JURNAL MANAJEMEN MOTIVASI
Vol 22 No 1 (2026): Jurnal Manajemen Motivasi

Digitalization, Leverage, and Liquidity as Determinants of Return on Equity: Evidence from Technology Firms Listed on the Indonesia Stock Exchange

Andriani, Nini (Unknown)
Putri Utami, Ayu (Unknown)
Azis R, Abdul (Unknown)
Jusmawati (Unknown)
Jannah Alwi, Miftahul (Unknown)

Article Info

Publish Date
16 Apr 2026

Abstract

This study examines the effect of digitalization and financial ratios on the financial performance of technology firms listed on the Indonesia Stock Exchange during 2020–2024. Digitalization is proxied by intangible assets, while financial ratios include DAR, DER, Current Ratio, and Quick Ratio. Using a quantitative approach with panel data regression on 17 selected firms, the results show that digitalization, DAR, and Quick Ratio positively and significantly affect Return on Equity (ROE), while DER and Current Ratio have a significant negative effect. These findings imply that digital transformation and financial structure play crucial roles in enhancing firm profitability. Keywords: Digitalization; Financial Ratios; Leverage; Liquidity; Return on Equity; Technology Firms; Panel Data

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Journal Info
JURNAL MANAJEMEN MOTIVASI
Website

Abbrev

jm_motivasi

Publisher

Universitas Muhammadiyah Pontianak

Subject

Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

Description

Jurnal Manajemen Motivasi (JMM) adalah Jurnal Ilmiah Fakultas Ekonomi dan Bisnis Universitas Muhammadiyah Pontianak yang diterbitkan secara berkala 2 (dua) kali dalam satu tahun (Juni dan Oktober) sebagai sarana untuk menyebarluaskan hasil penelitian dan ilmu pengetahuan di bidang ilmu manajemen ...