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All Journal Jurnal Akuntansi dan Pajak Journal of Economic, Bussines and Accounting (COSTING)
Rosmegawati Rosmegawati
Universitas Borobudur
Economics, Econometrics & Finance Social Sciences

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The Effect of Profitability Ratios and Capital Structure on Firm Value in Industrial Sector Manufacturing Companies Listed on the Indonesia Stock Exchange Rosmegawati Rosmegawati; Sumihar M.L. Tobing; Suhikmat Suhikmat; Mohammad Jon Tasrif; Helmut Martahi Saoloan Tambunan
Jurnal Akuntansi dan Pajak Vol 24, No 1 (2023): JAP : Vol. 24, No. 1, Februari 2023 - Juli 2023
Publisher : ITB AAS INDONESIA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29040/jap.v24i1.10337

Abstract

This study aims to analyze the effect of profitability and capital structure on the value of manufacturing companies in the pharmaceutical industry sector which are listed on the Indonesia Stock Exchange. Profitability in this study is measured using Return On Assets (ROA) and Return On Equity (ROE). The capital structure in this study is measured using the Debt To Equity Ratio (DER). This research approach uses a quantitative approach to determine the effect due to the variables studied and the data displayed in the form of numbers and analyzed using statistics. The samples in this study were 7 manufacturing companies in the pharmaceutical industry sector which were listed on the Indonesia Stock Exchange in 2016-2020. The data analysis technique used is multiple linear analysis. Partial test results show that measured profitability _ with Return On Assets (ROA) and Return On Equity (RO OE) has a significant effect on firm value Capital structure with DER has an effect on firm value. Profitability and capital structure simultaneously influence firm value. From the calculation of the coefficient of determination of 0.81_ or 81% of the company's value is influenced by profitability and capital structure. Keywords: ROA, ROE, DER, Tirm Value
Analisis Prediksi Financial Distress Atas Kinerja Keuangan PT. Wijaya Karya (Persero) Tbk Periode 2014 - 2023 Lucky Lukman; Rosmegawati Rosmegawati; Arni Kurniati; Suhikmat Suhikmat Suhikmat; Sumihar M. L. Tobing
Journal of Economic, Bussines and Accounting (COSTING) Vol 7 No 4 (2024): Journal of Economic, Bussines and Accounting (COSTING)
Publisher : Institut Penelitian Matematika, Komputer, Keperawatan, Pendidikan dan Ekonomi (IPM2KPE)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31539/costing.v7i4.10589

Abstract

The problem of accumulating debt burdens that entangle a number of state-owned enterprises in the construction sector or BUMN Karya is suspected to arise due to internal problems in governance. This situation is exacerbated by the burden of project assignments from the government that are not based on careful planning. This increase in debt occurred because the government provided assignments without participating in providing capital, so that each BUMN Karya sought other sources of funding, one of which was by increasing debt. The liabilities that burden PT Wijaya Karya (Persero) Tbk (WIKA) today are the result of the massive expansion of works financed by loans. The increase in WIKA's debt burden is due to the existence of pre-financing projects, where the payment scheme will be carried out after the project is completed. The payment scheme encourages an increase in the amount of company debt as capital for operational activities. The purpose of this study is to see and predict the extent to which financial performance affects financial distress at WIKA. The results showed that Return on Assets has a significant and positive effect on the occurrence of financial distress (Interest Coverage Ratio) and Current Ratio, Debt to Equity Ratio and Operating Cashflow have a significant and negative effect on the occurrence of financial distress (Interest Coverage Ratio).
Co-Authors Arni Kurniati Helmut Martahi Saoloan Tambunan Lucky Lukman Mohammad Jon Tasrif Suhikmat Suhikmat Suhikmat Suhikmat Suhikmat Sumihar M. L. Tobing Sumihar M.L. Tobing