Pengaruh Kepemilikan Institusional, Total Asset Turnover, dan Leverage terhadap Kinerja Keuangan Perusahaan

Abstract

This study aims to conduct an in-depth and comprehensive analysis of the effects of institutional ownership, Total Asset Turnover (TATO), and leverage on the financial performance of manufacturing entities in the basic and chemical industries listed on the Indonesia Stock Exchange (IDX) during the period 2020–2024. An associative quantitative approach was applied in this study using secondary data obtained from the entities’ officially published annual financial reports. Through the application of purposive sampling based on specific criteria, a sample of 52 eligible manufacturing companies was obtained, yielding a total of 230 valid observations for analysis after the elimination of outliers. The entire data processing and analysis process was conducted using classical assumption tests and multiple linear regression analysis with the aid of IBM SPSS software, version 29. The results of the partial statistical tests indicate that the institutional ownership variable was not found to significantly influence the entities’ financial performance. Conversely, the TATO variable demonstrated a positive and significant effect on the entities’ financial performance. Meanwhile, the leverage variable was found to have a significant negative effect on the entity’s financial performance. Simultaneously, the analysis results indicate that institutional ownership, TATO, and leverage collectively have a significant effect on the entity’s financial performance. The practical implications of these findings underscore the critical importance of operational efficiency in asset management and the need for management to carefully consider the company’s funding mix strategy.