The influence of leverage toward financial performance in infrastructure, utilities and transportation companies listed at Indonesia stock exchange

Wijaya, Vensia (2020) The influence of leverage toward financial performance in infrastructure, utilities and transportation companies listed at Indonesia stock exchange. Bachelor thesis, Universitas Pelita Harapan.

	Text (Title) Title.pdf Restricted to Registered users only Available under License Creative Commons Attribution Non-commercial Share Alike. Download (335kB)
Preview	Text (Abstract) Abstract.pdf Available under License Creative Commons Attribution Non-commercial Share Alike. Download (141kB) | Preview
	Text (ToC) ToC.pdf Restricted to Registered users only Available under License Creative Commons Attribution Non-commercial Share Alike. Download (385kB)
Preview	Text (Chapter1) Chapter1.pdf Available under License Creative Commons Attribution Non-commercial Share Alike. Download (402kB) | Preview
	Text (Chapter2) Chapter2.pdf Restricted to Registered users only Available under License Creative Commons Attribution Non-commercial Share Alike. Download (721kB)
	Text (Chapter3) Chapter3.pdf Restricted to Registered users only Available under License Creative Commons Attribution Non-commercial Share Alike. Download (453kB)
	Text (Chapter4) Chapter4.pdf Restricted to Registered users only Available under License Creative Commons Attribution Non-commercial Share Alike. Download (899kB)
	Text (Chapter5) Chapter5.pdf Restricted to Registered users only Available under License Creative Commons Attribution Non-commercial Share Alike. Download (144kB)
Preview	Text (Bibliography) Bibliography.pdf Available under License Creative Commons Attribution Non-commercial Share Alike. Download (248kB) | Preview
	Text (Appendices) Appendices.pdf Restricted to Repository staff only Available under License Creative Commons Attribution Non-commercial Share Alike. Download (887kB)

Abstract

The objective of this research is to investigate the influence of leverage, represented by the Debt Ratio (DAR), the Debt to Equity Ratio (DER), and Times Interest Earned (TIE) on financial performance, represented by the Return on Assets (ROA) in the Infrastructure, Utilities and Transportation sector company listed in Indonesia Stock Exchange (IDX) throughout the period of 2016-2018. The population in this research consists of 78 companies. After filtering through the criteria, 16 companies for each year are selected for the research samples. The result shows that partially, Debt Ratio (DAR) has a negative influence on the Return on Assets (ROA), meanwhile Debt to Equity Ratio (DER) and Times Interest Earned (TIE) has a positive influence on Return on Assets (ROA). Simultaneously, Debt Ratio (DAR), Debt to Equity Ratio (DER), and Times Interest Earned (TIE) has a significant influence on Return on Assets (ROA). The coefficient of determination shows 57.5%, indicating that financial performance variable can be explained by the leverage variables as much as 57.5%. The implications of this research are the amount of debt finance in the financial mix of the firm should be at the optimal level so as to ensure maximum utilization of the firms’ assets. In addition, for the infrastructure, utilities and transportation sector companies to consider the amount of debt usage, for investors to analyze financial statement thoroughly before making an investment and for future researchers to add more variables and extend the period of research to broaden the outcome of these findings. / Tujuan dari penelitian ini adalah untuk meneliti pengaruh leverage terhadap financial performance, dengan Debt Ratio (DAR), Debt to Equity Ratio (DER), dan Times Interest Earned (TIE) sebagai variable independen dan Return on Asset (ROA) sebagai variabel dependen pada perusahaan sektor Infrastruktur, Utilitas dan Transportasi yang terdaftar di Bursa Efek Indonesia (BEI) sepanjang periode 2016-2018. Data terdiri dari jumlah populasi 78 perusahaan. Setelah memilah sesuai kriteria, 16 perusahaan untuk setiap tahun tersebut digunakan sebagai sampel penelitian. Hasil penelitian menunjukkan bahwa Debt Ratio (DAR) memiliki dampak negatif terhadap Return on Asset (ROA), sedangkan Debt to Equity Ratio (DER) dan Times Interest Earned (TIE) memiliki dampak positif terhadap Return on Asset (ROA). Di sisi lain, secara simultan Debt Ratio (DAR), Debt to Equity Ratio (DER), dan Times Interest Earned (TIE) memiliki pengaruh pada Return on Asset (ROA). Koefisien determinasi menunjukkan 57,5%, yang menandakan variabel leverage dapat dijelaskan oleh variabel financial performance sebesar 57,5%. Implikasi penelitian menyimpulkan bahwa pemanfaatan dana pinjaman dalam pembiayaan perusahaan harus tetap terjaga pada tingkat optimal agar dapat memaksimalkan penggunaan aset perusahaan secara keseluruhan. Selain itu, bagi perusahaan sektor infrastruktur, utilitas dan transportasi untuk mempertimbangkan jumlah penggunaan dana pinjaman, bagi investor untuk lebih teliti menganalisa laporan keuangan sebelum berinvestasi dan bagi peneliti selanjutnya untuk menambah variabel dan periode penelitian agar menghasilkan jawaban penelitian yang lebih luas.

Actions (login required)

View Item