MODERASI UMUR PERUSAHAAN DALAM HUBUNGAN ANTARA STRUKTUR MODAL DAN KINERJA KEUANGAN PERUSAHAAN PERTAMBANGAN BATUBARA DI INDONESIA

Ririh Anggraini Setyahety

doi:10.21831/efisiensi.v20i1.56730

MODERASI UMUR PERUSAHAAN DALAM HUBUNGAN ANTARA STRUKTUR MODAL DAN KINERJA KEUANGAN PERUSAHAAN PERTAMBANGAN BATUBARA DI INDONESIA

Ririh Anggraini Setyahety, Universitas PGRI Madiun, Indonesia

10.21831/efisiensi.v20i1.56730

Abstract

Abstrak: Moderasi Umur Perusahaan dalam Hubungan antara Struktur Modal dan Kinerja Keuangan Perusahaan Pertambangan Batubara di Indonesia. Tujuan dari artikel penelitian ini adalah untuk menganalisis pengaruh struktur modal terhadap kinerja perusahaan pertambangan batubara di Indonesia. Hasil empiris menunjukkan bahwa semua ukuran struktur modal dengan variabel debt to total asset ratio dan current ratio memiliki signifikansi terhadap profitabilitas. Sebaliknya, debt equity ratio tidak memiliki signifikansi terhadap profitabilitas. Umur perusahaan sebagai variabel moderasi pada penelitian ini tidak memoderasi pengaruh struktur modal terhadap profitabilitas. Data yang digunakan dalam penelitian ini adalah laporan keuangan tahunan periode 2012-2021. Metode analisis data yang digunakan dalam penelitian ini adalah analisis regresi linier sederhana dan pengujian hipotesis menggunakan t-statistik untuk menguji korelasi dan koefisien determinasi untuk menguji pengaruh Struktur Modal terhadap Profitabilitas menggunakan program SPSS. Terdapat keterbatasan di dalam penelitian ini bahwa dalam penelitian ini tidak memungkinkan dilakukan pengujian dengan menggunakan lag yang panjang karena data yang digunakan dalam penelitian ini sangat terbatas.

Kata kunci: struktur modal; kinerja keuangan; pertambangan batubara

Abstract: Moderation of Firm Age in the Relationship between Capital Structure and Financial Performance of Coal Mining Companies in Indonesia. The purpose of this research article is to analyze the effect of capital structure on the performance of coal mining companies in Indonesia. Empirical results show that all measures of capital structure with variable debt to total asset ratio and current ratio have a significant effect on profitability. In contrast, the debt-equity ratio has no significance on profitability. Firm age as a moderating variable in this study does not affect capital structure on profitability. The data used in this study are annual financial reports for the 2012-2021 period. The data analysis method used in this study is simple linear regression analysis and hypothesis testing using t-statistics to test the correlation and coefficient of determination to overcome the effect of Capital Structure on Profitability using the SPSS program. There are limitations to this study. That in this study it is not possible to test using a long lag, because the data used in this study is very limited.

Keywords: capital structure; firm performance; mining company

Keywords

Struktur Modal; Kinerja Keuangan; Pertambangan Batubara; Capital structure; Firm performance; Mining company

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DOI: https://doi.org/10.21831/efisiensi.v20i1.56730