Analitika: Journal of Economics, Management, and Business

Pengaruh Perputaran Kas dan Perputaran Piutang Terhadap Net Profit Margin (NPM) pada PT Unilever Indonesia TBK Periode 2014-2023

Seveny Amellia Lingga, Lorina Siregar Sudjiman — Fri, 01 May 2026 00:00:00 +0000

Penelitian ini bertujuan mengevaluasi dampak perputaran kas dan perputaran piutang terhadap Net Profit Margin (NPM) pada PT Unilever Indonesia Tbk periode 2014–2023. Menggunakan metode kuantitatif dengan pendekatan asosiatif, studi ini mengolah data sekunder dari laporan keuangan tahunan yang bersumber dari situs resmi perusahaan. Analisis data dilakukan melalui uji regresi linier berganda dengan bantuan perangkat lunak SPSS versi 24. Temuan penelitian menunjukkan bahwa secara parsial, baik perputaran kas (Sig. 0,300 > 0,05) maupun perputaran piutang (Sig. 0,712 > 0,05) tidak memiliki pengaruh signifikan terhadap NPM. Secara simultan, kedua variabel tersebut juga tidak menunjukkan pengaruh berarti dengan nilai signifikansi 0,417 > 0,05. Adapun nilai koefisien determinasi sebesar 0,221 mengindikasikan bahwa kontribusi perputaran kas dan piutang terhadap variasi NPM hanya sebesar 22,1%, sementara 77,9% sisanya ditentukan oleh faktor-faktor lain di luar lingkup penelitian ini.

The Effect of Profitability and Company Size on Company Value in the Banking Sector Listed on the Indonesia Stock Exchange for the Period 2022–2024

Jacob William Marriott, Lorina Siregar Sudjiman — Fri, 01 May 2026 00:00:00 +0000

Abstract. This study aims to analyze the effect of profitability and company size on company value in the banking sector listed on the Indonesia Stock Exchange (IDX) for the period 2022–2024. The banking sector was chosen because of its crucial role as the backbone of the national economy and the high transparency of data through audited financial reports and Financial Services Authority (OJK) supervision. The research method used a quantitative approach with purposive sampling technique. The sample consisted of 15 banks in the KBMI 3–4 category that recorded positive profits throughout the research period and had complete financial statement data. Profitability was proxied by Return on Assets (ROA), company size was measured by the natural logarithm of total assets, and company value was proxied by Price to Book Value (PBV). This study employs multiple linear regression analysis with SPSS version 27. Results show that ROA has a significant positive effect on PBV (β = 87.327, p = 0.000), while company size has no significant effect on PBV (β = −0.009, p = 0.948). Simultaneously, both variables explain 63.7% of PBV variation (R² = 0.637, F = 25.372, p = 0.000). These findings confirm that profitability is the dominant factor shaping market perception of banking company value in the post-pandemic economic recovery era of 2022–2024.

The Effect of the Implementation of Green Accounting and Material Flow Cost Accounting on Company Profitability (in Manufacturing Sector Companies Listed on the Indonesia Stock Exchange)

Dimas Nugroho, Lorina Siregar Sudjiman — Fri, 01 May 2026 00:00:00 +0000

This study examines the influence of Green Accounting (GA) and Material Flow Cost Accounting (MFCA) implementation on the profitability of manufacturing companies listed on the Indonesia Stock Exchange (IDX) for the period 2020–2024. The manufacturing sector faces significant pressure to balance competitiveness with growing environmental responsibility demands. Using a quantitative causal-associative approach with panel data from 35 purposively selected companies, this study employs Fixed Effect Model (FEM) regression via EViews 13. Profitability is measured by Return on Asset (ROA), while GA is measured through environmental cost disclosure index and PROPER score, and MFCA through Material Efficiency Ratio and waste reduction percentage. Results show that GA has a significant positive effect on ROA (β = 3.87; p = 0.012) and MFCA also has a significant positive effect (β = 0.29; p = 0.028). Simultaneously, both variables significantly affect profitability (F-prob = 0.000) with R² = 0.462. The findings confirm that environmentally responsible accounting practices are not merely regulatory burdens but strategic investments that enhance financial performance in the manufacturing sector.

The Effect of Return on Assets (ROA), Debt to Equity Ratio (DER), Asset Growth and Firm Size on Firm Value (Study on Telecommunications Sub-Sector Companies Listed on the Indonesia Stock Exchange Period 2020–2022)

Jacob William Marriott, Lorina Siregar Sudjiman — Fri, 01 May 2026 00:00:00 +0000

This study investigates the effect of Return on Assets (ROA), Debt to Equity Ratio (DER), Asset Growth, and Firm Size on Firm Value (Price to Book Value/PBV) in 10 telecommunications sub-sector companies listed on the Indonesia Stock Exchange (IDX) for the 2020–2022 period. A quantitative causal associative approach was applied using secondary panel data from annual financial reports, yielding 30 observations via purposive sampling. Multiple linear regression with classical assumption tests (normality, multicollinearity, heteroscedasticity, and autocorrelation) was employed using IBM SPSS Statistics version 26. Simultaneous testing confirms that all four variables significantly affect PBV (F = 18.764; sig. = 0.000; R² = 0.672). Partially, ROA (β = 0.387; sig. = 0.000), Asset Growth (β = 0.215; sig. = 0.027), and Firm Size (β = 0.078; sig. = 0.003) each exert a positive and significant effect on PBV, while DER (β = −0.124; sig. = 0.129) has no significant effect. Grounded in Signalling Theory, these findings demonstrate that profitability, expansion capacity, and firm scale transmit stronger value signals to investors than leverage in the post-pandemic digital transformation era.

The Effect of Capital Structure and Liquidity on Profitability in Food and Beverage Sub-Sector Manufacturing Companies Listed on the Indonesia Stock Exchange

Seveny Amellia Lingga, Lorina Siregar Sudjiman — Fri, 01 May 2026 00:00:00 +0000

This study aims to examine the effect of capital structure and liquidity on the profitability of food and beverage sub-sector manufacturing companies listed on the Indonesia Stock Exchange from 2020 to 2023. A quantitative approach was employed, using secondary data from the financial reports of 10 purposively selected companies. Data were analyzed through descriptive analysis, data testing, classical assumption tests, and hypothesis testing. Debt to Equity Ratio (DER) was used to measure capital structure, Current Ratio (CR) was employed to measure liquidity, and Return on Assets (ROA) served as the profitability indicator. The results reveal that DER has a negative yet insignificant effect on ROA. Similarly, CR shows a positive but insignificant influence on ROA. Simultaneously, neither capital structure nor liquidity was found to have a significant effect on profitability.