Pengaruh Profitabilitas, Struktur Aset, dan Likuiditas terhadap Kebijakan Hutang pada Perusahaan yang terdaftar di BEI tahun 2022 - 2025

Abstrak

This study aims to analyze the effect of Profitability (Return on Assets/ROA), Asset Structure (Fixed Asset Ratio/FAR), and Liquidity (Current Ratio/CR) on Debt Policy (Debt to Equity Ratio/DER) in companies listed on the Indonesia Stock Exchange (IDX) during the 2022–2025 period. This study uses quantitative methods. The study population includes all companies listed on the Indonesia Stock Exchange during the 2022–2025 period. The sampling technique used purposive sampling with a sample size of 29 companies or 116 observation data. The data analysis method uses multiple linear regression analysis with the help of the SPSS version 26 program through descriptive statistical tests, classical assumption tests, multiple linear regression tests, t-tests, F-tests, and coefficient of determination tests. The results show that profitability has no significant effect on debt policy, while asset structure has a negative and significant effect on debt policy, and liquidity has a negative and significant effect on debt policy. Simultaneously, profitability, asset structure, and liquidity significantly influence debt policy, with a coefficient of determination (R²) of 52.2%, while the remaining 47.8% is influenced by other variables outside the study. This finding indicates that companies consider asset and liquidity conditions more than profitability when determining their debt policy.