Optimalisasi Pertumbuhan Laba: Peran likuiditas dan profitabilitas
Profit Growth Optimisation: The role of liquidity and profitability
Abstract
Penelitian ini menganalisis pengaruh likuiditas dan profitabilitas terhadap pertumbuhan laba di sektor industri farmasi Indonesia, dengan fokus pada Current Ratio (CR), Total Asset Turnover (TAT), dan Return on Assets (ROA). Menggunakan data sekunder dari perusahaan yang terdaftar di Bursa Efek Indonesia selama periode 2019-2023, hasil menunjukkan bahwa CR tidak berpengaruh signifikan terhadap pertumbuhan laba, sementara TATO memiliki pengaruh negatif dan signifikan. Selain itu, ROA berfungsi sebagai moderator yang memperkuat pengaruh TATO terhadap pertumbuhan laba, namun tidak dapat memoderasi pengaruh CR terhadap pertumbuhan laba Temuan ini menekankan pentingnya efisiensi penggunaan aset dan pengelolaan profitabilitas dalam mencapai pertumbuhan laba yang berkelanjutan. Penelitian ini memberikan wawasan bagi manajer perusahaan dan investor dalam merumuskan strategi yang seimbang antara likuiditas dan efisiensi operasional untuk meningkatkan kinerja keuangan. Hasil ini juga membuka peluang untuk penelitian lebih lanjut mengenai faktor-faktor lain yang mempengaruhi pertumbuhan laba di sektor ini.
This study analyses the effect of liquidity and profitability on earnings growth in the Indonesian pharmaceutical industry sector, focusing on Current Ratio (CR), Total Asset Turnover (TAT), and Return on Assets (ROA). Using secondary data from companies listed on the Indonesia Stock Exchange during the 2019-2023 period, the results show that CR has no significant effect on earnings growth, while TATO has a negative and significant effect. In addition, ROA serves as a moderator that strengthens the effect of TATO on earnings growth but cannot moderate the effect of CR on earnings growth. These findings emphasise the importance of efficient use of assets and management of profitability in achieving sustainable earnings growth. This study provides insights for company managers and investors in formulating a balanced strategy between liquidity and operational efficiency to improve financial performance. The results also open up opportunities for further research on other factors that influence earnings growth in this sector.
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