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All Journal PARADUTA : Jurnal Ekonomi dan Ilmu-Ilmu Sosial
Anggiet Sitorus
Universitas Pamulang
Humanities Economics, Econometrics & Finance Social Sciences

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Pengaruh Efisiensi Biaya Operasional dan Perputaran Aset Tetap terhadap Profitabilitas Perusahaan Makanan dan Minuman (Studi pada Perusahaan Subsektor Makanan dan Minuman yang Terdaftar di Bursa Efek Indonesia Periode 2020–2024) Anggiet Sitorus; Supatmin
Paraduta : Jurnal Ekonomi dan Ilmu-Ilmu Sosial Vol 4 No 2 (2026): Juni
Publisher : Universitas Madako Tolitoli

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56630/paraduta.v4i2.1754

Abstract

This study aims to analyze the influence of operational cost efficiency and fixed asset turnover on the company's profitability, both partially and simultaneously. The Operating Expense Ratio (OER) and Fixed Asset Turnover (FAT) ratios are used as proxies for independent variables, while Net Profit Margin (NPM) is used as a proxy for profitability. This research is important because around 40% of the sample of companies in the food and beverage subsector on the Indonesia Stock Exchange experienced a decrease in NPM in the 2020–2023 period despite continued revenue growth. The study uses a quantitative approach with secondary data in the form of annual financial statements of 20 food and beverage subsector companies listed on the Indonesia Stock Exchange for the 2020–2024 period, resulting in 100 panel data. The data was analyzed using panel data regression with the Fixed Effect model (EViews 14), after going through the Chow test and the Hausman test. The results showed that OER had a negative and significant effect on NPM (p = 0.0172), FAT had no significant effect on NPM (p = 0.8406), while simultaneously OER and FAT had a significant effect on NPM (p = 0.000000) with an Adjusted R-squared of 0.7879. These findings imply that controlling operating costs determines profitability more than the intensity of fixed asset turnover in the sector, so management needs to prioritize cost efficiency in its profit-maximizing strategy.
Co-Authors Supatmin