PENGARUH STRUKTUR MODAL, UKURAN PERUSAHAAN DAN KEPEMILIKAN INSTITUSIONAL TERHADAP KINERJA KEUANGAN PADA PERUSAHAAN SEKTOR CONSUMER NON-CYCLICALS SUB SEKTOR FOOD AND BEVERAGE YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2021-2024

Diah Permata Sani Simanullang; Robinhot Gultom; Dimita H.P. Purba

doi:10.36989/didaktik.v12i01.12164

Diah Permata Sani Simanullang Universitas Methodist Indonesia
Robinhot Gultom Universitas Methodist Indonesia
Dimita H.P. Purba Universitas Methodist Indonesia

DOI: https://doi.org/10.36989/didaktik.v12i01.12164

Keywords: capital structure, firm size, institutional ownership, financial performance

Abstract

This study aims to examine and analyze the influence of Capital Structure, Firm Size, and Institutional Ownership on Financial Performance in Consumer Non Cyclicals Sector Companies, specifically the Food and Beverage Sub-Sector listed on the Indonesia Stock Exchange for the Period 2021-2024. The independent variables in this study are Capital Structure measured by Debt to Equity Ratio (DER), Firm Size measured by Natural Logarithm of Total Assets, and Institutional Ownership (IO), while the dependent variable is financial performance measured using Return on Assets (ROA). This study employs a quantitative approach with multiple linear regression analysis method. The sample in this study was obtained using purposive sampling method. The data used are secondary data obtained from financial statements of companies listed on the IDX. Based on the established criteria and data processing, 42 companies were determined as the research sample. The results of this study indicate that partially Capital Structure has a significant negative effect on Financial Performance, while Firm Size has a negative and insignificant effect on financial performance. Institutional Ownership has a positive and significant effect on Financial Performance. Simultaneously, Capital Structure, Firm Size, and Institutional Ownership have a significant effect on Financial Performance.

References

Andika, L., & Istanti, S. L. W. (2024). Pengaruh dewan komisaris independen, struktur modal dan ukuran perusahaan terhadap kinerja keuangan. RATIO: Reviu Akuntansi Kontemporer Indonesia, 5(1), 81–92.

Arsyada, A. B., Sukirman, S., & Wahyuningrum, I. F. S. (2022). Pengaruh ukuran perusahaan, profitabilitas, dan keputusan investasi terhadap nilai perusahaan dengan struktur modal sebagai variabel moderating. Owner: Riset dan Jurnal Akuntansi, 6(2), 1648–1663.

Badan Pusat Statistik. (2025). Perkembangan indeks produksi industri manufaktur 2024. Jakarta: Badan Pusat Statistik.

Brigham, E. F., & Houston, J. F. (2019). Dasar-dasar manajemen keuangan (Edisi 14). Jakarta: Salemba Empat.

Fara, L., & Firdiana. (2020). Kepemilikan institusional, struktur modal, keputusan investasi, dan kinerja keuangan terhadap nilai perusahaan. Jurnal Ilmu dan Riset Akuntansi, 9(3), 1–20.

Ghozali, I. (2021). Aplikasi analisis multivariate dengan program IBM SPSS 26. Semarang: Badan Penerbit Universitas Diponegoro.

Kasmir. (2019). Pengantar manajemen keuangan (7th ed.). Jakarta: Prenadamedia Group.

Lestari, A., & Effriyanti, E. (2024). Pengaruh ukuran perusahaan, struktur modal dan corporate social responsibility terhadap kinerja keuangan. Journal of Management Accounting, Tax and Production, 2(2), 1091–1107.

Linggasari, D. A. N. Y., & Adnantara, K. F. (2020). Pengaruh DER, firm size, CR, dan WCTO terhadap ROA pada perusahaan manufaktur yang terdaftar di BEI periode 2016–2018. Jurnal Ilmiah MEA (Manajemen, Ekonomi, dan Akuntansi), 2(1), 33–49.

Nursita, M., & Ratnasari, F. (2022). Pengaruh debt to equity ratio, earning per share, dan ukuran perusahaan terhadap return saham. Jurnal Semarak, 5(3), 50–70.

Oktaviyana, D., Titisari, K. H., & Kurniati, S. (2023). Pengaruh leverage, likuiditas, struktur modal dan ukuran perusahaan terhadap kinerja keuangan. Journal of Economic, Business and Accounting (COSTING), 6(2), 1563–1573.

Putri, S. E., & Ratnasari, F. (2024). Pengaruh struktur modal, ukuran perusahaan dan pertumbuhan penjualan terhadap kinerja keuangan. Jurnal Akuntansi Barelang, 9(1), 218–228.

Sugiyono. (2023). Metode penelitian kuantitatif, kualitatif, dan R&D. Bandung: Alfabeta.

Yuliani, E. (2021). Pengaruh struktur modal, likuiditas dan pertumbuhan penjualan terhadap kinerja keuangan. Jurnal Ilmu Manajemen, 10(2), 111–122.

Yusdianto, Y., & Ramadhoni, A. (2023). Pengaruh kepemilikan institusional dan ukuran perusahaan Terhadap Kinerja Keuangan. Ikraith Ekonomika, 6(2), 153–161.