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Dea Larasati
Universitas Potensi Utama

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THE EFFECT OF FREE CASH FLOW, TOTAL ASSET TURNOVER AND FIRM SIZE ON RETURN ON EQUITY OF FOOD AND BEVERAGE SUB-SECTOR COMPANIES LISTED ON THE INDONESIA STOCK EXCHANGE (2020–2025 PERIOD) Dea Larasati; Austin Alexander Parhusip
Journal of Accounting Research, Utility Finance and Digital Assets Vol. 5 No. 3 (2027): January - ON PROGRESS
Publisher : PT. Radja Intercontinental Publishing

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Abstract

This study aims to aximine and analyze the influence of Free Cash Flow, Total Asset Turnover, and Firm Size on Return on Equity (ROE) in food and beverage sub-sector companies listed on the Indonesia Stock Exchange during the 2020-2025 period. This study employs a quantitative approach using secondary data-specifically, annual financial reports obtained from the Indonesia Stock Exchange. The population consists of 97 companies; using a purposive sampling technique, 30 companies were selected bassed on the study`s criteria. The six-years observatiom periode yielded 180 data observations. Data analysis was conducted using multiple linear regression with the aid of IBM SPSS Statistics version 26. The results indicate that Free Cash Flow, Total Asset Turnover, and Firm Size simultaneously have a significant effect on Return on Equity. Individually, Free Cash Flow has a positive and significant effect on Return On Equity, with a t-statistic of 3,319 and a significancelevel of 0,001. Total Asset Turnover also has a positive and significant effect on Return on Equity, with a t-statistictof 1,983 and significance level of 0,049. Conversely, Firm Size has a negative and significant effect on Return on Equity, with a t-statistict of -3,069 and a significance level of 0,002. The R-square value of 0,126 indicates that Free Cash Flow, Total Asset Turnover, and Firm Size explain 12,6% of the variation in Return on Equity, While the remaining 87,4% is explained by factors outside the scope of this study.
Co-Authors Parhusip, Austin Alexander