Azizi, Imroatul (2026) Pengaruh Leverage Terhadap Kinerja Keuangan (Studi Empiris pada Perusahaan Manufaktur yang Terdaftar Di Bursa Efek Indonesia Periode 2020-2024). Sarjana (S1) thesis, Universitas BPD.
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Abstract
Abstract
This study aims to analyze the effect of leverage on financial performance in manufacturing companies listed on the Indonesia Stock Exchange for the 2020-2024 period. Financial performance is proxied using Return On Assets (ROA), while leverage is measured through six indicators, namely Equity Multiplier (EM), Interest Coverage Ratio (ICR), Fixed Charge Coverage Ratio (FCCR), Degree of Financial Leverage (DFL), Debt-to-EBITDA Ratio, and Capitalization Ratio (CR). This study uses a quantitative approach with the System Generalized Method of Moments (GMM). The research sample consists of 28 manufacturing companies, with a total of 140 observations. The result of this study indicate that the Fixed Charge Coverage Ratio and Degree of Financial Leverage have a positive and significant effect on the company’s financial performance. Meanwhile, the Equity Multiplier and Debt-to-EBITDA Ratio have a negative but insignificant effect on financial performance. The Interest Coverage Ratio and Capitalization Ratio have a positive but insignificant effect on financial performance.
Keyword: leverage, financial performance, ROA, System-GMM
| Item Type: | Thesis (Sarjana (S1)) |
|---|---|
| Additional Information: | Penelitian ini bertujuan untuk menganalisis pengaruh leverage terhadap kinerja keuangan pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia periode 2020-2024. Kinerja keuangan diproksikan menggunakan Return On Assets (ROA), sedangkan leverage diukur melalui enam indikator yaitu Equity Multipler (EM), Interest Coverage Ratio (ICR), Fixed Charge Coverage Ratio (FCCR), Degree of Financial Leverage (DFL), Debt-to-EBITDA Ratio, dan Capitalization Ratio (CR). Penelitian ini menggunakan pendekatan kuantitatif dengan metode System Generalized Method of Moments (GMM). Sampel penelitian terdiri atas 28 perusahaan manufaktur dengan total 140 observasi. Hasil penelitian ini menunjukkan Fixed Charge Coverage Ratio dan Degree of Financial Leverage berpengaruh positif dan signifikan terhadap kinerja keuangan perusahaan. Sementara Equity Multipler dan Debt-to-EBITDA Ratio berpengaruh negatif namun tidak signifikan terhadap kinerja keuangan. Interest Coverage Ratio dan Capitalization Ratio memiliki pengaruh positif tetapi tidak signifikan terhadap kinerja keuangan. |
| Uncontrolled Keywords: | leverage, financial performance, ROA, System-GMM |
| Subjects: | H Social Sciences > HB Economic Theory H Social Sciences > HC Economic History and Conditions |
| Divisions: | Faculty of Law, Arts and Social Sciences > School of Management |
| Depositing User: | Wisudawan S1 |
| Date Deposited: | 01 Sep 2026 01:30 |
| Last Modified: | 01 Sep 2026 01:30 |
| URI: | https://eprints.ubpd.ac.id/id/eprint/173 |
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