Authors:

Dhimas Rayendra Himawan, Fadlil Abdani

Abstract:

“This study aims to examine the effect of DER, CR, and company growth on financial performance projected by ROA. The research utilizes data from the annual reports of plantation issuers, namely the subsidiary of Holding Perkebunan Nusantara from 2016-2019. The sample determination method uses purposive sampling with an observation period from 2016 to 2019. The use of multiple linear regression analysis is used to test the hypothesis in this study. The results showed that DER, CR, and company growth had a negative and insignificant effect on the financial performance (ROA) of Holding Perkebunan Nusantara. The conclusion of the study is that DER, CR, and growth growth do not play an important role on financial performance (ROA). Keywords: Debt to Equity Ratio; Current Ratio; Company Growth.”

Keywords

Debt to Equity Ratio; Current Ratio; Company Growth.

Downloads:

Download data is not yet available.

References

  • Abundanti, N., & Sari, P. I. P. (2014). Penagruh Pertumbuhan Perusahaan dan Leverage Terhadap Profitabilitas dan Nilai Perusahaan (The Influence of Company Growth and Leverage on Profitability and Company Value). E-Jurnal Manajemen Universitas Udayana, 3(5), 1427–1441. https://ojs.unud.ac.id/index.php/Manajemen/article/view/7863
  • BPS. (2020). Berita resmi Statistik. Berita Resmi Statistik. https://www.bps.go.id/pressrelease.html
  • Dewi, D., & Sudiartha, G. (2017). Pengaruh Profitabilitas, Ukuran Perusahaan, Dan Pertumbuhan Aset Terhadap Struktur Modal Dan Nilai Perusahaan. E-Jurnal Manajemen Universitas Udayana, 6(4), 242635.
  • Dewi, N. K. V. C. (2015). NoPengaruh LDR, LAR, DER, dan CR Terhadap ROA Title. E-Journal Bisma Universitas Pendidikan Ganesha, 3(10).
  • IDX. (2020). Indonesia Stock Exchange Reports. Indonesia Stock Exchange. https://www.idx.co.id/
  • Kasmir. (2016). Analisis Laporan Keuangan. Raja Grafindo Persada.
  • Mahfudnurnajamuddin, & Suryanti. (2019). Pengaruh Struktur Modal dan Pertumbuhan Perusahaan Terhadap Profitabilitas dan Nilai Perusahaan. Center of Economic Student Journal, 2(2).
  • Muslih, M. (2019). Pengaruh Perputaran Kas Dan Likuiditas (Current Ratio) Terhadap Profitabilitas ( Return on Asset ). Kumpulan Riset Akuntansi, 11(1), 47–59.
  • Nugroho, A. S. (2014). Pengaruh Debt To Equity Ratio Dan Debt To Total Asset Ratio Terhadap Profitabilitas Perusahaan Sub Sektor Perkebunan Yang Terdaftar Di Bei Periode 2008-2012. Universitas bengkulu.
  • Putra, A., & Badjra, I. (2015). Pengaruh Leverage, Pertumbuhan Penjualan Dan Ukuran Perusahaan Terhadap Profitabilitas. E-Jurnal Manajemen Universitas Udayana, 4(7), 249411.
  • Ramdhonah, Z., Solikin, I., & Sari, M. (2019). Pengaruh Struktur Modal, Ukuran Perusahaan, Pertumbuhan Perusahaan, Dan Profitabilitas Terhadap Nilai Perusahaan (Studi Empiris pada Perusahaan Sektor Pertambangan yang Terdaftar di Bursa Efek Indonesia Tahun 2011-2017). Jurnal Riset Akuntansi Dan Keuangan, 7(1), 67–82. https://doi.org/10.17509/jrak.v7i1.15117
  • Sugiyono. (2019). Metode Penelitian Pendidikan. Alfabeta.
  • Wawan Cahyo, N., & Abdani, F. (2017). Pengaruh Profitabilitas, Dividend Policy, Leverage, Dan Keputusan Investasi Terhadap Nilai Perusahaan Konstruksi Di Bursa Efek Indonesia. Jurnal El-Muhasaba. 8(1).
  • Wedyaningsih, N., Nurlaela, S., & Titisari, K. H. (2019). Earning Per Share, Debt To Equity Ratio, Current Ratio Terhadap Profitabilitas Perusahaan Sub-Sektor Barang Konsumsi Di Bursa Efek Indonesia. Jurnal Ilmiah Edunomika, 3(01), 97–107. https://doi.org/10.29040/jie.v3i01.414
  • Maulita, D., & Tania, I. (2018). Pengaruh Debt To Equity Ratio (Der), Debt To Asset Ratio (Dar), Dan Long Term Debt To Equity Ratio (Lder) Terhadap Profitabilitas. Jurnal Akuntansi : Kajian Ilmiah Akuntansi (JAK), 5(2), 132. https://doi.org/10.30656/jak.v5i2.669
  • Jonathan, I. B. (2019). Pengaruh Struktur Modal, Ukuran Perusahaan, Pertumbuhan Perusahaan Terhadap Kinerja Keuangan Pada Perusahaan Non Keuangan Dengan Menggunakan Dupont System. Jurnal Muara Ilmu Ekonomi Dan Bisnis, 2(2), 419. https://doi.org/10.24912/jmieb.v2i2.1610
  • Lutfi, A. M., & Sunardi, N. (2019). Pengaruh Current Ratio (Cr), Return On Equity (Roe), Dan Sales Growth Terhadap Harga Saham Yang Berdampak Pada Kinerja Keuangan Perusahaan (Pada Perusahaan Manufaktur Sektor Makanan dan Minuman Yang terdaftar di Bursa Efek Indonesia). Jurnal SEKURITAS (Saham, Ekonomi, Keuangan Dan Investasi), 2(3), 83. https://doi.org/10.32493/skt.v2i3.2793
  • Suharna, D., & Silviyanti. (2019). Pengaruh Struktur modal dan pertumbuhan perusahaan terhadap profitabilitas. Jornal of Management Studies, 6(3), 157–166.
  • Pratika, I., & Primasari, N. H. (2020). Pengaruh Debt Equity Ratio, Pertumbuhan Aset, Perputaran Modal Kerja, dan Corporate Social Responsibility Terhadap Profitabilitas. Jurnal Akuntansi Dan Keuangan, 9(2), 109–120.
  • Dewi, N. K. V. C. (2015). Pengaruh LDR, LAR, DER, dan CR Terhadap ROA. E-Journal Bisma Universitas Pendidikan Ganesha, 3(10).
  • Wahyuni Sri. (2020). Metode Penelitian Akuntansi dan Manajemen (1st ed.). Percetakan STIM TKPN Yogyakarta.
  • Qamara, T., Wulandari, A., Sukoco, A., & Suyono, J. (2020). The Influence of Current Ratio, Debt to Equity Ratio, And Total Asset Turnover Ratio on Profitability of Transportation Companies Listed On the Indonesia Stock Exchange 2014-2018. :: :: IJIEEB :: International Journal of Integrated Education, Engineering and Business ::, 3(2), 81–93. https://doi.org/10.29138/ijieeb.v3i2.1169
  • Alarussi, A. S., & Gao, X. (2021). Determinants Of Profitability In Chinese Companies. International Journal Of Emerging Markets, ahead-of-print(ahead-of-print). https://doi.org/10.1108/IJOEM-04-2021-0539
  • Alsharari, N. M., & Alhmoud, T. R. (2019). The Determinants Of Profitability In -Compliant Corporations: Evidence From Jordan. Journal Of Islamic Accounting And Business Research, 10(4), 546–564. https://doi.org/10.1108/JIABR-05-2016-0055
  • Nanda, S., & Panda, A. K. (2018). The Determinants Of Corporate Profitability: An Investigation Of Indian Manufacturing Firms. International Journal Of Emerging Markets, 13(1), 66–86. https://doi.org/10.1108/IJoEM-01-2017-0013
  • Menichini, A. (2015). On The Determinants Of Firm Leverage: Evidence From A Structural Estimation. International Journal Of Managerial Finance, 11(2), 179–197. https://doi.org/10.1108/IJMF-04-2014-0054
  • Sharma, R. K. (2018). Factors Affecting Financial Leveraging For BSE Listed Real Estate Development Companies In India. Journal of Financial Management of Property and Construction, 23(3), 274–294. https://doi.org/10.1108/JFMPC-01-2017-0002
  • Ahrendsen, B. L., & Katchova, A. L. (2012). Financial Ratio Analysis Using ARMS Data. Agricultural Finance Review, 72(2), 262–272. https://doi.org/10.1108/00021461211250492
  • Drury, J. C. (1981). A Study Of Industry Financial Ratios. Management Decision, 19(1), 24–35. https://doi.org/10.1108/eb001265
  • Alarussi, A. S. A. (2021). Financial Ratios And Efficiency In Malaysian Listed Companies. Asian Journal Of Economics And Banking, 5(2), 116–135. https://doi.org/10.1108/ajeb-06-2020-0014
  • Yu-Thompson, Y., Lu-Andrews, R., & Fu, L. (2016). Liquidity And Corporate Governance: Evidence From Family Firms. Review Of Accounting And Finance, 15(2), 144–173. https://doi.org/10.1108/RAF-03-2015-0039
  • Pham, H. S. T., & Nguyen, D. T. (2019). The Effects Of Corporate Governance Mechanisms On The Financial Leverage–Profitability Relation. Management Research Review, 43(4), 387–409. https://doi.org/10.1108/MRR-03-2019-0136
  • Samo, A. H., & Murad, H. (2019). Impact Of Liquidity And Financial Leverage On Firm’s Profitability – An Empirical Analysis Of The Textile Industry Of Pakistan. Research Journal Of Textile And Apparel, 23(4), 291–305. https://doi.org/10.1108/RJTA-09-2018-0055
  • Dalci, I. (2018). Impact Of Financial Leverage On Profitability Of Listed Manufacturing Firms In China. Pacific Accounting Review, 30(4), 410–432. https://doi.org/10.1108/PAR-01-2018-0008
  • Basdekis, C., Christopoulos, A., Katsampoxakis, I., & Lyras, A. (2020). Profitability And Optimal Debt Ratio Of The Automobiles And Parts Sector In The Euro Area. Journal Of Capital Markets Studies, 4(2), 113–127. https://doi.org/10.1108/jcms-08-2020-0031
  • Ji, P., Yan, X., & Yu, G. (2020). The Impact Of Information Technology Investment On Enterprise Financial Performance In China. Chinese Management Studies, 14(3), 529–542. https://doi.org/10.1108/CMS-04-2019-0123
  • Lim, H., & Rokhim, R. (2021). Factors Affecting Profitability Of Pharmaceutical Company: An Indonesian Evidence. Journal Of Economic Studies, 48(5), 981–995. https://doi.org/10.1108/JES-01-2020-0021
  • Chowdhury, L. A. M., Rana, T., Akter, M., & Hoque, M. (2018). Impact Of Intellectual Capital On Financial Performance: Evidence From The Bangladeshi Textile Sector. Journal Of Accounting & Organizational Change, 14(4), 429–454. https://doi.org/10.1108/JAOC-11-2017-0109
  • Fees, W., Nguyen, T. T. M., & Xu-Fees, X. (2021). Financial Performance Analysis Of German Firms After Chinese Mergers And Acquisitions. Review Of International Business And Strategy, Ahead-Of-Print(Ahead-Of-Print). https://doi.org/10.1108/RIBS-10-2020-0129

PDF:

https://jurnal.harianregional.com/akuntansi/full-83332

Published

2022-02-26

How To Cite

HIMAWAN, Dhimas Rayendra; ABDANI, Fadlil. Determinan Kinerja Keuangan Pada Perusahaan Holding Perkebunan Nusantara.E-Jurnal Akuntansi, [S.l.], v. 32, n. 2, p. 494-505, feb. 2022. ISSN 2302-8556. Available at: https://jurnal.harianregional.com/akuntansi/id-83332. Date accessed: 28 Aug. 2025. doi:https://doi.org/10.24843/EJA.2022.v32.i02.p16.

Citation Format

ABNT, APA, BibTeX, CBE, EndNote - EndNote format (Macintosh & Windows), MLA, ProCite - RIS format (Macintosh & Windows), RefWorks, Reference Manager - RIS format (Windows only), Turabian

Issue

Vol 32 No 2 (2022)

Section

Articles

Creative Commons License This work is licensed under a Creative Commons Attribution 4.0 International License