Pengaruh Leverage, Cash Holding, Dan Modal Kerja Terhadap Pertumbuhan Berkelanjutan Pada Perusahaan Manufaktur Non-Cyclical Di Bursa Efek Indonesia  Periode 2015–2025

Ari Rhamdani; Adler Haymans Manurung; Jhonni Sinaga; Muhammad Asif Khan; Tyna Yunita

Authors

Ari Rhamdani Universitas Bhayangkara Jakarta Raya
Adler Haymans Manurung Universitas Bhayangkara Jakarta Raya
Jhonni Sinaga Universitas Bhayangkara Jakarta Raya
Muhammad Asif Khan Universitas Bhayangkara Jakarta Raya
Tyna Yunita Universitas Bhayangkara Jakarta Raya

Keywords:

Sustainable Growth Rate (SGR), Leverage, Cash Holding, Modal Kerja

Abstract

Sustainable Growth Rate (SGR) merupakan metrik krusial untuk mengevaluasi kapasitas perusahaan dalam menjaga laju pertumbuhannya secara mandiri melalui pendanaan internal. Pada industri manufaktur sektor non-cyclical, keberlanjutan pertumbuhan ini sangat ditentukan oleh berbagai determinan keuangan, di antaranya leverage, cash holding, dan modal kerja. Oleh karena itu, penelitian ini dilaksanakan guna menginvestigasi dampak ketiga variabel tersebut terhadap SGR. Populasi studi mencakup perusahaan manufaktur non-cyclical yang tercatat di Bursa Efek Indonesia (BEI) selama kurun waktu 2015–2025. Dengan menerapkan metode kuantitatif berbasis analisis regresi data panel terhadap data sekunder dari laporan keuangan tahunan, riset ini diharapkan mampu menyajikan bukti empiris yang solid. Selain berkontribusi pada pengembangan literatur manajemen keuangan, temuan penelitian ini juga ditujukan sebagai landasan strategis bagi manajemen, investor, maupun regulator dalam merumuskan kebijakan keuangan yang optimal.

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