Publication Search

This study aims to analyze the effect of asset growth, capital structure, and asset structure on the profitability of PT Astra Graphia Tbk during the period 2016–2023. The research employs a quantitative approach with a causal research design using secondary data derived from the company’s quarterly financial statements. A total of 32 quarterly observations were selected through purposive sampling. Profitability is measured using Return on Equity (ROE), while data analysis is conducted using multiple linear regression. Prior to hypothesis testing, classical assumption tests including normality, multicollinearity, heteroskedasticity, and autocorrelation tests were performed to ensure the robustness of the regression model. The results indicate that asset growth, capital structure, and asset structure simultaneously have a significant effect on firm profitability. However, partially, only asset structure has a significant effect on profitability, while asset growth and capital structure show no significant influence. These findings suggest that efficient asset composition plays a more critical role in improving profitability than mere asset expansion or increased leverage. The managerial implication of this study highlights the importance of optimizing asset structure to enhance the firm’s ability to generate sustainable profits.

This study examines how changes in company value are affected by profitability, liquidity, and asset structure using a case study of PT Bank Central Asia Tbk from 2017 to 2024. The Fixed Asset Ratio (FAR), which serves as a proxy for asset structure, the Return on Assets (ROA), which measures profitability, and the Current Ratio (CR), which measures liquidity, are the independent variables in the Price to Book Value (PBV) ratio. The study data came from BCA's public annual financial reports, and SPSS software was used to do multiple linear regression analysis. The findings demonstrate that changes in firm valuation are significantly positively impacted by profitability, suggesting that improved profit performance fosters favorable investor attitudes. On the other hand, throughout the observation period, changes in the company's value are not significantly impacted by liquidity or asset structure. This result is consistent with some earlier research, although it varies in the area of liquidity's impact, indicating a lack of consistency among investigations. Practically speaking, banking management may utilize the study's findings to develop financial plans that emphasize boosting profitability in order to optimize business value. Academically, this study adds to the body of knowledge on the elements that influence corporate value, particularly in the Indonesian banking sector, and addresses the present research gap on the impact of liquidity and asset structure.

This study aims to identify the influence of profitability, liquidity, and asset structure on the capital structure of pharmaceutical sub-sector companies listed on the Indonesia Stock Exchange during the 2019–2023 period. The study spanned five years, from 2019 to 2023. Of the total 15 companies in the population, 7 companies were selected as samples using a purposive sampling method. The research data were sourced from annual financial reports accessed through the official IDX website. Data processing was carried out using multiple linear regression methods. Capital structure was measured using two indicators: the Debt to Equity Ratio (DER) and the Debt to Asset Ratio (DAR). The analysis results showed that profitability had no effect on these two capital structure indicators. Conversely, liquidity and asset structure were shown to influence both DER and DAR. This study provides insight into the factors influencing debt financing decisions in pharmaceutical companies and their implications for the company's financial stability.

This study aims to analyze the effect of profitability, liquidity, and asset structure on the capital structure of banking companies listed on the Indonesia Stock Exchange (IDX) during the 2019–2023 period, with firm size as a moderating variable. The research employs a quantitative approach using secondary data obtained from financial statements. The sample was determined through a purposive sampling technique, resulting in 27 banking companies that met the criteria. Data were analyzed using multiple regression analysis and Moderated Regression Analysis (MRA). The results reveal that profitability has a negative and significant effect on capital structure, indicating that banks with higher profitability tend to reduce their dependence on external financing. In contrast, liquidity and asset structure do not have a significant effect on capital structure, suggesting that these factors are less influential in determining debt policy within the banking sector. Furthermore, the MRA results demonstrate that firm size moderates the relationship between profitability and capital structure, implying that larger firms can better manage internal funds to reduce leverage. However, firm size does not moderate the effects of liquidity and asset structure on capital structure. These findings contribute to understanding capital structure determinants in the Indonesian banking industry.

This study examines the influence of financial factors on the capital structure of basic chemical manufacturing companies listed on the Indonesia Stock Exchange (IDX) from 2019 to 2023. The sample selection method used is purposive sampling, with specific criteria resulting in a sample of 51 companies and a total of 255 data points. After data processing, 80 outliers were identified, reducing the final sample to 175 company data points. This research adopts a quantitative approach, utilizing multiple linear regression analysis with SPSS version 25. The findings reveal that profitability, asset structure, company size, and business risk have a significant impact on capital structure. In contrast, sales growth and dividend policy do not show a significant contribution to capital structure. Based on these findings, it is recommended that companies in the basic chemical manufacturing sector focus on improving profitability, optimizing asset structure, and managing business risks effectively to strengthen their capital structure. Additionally, company size should be considered when making financing decisions. Since sales growth and dividend policy were not significant factors, firms might prioritize internal financial management and risk control over aggressive sales expansion or dividend adjustments when aiming to optimize their capital structure. Future research could explore other potential factors or use alternative methodologies to deepen understanding in this area.

The main issue addressed in this research concerns the importance of selecting the appropriate funding sources for companies, particularly in the Consumer Cyclicals sector, which requires substantial financing to support operational activities. This study aims to analyze the influence of profitability, company growth, and asset structure on debt policy in Consumer Cyclicals companies listed on the Indonesia Stock Exchange (IDX) during the 2021–2023 period. The study employs purposive sampling, yielding 190 observations from companies that meet the criteria. Multiple linear regression is used as the analytical tool to examine the relationships among the variables. The results indicate that asset structure has a positive and significant effect on corporate debt policy, demonstrating that companies with a stronger asset base tend to adopt higher levels of debt financing. In contrast, profitability and company growth do not show a significant effect on debt policy, suggesting that these financial performance indicators may not be the primary determinants in the capital structure decisions for Consumer Cyclicals firms. These findings highlight the critical role of asset management in debt strategy while emphasizing that profitability and growth alone may not suffice to guide financing choices. Companies should consider the composition of assets carefully when determining their debt policies to optimize financial stability and operational efficiency.

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.

This study aims to examine the effect of firm size, profitability, capital structure, and asset structure on firm value in the food and beverage subsector listed on the Indonesia Stock Exchange for the 2019–2023 period. This causal research employs secondary data obtained from annual reports and applies purposive sampling, resulting in 13 companies with a total of 65 observations. Multiple linear regression analysis was conducted after passing classical assumption tests. The findings indicate that profitability and capital structure have a significant positive effect on firm value, while asset structure has a substantial adverse effect. Firm size shows no significant impact on firm value. These results suggest that efficiency has a greater influence on firm value in resource utilization and financial structure management than the size of assets owned. This study contributes to the corporate finance literature, particularly in the context of Indonesia’s food and beverage industry. It provides practical implications for managers and investors in making informed investment decisions.

This study aims to determine the effect of asset structure, sales growth, and firm size on capital structure at PT Martina Berto Tbk during the period 2014–2023. The data used in this research is secondary data, namely the financial statements of PT Martina Berto Tbk over the past ten years, obtained from the company's official website (www.martinaberto.co.id), in the form of balance sheets and income statements. The analytical methods used include classical assumption tests, multiple linear regression analysis, and hypothesis testing, conducted using SPSS version 20. The results show that asset structure, sales growth, and firm size each have a significant partial effect on capital structure. Furthermore, asset structure, sales growth, and firm size simultaneously have a significant effect on the capital structure of PT Martina Berto Tbk..

Firm value reflects investors’ perception of a company’s success, often associated with stock price. An increase in firm value can serve as a positive signal for investors, indicating promising future prospects. This study aims to examine and explain the influence of leverage, company size, and asset structure on the value of mining companies listed on the Indonesia Stock Exchange. The study involves a sample of 77 mining companies for the period 2020–2024. Data was collected using a non-participant observation method. The analytical technique employed is multiple linear regression analysis. The results show that leverage has a positive and significant effect on firm value, company size has a negative and significant effect on firm value, and asset structure has a positive but insignificant effect on firm value.

This study aims to determine the Influence of Asset Structure, Current Ratio, Firm Size and Sales Growth Relative to the Company's Capital Structure. The research population is a household appliance sub-sector manufacturing company listed on the Indonesia Stock Exchange. Sample selection using Purposive Sampling. The research period is 2019-2023. The data analysis technique used is multiple linear regression processed with IBM programs Statistical Package for Social Science (SPSS) Version 26. The results of the study show that the Asset Structure and Current Ratio have a negative and significant effect on the Capital Structure. Company Size and Sales Growth have no effect on the Capital Structure.