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PENGARUH DEBT TO EQUITY RATIO (DER) DAN RETURN ON EQUITY (ROE) TERHADAP Z-SCORE ALTMAN PADA PT RAMAYANA LESTARI SENTOSA Tbk. 2014-2023 Qoriyati Qoriyati; Amthy Suraya
JURNAL RUMPUN MANAJEMEN DAN EKONOMI Vol. 2 No. 6 (2025): November
Publisher : CV. KAMPUS AKADEMIK PUBLISHING

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61722/jrme.v2i6.7114

Abstract

This study aims to analyze the effect of Debt to Equity Ratio (DER) and Return on Equity (ROE) on Altman's Z-Score as an indicator of financial health at PT Ramayana Lestari Sentosa Tbk during the period 2014–2023. Altman's Z-Score is a bankruptcy prediction method that combines several financial ratios and is widely used in assessing a company's financial risk. DER describes the proportion of debt to equity, while ROE measures the company's efficiency in generating profits from its own capital. The research method used is quantitative descriptive with a multiple linear regression approach. Data were obtained from the company's annual financial statements for 10 years, then analyzed using the SPSS version 22 statistical tool. The results showed that DER partially had a negative and significant effect on Altman's Z-Score, while ROE partially had a positive and significant effect on Altman's Z-Score. Simultaneously, DER and ROE had a significant effect on Altman's Z-Score.
Pengaruh Ukuran Perusahaan, Net Profit Margin Dan Return On Investment Terhadap Harga Saham Pada PT Kalbe Farma Tbk Periode 2015-2024 Rae Nirmala; Amthy Suraya
JURNAL ILMIAH EKONOMI DAN MANAJEMEN Vol. 4 No. 3 (2026): Maret
Publisher : CV. KAMPUS AKADEMIK PUBLISING

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61722/jiem.v4i3.9126

Abstract

Abstract - This study aims to determine the effect of Company Size, Net Profit Margin (NPM), and Return on Investment (ROI) on Stock Prices at PT Kalbe Farma Tbk for the period 2015–2024, both partially and simultaneously. The research method used is a quantitative method with a descriptive approach. The data used are secondary data obtained from the annual financial reports of PT Kalbe Farma Tbk published through the Indonesia Stock Exchange (IDX). Data analysis techniques used include descriptive statistical analysis, classical assumption tests (normality, multicollinearity, heteroscedasticity, and autocorrelation tests), multiple linear regression analysis, hypothesis testing (t-test and F-test), and coefficient of determination (R²) tests. The results of the study indicate that partially, Company Size, Net Profit Margin (NPM), and Return on Investment (ROI) do not significantly influence the stock price of PT Kalbe Farma Tbk. Simultaneously, Company Size, Net Profit Margin (NPM), and Return on Investment (ROI) also have no significant effect on stock price. The coefficient of determination indicates that Company Size, NPM, and ROI only explain a small portion of the stock price variation, while the remainder is influenced by other factors outside the research model.
Pengaruh Ukuran Perusahaan dan Return on Asset terhadap Debt To Equity Ratio pada PT Adira Dinamika Multi Finance Tbk Resalia; Suraya, Amthy
JURNAL ILMIAH FEASIBLE: Bisnis, Kewirausahaan dan Koperasi Vol 8 No 1 (2026): Jurnal Ilmiaf Feasible (JIF): Bisnis, Kewirausahaan, dan Koperasi
Publisher : Universitas Pamulang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32493/fb.v8i1.2026.134-145.58600

Abstract

Penelitian ini bertujuan menganalisis pengaruh Ukuran Perusahaan dan Return on Assets   terhadap Debt to Equity Ratio   pada PT Adira Dinamika Multi Finance Tbk periode 2013–2024. Penelitian menggunakan pendekatan kuantitatif dengan metode regresi linear berganda berbasis data time series sebanyak 12 observasi tahunan. Hasil analisis menunjukkan bahwa secara parsial Ukuran Perusahaan berpengaruh positif namun tidak signifikan terhadap DER (β = 3,818; t = 1,134; p = 0,286). Sebaliknya, ROA berpengaruh negatif dan signifikan terhadap DER (β = −79,425; t = −2,985; p = 0,015). Secara simultan, kedua variabel berpengaruh signifikan terhadap DER (F = 4,777; p = 0,039) dengan koefisien determinasi (R²) sebesar 0,515. Artinya, 51,5% variasi DER dapat dijelaskan oleh Ukuran Perusahaan dan ROA, sedangkan 48,5% dipengaruhi faktor lain di luar model. Temuan ini mengindikasikan bahwa profitabilitas merupakan determinan utama struktur modal perusahaan pembiayaan, sedangkan skala aset tidak secara langsung menentukan tingkat leverage.