The Effect of Leverage, Activity, And Liquidity on Corporate Profitability: A Study of Energy Sector Companies Listed on The Indonesia Stock Exchange
DOI:
https://doi.org/10.59890/ijsas.v4i10.81Keywords:
Financial Ratios, Leverage Ratios, Activity Ratios, Liquidity Ratios, ProfitabilityAbstract
This study aims to analyze the impact of leverage, activity, and liquidity on profitability proxied by Return on Assets (ROA) in energy sector companies listed on the Indonesia Stock Exchange during the 2021–2024 period. A quantitative approach was employed using secondary data from the financial statements of 70 companies selected via purposive sampling. Analysis was conducted using panel data regression with EViews 14, utilizing the Random Effect Model (REM) and robust regression. The results indicate that leverage has no significant effect on ROA, whereas activity and liquidity have a positive and significant effect on ROA.
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