ANALISIS PENGARUH RASIO SOLVABILITAS, STRUKTUR MODAL, DAN TANGGUNG JAWAB SOSIAL TERHADAP KINERJA KEUANGAN
DOI:
https://doi.org/10.55606/jcsrpolitama.v1i1.1103Keywords:
Solvency Ratio, Capital Structure, Social ResponsibilityAbstract
The purpose of this research is to determine the effect of solvency ratio, capital structure, and social responsibility on financial performance. This research uses 20 samples consisting of 5 companies in the cigarette industry subsector based on the time period 2018-2021. Data is collected from annual reports available on the Indonesia Stock Exchange (IDX). The analysis in this research uses 3 (three) approaches, including descriptive statistics, correlation, and regression. Based on the results of this research, it can be concluded that of the six elements, including ROA, ROE, DER, DAR, WC, and CSR, show good financial performance. In addition, DER and DAR measures negatively affect ROA and ROE. This is because the increase in solvency value causes the company's profit to decrease, it means that the company's high debt ownership makes the company pay higher interest so that the company's profit is small. WC and CSR have no impact on ROA and ROE. This is because the company's asset ownership can cover their current debt and CSR implementation can help convince interested parties to invest in the company. Based on the research conducted, the company should minimize the use of debt as funding in its operational activities, because it can affect the profitability of the company which causes a decrease in the value of ROA and ROE. In addition, the company should reconsider the implementation of CSR because it can help create a positive image of the company in the eyes of the public, even though the company's expenses will increase
References
Anggraini, F. R. (2016). Pengungkapan Informasi Sosial dan Faktor-Faktor yang Mempengaruhi Pengungkapan Informasi Sosial dalam Laporan Keuangan Tahunan (Studi Empiris pada Perusahaan-Perusahaan yang terdaftar Bursa Efek Jakarta). Universitas Sanata Dharma Yogyakarta.
Ariani, D. & Bati. (2018). Pengaruh CR, DER dan DAR Terhadap ROA pada Perusahaan Manufaktur Subsektor Farmasi yang Terdaftar di BEI. Jurnal Universitas Asahan, hal. 8.
Astari, S. (2015). Pengaruh Corporate Social Resonsibility (CSR) Terhadap Kinerja Keuangan pada Perusahaan Pertambangan yang Terdapat di Bursa Efek Indonesia (Periode 2012-2014). Jurnal Universitas Islam Indonesia, hal. 9-11.
Astuti, D. (2004). Manajemen Keuangan Perusahaan. Jakarta: Ghalia Indonesia.
Dermawan, S. (2009). Manajemen Keuangan. Jakarta: Mitra Wacana Media.
Elizabeth, S. M. (2016). Analisis Pengaruh Faktor Fundamental Terhadap Harga Saham dengan ROA Sebagai Elemen Intervening pada Saham Sektor Pertambangan di Bursa Efek Indonesia Periode 2013-2015. Politeknik Negeri Jakarta, hal. 7.
Felisia. (2011). “Pengukuran Kinerja Keuangan dengan Pendekatan Economic Value Added dan Financial Value Added.” Bina Ekonomi Majalah Ilmiah: Fakultas Ekonomi UNPAR.
Fraser, L. M. & Ormiston, A. (2016). Understanding Financial Statements (Vol. Eleventh Edition). United States of America: Pearson Education.
Harjito, A. & Martono. (2010). Manajemen Keuangan. Yogyakarta: Ekonesia.
Herliani, C. et al. (2019). Pengaruh Pengungkapan Corporate Social Responsibility (CSR) Terhadap Rasio Profitabilitas pada Perusahaan Sektor Pertanian yang Terdaftar di Bursa Efek Indonesia (BEI) Periode 2014-2018. Jurnal Universitas Pakuan, hal. 8.
Hery. (2015). Analisis Kinerja Manajemen: The Best Financial Analysis Menilai Kinerja Manajemen Berdasarkan Rasio Keuangan. Jakarta: PT Gramedia Widiasarana Indonesia (GRASINDO).
Hery. (2015). Analisis Laporan Keuangan. Edisi 1. Yogyakarta: Center for Academic Publishing Services.
Horngren et al. (2009). Cost Accounting: A Managerial Emphasis. Pearson International Edition: Prentice, hal. 10.
Kasmir. (2010). Pengantar Manajemen Keuangan. Edisi Kedua. Jakarta: Kencana.
Kasmir. (2013). Analisis Laporan Keuangan. Edisi Pertama, Cetakan keenam. Jakarta: PT. Raja Grafindo.
Kasmir. (2019). Analisis Laporan Keuangan (Vol. Edisi Revisi). Depok: Rajawali Pers.
Munawir, S. (2012). Analisis Informasi Keuangan. Liberty: Yogyakarta.
Murhadi, W. R. (2015). Analisis Laporan Keuangan, Proyeksi dan Valuasi Saham. Jakarta: Salemba Empat
Pangestika, M. et al. (2021). Pengaruh DAR dan TATO terhadap ROA pada Perusahaan Subsektor Makanan dan Minuman di BEI Tahun 2014-2020. Indonesian Journal of Economics and Management, 2(1), 9.
Prastowo, J. & Miftachul, H. (2011). Corporate Social Responsibility (CSR), “Kunci Meraih Kemuliaan Bisnis.” Yogyakarta: Samudra Biru.
Puspitasari, E. (2020). Pengaruh Current Ratio (CR), Debt to Asset Ratio (DAR) Dan Debt to Equity Ratio (DER) Terhadap Return on Asset (ROA) pada Perusahaan Manufaktur Subsektor Food and Beverage yang Terdaftar di Bursa Efek Indonesia (BEI) Periode 2015-2019. Jurnal Universitas Veteran, hal. 11.
Riyanto, B. (2010). Dasar-Dasar Pembelanjaan Perusahaan. Edisi 4. BPFE: Yogyakarta.
Sudana, I. M. (2015). Manajemen Keuangan Perusahaan. Edisi Kedua. Jakarta: Erlangga.
Wardhana, Aditya. (2011). Analisis Pengaruh Debt to Equity Ratio, Profit Margin on Sales, Total Asset Turn Over, Institutional Ownership Dan Insider Ownership Terhadap Return on Equity (Studi Perbandingan pada Perusahaan Non Keuangan yang Masuk LQ 45 Dan Perusahaan Non Keuangan yang Tidak Masuk LQ 45 di Bursa Efek Indonesia Periode Tahun 2006-2008). Jurnal Bisnis Strategi, 20(2), 4.
