Escalate : Economics and Business Journal
Vol. 4 No. 4 (2026): Escalate : Economics and Business Journal

The Influence of Company Growth and Debt Policy on Profitability at PT Wijaya Karya (PERSERO) 2015-2025

Refty Amelia Putri (Program Studi Manajemen Fakultas Ekonomi Dan Bisnis Universitas Pamulang Tangerang Selatan)
Suryadi Marthadinata (Program Studi Manajemen Fakultas Ekonomi Dan Bisnis Universitas Pamulang Tangerang Selatan)



Article Info

Publish Date
22 Oct 2026

Abstract

Construction companies face financial challenges that require effective asset and debt management to maintain profitability. This study aims to determine the effect of company growth and debt policy on profitability at PT Wijaya Karya (Persero) Tbk for the period 2015–2025, both partially and simultaneously. This study uses a quantitative approach with an associative research type. The research population is the company's annual financial reports, with a sample of 11 annual financial reports for the period 2015–2025 determined using a saturated sampling technique. Secondary data were collected through observation, documentation, and literature study. Data analysis techniques include descriptive statistics, classical assumption tests, simple and multiple linear regressions, correlation and determination coefficients, as well as t-tests and F-tests with the help of SPSS 27. The results of the study indicate that company growth has a positive and significant effect on profitability, while debt policy has a negative and significant effect. Simultaneously, company growth and debt policy have a significant effect on profitability with an R Square value of 0.850. In conclusion, effective asset growth management and prudent debt policies are needed to support company profitability.

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Journal Info

Abbrev

escalate

Publisher

Subject

Economics, Econometrics & Finance

Description

Escalate invites both empirical and theoretical articles that explore micro and macro phenomena. The journals publication scope encompasses a wide array of domains, including macro and micro economics, business strategy and policy, entrepreneurship, finance and accounting studies, human resource ...