Pengaruh Ekuitas, Pertumbuhan Penjualan, dan Struktur Modal terhadap Pertumbuhan Laba (Studi Empiris pada Perusahaan Sektor Jasa Keuangan yang Terdaftar di Bursa Efek Indonesia Periode 2019–2023)

Abstract

This study aims to analyze the effect of equity, sales growth, and capital structure on profit growth in financial service sector companies listed on the Indonesia Stock Exchange (IDX) for the 2019–2023 period. The research population consisted of 93 companies, and through a purposive sampling technique, 25 companies were selected as the sample, producing 125 panel data observations. This study employs a quantitative method with panel data regression analysis using Eviews 12. The results of the model selection tests (Chow Test and Hausman Test) indicate that the Fixed Effect Model (FEM) is the most appropriate model. The findings reveal that equity and sales growth have a significant positive effect on profit growth, while capital structure has a significant negative effect on profit growth. Simultaneously, the three independent variables significantly affect profit growth, with an Adjusted R² value of 23.49%. The implication of this study is that company management needs to optimize the management of equity and sales growth, and exercise greater caution in the use of debt as a financing source in order to sustain the company's profit growth.