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All Journal Journal of Studies in Academic, Humanities, Research, and Innovation
Safira Ainu Nadira Sofyan
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Religion Chemistry Economics, Econometrics & Finance Education Library & Information Science Mathematics Social Sciences Other

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The Impact Of Profitability And Liquidity On The Capital Structure Safira Ainu Nadira Sofyan; Nurman; Rezky Amalia Hamka; Anwar Ramli; Annisa Paramaswary Aslam
Journal of Studies in Academic, Humanities, Research, and Innovation Vol. 2 No. 2 (2025): December 2025
Publisher : Ponpes As-Salafiyyah Asy-Syafi'iyyah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.71305/sahri.v2i2.1148

Abstract

The real estate sector, as one of the most capital-intensive industries in Indonesia, experienced substantial financial fluctuation during the 2020–2024 period due to the economic impacts of the COVID-19 pandemic and subsequent monetary adjustments. These conditions raised important questions regarding the determinants of firms’ capital structure decisions, particularly profitability and liquidity. This study aims to examine the effect of profitability measured by return on assets (ROA) and liquidity measured by the current ratio (CR) on the capital structure of real estate companies listed on the Indonesia Stock Exchange. Using a quantitative associative design, the research analyzed 70 observations from 14 purposively selected companies with complete and consistent financial disclosures. Multiple linear regression was applied to assess both partial and simultaneous influences of the independent variables on the debt-to-equity ratio (DER). The results indicate that profitability has no significant effect on capital structure, suggesting that ROA does not play a central role in firms’ financing choices within this sector. In contrast, liquidity shows a negative and significant influence on DER, demonstrating that firms with stronger short-term financial capacity tend to reduce their reliance on debt financing. Simultaneously, ROA and CR significantly affect capital structure, with an R² value of 14.5%, while the remaining variation is explained by other factors not included in this study. These findings support the trade-off theory, which posits that firms balance the benefits of debt with potential financial risks to achieve an optimal structure. The study highlights the critical role of liquidity management in capital structure decisions and recommends its prioritization for firms in the real estate industry.
The Effect Of Liquidity On Tax Avoidance With Capital Structure As An Intervening Variable In Islamic Commercial Banks In Indonesia In 2019-2023 Arif Wansa; Shabrina Nurfadhilah Irwan; Safira Ainu Nadira Sofyan
Journal of Studies in Academic, Humanities, Research, and Innovation Vol. 3 No. 1 (2026): Vol 3 No 1 June 2026
Publisher : Ponpes As-Salafiyyah Asy-Syafi'iyyah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.71305/sahri.v3i1.1388

Abstract

This study aims to determine the effect of liquidity on tax avoidance through capital structure as an intervening variable with the object of research being banking companies listed on the Indonesia Stock Exchange (IDX) gallery. The independent variable studied is liquidity by the Loan to Deposit Ratio (LDR). The independent variable studied is Tax Avoidance represented by the Effective Tax Rate (ETR), and the intervening variable studied is Capital Structure represented by the Debt Equity Ratio (DER). The population studied is all banking companies listed on the Indonesia Stock Exchange (IDX) gallery for the period 2019-2023. The type of research used is a quantitative method. The sampling technique uses a purposive sampling technique and takes 10 banking companies that meet the requirements for research. This study uses PLS (Partial Least Square) using the SmartPLS application version 4.0. The research results obtained show that 1) Liquidity has a significant effect on tax avoidance, 2) Liquidity has a significant effect on capital structure, 3) capital structure has a positive effect on tax avoidance, 4) liquidity is able to significantly influence tax avoidance through capital structure.
Co-Authors Annisa Paramaswary Aslam Anwar Ramli Arif Wansa Nurman Rezky Amalia Hamka Shabrina Nurfadhilah Irwan