Pengaruh Struktur Modal, Profitabilitas, dan Likuiditas terhadap Risiko Keuangan pada Perusahaan Makanan dan Minuman di BEI
DOI:
https://doi.org/10.69533/jurilma.volume3number2.653Keywords:
Struktur Modal, Profitabilitas, Likuiditas, Risiko KeuanganAbstract
Penelitian ini bertujuan untuk menganalisis pengaruh struktur modal, profitabilitas, dan likuiditas terhadap risiko keuangan pada perusahaan subsektor makanan dan minuman yang terdaftar di Bursa Efek Indonesia (BEI). Penelitian ini menggunakan pendekatan kuantitatif dengan data panel periode 2020–2024. Sampel terdiri dari 56 perusahaan yang dipilih menggunakan teknik purposive sampling, dengan total 280 observasi. Risiko keuangan diukur menggunakan Interest Coverage Ratio (ICR), sedangkan analisis data dilakukan melalui regresi data panel dengan Fixed Effects Model dan cluster-robust standard errors untuk mengatasi heteroskedastisitas. Hasil penelitian menunjukkan bahwa profitabilitas berpengaruh positif dan signifikan terhadap ICR, yang mengindikasikan bahwa peningkatan profitabilitas berkaitan dengan meningkatnya kemampuan perusahaan dalam memenuhi kewajiban pembayaran bunga. Sementara itu, struktur modal dan likuiditas tidak berpengaruh signifikan terhadap ICR. Temuan ini menunjukkan bahwa profitabilitas berperan penting dalam mendukung kemampuan perusahaan memenuhi kewajiban bunga, sedangkan struktur modal dan likuiditas belum menunjukkan pengaruh yang signifikan secara statistik selama periode penelitian.
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