PENGARUH RETURN ON ASSETS DAN PERTUMBUHAN ASET TERHADAP DEBT TO EQUITY RATIO PADA PERUSAHAAN SUB SEKTOR HOTEL, RESTORAN, DAN PARIWISATA YANG TERDAFTAR DI BURSA EFEK INDONESIA
DOI:
https://doi.org/10.46306/volatility.v1i1.34Keywords:
Debt to equity ratio (DER), return on assets (ROA), dan pertumbuhan aset, asset growthAbstract
A business will not be separated from what is called capital to finance all its business activities. Business in the hotel, restaurant, and tourism sub-sector companies is very volatile, from the observations that have been made, it has been found that many companies have debts that exceed their equity.
This study aims to determine the effect between return on assets (ROA) and asset growth on debt to equity ratio (DER) in companies in the hotel, restaurant, and tourism sub-sector companies for the 2014-2019 period.
This study uses a descriptive method with a quantitative approach, the samples in this study were obtained using the purposive sampling technique so that 28 samples from 47 companies were obtained. The type of data is secondary data in the form of financial statements. The data analysis technique uses panel data regression analysis with the help of the Eviews 8 application.
The results of the study partially return on assets to debt to equity ratio with a t-value of 0.833448 < 1.97436 t-value of the table and a value of Prob. 0.4060 > 0.05, asset growth to debt to equity ratio with a t-value of 1.355254 < 1.97436 t table and a Prob. value of 0.1776 > 0.05. The results of the simultaneous test with a statistical f value of 1.445745 < 3.05 f table and Prob. F-stats 0.083091 > 0.05. The results of the determination coefficient test with a squared R value of 0.233021.
Partial return on assets and asset growth do not have a significant positive effect on the debt to equity ratio, the results of the simultaneous test of return on assets and asset growth have no effect on the debt to equity ratio and the results of the R squared debt to equity ratio test can be explained by return on assets and asset growth of 23.30% and 76.70% was influenced by other factors
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