PENGARUH LEVERAGE KEUANGAN, LEVERAGE OPERASIONAL, DAN INFLASI TERHADAP PROFITABILITAS

Wiwin Nurwiati, Dadang Suhardi, Fauziyah Adzimatinur

Abstract


The study aimed to assess the impact of Financial Leverage represented by Debt to Equity Ratio (DER), Operating Leverage indicated by Degree of Operating Leverage (DOL), and Inflation on Profitability measured through Return On Equity (ROE). It utilized descriptive and verification methods employing panel data regression through Eviews version 9. The research focused on telecommunication sub-sector companies listed on the Indonesia Stock Exchange from 2017 to 2021. Purposive sampling was used, resulting in 15 eligible sample companies from 19 that went public. Secondary data were collected via documentation from official websites such as IDX, Central Statistics Agency, and Bank Indonesia. The findings revealed that: 1) Financial leverage exhibited a positive and significant impact on profitability, 2) Operating leverage also had a positive and significant influence on profitability, 3) Inflation displayed a positive effect but was not statistically significant concerning profitability, and 4) Simultaneously, financial leverage, operating leverage, and inflation significantly affected profitability.

 

Keywords: Financial Leverage, Operating Leverage, Inflation, and Profitabilitas

 


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