ANALISIS PENGARUH KEBIJAKAN UTANG TERHADAP KINERJA KEUANGAN PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR  DI BURSA EFEK INDONESIA

Khairedayati Khairedayati; Antung Noor Asiah; Ahmad Fauzi; Budi Dermawan

ANALISIS PENGARUH KEBIJAKAN UTANG TERHADAP KINERJA KEUANGAN PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA

Khairedayati Khairedayati, Antung Noor Asiah, Ahmad Fauzi, Budi Dermawan

Abstract

This study aims to determine the effect of debt policy on financial performance in manufacturing companies listed on the Indonesia Stock Exchange. Debt policy is proxied by short term debt (STD), long term debt (LTD), and total debt (TD), while financial performance is proxied by return on assets (ROA). The research period was conducted for three years, namely in 2015-2017. This research is a causal study with a quantitative approach, while based on the level of exploration this research includes associative research. The research population is all manufacturing companies listed on the Indonesia Stock Exchange for the period 2015-2017. The sample obtained was based on purposive sampling technique, and obtained 56 companies. Data analysis techniques used multiple linear regression with regression models using free short-term debt (STD) variables, long term debt (LTD), and total debt (TD) and the dependent variable return on assets (ROA). Based on data analysis that short term debt (STD), long term debt (LTD), and total debt (TD) simultaneously affect return on assets (ROA) in manufacturing companies listed on the IDX. The results of partial data analysis that short term debt (STD) and total debt (TD) do not affect return on assets (ROA) with massing-each has a significant value of 0,565 and 0,682 which means greater than the probability value of 0,05, while the long-term debt (LTD) partially affects the return on assets (ROA) with a significance value of 0,015, which means it is smaller than the probability of 0,05.

Full Text:

PDF (Bahasa Indonesia)

References

Bambang Wahyudiono. 2014. Mudah Membaca Laporan Keuangan. Jakarta: Penerbit Raih Asa Sukses.

Ghozali, I. 2011. Aplikasi Analisis Multivariate dengan Program SPSS. Edisi 5. Semarang: Badan Penerbit Universitas Diponegoro.

Ghozali, I. 2016. Aplikasi Analisis Multivariate dengan Program IBM SPSS 23. Semarang: Badan Penerbit Universitas Diponegoro.

Hanafi,M.B.A, D. M., & Halim,M.B.A.,Akt, P. 2016. Analisis Laporan Keuangan.

yogyakarta: UUP STIM YKPM.

Hardiyanto, W. S., & Darsono. 2015. Pengaruh Struktur Utang terhadap Kinerja Perusahaan. Diponegoro Journal of Accounting, 1-10. (http://proposal%20 skripsi/contoh%20yang%20berhubunga n/penelitian%20terdahulu/249907pengaruh-struktur-utang-terhadap-

kinerja135e0796.pdf. Diakses pada 21 Oktober 2018).

Kalia , N. S. 2013. Pengaruh Penggunaan Hutang Terhadap Profitabilitas: Studi pada PT SEMEN GRESIK Tbk. Jurnal Ilmu dan Riset Manajemen, 119-

(http://proposal%20skripsi/contoh

%20yang%20berhubungan/ penelitian% 20terdahulu/[JURNAL]%20NAZIA%2 0(1).pdf diakses pada 20 Oktober

Kasmir,S.E., M.M. 2016. Analisis Laporan Keuangan. Jakarta: Rajawali Pers.

Marsuki SE.DEA, D. 2010. Analisis Kritis Laporan Keuangan Bank Sentral Asean, Asia dan Eropa. Jakarta: Mitra Wacana Media.

Maulana, Z., & Safa, A. F. 2017. Pengaruh Hutang Jangka Pendek dan Hutang Jangka Panjang terhadap Profitabilitas pada PT Bank Mandiri Tbk. Jurnal Penelitian Ekonomi Akuntansi (Jens), 44-48. (http://proposal%20skripsi/ contoh%20yang%20berhubungan/penel itian%20terdahulu/397-Research%20 Results-1598-1-10-20171205.pdf diakses pada 20 Oktober 2018).

Munawir, AK, D. S. 2002. Analisis Informasi Keuangan . Yogyakarta: Liberty.

Munawir, AK,D.S. 2005. Analisis Laporan Keuangan. Yogyakarta: liberty.

Nadira, l., dan Rustam. 2013. Pengaruh Hutang Jangka Pendek dan Jangka Panjang terhadap Profitabilitas pada Perusahaan Perbankan yang Terdaftar di Bursa Efek Indonesia. Jurnal Ekonom, 176-185.

Rini, W. S., Ruwanti, G., & Ernawati, S. (2018). Capital Expenditure Determinants with Economic Growth as a Moderator in Regency and Municipal Government in South Kalimantan. International Journal of Accounting, Finance, and Economics, 1(1), 7-17.

Ruwanti, G., Chandrarin, G., & Assih, P. (2018, December). Effect Of Corporate Governance On Relationship Between Corporate Social Responsibility And Firm Sizes With Earnings Management. In 3rd International Conference of Graduate School on Sustainability (ICGSS) 2018.

Sanusi, A. 2017. Metodologi Penelitian Bisnis. Jakarta: Salemba Empat.

Sipahelut, R. C., Murni, S., & Rate, P. V. 2017. Analisis Kinerja Keuangan Perusahan Studi Kasus pada Perusahaan Sub Sektor Otomotif dan Komponen yang Terdaftar Di BEI Periode 20142016. Jurnal EMBA, 05, 4425-4434.

Sufiyati, A. 2016. Analisis Pengaruh Kebijakan Utang terhadap Kinerja Keuangan Perusahaan. Skripsi Fakultas Ekonomi Universitas Negeri Yogyakarta.(http://proposal%20skripsi/contoh %20yang%20berhubungan/penelitian% 20terdahulu/AthinihSufiyati_12808141 066.pdf (Diakses 13 september 2018).

Sugiyono. 2017. Metode Penelitian Bisnis (Pendekatan Kuantitatif, Kualitatif, Kombinasi dan R&D). Bandung:

Alfabeta.

Sustrisno. 2009. Manajemen Keuangan Teori, konsep dan Aplikasi. Yogyakarta: Ekonomisia.

Syahdan, S. A., Munawaroh, R. S., & Akbar, M. (2018). Balance Scorecard Implementation in Public Sector Organization, A Problem?. International Journal of Accounting, Finance, and Economics, 1(1), 1-6.

Wilistianingsih, R. 2014. Analisis Pengaruh Kebijakan Hutang terhadap Kinerja Keuangan pada Perusahaan Go Publik yang Terdaftar di BEI Tahun 2012. Skripsi Fakultas Ekonomi Dan Bisnis Universitas Muhammadiyah Surakarta .(http://proposal%20skripsi/contoh%20 yang%20berhubungan/penelitian%20ter dahulu/NASKAH%20PUBLIKASI.pdf diakses tanggal 13 September 2013).