The Influence of Internal Factors on Consumer Cyclicals' Corporate Debt Policy Listed on the IDX 2021-2023

Rut Elpina Br Nababan

Abstract


Permasalahan utama dalam penelitian ini muncul dari pentingnya memilih sumber pendanaan yang tepat bagi perusahaan, khususnya di sektor Consumer Cylicals yang membutuhkan pembiayaan besar untuk mendukung Penelitian ini bertujuan untuk menganalisis pengaruh profitabilitas, likuiditas, pertumbuhan perusahaan, dan struktur aset terhadap kebijakan utang pada perusahaan di sektor Consumer Cylicals yang tercatat di Bursa Efek Indonesia (BEI) selama periode 2021-2023. Penelitian ini menggunakan pendekatan kuantitatif dengan data sekunder dari laporan tahunan perusahaan. Sampel ditentukan dengan metode purposive sampling, perusahaan di sektor Konsorsium Silikal terdaftar di BEI sebanyak 123 perusahaan, dan perusahaan yang tidak memberikan laporan tahunan sebanyak 34 perusahaan sehingga diperoleh 90 perusahaan. Sementara itu, 77 data yang tidak memenuhi kriteria (casewise) dan data yang memenuhi persyaratan sebanyak 190 pengamatan alat analisis yang digunakan adalah regresi linier berganda. Hasil penelitian menunjukkan bahwa struktur aset memiliki pengaruh positif dan signifikan terhadap kebijakan utang perusahaan, di sisi lain, profitabilitas, likuiditas, dan pertumbuhan perusahaan tidak mempengaruhi kebijakan utang. Perseroan menganggap struktur aset sebagai jaminan untuk memperoleh pendanaan eksternal daripada kinerja keuangan jangka pendek. Dapat disimpulkan bahwa perusahaan perlu mengelola struktur aset secara optimal untuk meningkatkan akses pembiayaan yang sehat, dan faktor profitabilitas dan likuiditas harus tetap dipertahankan sebagai indikator kesehatan keuangan secara umum, keterbatasan penelitian ini terletak pada ruang lingkup variabel yang hanya mencakup faktor internal serta ruang lingkup data yang terbatas pada sektor dalam tiga tahun ke depan, Studi ini disarankan untuk memasukkan variabel eksternal seperti suku bunga, inflasi dan faktor moratorium lainnya serta memperluas objek penelitian di sektor industri lainnya

Keywords


Profitability, Liquidity, Company Growth, Asset Structure, Debt Policy

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References


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DOI: https://doi.org/10.21107/mediatrend.v20i1.29583

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