Struktur Modal, Likuiditas Dan Ukuran Perusahaan Penentu Kinerja Keuangan Sektor Property Dan Real Estate

Abstract

Pandemi Covid-19 berdampak besar pada kinerja keuangan banyak perusahaan termasuk perusahaan sub sektor property dan real estate. Penelitian ini bertujuan untuk menguji pengaruh struktur modal, likuiditas dan ukuran perusahaan terhadap kinerja keuangan. Populasi dalam penelitian ini adalah perusahaan subsektor propertydan real estateyang terdaftar di BEI periode 2017-2021. Dengan menggunakan metode purposive samplingdalam penelitian ini diperoleh sampel sebanyak 14 perusahaan. Analisis data menggunakan analisis regresi linear berganda, uji t, uji F dan koefisien determinasi. Analisis data menggunakan software Eviews 10. Berdasarkan uji parsial (Uji t) struktur modal tidak berpengaruh signifikan sedangkan likuiditas danukuran perusahaan berpengaruh negatif dan signifikanterhadap kinerja keuangan. Hasil uji secara bersamasama (Uji F) menunjukkan bahwa struktur modal, likuiditas dan ukuran perusaahaan berpengaruh terhadapkinerja keuangan dengan nilai kontribusi sebesar 64,34%.

Factors Affecting Financial Performance in Non-Cyclicals Consumer Sector Companies

“…Capital structure is a form of financial relationship between the company's capital obtained from long-term loans and its own capital (Harsono & Pamungkas, 2020). The use of DER, which is used to measure capital structure, allows debt to (Wulandari & Sari, 2022) DER = be valued relative to equity and is used to understand which equity is collateralized by debt (Sutapa, 2018). Liquidity (X2)…”

“…Liquidity is an important number that represents the company's ability to pay debts, both short-term and long-term debts, and the use of current assets (Wulandari & Sari, 2022). The use of CR is used to measure liquidity.…”

Capital Structure and Company Size Impact on Financial Performance: A Literature Review

“…One method for assessing a company's financial performance is through ratio analysis. Financial performance, according to Rudianto in [8], refers to the achievements and results that have been achieved by company management when they carry out their duties and responsibilities effectively in managing company assets over a certain period of time According to Fahmi in [9], financial performance is used to evaluate whether a company has complied with financial principles. Next, Wiratna in [9]states that financial performance is the result of assessing the actions that have been taken and comparing the results with the standards that have been set as a whole.…”

“…Using debt to meet business needs can increase the financial burden on the business. These financial burdens can then impact business profits, and changes in business profits will impact overall financial performance [10] The company's financial relationships are described in the capital structure, which describes the comparison between the capital owned by the company and the capital obtained through debt or borrowing as financing (Fahmi, in [9]. According to Anggrainy and Priyadi in [9], capital structure shows how a company uses debt and equity to finance its assets.…”

“…These financial burdens can then impact business profits, and changes in business profits will impact overall financial performance [10] The company's financial relationships are described in the capital structure, which describes the comparison between the capital owned by the company and the capital obtained through debt or borrowing as financing (Fahmi, in [9]. According to Anggrainy and Priyadi in [9], capital structure shows how a company uses debt and equity to finance its assets. In addition, the capital structure indicates the financial condition of the company and shows how much of its own capital and longterm debt is used to finance its assets.…”