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p-Index From 2021 - 2026
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All Journal Economics and Business Journal
Nurul Hidayah
Program Studi Manajemen Fakultas Ekonomi dan Bisnis, Universitas Negeri Makassar
Economics, Econometrics & Finance

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The Effect of Capital Structure and Liquidity on Profitability in Palm Oil Companies Listed on The Indonesia Stock Exchange (2021-2024 Period) Uhud Darmawan Natsir; Nurul Hidayah; Annisa Paramaswary Aslam; Anwar Ramli; Anwar Anwar
Economics and Business Journal (ECBIS) Vol. 4 No. 6 (2026)
Publisher : PT. Maju Malaqbi Makkarana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47353/ecbis.v4i6.628

Abstract

This study aims to evaluate the effect of capital structure and liquidity on the profitability of palm oil companies listed on the Indonesia Stock Exchange (IDX) during the 2021–2024 period. Using a quantitative approach, a purposive sampling technique was employed, resulting in a sample of 9 companies (36 financial report observations). Data were analyzed using multiple linear regression in SPSS 25. The empirical findings reveal that capital structure (measured by DER) and liquidity (measured by CR) partially have a significant effect on profitability (ROA) ($p < 0.05$). However, the coefficient of determination ($R^2 = 0.044$) indicates that both independent variables explain only 4.4% of the variance in profitability, while the remaining 95.6% is influenced by unmodelled external factors. These results suggest that while prudent capital structuring and short-term liquidity management remain essential for operational stability, palm oil profitability is heavily dependent on broader macroeconomic dynamics and commodity price fluctuations
Co-Authors Annisa Paramaswary Aslam Anwar Anwar Anwar Ramli