THE EFFECT OF CAPITAL STRUCTURE AND LIQUIDITY THROUGH COMPANY GROWTH ON FINANCIAL PERFORMANCE IN MANUFACTURING COMPANIES LISTED ON THE INDONESIA STOCK EXCHANGE IN 2019-2023

Abstract

This study aims to determine financial performance through company growth as an intervening variable: Capital Structure and Liquidity. The population used in this study is a manufacturing company in the Food and Beverage subsector listed on the Indonesia Stock Exchange (IDX) from 2019-2023. The method of determining the sample in this study uses the purposive sampling method, so that from 95 populations, a sample of 26 companies is obtained. This research is a type of quantitative research. The analysis method used is multiple regression analysis. The results of the study indicate that Capital Structure partially does not have a significant effect on company growth, Liquidity partially does not have a significant effect on company growth, Capital Structure partially has a significant effect on financial performance, Liquidity partially has a significant effect on financial performance, Company growth partially has a significant effect on financial performance, Capital Structure through Company growth has a significant effect on Financial Performance, and Liquidity through Company growth does not have a significant effect on Financial Performance in manufacturing companies listed on the Indonesia Stock Exchange (IDX) for the period 2019-2023. Thus, this study is important to understand the implications of the interaction between Capital Structure, Liquidity, Company Growth and Financial Performance. In addition, this analysis provides insight for investors in evaluating the growth potential and stability of the company, which are key factors in making investment decisions.