ANALISIS PENGARUH RASIO LIKUIDITAS, RASIO SOLVABILITAS, DAN EFISIENSI OPERASI TERHADAP KINERJA KEUANGAN (STUDI PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BEI PERIODE 2019-2023)

• CAROLINA M. NAINGGOLAN
• 2025

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Carolina Marisi Mora Nainggolan, (63200678), Analysis of the Effect of Liquidity Ratio, Solvency Ratio, and Operating Efficiency on Financial Performance (Study of Manufacturing Companies for the 2019-2023 Period).

 

The decline in the competitiveness of the manufacturing sector in Indonesia, characterized by slowing average growth and challenges such as dependence on imported raw materials, inadequate infrastructure, and pressure from global competition, has affected the stability of the company's financial performance. This study focuses on analyzing the influence of liquidity ratios, solvency ratios, and operating efficiency on the financial performance of manufacturing companies listed on the Indonesia Stock Exchange (IDX) during the 2019-2023 period. This study aims to understand how these factors can provide a comprehensive picture of the stability and effectiveness of financial management in the manufacturing sector, which has a significant role in the national economy. This research uses descriptive quantitative method, the research data is in the form of annual financial reports from 10 manufacturing companies selected using purposive sampling technique. The analysis was conducted through the panel data regression method, and with classical assumption testing including normality, multicollinearity, heteroscedasticity, and autocorrelation tests to ensure the validity of the regression model. The research uses indicators such as current ratio (Liquidity Ratio), debt-to-equity ratio (Solvency Ratio), total asset turnover (Operating Efficiency), and return on assets (Financial Performance). The results showed that in manufacturing companies listed on the Indonesia Stock Exchange (IDX) for the 2019-2023 period, Liquidity Ratio, Solvency Ratio, and Operating Efficiency partially had a significant effect on Financial Performance. This is indicated by the p-value of 0.025, 0.033, and 0.015, respectively, which is smaller than alpha 0.05. Simultaneously, the F-count test of 8.362 with a p-value of 0.015 also confirms that these three independent variables together have a significant influence on the company's Financial Performance.

 

 

Keywords: Liquidity Ratio, Solvency Ratio, Operating Efficiency, Financial Performance, Manufacturing Company.

https://repository.bsi.ac.id/repo/61487/ANALISIS-PENGARUH-RASIO-LIKUIDITAS,-RASIO-SOLVABILITAS,-DAN-EFISIENSI-OPERASI-TERHADAP-KINERJA-KEUANGAN-(STUDI-PADA-PERUSAHAAN-MANUFAKTUR-YANG-TERDAFTAR-DI--BEI-PERIODE-2019-2023)
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