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All Journal Santhet: (Jurnal Sejarah, Pendidikan Dan Humaniora)
Putri Erika Wendari Harahap
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Humanities Environmental Science Other

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Business Risk in Moderating the Effect of Capital Structure on Financial Performance in Listed Companies in Indonesia: Risiko Bisnis dalam Memoderasi Pengaruh Struktur Modal terhadap Kinerja Keuangan pada Perusahaan Terdaftar di Indonesia Putri Erika Wendari Harahap; Irdha Yusra
Santhet: (Jurnal Sejarah, Pendidikan Dan Humaniora) Vol 9 No 1 (2025): SANTHET: (JURNAL SEJARAH, PENDIDIKAN DAN HUMANIORA) 
Publisher : Proram studi pendidikan Sejarah Fakultas Keguruan Dan Ilmu Pendidikan Universaitas PGRI Banyuwangi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36526/santhet.v9i1.5004

Abstract

This study aims to examine the effect of capital structure on financial performance as measured by Return on Asset (ROA) and the role of business risk as a moderating variable. Secondary data is taken from the financial statements of manufacturing companies listed on the Indonesia Stock Exchange (IDX) for the 2019-2023 period, with a total sample of 73 companies selected using purposive sampling technique. Data analysis was carried out using multiple linear regression and moderating regression analysis.The results showed that short-term debt has a significant positive effect on ROA, while long-term debt and total debt have a significant negative effect on ROA. In addition, business risk can moderate strengthen the relationship between short-term debt and ROA, but weaken the relationship between long-term debt and ROA. Meanwhile, business risk does not moderate the relationship between total debt and ROA.
Co-Authors Irdha Yusra