Analisis Pengaruh Faktor Makro dan Faktor Murni terhadap Kinerja Keuangan melalui Kebijakan Perusahaan dan Kualitas Laporan Keuangan pada Perusahaan Sektor Logam yang Terdaftar di Bursa Efek Indonesia
Keywords:
Macro Factors, Firm-Specific Factors, Financial Performance, Corporate Policy, Financial Reporting Quality.Abstract
This study aims to analyze the influence of macro factors and pure factors on the financial performance of companies in the metal sector listed on the Indonesia Stock Exchange during the 2020–2024 period, both directly and through mediating variables in the form of corporate policies and financial reporting quality. Macro factors are proxied by COGS ratio, inventory ratio, and trade payable ratio, while pure factors are measured through firm size, debt ratio, and working capital ratio. Corporate policies are proxied by DER, cash ratio, and fixed asset ratio, and financial reporting quality is measured through total accruals, audit quality, and current ratio. Financial performance is measured using ROA, GPM, and OPM.
Keywords: Macro Factors, Firm-Specific Factors, Financial Performance, Corporate Policy, Financial Reporting Quality.
Abstrak
Penelitian ini bertujuan untuk menganalisis pengaruh faktor makro dan faktor murni terhadap kinerja keuangan perusahaan sektor logam yang terdaftar di Bursa Efek Indonesia periode 2020–2024, baik secara langsung maupun melalui variabel mediasi berupa kebijakan perusahaan dan kualitas laporan keuangan. Variabel faktor makro diproksikan dengan rasio COGS, inventory ratio, dan trade payable ratio, sedangkan faktor murni diukur melalui firm size, debt ratio, dan working capital ratio. Kebijakan perusahaan diproksikan dengan DER, cash ratio, dan fixed asset ratio, serta kualitas laporan keuangan diukur melalui total accruals, audit quality, dan current ratio. Kinerja keuangan diukur menggunakan ROA, GPM, dan OPM.
Kata kunci: Faktor Makro, Faktor Murni, Kinerja Keuangan, Kebijakan Perusahaan, Kualitas Laporan Keuangan
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