Brilliant International Journal of Management and Tourism
Vol. 6 No. 1 (2026): Brilliant International Journal Of Management And Tourism

Analysis of the Influence of Capital Structure, Ownership Structure, and Good Corporate Governance on Financial Performance at CV. Lestari Jaya Purnama

Jesita Almanna (Unknown)
Etty Harya Ningsi (Unknown)
Selvi Aristantya (Unknown)



Article Info

Publish Date
22 Apr 2026

Abstract

This study aims to examine the effect of capital structure, ownership structure, and good corporate governance (GCG) on the financial performance of CV. Lestari Jaya Purnama. Financial performance is a crucial indicator of a company’s sustainability and reflects the effectiveness of managerial decision-making. This research employs a quantitative approach with an associative design to analyze the relationships among variables. Primary data were collected through structured questionnaires distributed to employees who are directly involved in financial and managerial activities within the company. The data were analyzed using multiple linear regression to determine both partial and simultaneous effects of the independent variables on financial performance.The findings reveal that capital structure has a positive and significant effect on financial performance, indicating that an optimal proportion of debt and equity can enhance company profitability and efficiency. Ownership structure shows a negative effect on financial performance, suggesting that certain ownership compositions may reduce managerial flexibility and decision-making effectiveness. Meanwhile, good corporate governance has a positive and significant effect on financial performance, demonstrating that transparency, accountability, responsibility, independence, and fairness contribute to better financial outcomes. Furthermore, the simultaneous test results indicate that capital structure, ownership structure, and GCG collectively have a positive and significant influence on financial performance. These findings imply that strengthening governance practices and optimizing capital decisions are essential strategies for improving the financial performance of CV. Lestari Jaya Purnama.

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Journal Info

Abbrev

BIJMT

Publisher

Subject

Economics, Econometrics & Finance

Description

BIJMT : Brilliant International Journal Of Management And Tourism is published three times a year, in February, June and October by Lembaga Pengembangan Kinerja Dosen. This journal is SINTA 5 accredited (Decree of the Director General of Higher Education, Research and Technology Number ...