Peran Investment Decision dan Capital Structure terhadap Financial Performance pada Perusahaan Sektor Energi
DOI:
https://doi.org/10.58812/jbmws.v5i03.3853Kata Kunci:
Capital Structure, Sektor Energi, Financial Performance, Indonesia, Investment DecisionsAbstrak
Penelitian ini mengkaji peran keputusan investasi dan struktur modal dalam memengaruhi kinerja keuangan perusahaan-perusahaan sektor energi di Indonesia. Pendekatan eksplanatori kuantitatif digunakan dengan memanfaatkan data primer yang dikumpulkan melalui kuesioner terstruktur yang diukur menggunakan skala Likert lima poin. Sebanyak 55 tanggapan yang valid dianalisis menggunakan IBM SPSS Statistics versi 25. Analisis tersebut mencakup uji validitas dan reliabilitas, statistik deskriptif, uji asumsi klasik, regresi linier berganda, uji t parsial, uji F simultan, serta koefisien determinasi. Hasil penelitian menunjukkan bahwa keputusan investasi memiliki pengaruh positif dan signifikan terhadap kinerja keuangan. Struktur modal juga menunjukkan pengaruh positif dan signifikan terhadap kinerja keuangan. Secara bersamaan, keputusan investasi dan struktur modal secara signifikan memengaruhi kinerja keuangan. Model ini menjelaskan 65,1% variasi dalam kinerja keuangan. Temuan ini menunjukkan bahwa alokasi modal yang efektif dan struktur pembiayaan yang tepat merupakan mekanisme manajemen keuangan yang saling melengkapi untuk memperkuat kinerja keuangan perusahaan-perusahaan sektor energi di Indonesia.
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