Analisis Hubungan Struktur Modal dengan Kinerja Keuangan Perusahaan Manufaktur Subsektor Makanan dan Minuman yang Terdaftar di BEI Tahun 2018-2021

Abstract

This study aims to determine how the relationship between capital structure and financial performance in food and beverage subsector manufacturing companies listed on the IDX in 2018-2021.The variables used to measure capital structure are debt to asset ratio (DAR) and debt to equity ratio (DER). While the variable used to measure financial performance is return on assets (ROA). The population of this study is food and beverage subsector manufacturing companies listed on the IDX in 2021 with a total of 72 companies. The method used in sampling is the purposive sampling method with a total of 33 companies. The main data used in this study is in the form of company financial statements consisting of financial position statements and income statements, while supporting data comes from the company's official website in the form of company profiles. This study used descriptive statistical analysis methods and hypothesis testing with Spearman rank correlation analysis. The results of this study show that the DAR variable has a significant negative relationship with ROA and is classified as a strong correlation relationship. This means that if the company's DAR value increases, the ROA value will decrease, and vice versa if the DAR value decreases, the ROA value will increase. While the DER variable has a significant negative relationship with ROA and is classified as a strong correlation relationship. This means that if the DER value increases, the ROA value will decrease, and vice versa, if the DER value decreases, the ROA value will increase.