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All Journal EBISMA: Jurnal Ekonomi, Bisnis, Manajemen dan Akuntansi
Yusi Tri Utari Panggabean
STIE Al Washliyah Sibolga
Economics, Econometrics & Finance

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Pengaruh Debt to Asset Ratio terhadap Return On Equity Pada Usaha Nani Collection Sibolga Yohana Defi Sartika Luahambowo; Yusi Tri Utari Panggabean
EBISMA : Jurnal Ekonomi, Bisnis, Manajemen dan Akuntansi Vol. 2 No. 02 (2026): EBISMA : Jurnal Ekonomi, Bisnis, Manajemen dan Akuntansi
Publisher : EBISMA : Jurnal Ekonomi, Bisnis, Manajemen dan Akuntansi

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Abstract

This study analyzes the effect of Debt to Asset Ratio (DAR) on Return on Equity (ROE) at Nani Collection Sibolga using a quantitative descriptive correlational approach. Secondary financial statement data from 2020–2024 were analyzed using SPSS, including classical assumption tests, simple linear regression, and t-tests. The results show a positive but low correlation (r = 0.258) between DAR and ROE, with an insignificant effect (p = 0.675) and DAR contributing only 6.7% to ROE. These findings indicate that other factors play a more dominant role in determining the profitability of SMEs. Therefore, managing capital structure should be complemented by strategies such as improving operational efficiency and sales volume to enhance ROE.
Pengaruh Rasio Kas dan Rasio Cepat terhadap Return on Assets pada CV. Graha Mineral Kota Sibolga Ferdina Zai; Hadijah Sipahutar; Yusi Tri Utari Panggabean
EBISMA : Jurnal Ekonomi, Bisnis, Manajemen dan Akuntansi Vol. 2 No. 02 (2026): EBISMA : Jurnal Ekonomi, Bisnis, Manajemen dan Akuntansi
Publisher : EBISMA : Jurnal Ekonomi, Bisnis, Manajemen dan Akuntansi

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Abstract

Cash Ratio and Quick Ratio are important indicators in assessing a company’s ability to meet short-term obligations and utilize its assets efficiently. This study aims to examine the effect of Cash Ratio and Quick Ratio on Return on Assets (ROA) at CV. Graha Mineral Sibolga City during the period 2020–2024. The data were obtained from the company’s financial statements and analyzed using a quantitative method with multiple linear regression approach. Classical assumption tests, including normality, multicollinearity, autocorrelation, and heteroscedasticity tests, were conducted to ensure the validity of the model, while t-test and F-test were used to examine partial and simultaneous effects. The results showed that the average Cash Ratio was 154.36% with a range of 150.00%–160.00%, the Quick Ratio averaged 2.06 with a range of 1.88–2.30, and ROA averaged 14.58% with a variation of 14.49%–14.60%. The regression analysis indicated that partially, the Cash Ratio had a positive effect on ROA with a coefficient of 0.007, while the Quick Ratio had a negative effect with a coefficient of -0.171. However, the t-test results showed that both variables had no significant effect on ROA, with significance values of 0.498 and 0.458, respectively. Simultaneously, the F-test also indicated that Cash Ratio and Quick Ratio did not have a significant effect on ROA, with a significance value of 0.662. The coefficient of determination (R²) of 0.338 indicates that 33.8% of the variation in ROA is explained by these variables, while the remaining 66.2% is influenced by other factors outside the research model.
Co-Authors Ferdina Zai Hadijah Sipahutar Yohana Defi Sartika Luahambowo