Musytari : Jurnal Manajemen, Akuntansi, dan Ekonomi

Vol. 25 No. 8 (2026): Musytari: Neraca Manajemen, Akuntansi, dan Ekonomi, ISSN 3025-9495
Articles

PENGARUH INVESTASI R&D, STRUKTUR MODAL DAN STRUKTUR KEPEMILIKAN TERHADAP KINERJA PERUSAHAAN

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  • Navara Nisha Aulia,
  • Sofie Sofie
Navara Nisha Aulia
Universitas Trisakti
Sofie Sofie
Universitas Trisakti
DOI: https://doi.org/10.2238/th89cs23

Published 2026-07-01

Keywords

  • Research and Development (R&D) Investment,
  • Capital Structure,
  • Managerial Ownership,
  • Institutional Ownership,
  • Firm Performance,
  • Return on Assets (ROA),
  • Investasi Research and Development (R&D),
  • Struktur Modal,
  • Kepemilikan Manajerial,
  • Kepemilikan Institusional,
  • Kinerja Perusahaan
    • ...More
    Less

How to Cite

PENGARUH INVESTASI R&D, STRUKTUR MODAL DAN STRUKTUR KEPEMILIKAN TERHADAP KINERJA PERUSAHAAN. (2026). Musytari : Jurnal Manajemen, Akuntansi, Dan Ekonomi, 25(8). https://doi.org/10.2238/th89cs23

Abstract

This study aims to examine the effect of Research and Development (R&D) investment, capital structure, managerial ownership, and institutional ownership on firm performance proxied by Return on Assets (ROA). The study employs secondary data obtained from the annual reports of consumer cyclical and consumer non-cyclical companies listed on the Indonesia Stock Exchange during the 2022–2024 period. The sample was selected using the purposive sampling method, resulting in 109 observations, which were analyzed using multiple linear regression with the assistance of the Statistical Package for the Social Sciences (SPSS) program. The results indicate that Research and Development (R&D) investment and capital structure have a positive effect on firm performance, while managerial ownership and institutional ownership have no effect on firm performance. These findings suggest that investment in research and development activities, as well as optimal capital structure management, can support the improvement of firm performance. Penelitian ini bertujuan untuk menguji pengaruh investasi research and development (R&D), struktur modal, kepemilikan manajerial, dan kepemilikan institusional terhadap kinerja perusahaan yang diproksikan dengan Return on Assets (ROA). Penelitian menggunakan data sekunder yang diperoleh dari laporan keuangan dan laporan tahunan perusahaan sektor consumer cyclical dan consumer non-cyclical yang terdaftar di Bursa Efek Indonesia periode 2022–2024. Sampel penelitian ditentukan menggunakan metode purposive sampling dan menghasilkan 109 observasi yang dianalisis menggunakan regresi linear berganda dengan bantuan program Statistical Package for the Social Sciences (SPSS). Hasil penelitian menunjukkan bahwa investasi research and development (R&D) dan struktur modal berpengaruh positif terhadap kinerja perusahaan, sedangkan kepemilikan manajerial dan kepemilikan institusional tidak berpengaruh terhadap kinerja perusahaan. Hasil penelitian ini menunjukkan bahwa investasi pada kegiatan penelitian dan pengembangan serta pengelolaan struktur modal yang optimal dapat mendukung peningkatan kinerja perusahaan.
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