used is the financial position report, income statement, and share price of PT Ciputra Development Tbk for the period 2014-2024. The analysis methods used are descriptive analysis, classical assumption testing, multiple linear analysis, t-test, f-test, and coefficient of determination test using SPSS version 26. The results of the study show that partially, PER and DER do not have a significant effect on PBV, while SIZE has a negative and significant effect on PBV. Simultaneously, PER, DER, and SIZE significantly affect PBV with a coefficient of determination of 94.7%, indicating that the regression model has excellent predictive power. The remaining 5.3% is influenced by other variables outside the scope of this study.

Khusnul Khotimah; Lady Diana Warpindyastuti

Jurnal Penelitian Manajemen dan Inovasi Riset 2026 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

The increasingly competitive business world demands companies to be able to implement appropriate marketing strategies to improve consumer purchasing decisions. Price and service quality are important factors that influence consumer behavior in determining purchasing choices. PT Era Permata Sejahtera, as a company engaged in general services, has experienced a decline in profits in recent years, which is thought to be related to pricing policies and the quality of service provided to consumers. Therefore, this study aims to analyze the influence of price and service quality on purchasing decisions at PT Era Permata Sejahtera, both partially and simultaneously. This study uses a quantitative approach with a descriptive method. Data were collected through distributing questionnaires to consumers of PT Era Permata Sejahtera, with a purposive sampling technique. Data analysis was carried out using multiple linear regression with the help of SPSS version 26 software, and equipped with validity tests, reliability tests, t-tests, F-tests, and coefficients of determination. The results of the study indicate that partially, price does not significantly influence consumer purchasing decisions, while service quality has a positive and significant influence. Simultaneously, price and service quality significantly influence consumer purchasing decisions.

Santi Susanti

Jurnal Penelitian Manajemen dan Inovasi Riset 2026 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

Human Resource Management (HRM) plays a crucial role in ensuring that a company is able to grow, compete, and sustain its operations in an increasingly dynamic business environment. Effective HRM practices help organizations optimize employee performance, improve productivity, and maintain workforce stability. One of the key aspects of HRM that significantly influences employee performance is workload and job satisfaction. An imbalance in workload or low levels of job satisfaction may lead to decreased motivation, stress, and reduced work performance. This research aims to explore and evaluate the levels of workload and job satisfaction among employees at PT Indomarco Tangerang 1. Understanding these factors is essential to identify potential problems that may affect employee performance and organizational effectiveness. The study employs a quantitative research approach, which involves collecting numerical data that can be statistically analyzed to provide objective and measurable results. Data were gathered through structured questionnaires distributed to employees. A total of 30 employees from various divisions at PT Indomarco Tangerang 1 participated in this study. Statistical analysis was used to assess the relationship between workload and job satisfaction, as well as their overall condition within the company. The findings of this research are expected to provide useful insights for management in developing appropriate strategies to manage workload effectively and enhance job satisfaction. Ultimately, improving these aspects is expected to contribute to higher employee performance and support the long-term success of the company.

Muhammad Rafi Ramadhan; Muhammad Syihabuddin

Jurnal Penelitian Manajemen dan Inovasi Riset 2026 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

This study aims to analyze the inventory management practices of qurban cattle at Purnomo Sapi Mulyo Farm in Boyolali, Central Java, particularly in facing the surge in demand prior to Eid al-Adha. The research is motivated by the unique characteristics of qurban cattle inventory, which involves living assets, seasonal demand, and biological risks that differ significantly from conventional inventory management. A qualitative descriptive approach with a case study design was employed to capture in-depth information regarding inventory planning, procurement, storage, and sales practices. Data were collected through in-depth interviews with the business owner as the key informant, direct observation of operational activities, and documentation review. The findings reveal that inventory management at the farm is conducted in a responsive manner based on consumer orders, enabling the business to minimize overstock risks and operational costs. However, inventory recording remains manual and unstructured, potentially limiting the accuracy of cost calculation and long-term planning. Price fluctuations and supply availability are strongly influenced by the Eid al-Adha momentum, while cattle health and lead time are critical factors affecting inventory effectiveness. From a theoretical perspective, the study extends inventory management concepts to the context of live and seasonal inventory. Practically, the findings suggest that implementing a simple yet structured inventory recording system could enhance operational efficiency and decision-making accuracy in local qurban cattle farms.

Raka Wiguna K. S; Sri Harini; Erni Yuningsih

Jurnal Penelitian Manajemen dan Inovasi Riset 2026 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

This study aims to determine the influence of work discipline (variable X1) and work culture (variable X2) on employee performance (variable Y). The research method used is a descriptive and verifiable method with a quantitative approach. Data collection techniques include observation, interviews, documentation, and literature studies to obtain comprehensive and relevant data for the purpose of the research. Data analysis techniques are carried out systematically, starting from the data compilation process, data tabulation, to the hypothesis testing stage. Data analysis uses multiple linear regression to determine the influence of each independent variable on the dependent variable. The results showed that the determination coefficient (R²) value was 69.8%, which means that work discipline and work culture simultaneously have a significant effect on employee performance. Meanwhile, 30.2% of employee performance was influenced by other factors outside of the study, such as motivation, work ability, leadership, personality, job satisfaction, work environment, and employee loyalty. Thus, it can be concluded that improving work discipline and a positive work culture plays an important role in improving.

Aji Prasojo; Alif Anggun Yuliasari; Eka Amelia Putri Dinanty

Jurnal Penelitian Manajemen dan Inovasi Riset 2026 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

This study examines the management of Kediri Nite Carnival (KNC), an annual event organized by the Kediri City government to commemorate the city's anniversary and showcase local arts, culture, and tourism potential. This research uses qualitative methodology and employs literature analysis, observation, and documentation as case study methods. The Miles and Huberman interactive model is used to analyze the data. The Kediri City Tourism Office has implemented each stage of event management according to Goldblatt's concept: research, design, preparation, coordination, and evaluation. The focus of the research was to determine the objectives and target audience; the design highlighted the local cultural theme “Exotic Flower in Paradise”; planning included budget planning, scheduling, and promotional strategies through social media and collaboration with local media; coordination was carried out through task distribution and cross-team communication; and evaluation assessed the success of the event based on community feedback and its effects on tourism and the local economy. The research results show that KNC plays an important role in improving the public's perception of Kediri City as a creative and cultured city. However, efforts to increase the number of tourist visits in the long term still need to be made. It is hoped that these findings will help the local government develop a sustainable tourism communication plan.

Yogatama, Ahmad Nizar

Jurnal Penelitian Manajemen dan Inovasi Riset 2025 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

The rapid advancement of smartphone technology has shaped consumer buying behavior, especially among students who depend on these devices for learning and social interaction. This research examines how product features and price perceptions influence students’ decisions to purchase Oppo smartphones in Malang City. Using a quantitative research design, data were obtained through questionnaires distributed to 428 respondents and processed using multiple linear regression analysis. The findings indicate that both product features and perceived price positively and significantly affect purchasing decisions, with product features demonstrating a more dominant role. The proposed model accounts for 66.2% of the variance in purchase decisions, suggesting that these two factors play a substantial part in shaping consumer choices. The results highlight the need for manufacturers like Oppo to focus on continuous feature improvements and maintain competitive pricing to strengthen market appeal. It is also suggested that future studies integrate additional variables such as brand image, marketing promotions, or user experience to offer a broader and more in-depth explanation of the determinants influencing smartphone purchase behavior.

Maria Faustina Nona; Andreas Rengga; Elisabeth Luju

Jurnal Penelitian Manajemen dan Inovasi Riset 2025 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

This study aims to analyze the role of inventory management in improving financial efficiency at CV. Sumber Jaya Putra Perkasa. The main problems faced by the company are manual inventory management, technological limitations, dependence on certain suppliers, and suboptimal demand planning, which affect distribution effectiveness and financial efficiency. This study uses a quantitative descriptive approach with data collection techniques through interviews, observation, and documentation. The analysis was conducted on the stock management process, inventory turnover, and its impact on storage costs and operational efficiency. The results show that good inventory management contributes significantly to increased financial efficiency. With proper stock planning, companies can minimize the risk of excess and shortage of goods, reduce storage costs (holding costs), and increase inventory turnover so that working capital can circulate more quickly. However, the inventory management system currently used by CV. Sumber Jaya Putra Perkasa still has limitations, especially in terms of digitization and information integration. This study recommends the implementation of a technology-based inventory management system, a multi-supplier strategy, and the application of demand forecasting methods to improve stock planning accuracy. With this strategy, it is hoped that the company can achieve more optimal financial efficiency and strengthen its competitiveness in the distribution industry.

Gilang Romadon; Sumarni Sumarni; Rohman Wilian

Jurnal Penelitian Manajemen dan Inovasi Riset 2025 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

This research aims to determine the effect of organizational support, work environment, and communication on employee performance at the Investment and One-Stop Integrated Services Office (DPM-PTSP) of Muaro Jambi Regency, both partially and simultaneously. The method used is quantitative analysis with a population and sample consisting of all 44 employees, determined through a saturated sampling technique. Data were collected using a Likert scale-based questionnaire, and the analysis was carried out using multiple linear regression with the help of SPSS software. The results of the study showed that (1) organizational support has a positive and significant effect on employee performance, (2) work environment has a positive and significant effect on employee performance, (3) communication has a positive and significant effect on employee performance, and (4) organizational support, work environment, and communication simultaneously have a positive and significant effect on employee performance. The recommendations/suggestions from this research are expected to improve employee performance by enhancing organizational support through fair task distribution, reward programs, and development opportunities; creating a comfortable and well- equipped work environment that encourages productivity; and strengthening effective communication between superiors and subordinates as well as among employees through regular meetings and discussion forums.

Dhea Pinky Cafrina Alif; Indah Listyani; Adi Trisna Wahyudi

Jurnal Penelitian Manajemen dan Inovasi Riset 2025 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

This study aims to analyze the influence of product quality (X1), price (X2), and location (X3) on consumer satisfaction (Y) at UMKM Abon Farda Kediri. The research uses a quantitative approach with both primary and secondary data. The sample consists of 64 respondents, and the data were collected through questionnaires, literature reviews, and documentation. The analytical methods applied include Validity Test, Reliability Test, Classical Assumption Test, Multiple Linear Regression Analysis, t-test, F-test, and the Coefficient of Determination test. The results of the analysis show the multiple linear regression equation: Y = 5.464 + 0.297X1 + 0.280X2 + 0.165X3 + e. Based on the t-test, the product quality variable has a t-value of 2.132 with a significance level of 0.037, indicating a significant effect on consumer satisfaction. The price variable has a t-value of 2.284 with a significance level of 0.026, also showing a significant influence. However, the location variable records a t-value of 1.176 with a significance level of 0.244, meaning it does not significantly affect consumer satisfaction. The F-test results show an F-value of 8.223 with a significance level of 0.000, confirming that product quality, price, and location simultaneously have a significant effect on consumer satisfaction. Therefore, product quality and price play an important role in increasing consumer satisfaction at UMKM Abon Farda Kediri.

M. Fikrie Fachrian Lubis; MHD. Haiqal Wijaya; Clara Citra Sinaga; Andhita Dean Vega; Dionisius Sihombing +1 more

Jurnal Penelitian Manajemen dan Inovasi Riset 2025 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

This study aims to analyse the strategies implemented by Kopi Kenangan MSMEs, particularly the branch at Jl. Pancing No. 184 Medan, in facing the challenges of globalisation and penetrating the international market. The method used is a case study with a descriptive qualitative approach through interviews, observations, and documentation. The results of the study show that Kopi Kenangan is well prepared to compete in the global market through strengthening internal management, utilising digital technology, and building a brand image based on Indonesian coffee identity. The expansion strategies implemented include selecting markets with cultural proximity, adapting products to local preferences, and collaborating with international partners. The main obstacles faced include competition with global brands, differences in consumer tastes, financial constraints, and export regulations. However, business opportunities remain wide open in line with the increasing global coffee consumption trend, interest in authentic local products, and government support in promoting and facilitating MSMEs. This study concludes that the success of MSME internationalisation is largely determined by the synergy between internal company quality, digitalisation, partnership networks, and external support from the government.

Syahdan Alfarouk; Suharini Suharini

Jurnal Penelitian Manajemen dan Inovasi Riset 2025 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

This study aims to determine how much influence simultaneously between internal communication and work environment on employee performance at PT AMYTHAS. This research method uses a quantitative descriptive approach with data collection techniques through distributing questionnaires to 51 respondents who are employees from various divisions. The data analysis technique uses multiple linear regression through the SPSS version 26 application. The results of the study show that partially the internal communication variable has a t-value of 2.711> Ttable 2.010 and a significance of 0.009 <0.05, so it can be concluded that internal communication has a significant effect on employee performance. Likewise with the work environment which has a t-value of 4.359> Ttable 2.010 with a significance of 0.000 <0.05, so the work environment also has a significant effect on employee performance. Simultaneously, internal communication and work environment have a significant effect on employee performance with a significance value of 0.000 <0.05 and an F count of 144.407> F table 3.19. So it can be concluded that internal communication and work environment have a joint influence on the performance of PT AMYTHAS employees.

Ike Damayanti; Diana Ambarwati; Angga Permana Mahaputra

Jurnal Penelitian Manajemen dan Inovasi Riset 2025 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

This study aims to analyze the influence of product quality and location on housing purchase decisions at Shafira Residence Kediri. The research problem focuses on how product quality and location can affect consumers in making purchase decisions. This study employs a quantitative method with questionnaires distributed to respondents and data analysis conducted through validity tests, reliability tests, t-tests, F-tests, and multiple linear regression using SPSS 25. The results indicate that product quality has a significant partial effect on purchase decisions. This means that the better the quality of the product offered, the higher the consumer’s interest in purchasing a house at Shafira Residence. Similarly, the location variable shows a significant partial effect on purchase decisions, where accessibility and strategic positioning serve as key factors. Simultaneously, product quality and location significantly influence purchase decisions, with an F-test value of 10.727 (significance < 0.001) and a coefficient of determination (R²) of 0.671, indicating that the two independent variables explain 67.1% of the variation in purchase decisions. The conclusion of this study is that product quality and location are important factors influencing consumer purchase decisions at Shafira Residence Kediri. Therefore, developers need to improve housing product quality, ensure timely completion of construction, and enhance road access to the location in order to attract more consumers.

Bayu Cakra Wijaya; Trisnia Widuri; Kukuh Harianto

Jurnal Penelitian Manajemen dan Inovasi Riset 2025 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

This study was conducted to evaluate and confirm hypotheses related to communication, work discipline, and work environment as determinants of employee performance at Pabrik Rokok Cengkir Gading Nganjuk. A quantitative approach with an associative method was adopted. The research utilized a non-probability sampling strategy, specifically the saturated sample method, by involving all 53 employees in the production section. Data were processed using SPSS version 26 and analyzed through validity, reliability, normality, linearity, multicollinearity, heteroscedasticity, multiple linear regression, t-tests, F-tests, and the coefficient of determination (R²). Findings indicate that communication has a positive but insignificant effect on performance (Sig. 0.131 > 0.05). In contrast, work discipline significantly and positively influences performance (Sig. 0.016 < 0.05), while the work environment has a positive but insignificant effect (Sig. 0.052 > 0.05). On the other hand, communication, work discipline, and work environment together significantly affect employee performance (Sig. 0.000 < 0.05). The overall contribution of these three independent variables is 47.9%, with the remaining 52.1% explained by other unobserved variables.

Serlina Zuhrotul Azhariyah; Baju Pramutoko; Ririn Wahyu Arida

Jurnal Penelitian Manajemen dan Inovasi Riset 2025 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

This study aims to determine the influence of Brand Image, Price, and Service Quality on Consumer Purchase Decisions at Vins Aesthetic Clinic Blitar. This research adopts a quantitative approach, focusing on the statistical analysis of the relationship between variables. The data were obtained from primary sources through the distribution of structured questionnaires to respondents. The population in this study consisted of all consumers of Vins Aesthetic Clinic Blitar. A sample of 100 respondents was selected using a saturated sampling technique, where the entire population is used as the sample due to the accessible number of consumers during the research period. Several analytical methods were applied, including validity and reliability tests to ensure the quality and consistency of the research instruments. Classical assumption tests were also conducted to confirm the appropriateness of the regression model. The study used multiple linear regression analysis to examine the effect of the independent variables — Brand Image, Price, and Service Quality — on the dependent variable, namely Consumer Purchase Decisions. The results of the partial (t-test) analysis showed that each variable — Brand Image, Price, and Service Quality — has a positive and significant influence on purchase decisions. Furthermore, the results of the simultaneous (F-test) analysis indicate that all three variables together significantly affect Consumer Purchase Decisions at Vins Aesthetic Clinic Blitar.

Renanda Dikfa Aristiani; Karari Budi Prasasti; Indah Yuni Astuti

Jurnal Penelitian Manajemen dan Inovasi Riset 2025 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

This study aims to examine the influence of firm size, profitability, and liquidity on the capital structure of PT Krakatau Steel Tbk during the 2017–2024 period. The independent variables in this study consist of firm size, measured by the natural logarithm of total assets (Ln Total Assets), profitability measured by Return on Equity (ROE), and liquidity measured by the Current Ratio (CR). The dependent variable is capital structure, proxied by the Debt to Equity Ratio (DER). A quantitative approach was employed, utilizing multiple linear regression analysis to test the hypotheses. The data used were secondary in nature, comprising quarterly financial statements of PT Krakatau Steel Tbk obtained from the Indonesia Stock Exchange (IDX) and other official sources. The empirical findings reveal that, partially, firm size has a negative and statistically significant effect on capital structure. This suggests that larger firms tend to rely less on debt financing. Profitability exerts a positive and significant influence on capital structure, indicating that more profitable companies are more likely to use debt to finance their operations. Conversely, liquidity exhibits a negative yet statistically insignificant impact on capital structure, implying that liquidity does not have a substantial effect on the company's capital structure decisions. Simultaneously, the three independent variables collectively have a significant effect on capital structure. The model’s coefficient of determination (R²) indicates that 26.7% of the variation in capital structure can be explained by the independent variables, while the remaining 73.3% is attributable to other factors not included in this study. These findings contribute to the understanding of financial decision-making within capital-intensive industries.