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Pengaruh Kondisi Likuiditas Perusahaan Terhadap Penentuan Kebijakan Struktur Modal Melalui Profitabilitas Perusahaan di Bursa Efek Indonesia Umadi, Dwi; Arapi, Rahmat
Empiricism Journal Vol. 7 No. 1: March 2026
Publisher : Lembaga Penelitian dan Pemberdayaan Masyarakat (LITPAM)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36312/0a4xs893

Abstract

Penelitian ini bertujuan untuk menganalisis pengaruh kondisi likuiditas terhadap kebijakan struktur modal melalui profitabilitas pada perusahaan sektor industri yang terdaftar di Bursa Efek Indonesia. Penelitian ini menggunakan pendekatan asosiatif untuk menjelaskan hubungan antara variabel independen dan dependen. Data yang digunakan merupakan data sekunder yang diperoleh dari laporan keuangan tahunan perusahaan sektor industri yang terdaftar di Bursa Efek Indonesia selama periode 2018–2025. Sampel penelitian terdiri dari 26 perusahaan yang dipilih menggunakan teknik purposive sampling. Variabel likuiditas diproksikan dengan current ratio (CR) dan quick ratio (QR), profitabilitas diproksikan dengan return on equity (ROE), sedangkan struktur modal diukur menggunakan debt to equity ratio (DER). Metode analisis yang digunakan adalah regresi data panel dengan bantuan perangkat lunak EViews 12 serta analisis jalur untuk menguji hubungan langsung dan tidak langsung antar variabel. Hasil penelitian menunjukkan bahwa current ratio berpengaruh negatif dan signifikan terhadap return on equity dan debt to equity ratio, sedangkan quick ratio berpengaruh positif dan signifikan terhadap return on equity dan debt to equity ratio. Selain itu, return on equity juga berpengaruh positif dan signifikan terhadap debt to equity ratio. Pengujian mediasi menggunakan uji Sobel menunjukkan bahwa return on equity mampu memediasi secara signifikan hubungan antara current ratio dan quick ratio terhadap debt to equity ratio. Temuan ini menunjukkan bahwa pengelolaan likuiditas yang optimal sangat penting bagi perusahaan dalam meningkatkan profitabilitas serta menentukan kebijakan struktur modal yang lebih efektif. The Effect of Corporate Liquidity Conditions on Capital Structure Policy Decisions through Corporate Profitability on the Indonesia Stock Exchange Abstract This study aims to analyze the effect of liquidity conditions on capital structure decisions through profitability in industrial sector companies listed on the Indonesia Stock Exchange. The study employs an associative research approach to examine the relationship between independent and dependent variables. The data used are secondary data obtained from the annual financial statements of industrial sector companies listed on the Indonesia Stock Exchange during the period 2018–2025. The research sample consists of 26 companies selected using purposive sampling techniques. Liquidity variables are proxied by the current ratio (CR) and quick ratio (QR), profitability is proxied by return on equity (ROE), while capital structure is measured using the debt to equity ratio (DER). The analysis method uses panel data regression with the assistance of EViews 12 and path analysis to test both direct and indirect relationships between variables. The results show that the current ratio has a negative and significant effect on return on equity and debt to equity ratio, while the quick ratio has a positive and significant effect on return on equity and debt to equity ratio. Furthermore, return on equity also has a positive and significant effect on debt to equity ratio. Mediation testing using the Sobel test indicates that return on equity significantly mediates the relationship between current ratio and quick ratio on debt to equity ratio. These findings indicate that optimal liquidity management is important for companies to improve profitability and determine more effective capital structure policies.
ANALISIS PENGARUH FAKTOR PRODUKSI TERHADAP KESEJAHTERAAN PETANI MELALUI PRODUKSI JAGUNG DI KAMPUNG NAENA MUKTIPURA KABUPATEN MIMIKA Haruna Rumalean; Gus Pujiriyono; Rahmat Arapi
Jurnal Ekonomi dan Bisnis Vol. 3 No. 4 (2025): JEBI: Jurnal Ekonomi dan Bisnis
Publisher : CV. Adiba Aisha Amira

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

This study aims to determine the effect of land area, capital, fertiliser, seeds, and farmer experience on farmer welfare through corn production in Naena Muktipura Village (SP VI), both directly and indirectly. The method used by the researcher is the associative method. The data collection technique used by the researcher was to distribute questionnaires to 50 respondents. The analytical tool used in this study was Path Analysis with the help of IBM SPSS v22. The results showed that land area, fertiliser, and farmer experience had a significant effect on corn production in Naena Muktipura Village, while capital and seeds did not have a significant effect on corn production in Naena Muktipura Village. Land area and capital had a significant effect on the welfare of farmers in Naena Muktipura Village, while fertiliser, seeds, farmer experience and production had no significant effect on the welfare of farmers in Naena Muktipura Village. Land area and farmer experience have a significant effect on farmer welfare through corn production in Naena Muktipura Village, while capital, fertiliser, and seeds have no significant effect on farmer welfare through corn production in Naena Muktipura Village, Mimika Regency