<![CDATA[The purpose of this research is to analyze the influence of profitability, liquidity, and firm size on leverage within Consumer Non-Cyclicals companies listed on the Indonesia Stock Exchange (IDX) during 2022-2024. ROA serves as the proxy for profitability, CR for liquidity, and the natural logarithm of total assets for firm size, while DER is used to measure leverage. Using a quantitative panel data method with purposive sampling, the study collected data from 42 companies totaling 126 observations. Processing was carried out in E-views 13 with the Fixed Effect Model selected as the estimation approach. The results reveal that liquidity holds a negative and significant relationship with leverage, supporting Pecking Order Theory, while neither profitability nor firm size demonstrated a significant relationship with leverage across the 2022-2024 post-pandemic recovery period.]]>
Copyrights © 2026
