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Idris Purwanto
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Decision Sciences, Operations Research & Management

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Financial Leverage Dan Financial Performance : Studi Pada Perusahaan Energi Di Indonesia Irton; Idris Purwanto; Khalis Purwanto; Ahmad Fauzan; Dinda Sukmaningrum
Jurnal Aplikasi Bisnis Volume 22 No. 1, Juni 2025
Publisher : Program Sarjana Terapan Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/jabis.vol22.iss1.art4

Abstract

Abstrak Penelitian ini menguji pengaruh penggunaan leverage terhadap kinerja keuangan 30 perusahaan energi di Indonesia. Periode pengamatan dilakukan dari tahun 2017-2024 untuk perusahaan energi yang terdaftar di bursa Efek Indonesia. Data diperoleh dari laporan keuangan perusahaan yang diterbitkan website IDX dan data analisis dari lembaga riset. Teknik analisis regresi digunakan untuk menentukan pengaruh leverage terhadap kinerja keuangan. Model panel digunakan untuk menguji pengaruh short term debt ratio (STDR), long term debt ratio (LTDR), dan total debt equity ratio (TDER) terhadap return on equity (ROE). Hasil dari penelitian ini memperlihatkan bahwa STDR, LTDR tidak berpengaruh pada return on equity (ROE), sedangkan TDER berpengaruh signifikan. Semakin besar hutang perusahaan energi memungkinkan mereka dapat meningkatkan kinerja keuangan, tetapi juga akan menurunkan kekayaan pemegang saham yang dapat dilihat dari ROE. Kata Kunci : Leverage Keuangan, Kinerja Kuangan, Return on Equity, Bursa Efek Indonesia. The Abstract This study examines the effect of leverage on the financial performance of 30 energy companies in Indonesia. The observation period was conducted from 2017-2024 for energy companies listed on the Indonesia Stock Exchange. Data were obtained from the company's financial statements published on the IDX website and analysis data from research institutions. Regression analysis techniques were used to determine the effect of leverage on financial performance. The panel model was used to test the effect of the short-term debt ratio (STDR), long-term debt ratio (LTDR), and total debt equity ratio (TDER) on return on equity (ROE). The results of this study show that STDR, LTDR have no effect on return on equity (ROE), while TDER has a significant effect. The greater the debt of energy companies allows them to improve financial performance, but will also reduce shareholder wealth as seen from ROE. Keyword : Financial Leverage, Financial Performance, Return on Equity (ROE), Indonesia Stock Exchange.
Co-Authors Ahmad Fauzan Dinda Sukmaningrum Irton Khalis Purwanto