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Investment decisions in pharmaceutical manufacturing companies listed on the Indonesia Stock Exchange (IDX) are influenced by fundamental analysis and stock price fluctuations. Stock prices reflect market perceptions shaped by profitability, liquidity, and capital structure. This study examines the effects of Return on Assets (ROA), Current Ratio (CR), and Debt-to-Equity Ratio (DER) on stock prices, both partially and simultaneously. Using a quantitative approach, the study analyzes secondary data from audited financial statements and stock prices of 12 pharmaceutical companies during 2022–2024, totaling 36 observations. Panel data regression with EViews 12 is applied. Results show that ROA and DER have positive and significant effects on stock prices, while CR has a negative but insignificant effect. Simultaneously, all three variables significantly influence stock prices, with an adjusted R² of 73%, indicating strong explanatory power. Profitability (ROA) is the most influential factor, followed by capital structure (DER), while liquidity (CR) shows no significant impact.

This study investigates the determinants of dividend payout policy in energy sector firms listed on the Indonesia Stock Exchange during the 2020–2024 period. Dividend policy is a critical issue in emerging markets, especially in capital-intensive industries with high investment needs and earnings volatility. The research examines whether profitability and ownership structure—specifically institutional and managerial ownership—significantly influence dividend payout decisions, considering firm characteristics. The study analyzes the effect of profitability, institutional ownership, and managerial ownership on the dividend payout ratio, while controlling for firm size and leverage. A quantitative approach is used, employing pooled ordinary least squares (OLS) regression on 245 firm-year observations. Dividend payout ratio is measured as dividend per share divided by earnings per share, profitability is proxied by return on equity, and ownership variables are expressed as shareholding proportions. Descriptive analysis and classical assumption tests precede hypothesis testing. The results show that profitability positively and significantly affects dividend payout, suggesting that firms with better financial performance tend to distribute higher dividends. Firm size also positively influences dividend policy, while leverage negatively impacts it, reflecting the role of financial capacity and capital structure. However, institutional and managerial ownership do not show significant effects on dividend payout decisions. The findings indicate that dividend policy in Indonesian energy firms is primarily driven by financial performance and structural characteristics rather than ownership-based governance mechanisms. This study offers sector-specific evidence that refines agency and signaling perspectives on dividend policy in emerging markets, with practical implications for managers, investors, and regulators.

Corporate financial performance is an important factor in maintaining business sustainability amid increasingly intense competition. One of the commonly used indicators of financial performance is Return on Assets (ROA), which reflects a company’s ability to generate profits through the efficient use of its assets. Corporate profitability is influenced by various internal factors, including capital structure and liquidity. This study aims to analyze the effect of Debt to Equity Ratio (DER) and Current Ratio (CR) on Return on Assets (ROA). This research employs a quantitative approach using secondary data obtained from corporate financial statements. The research sample consists of 36 observations selected through purposive sampling. Data analysis techniques include descriptive statistical analysis and multiple linear regression analysis using SPSS software. The results show that, partially, the Debt to Equity Ratio does not have a significant effect on Return on Assets, while the Current Ratio has a positive and significant effect on Return on Assets. Simultaneously, Debt to Equity Ratio and Current Ratio have a significant effect on Return on Assets, with Current Ratio being the most dominant variable. The findings indicate that effective liquidity management plays a crucial role in improving corporate profitability. The implications of this study are expected to provide useful insights for corporate management in making financial decisions, particularly related to liquidity management and capital structure.

This study aims to examine the implementation of audit procedures on accounts payable at PT XYZ by KAP Ramli & Rekan, with a focus on compliance with Auditing Standards and effectiveness in detecting material misstatements. Accounts payable are a key component of financial statements representing the company’s obligations to suppliers, requiring accurate presentation for assessing liquidity and capital structure. The study applies a descriptive qualitative method, collecting primary data through interviews with audit staff at KAP Ramli & Rekan and secondary data from relevant literature. The findings show that the audit procedures comply with professional standards, covering comprehensive stages including engagement acceptance, audit planning, risk and materiality assessment, and substantive testing. The planning process incorporates the COSO framework for evaluating internal control, establishes audit objectives based on the five management assertions, and utilizes ATLAS software and Microsoft Excel. KAP Ramli & Rekan apply control testing and substantive procedures, including external confirmations, inspection of supporting documents, review of aging payables, and subsequent payment testing. Risk assessment indicates low inherent and control risks, while detection risk is mitigated through substantive procedures. Overall Materiality is set at 60% of revenue and profit before tax, Performance Materiality at 3% of Overall Materiality, and Threshold Materiality at 3% of Performance Materiality. The study concludes that the audit procedures implemented by KAP Ramli & Rekan align with applicable Auditing Standards and are effective in addressing audit risks related to accounts payable. The implications highlight the importance of enhancing audit quality practices, particularly the effectiveness of planning and internal control evaluation in accounts payable audits.

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.

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.

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 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..

This study aims to analyze the financial performance of Bank Syariah Indonesia (BSI) Bandung Asia Afrika Branch Office using solvency ratios, including Debt to Equity Ratio (DER) and Debt to Asset Ratio (DAR). The research emplyos a descriptive quantitative approach using secondary data obtained from financial reports for the years 2023-2024. Solvency ratios serve as crucial indicators in assessing the bank’s ability to meet long-term obligations and manage its capital structure. The analysis refers to the principles of sharia-based financial reporting as outlined in PSAK 401, which emphasize transparency and accountability. The results show that BSI KC Bandung Asia Afrika experienced improved solvency, as indicated by decreasing DER ratio, along with the presentation of financial statements that comply with Islamic accounting standards.

Capital structure is a strategic decision made by companies in determining the combination of debt and equity financing. Financial market dynamics can influence companies' strategies for obtaining financing for expansion, operations, or financial restructuring. Companies have the flexibility to determine when and how to obtain financing by considering market conditions, a practice known as market timing. This study aims to examine the impact of market timing on capital structure and to determine the persistent long-term effects of market timing. The research focuses on non-financial companies that conducted an initial public offering (IPO) in 2020-2021, with a population of 105 companies. A purposive sampling technique was employed, using specific criteria, resulting in a sample of 65 companies. The data used are secondary data analyzed using multiple linear regression with panel data. The results indicate that market timing, measured by the market-to-book ratio, has a significant negative impact on capital structure. The study also shows that market timing, does not have a persistent impact on capital structure in the long term. Companies tend to take advantage of momentum when stock valuations are high by conducting initial public offerings, while in the long term, companies tend to make adjustments, so the impact of market timing does not last long.

The study was conducted to investigate how profitability, capital structure, and company size affect company value, company size acts as a moderator variable. There are independent variables Profitability and Capital Structure and dependent variables, Company Value, while Company Size acts as a moderator factor. The study focused on companies in the healthcare sector listed on (IDX) from 2021 to 2023, and identified 13 companies that met the established criteria, resulting in a total of 39 observation data points. The analysis used the panel data regression method, with Econometric Views (Eviews). The findings of this study reveal that profitability has a significant positive impact on company value. The value of a company is positively influenced by its capital structure. In addition, company size plays an important role in moderating profitability and company value, as well as the relationship between capital structure and company value. This study is a valuable consideration for investors and shareholders when evaluating financial statements to make investment decisions.

The purpose of this research is to analyze the relationship between financial performance, green accounting, and capital structure. The research covered 72 food and drink producers that were listed on the BEI in the years 2019–2022. Twenty businesses were chosen through a purposeful sampling process. Multiple linear regression analysis of secondary data is performed in SPSS 26. According to research, green accounting helps companies improve their financial performance by financing large environmental costs. Financial performance is impacted by capital structure, which in turn increases profits and debt levels. Revenue growth, however, has no bearing on bottom-line results

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.

This study investigates the role of profit-based tangible assets and sales growth (ProTAPP) in enhancing the relationship between market ratios and financing decisions in property and real estate companies across Southeast Asia from 2019-2023. Using agency theory, pecking order theory, and trade-off theory, the research examines how EPS, TATO, and CR influence DER, with ProTAPP serving as a mediating variable. The analysis, based on panel data from ASEAN countries including Indonesia, Malaysia, Thailand, and Singapore, aims to provide practical insights for investors, corporate managers, and policymakers in optimizing financing strategies within the property and real estate sector. The study emphasizes the significance of tangible assets and sales growth dynamics in financial decision-making for achieving an optimal capital structure. Findings reveal that ProTAPP significantly mediates the relationship between EPS, TATO, CR, and DER in Southeast Asian property and real estate firms. The impact of these independent variables on DER through ProTAPP varies by country, reflecting specific market dynamics and company strategies. These results offer valuable guidance for developing more effective financing strategies in the sector.

Company value can show how it performs in running the business. Company size, profitability, age and capital structure can have an effect on company value as proxied by PBV. This study was carried out in order to find out how company size, profitability, age and capital structure affect the value of Food and Baverage companies listed on the IDX during the 2019-2023 period. This study consists of the dependent variable company value, while the independent variables are company size, profitability, age and capital structure. The population used was 32 food and load businesses that were members of the BEI from 2019 to 2023. In this research, data was collected using a purposive sampling method. In this study sample, the research consisted of eleven companies with a total of fifty-five observations. The samples that have been collected are analyzed and processed using multiple linear regression tests. This study has findings that company size and age have an insignificant negative impact on company value, conversely the profitability variable has an insignificant impact on company value and capital structure has a positive impact on company value. 

This study investigates the role of profit-based tangible assets and sales growth (ProTAPP) in enhancing the relationship between market ratios and financing decisions in property and real estate companies across Southeast Asia from 2019-2023. Using agency theory, pecking order theory, and trade-off theory, the research examines how EPS, TATO, and CR influence DER, with ProTAPP serving as a mediating variable. The analysis, based on panel data from ASEAN countries including Indonesia, Malaysia, Thailand, and Singapore, aims to provide practical insights for investors, corporate managers, and policymakers in optimizing financing strategies within the property and real estate sector. The study emphasizes the significance of tangible assets and sales growth dynamics in financial decision-making for achieving an optimal capital structure. Findings reveal that ProTAPP significantly mediates the relationship between EPS, TATO, CR, and DER in Southeast Asian property and real estate firms. The impact of these independent variables on DER through ProTAPP varies by country, reflecting specific market dynamics and company strategies. These results offer valuable guidance for developing more effective financing strategies in the sector.      

This research compares the financial performance of insurance companies in Indonesia using the Du Pont method, identifies the determinants of differences in profitability and efficiency, and provides strategic recommendations. The methodology involves analyzing the 2023 audited financial statements of PT Asuransi Dayin Mitra Tbk and PT Asuransi Bintang Tbk as samples, applying the Du Pont method, financial ratios, and qualitative analysis. The results reveal a significant difference in profitability, with PT Asuransi Dayin Mitra Tbk excelling in net profit margin, asset turnover, and a conservative capital structure, while PT Asuransi Bintang Tbk outperforms in underwriting risk management, claims handling, and aggressive marketing strategies. Strategic recommendations include maintaining strengths, exploring revenue growth, enhancing cost efficiency, and adjusting capital structure. This research contributes to understanding the dynamics of financial performance in the Indonesian insurance industry. 

This research aims to determine the effect of Current Ratio, Return on Asset, Asset Structure and Managerial Ownership on Capital Structure. The population in this research is companies that are members of Index LQ45 listed on the Indonesia Stock Exchange in financial reports for the 2019-2023 period. The sampling technique in this research used a purposive sampling method and a sample of 18 companies was obtained. The analysis technique used is multiple linear regression analysis using IBM SPSS version 22. software. The results of this research show Current Ratio and Return on Asset have a negative and significant effect on Capital Structure, Asset Structure have a positive and significant effect on Capital Structure, while Managerial Ownership has no effect on Capital Structure.

This study aims to determine the effect of profitability, asset structure, company size and dividend policy on capital structure (empirical study on food and beverage subsector companies listed on the Indonesia Stock Exchange for the 2018-2023 period). The type of data used in this study is secondary data obtained from documentation in the form of financial statements of Food and Beverage companies. The total population in this study was 95 companies, sample selection was carried out by the Purposive Sampling method. So that a sample of 19 companies was obtained, the independent variables used were Profitability, Asset Structure, Company Size and Dividend Policy, the dependent variable used was Capital Structure. Data analysis was carried out quantitatively and the analysis methods used in this study were in the form of multiple linear regression and classical assumption tests including normality test, multicollinearity test, heteroscedasticity test and autocorrelation test. Data testing in this study used Statistical Package for Social (SPSS) Version 25.0. The results showed that Profitability had a significant negative effect on Capital Structure, Company Size had a significant positive effect on Capital Structure, while Asset Structure and Dividend Policy did not affect Capital Structure.