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Pengaruh Tangibility, Profitabilitas, Pertumbuhan Perusahaan, Non Debt Tax Shields, Cash Holding dan Ukuran Perusahaan terhadap Struktur Modal Perusahaan (Studi pada Perusahaan Manufaktur yang Listing di BEI Tahun 2010-2012) Widodo, Moch. Wahyu; Moeljadi; Djawahir, Achmad Helmy
Jurnal Aplikasi Manajemen Vol. 12 No. 1 (2014)
Publisher : Universitas Brawijaya, Indonesia

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Abstract

This study purposed to examine the effect of variable tangibility, profitability, growth, non-debt tax shields, cash holding and firm size on their capital structure of manufacturing company in Indonesia. The multiple regression analysis is used to analyze the data in this study. Data analysis are implied on manufacturing company which listed on Indonesia Stock Exchange in periode 2010-2012. A total of 72 companies met the criteria as population of study, all members of the population used as sample. The results of this study indicate that the increasing of tangibility will increase the company's capital structure, the high level of profit company has low levels of debt, and company size affect the size of the company's capital structure, while, there no significant effect was found between the company growth, non-debt tax shields and cash holdings to their capital structure.
Analysis of Factors Affecting Net Profit Margin: A Study of Telecommunication Companies Palevi Alren, Reza; Nurwati, Etty; Purwanto, Sri; Moeljadi; Supriadi, Yudi Nur; Mulyantini, Sri
Ilomata International Journal of Management Vol. 7 No. 1 (2026): January 2026
Publisher : Yayasan Sinergi Kawula Muda

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61194/ijjm.v7i1.1887

Abstract

This study investigates the impact of Return on Equity (ROE), Equity Ratio (ER), and Asset Turnover Ratio (ATR) on Net Profit Margin (NPM) among telecommunication companies listed on the Indonesia Stock Exchange during 2018–2022. Employing a quantitative approach with panel data regression using the Random Effects Model and secondary data from company annual reports, the findings indicate that ROE exerts a positive but relatively weak influence on NPM, while ER demonstrates a positive relationship approaching significance. Conversely, ATR shows a significant negative effect, underscoring that asset efficiency contributes less to profitability in the capital-intensive telecommunications sector. The model achieves an adjusted R² of 0.874, suggesting strong explanatory power. Overall, the results emphasize that managerial strategies should prioritize optimizing equity utilization and maintaining a robust capital structure rather than relying on asset turnover efficiency. Despite being limited to five firms and secondary data, this research enriches sector-specific financial performance analysis and provides valuable insights for managers and policymakers. Future studies are encouraged to extend the model by incorporating factors such as technological innovation, market competition, and regulatory dynamics to capture a more comprehensive understanding of profitability determinants in the industry.
Analysis of Factors Affecting Net Profit Margin: A Study of Telecommunication Companies Palevi Alren, Reza; Nurwati, Etty; Purwanto, Sri; Moeljadi; Supriadi, Yudi Nur; Mulyantini, Sri
Ilomata International Journal of Management Vol. 7 No. 1 (2026): January 2026
Publisher : Yayasan Sinergi Kawula Muda

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61194/ijjm.v7i1.1887

Abstract

This study investigates the impact of Return on Equity (ROE), Equity Ratio (ER), and Asset Turnover Ratio (ATR) on Net Profit Margin (NPM) among telecommunication companies listed on the Indonesia Stock Exchange during 2018–2022. Employing a quantitative approach with panel data regression using the Random Effects Model and secondary data from company annual reports, the findings indicate that ROE exerts a positive but relatively weak influence on NPM, while ER demonstrates a positive relationship approaching significance. Conversely, ATR shows a significant negative effect, underscoring that asset efficiency contributes less to profitability in the capital-intensive telecommunications sector. The model achieves an adjusted R² of 0.874, suggesting strong explanatory power. Overall, the results emphasize that managerial strategies should prioritize optimizing equity utilization and maintaining a robust capital structure rather than relying on asset turnover efficiency. Despite being limited to five firms and secondary data, this research enriches sector-specific financial performance analysis and provides valuable insights for managers and policymakers. Future studies are encouraged to extend the model by incorporating factors such as technological innovation, market competition, and regulatory dynamics to capture a more comprehensive understanding of profitability determinants in the industry.