ANALISA KINERJA KEUANGAN PADA PERUSAHAAN INFRASTRUKTUR TAHUN 2019 SAMPAI 2023 DI INDONESIA
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Eka Noviana Putri(1*)
Program Studi Akuntansi, Fakultas Ekonomi dan Bisnis, Universitas Esa Unggul
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Menik Indrati(2)
Program Studi Akuntansi, Fakultas Ekonomi dan Bisnis, Universitas Esa Unggul
(*) Corresponding Author
Keywords:
Investment Decisions, Capital Structure, Dividend Policy, Inflation, Financial Performance
Abstract
This research aims to analyze the influence of investment decisions, capital structure, dividend policy, and inflation on a company's financial performance. This research consists of four independent ones consisting of investment decisions proxied by PER (Price Earning Ratio), capital structure proxied by DER (Debt to Equity Ratio), dividend policy proxied by DPR (Dividend Payout Ratio), and Inflation. And one dependent financial performance is proxied by ROA (Return on Assets). In this research, there were 51 companies in the infrastructure sector, but only 13 companies met the criteria. So of the 255 total observation data, only 65 data serve as sample size. The results of this research show that investment decisions have a negative effect on financial performance. Capital structure has a negative effect on financial performance. Dividend policy has a positive effect on financial performance. Inflation has a negative effect on financial performance. Overall, this research provides empirical evidence about the importance of managing investment decisions, capital structure, and dividend policy in improving company financial performance, as well as highlighting the negative impacts that must be anticipated by company management. This research can also be a consideration for investors and shareholders to be more careful in receiving financial report information provided by companies in making investment decisions in order to produce maximum returns from profits generated in financial performance reports.
Keywords: Investment Decisions; Capital Structure; Dividend Policy; Inflation; Financial Performance
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References
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https://doi.org/10.37641/jiakes.v8i3.358
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https://doi.org/10.1080/23311975.2020.1863175
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Bon, S. F., & Hartoko, S. (2022). The Effect of Dividend Policy, Investment Decision, Leverage, Profitability, and Firm Size on Firm Value. European Journal of Business and Management Research, 7(3), 7–13.
https://doi.org/10.24018/ejbmr.2022.7.3.1405
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Fan, J., Shi, F., Zhao, J., & Zhu, J. (2023). Trade Policy Uncertainty, Financial Frictions, and Monetary Policy. Annals of Economics and Finance, 24(1), 193–211.
Febrianti, S., & Indriyati, J. (2020). The Effect Of Wildfires On Sustainable Development. 14(1), 208–218.
Febyansyah, A., & Sifkhiana, C. (2022). Pengaruh Proporsi Dewan Komisaris Independen, Ukuran Perusahaan, Rasio Aktivitas dan Rasio Utang Terhadap Kinerja Keuangan Perusahaan. Journal Advancement Center for Finance and Accounting, 2(3), 1–27.
Foreski, A., Thamrin, K. M. H., & Andriana, I. (2024). The Influence Of Investment Policy, Funding Policy And Dividend Policy On Company Value. Al-Kharaj : Jurnal Ekonomi, Keuangan & Bisnis Syariah, 6(3), 1335–1353.
https://doi.org/10.47467/alkharaj.v6i3.3774
Freeman, R. E. (1984). A Stakeholder Approach to Strategic Management. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.263511
Ginting, M. C., & Silitonga, I. M. (2019). Pengaruh Pendanaan Dari Luar Perusahaan Dan Modal Sendiri Terhadap Tingkat Profitabilitas pada Perusahaan Property And Real Estate Yang Terdaftar di Bursa Efek Indonesia. Jurnal Manajemen, 5(2), 195–204.
Hampton, J. J. (1980). Financial decision making: concepts, problems, & cases.
Harrifradana, J. R. (2020). The Influence Of Macroeconomic Factors, Capital Structure, And Tato On Company Value With Financial Performance As An Intervening Variable.
Hartono, J. (2022). Portofolio dan Analisis Investasi. Andi Media.
Hasanah, U. (2023). Analysis Of The Effect Of Inflation, Gross Domestic Product, Risk Profile, Good Corporate Governance, Capital Adequacy Ratio On ROA.
Indrati, M., & Amelia, K. (2022). The Effect of Profitability, Liquidity, Leverage and Company Size on the Company’s Dividend Policy. Budapest International Research and Critics Institute-Journal (BIRCI-Journal), 5(3), 21787–21799.
https://doi.org/10.33258/birci.v5i3.6191%0Awww.bircu-journal.com/index.php/birci
Isma, N. N., Sutrisno T, & Rahman, A. F. (2023). The impact of inflation on firm value moderated by earnings quality in Indonesia. International Journal of Research in Business and Social Science (2147- 4478), 12(5), 217–222.
https://doi.org/10.20525/ijrbs.v12i5.2751
Johanes, S. R., Hendiarto, R. S., & Nugraha, N. M. (2021). The Effect of Institutional Ownership, Managerial Ownership, and Company Size To Dividend Policy. / International Journal of Trends in Accounting Research, 2(1), 87–96. https://journal.adaindonesia.or.id/index.php/ijtar/index
Julia, J., & Umar, H. (2021). Determinan Nilai Perusahaan pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia. Jurnal Akuntansi Dan Governance, 2(1), 25. https://doi.org/10.24853/jago.2.1.25-39
Kristy, H. N. (2024). Analysis of the Influence of Capital Structure, Dividend Policy, and Financial Performance on the Value of Telecommunication Sector Companies Listed on the Indonesian Stock Exchange for the 2018-2022 Period. 2(1).
Kusuma, T., & Indrati, M. (2023). Mekanisme Corporate Social Responsibility Dan Komite Audit Terhadap Kinerja Keuangan Dengan Manajemen Laba Sebagai Variabel Mediasi. JIMAT (Jurnal Ilmiah Mahasiswa Akuntansi) Undiksha, 14(03), 747–757. https://doi.org/10.23887/jimat.v14i03.57799
Lutfiah, S. Q., & Pangestuti, D. C. (2023). The Influence of Dividend Policy, Inflation, and Profitability on Company Value with CSR as Moderation. AKUNTABEL: Jurnal Akuntansi Dan Keuangan, 20(3), 388–402.
Mahajan, R., Lim, W. M., Sareen, M., Kumar, S., & Panwar, R. (2023). Stakeholder theory. Journal of Business Research, 166(December 2022), 114104.
https://doi.org/10.1016/j.jbusres.2023.114104
Mala, C. M. F. (2022). Kekuatan Pasar dan Kinerja Keuangan Perbankan Syariah Indonesiia dan Malaysia. CV Kampungku.
Mercyana, C., Hamidah, & Kurnianti, D. (2022). Pengaruh Struktur Modal, Profitabilitas, Ukuran Perusahaan dan Likuiditas terhadap Nilai Perusahaan Infrastruktur yang Terdaftar di BEI Periode 2016–2020. Jurnal Bisnis, Manajemen, Dan Keuangan, 3(1), 101–113. https://doi.org/10.21009/jbmk.0301.08
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Published
2024-07-23
How to Cite
Putri, E., & Indrati, M. (2024). ANALISA KINERJA KEUANGAN PADA PERUSAHAAN INFRASTRUKTUR TAHUN 2019 SAMPAI 2023 DI INDONESIA. Journal of Management : Small and Medium Enterprises (SMEs), 17(2), 817-835. https://doi.org/10.35508/jom.v17i2.17452
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