Rasio Finansial terhadap Efisiensi Perusahaan Manufaktur di Bursa Efek Indonesia 2017-2021

Abstract

In Indonesia, nowadays, there are lots of companies that are rapidly growing and engaged in various fields. It caused increasingly fierce competition between companies. Company effectiveness is needed so that companies can maximize existing resources and be able to compete with competitors. A company needs to be efficient. Otherwise, the company will face threats from foreign and local competitors seriously. It will affect the company's income level into bankruptcy. Financial ratios are the factor that is entirely calculated in the company's efficiency. The financial ratios commonly used are tangibility, leverage, liquiditty, productivity, and profitability. This study aims to determine the effect of Tangibility, Leverage, Liquiditty, Productivity, and Profitability on Firm efficiency in manufacturing companies listed on the Indonesia Stock Exchange from 2017-2021. The data used in this study is panel data. The data was obtained from the Indonesia Stock Exchange website. The analysis includes the determination of the panel data regression model, the F test, the Goodness of Fit test (Adjusted R2), the Multiple Linear Regression Test, and the Hypothesis Test. The results showed that tangibility, leverage, and liquiditty did not affect firm efficiency. Meanwhile, productivity and profitability have a positive and significant relationship to a firm's efficiency. The results of this study can be used for companies as a reference to improve the level of efficiency, and also for investors can be used as a reference in choosing companies to invest in.