FACTORS AFFECTING PROFITABILITY IN BASIC MATERIALS COMPANIES LISTED ON IDX
Article Sidebar
Read Counter : 14
Download : 23
Main Article Content
Abstract
To determine what factors can influence profitability in basic materials companies listed on the IDX during 2019-2021, research was conducted using four independent variables such as, company size, company efficiency, leverage, and company age. Those independent variables are used to find out whether they are affecting company’s profitability. Company size is measured using the natural logarithm of total sales, company efficiency is measured using TATO (total asset turnover ratio), leverage is measured using DER (debt to equity ratio), company age is measured by subtracting the year of research from the year the company was listed on the IDX and profitability is measured using ROE (return on equity). The number of samples used in this research are 49 basic materials companies. The number of samples was processed and analyzed using a purposive sampling method. In processing the data, this research uses a multiple linear regression analysis and uses Statistical Program for Social Science (SPSS) 25 software. The result of the research shows that leverage has a significant and negative effect on profitability and company age does not have a significant effect on the profitability of basic materials companies listed on the IDX. Meanwhile, company size and company efficiency have a significant and positive effect on the profitability of basic materials companies listed on the IDX during 2019-2021.
Article Details
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
This journal provides immediate open access to its content on the principle that making research freely available to the public supports a greater global exchange of knowledge.
IJAEB by Graduate Program of Universitas Tarumanagara is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.. Permissions beyond the scope of this license may be available at https://journal.untar.ac.id/index.php/ijaeb
References
Ai, H., Frank, M. Z., & Sanati, A. (2020). The Trade-Off Theory of Corporate Capital Structure. Oxford Research Encyclopedia of Economics and Finance.
Alarussi, A. S., & Alhaderi, S. M. (2018). Factors Affecting Profitability in Malaysia. Journal of Economic Studies. 45(3), 442-458.
Alarussi, A. S., & Shamki, D. (2016). Company Characteristics, Dominant Personalities in Board Committees and Internet Financial Disclosures by Malaysian Listed Companies. Malaysian Management Journal. 20 (1&2).
Andreani, N. M., & Putra, I. P. (2019). Pengaruh Leverage dan Ukuran Perusahaan Terhadap Profitabilitas dengan Modal Intelektual sebagai Pemoderasi. E-Jurnal Akuntansi, 28.
Anggraini, I. D., & Cahyono, K. E. (2021). Pengaruh Modal Kerja, Likuiditas, Leverage dan Aktivitas Terhadap Profitabilitas (Studi pada Perusahaan Makanan dan Minuman yang Terdaftar di Bursa Efek Indonesia). Jurnal Ilmu Riset dan Manajemen. 10(5).
Aprilyani, A., & Siswanti, T. (2023). Pengaruh Current Ratio dan Total Assets Turnover terhadap Return on Assets pada Perusahaan Sub Industri Makanan Olahan yang Terdaftar di Bursa Efek Indonesia Tahun 2017-2020. Jurnal Ilmiah Mahasiswa Akuntansi, 3, 30-43.
Barney, J. (1991). Firm Resources and Sustained Competitive Advantage. Journal of Management, 17, 99-120.
Brigham, E. F., & Houston, J. F. (2019). Fundamentals of Financial Management. Massachusetts: Cengage Learning
Camalia, A. C., & Sampurno, R. D. (2022). Analisa Pengaruh Current Ratio, Debt to Equity Ratio, Total Asset Turnover Ratio, Total Sales, Working Capital terhadap Profitabilitas (Studi Kasus pada Perusahaan Kesehatan Subindustri Farmasi yang terdaftar di Bursa Efek Indonesia Periode 2016-2020). Diponegoro Journal of Management, 11.
Dawar, V. (2014). Agency Theory, Capital Structure and Firm Performance: Some Indian Evidence. Managerial Finance.40(12), 1190-1206.
Destari, A. Y., & Hendratno, H. (2019). Analisis Pengaruh Debt to Equity Ratio, Current Ratio, Total Asset Turnover, dan Size terhadap Return on Equity. Jurnal Akuntansi Audit dan Sistem Informasi Akuntansi, 3.
Fisena, O., & Widjaja, I. (2020). Faktor Penentu Profitabilitas Pada Perusahaan Manufaktur Sektor Consumer Goods. Jurnal Manajerial dan Kewirausahaan, 2.
Ginting, W. A., & Nasution, S. A. (2020). Studi Empiris: Pengaruh Firm Size, Current Ratio, dan Total Asset Turnover Terhadap Profitabilitas Melalui Return on Equity. Ekonomi, Keuangan, Investasi dan Syariah (EKUITAS), 1, 79-85.
Henny, & Susanto, L. (2019, April). Faktor-Faktor yang Mempengaruhi Profitabilitas pada Perusahaan Manufaktur. Jurnal Multiparadigma Akuntansi, 1(2), 390-398.
Hery. (2016). Analisis Laporan Keuangan Integrated and Comprehensive Edition. Jakarta: Grasindo.
Ilaboya, O. J., & Ohiokha, F. (2016). Firm Age, Size and Profitability Dynamics: A Test of Learning by Doing and Structural Inertia Hypotheses. Business and Management Research, 5(1), 29-39.
Irwansyah, I., Lestari, Y., & Adam, N. F. (2020). Pengaruh Ukuran Perusahaan dan Leverage Terhadap Agency Cost pada Perusahaan Otomotif yang Terdaftar di Bursa Efek Indonesia. Jurnal Ekonomi Keuangan dan Manajemen, 16.
Javed, T., Younas, W., & Imran, M. (2014). Impact of Capital Structure on Firm Performance: Evidence from Pakistani Firms. International Journal of Academic Research in Economics and Management Sciences, 3(5), 28-52.
Jensen, M. C., & Meckling, W. H. (1976). Theory of The Firm: Managerial Behavior, Agency Costs and Ownership Structure. Journal of Financial Economics, 3, 305-360.
Kasmir. (2017). Pengantar Manajemen Keuangan. Jakarta: PT Raja Grafindo Persada.
Klimenko, R., Naruetharadhol, P., & Ketkaew, C. (2018). Determinants of Market Players' Profitability in Thailand's Energy Sector. The International Journal of Interdisciplinary Organizational Studies, 13(1), 27-35.
Le, T. N., Mai, V. A., & Nguyen, V. C. (2020). Determinants of Profitability: Evidence From Construction Companies Listed on Vietnam Securities Market. Management Science Letters, 10(3), 523-530.
Leman, W., Suriawinata, I., & Noormansyah, I. (2020). The Effect of Capital Structure, Profitability and Company Size on Value of Companies In The Automotive Industry Sector Listed on IDX 2014-2018. Indonesian Journal of Business, Accounting and Management, 3, 77-82.
Mahmudin, M., Lau, E. A., & Tandirerung, B. (2019). The Effect of Current Ratio (CR), Debt to Equity Ratio (DER), Total Asset Turnover(TAT), and Firms Size (FS) to Return On Equity (ROE) in Mining Companies Listed on The Indonesia Stock Exchange in 2013-2018. Research Journal of Accounting and Business Management, 3(2).
Margaretha, F., & Supartika, N. (2016). Factors Affecting Profitability of Small Medium Enterprises (SMEs) Firm Listed in Indonesia Stock Exchange. Journal of Economics, Business and Management, 4(2), 132-137.
Modigliani, F., & Miller, M. (1963). Corporate Income Taxes and The Cost of Capital: A Correction. American Economic Review, 53, 433-443.
Nainggolan, M. N., Sirait, A., Nasution, O. N., & Astuty, F. (2022). Pengaruh Ukuran Perusahaan, Pertumbuhan Penjualan, dan Leverage Terhadap Profitabilitas Melalui Rasio ROA Pada Sektor Food & Beverage dalam BEI Periode 2015-2019. Jurnal Program Studi Akuntansi Politeknik, 6(1), 948-963.
Ngadiman, N., & Puspitasari, C. (2014). Pengaruh Leverage, Kepemilikan Institusional, dan Ukuran Perusahaan Terhadap Penghindaran Pajak (Tax Avoidance) Pada Perusahaan Sektor Manufaktur yang Terdaftar di Bursa Efek Indonesia 2010-2012. Universitas Tarumanagara Journal of Accounting, 18.
Nishanthini, A., & Nimalathasan, B. (2013). Determinants of Profitability: A Case Study of Listed Manufacturing Companies in Sri Lanka. Journal of Art, Social Science and Humanities, 1, 42-50.
Novyany, M. C., & Turangan, J. A. (2019). Pengaruh Likuiditas, Ukuran Perusahaan, Umur Perusahaan dan Pertumbuhan Perusahaan Terhadap Profitabilitas Pada Perusahaan Jasa Sektor Perdagangan, Jasa & Investasi yang Terdaftar pada Bursa Efek Indonesia. Jurnal Manajerial dan Kewirausahaan, 1.
Nurani, G. M., & Hanggana, S. (2020). Pengaruh Umur Listing, Leverage, Profitabilitas dan Reputasi Auditor Terhadap Internet Financial Reporting: Pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Tahun 2018. Jurnal Akuntansi dan Manajemen Mutiara Madani, 8(1).
Onoyi, N. J., & Windayati, D. T. (2021). Pengaruh Ukuran Perusahaan, Good Corporate Governance dan Efisiensi Operasi Terhadap Kinerja Keuangan. Zona Keuangan: Program Studi Akuntansi Universitas Batam, 11(1), 15-28.
Oyelade, A. O. (2019). The Impact of Firm Size on Firms Performance in Nigeria: A Comparative Study of Selected Firms in The Building Industry in Nigeria. University of Ibadan, Asian Development Policy Review, 7(1).
Paryanti, P., & Mahardhika, A. S. (2020). Kebijakan Hutang dengan Pendekatan Agency Theory pada Perusahaan Property dan Real Estate. Journal of Economics and Business Mulawarman University, 16(2), 327-338.
Peter, P., & Tanadi, H. (2020). Analisis Pengaruh Profitabilitas dan Hutang Terhadap Struktur Modal Perusahaan. Journal of Economics and Business Mulawarman University, 12(1), 76-89.
Pongrangga, R. A., Dzulkirom, M., & Saifi, M. (2015). Pengaruh Current Ratio, Total Asset Turnover dan Debt to Equity Ratio Terhadap Return on Equity. Jurnal Administrasi Bisnis (JAB), 25(2).
Prasetyo, A., & Wulandari, S. (2021). Capital Intensity, Leverage, Return on Asset, dan Ukuran Perusahaan Terhadap Agresivitas Pajak. Jurnal Akuntansi, 13, 134-147.
Purba, I. G., & Yadnya, I. P. (2015). Pengaruh Ukuran Perusahaan dan Leverage Terhadap Profitabilitas dan Pengungkapan Corporate Social Responsibility. E-Jurnal Manajemen Universitas Udayana, 4(8).
Rahman, F., & Sunarti. (2017). Pengaruh Marketing Expense, Ukuran Perusahaan, dan Umur Perusahaan Terhadap Tingkat Profitabilitas Perusahaan: Studi Empiris pada Industri Sektor Perbankan Indonesia yang Listing di BEI Periode 2011-2015. Jurnal Administrasi Bisnis (JAB), 52.
Rakhmawati, T. (2017). Pengukuran Efisiensi di Instansi Pemerintah dengan Metode Data Envelopment Analysis (DEA) untuk Mendukung Reformasi Birokrasi. LIPI Press.
Riyanto, B. (2013). Dasar-Dasar Pembelanjaan Perusahaan. Yogyakarta: BPFE.
Rolanda, I., Laksmiwati, M., & Ulfarianti, N. (2022). Pengaruh Current Ratio, Debt to Equity Ratio dan Total Assets Turnover Terhadap Return on Equity (Studi Empiris pada Perusahaan Sub Sektor Advertising, Printing, dan Media di Bursa Efek Indonesia Periode 2015-2020). Jurnal Ekonomika dan Manajemen, 11(1).
Sari, C., & Hatane, S. E. (2013). Pengaruh Loyalitas Pelanggan Terhadap Profitabilitas Pada Sebuah Perusahaan Jasa Automotive (PT "X") di Surabaya. Business Accounting Review, 1(2), 26-38.
Sastrawan, I. P., & Latrini, M. Y. (2016). Pengaruh Profitabilitas, Solvabilitas, dan Ukuran Perusahaan Terhadap Audit Report Lag pada Perusahaan Manufaktur. E-Jurnal Akuntansi Universitas Udayana, 17(1), 1-5.
Silwal, P. (2016). Effects of Corporate Governance on the Performance of Nepalese Firms. International Research Journal of Management Science, 1(1), 42-59.
Sudharyati, N., Nengsih, T. A., Anggraini, D., Efrina, L., Isnawati, Selviana, . . . Ismail, M. (2022). Faktor-Faktor yang Mempengaruhi Rasio Solvabilitas, Likuiditas, Rasio AKtivitas, dan Firm Size Terhadap Profitabilitas pada Perusahaan Saham Syariah. Jurnal Paradigma Ekonomika, 17(4), 751-762.
Sumantri, M. B., Widajatun, V., Susanti, N., & Nugraha, N. M. (2021). The Factors that Affect the Profitability of Banks Listed on the Indonesia Stock Exchange. Turkish Journal of Computer and Mathematics Education, 12(8).
Tailab, M. (2014). The Effect of Capital Structure on Profitability of Energy American Firms. International Journal of Business and Management Invention, 3,54-61.
Umdiana, N., & Sari, D. L. (2020). Analisis Keputusan Pendanaan Terhadap Struktur Modal Melalui Trade Off Theory. Jurnal Ilmiah Akuntansi Universitas Pamulang, 8(2).
Wernerfelt, B. (1984). A Resource-Based View of the Firm. Strategic Management Journal, 5(2), 171-180.
Wiyasti, I. R., & Ciptono, W. S. (2013). Analisis Strategi Bersaing di PT. Citra Van Titipan Kilat (Tiki). Tesis Magister Manajemen Universitas Gadjah Mada.
Zuchrinata, F. A., & Yunita, I. (2019). Pengaruh Inflasi, Suku Bunga Bank Indonesia, Debt to Equity Ratio, Ukuran Perusaahaan dan Umur Perusahaan Terhadap Profitabilitas Perusahaan Sub Sektor Pertambangan Batubara yang Terdaftar di BEI Tahun 2013-2017. Jurnal Ilmiah Manajemen Universitas Putera Batam, 7(2).