Pengaruh Likuiditas dan Profitabilitas Terhadap Kebijakan Hutang pada Perusahaan Makanan dan Minuman Terdaftar di Bursa Efek Indonesia Tahun 2018-2021

Abstract

In the midst of global business and business competition with increasingly fierce competition it motivates to always maintain the existence of every company. In addition, the company must also consider its capabilities. By knowing the capabilities, especially in the financial sector, companies can determine plans to compete with other companies. If the ability in the finance department is good enough, then this can be used to assess how optimal a company's performance is. Revenue maximization is the main focus for most businesses. However, to achieve this goal, the company must have sufficient funds so that its operational activities can run well. This motivates the managers of the organization to be more proactive and creative in finding the most profitable sources of income for the fund. This research is intended to assess the effect of liquidity ratios with the CR variable, profitability with the ROA variable on debt policies in food and beverage companies listed on the Indonesia Stock Exchange for the period 2018 - 2021. In this study, compensation is there a relationship between debt policy and liquidity and profitability . This study used a technique known as purposive sampling, which involved selecting sample subjects based on predetermined criteria. The number of samples selected was 76 food and beverage companies for a four year period covering 19 different companies. The research method used is causal associative research. From the results of this study it was found that the liquidity ratio has a negative effect on debt policy, while the profitability ratio has no effect on debt policy. Based on the coefficient of determination (R2), the liquidity ratio and profitability ratio only have a 37.7% influence on debt policy. The remaining 62.3% of debt policy is influenced by other variables that have not been examined in this study. The ratio tested in this study is only the liquidity ratio as measured by the current ratio and the profitability ratio as measured by return on assets. This is a limitation of this research. For this reason, it is hoped that future researchers can develop other variables that have the potential to influence debt policy.