Analysis of the Effect Degree of Operating Leverage (DOL) and Degree of Financial Leverage (DFL) On Earning Per Share (EPS) in Pt. Agung Podomoro Land Tbk
DOI:
https://doi.org/10.61079/jkemi.v1i2.17Keywords:
Operating Leverage, Financial Leverage, Earning Per ShareAbstract
The purpose of this study was to determine the effect of the variable Degree of Operating Leverage and Degree of Financial Leverage partially or simultaneously on Earning Per Share. The data used in the study are secondary data, the object used in this study is PT Agung Podomoro Land Tbk for the period (2010-2019) which is listed on the Indonesia Stock Exchange. The data analysis technique used is multiple linear regression analysis. Based on the results of data analysis, partially Degree of Operating Leverage has a negative and insignificant effect on Earning Per Share, and Degree of Financial Leverage has a positive and insignificant effect on Earning Per Share. The simultaneous test results show that the regression model can be used to predict Earning Per Share as evidenced by the significant value of the F test of 0.787> 0.05. The R-Square value of 0.066 indicates that the ability of the independent variables to explain the variation in the dependent variable is 6% and the remaining 94% is explained by other variables outside the research model.
References
Abdulkareem, A. M., & Meghanathi, P. D. (2020). The Impact of Leverage on Earnings Per Share: A Study of Selected Petroleum Companies in India. Journal La Bisecoman, 1(2), 25-36. https://doi.org/10.37899/journallabisecoman.v1i2.112
Arsal, M. (2021). Impact of earnings per share and dividend per share on firm value. ATESTASI: Jurnal Ilmiah Akuntansi, 4(1), 11-18. https://doi.org/10.57178/atestasi.v4i1.158
Asraf, A., & Desda, M M. (2020, March 31). Analysis of the Effect of Operating Leverage and Financial Leverage on Companies Profitability Listed on Indonesia Stock Exchange. Ilomata International Journal of Management, 1(2), 45-50. https://doi.org/10.52728/ijjm.v1i2.65
Bratamanggala, R. (2018). Factors affecting earning per share: The case of Indonesia. International Journal of Economics and Business Administration. https://doi.org/10.35808/ijeba/160
Cadman, B. D., & Ferracuti, E. (2018). Cost Structure and the Usefulness of Earnings. Available at SSRN 3190649. https://doi.org/10.2139/ssrn.3190649
Cai, M., & Luo, J. (2020). Influence of COVID-19 on manufacturing industry and corresponding countermeasures from supply chain perspective. Journal of Shanghai Jiaotong University (Science), 25, 409-416. https://doi.org/10.1007/s12204-020-2206-z
Damayanti, Y., & Suryandani, W. (2023). PENGARUH LEVERAGE, LIKUIDITAS DAN UKURAN PERUSAHAAN TERHADAP PROFITABILITAS PADA PERUSAHAAN MAKANAN DAN MINUMAN YANG TERDAFTAR DI BURSA EFEK INDONESIA. Bisnis-Net, 6(1), 1-8. https://doi.org/10.46576/bn.v6i1.3048
Dugan, M. T. (2020). The estimation of leverage coefficients in corporate finance research: a review of the literature. Journal of Financial Economic Policy, 13(2), 200-205.
Faisal, S M., Khan, A K., & Al-Aboud, O A. (2017, December 4). Study of Managerial Decision Making Linked to Operating and Financial Leverage. Accounting and finance research, 7(1), 139-139. https://doi.org/10.5430/afr.v7n1p139
Faturinaldi, M., Suryadi, E., & Safitri, H. (2018). Pengaruh Operating Leverage, Financial Leverage, dan Combination Leverage Terhadap Earning Per Share Pada Perusahaan Jasa Sub Sektor Properti dan Real Estate Yang Terdaftar di Bursa Efek Indonesia. Jurnal Produktivitas: Jurnal Fakultas Ekonomi Universitas Muhammadiyah Pontianak, 5(1).
Fuad, M., Sara, O., & Daud, M N. (2019, May 31). Pengaruh Perputaran Modal Kerja, Operating Leverage dan Financial Leverage terhadap Profitabilitas Perusahaan Sektor Retail di Bursa Efek Indonesia. Medan Area University, 5(2), 131-131. https://doi.org/10.31289/jkbm.v5i2.2206
Hasanah, A. N. (2018). Pengaruh Degree of Operating Leverage dan Degree of Financial Leverage terhadap Return On Equity. Management and Accounting Expose, 1(2), 22-31. http://jurnal.usahid.ac.id/index.php/accounting/article/viewFile/86/80
Hidayati, N. (2022). INDUSTRIALIZATION ANALYSIS IN SURODADI VILLAGE COMMUNITY. International Journal of Economics, Business and Accounting Research (IJEBAR), 6(1), 282-291. https://doi.org/10.29040/ijebar.v6i1.4740
Karan, A., Singh, M., & Rana, N. P. (2023). Does entrepreneurial motivation influence entrepreneurial intention? Exploring the moderating role of perceived supportive institutional environment on Indian university students. International Entrepreneurship and Management Journal, 20(1), 215-229. https://doi.org/10.1007/s11365-023-00899-6
Khotimah, N., & Nurhayati, N. (2020). Pengaruh Leverage Operasi dan Leverage Keuangan Terhadap Laba Per Lembar Saham (Studi Kasus Pada Pt. Garuda Indonesia, Tbk). Ekonomi, Keuangan, Investasi dan Syariah (EKUITAS), 2(1), 106-112. https://doi.org/10.47065/ekuitas.v2i1.320
Kumar, R., Bhatia, P., & Chattopadhyay, S. (2022). The impact of leverages and operating efficiency on market value added: Empirical evidence from India. Vision, 26(3), 351-360. https://doi.org/10.1177/0972262921992152
Megawati, L. R. (2020, May). The analysis of effects of operating leverage, financial leverage, and liquidity on profitability in the telecommunications industry listed in indonesia stock exchange. In First ASEAN Business, Environment, and Technology Symposium (ABEATS 2019) (pp. 110-115). Atlantis Press. https://doi.org/10.2991/aebmr.k.200514.025
Mitchell, G. R. (2017). Climate change and manufacturing. Procedia Manufacturing, 12, 298-306. https://doi.org/10.1016/j.promfg.2017.08.033
Paganini, M A. (2021, May 15). The DOL-DFL Nexus: The Relationship between the Degree of Operating Leverage (DOL) and the Degree of Financial Leverage (DFL). International journal of economics and finance, 13(6), 71-71. https://doi.org/10.5539/ijef.v13n6p71
Pratiwi, T., Danisworo, D. S., & Syarief, M. E. (2022). Dampak Peningkatan Operating Leverage dan Financial Leverage terhadap Profitabilitas pada Perusahaan Industri Barang Konsumsi. Indonesian Journal of Economics and Management, 2(3), 477-485. https://doi.org/10.35313/ijem.v2i3.3251
Mohammad, S., Rahman, K., Chowdhury, F., & Md, K. (2018). An investigation into the relationship between degree of financial leverage and financial risk of firms: a comparative study between listed MNCs and Domestic companies of Bangladesh. Asian Economic and Financial Review, 8(3), 433-448.
Sapiri, M. (2023). Understanding Financial Leverage: The Effect of Operating Leverage and Financial Leverage on EPS in Property and Real Estate Companies on the Indonesia Stock Exchange. Atestasi: Jurnal Ilmiah Akuntansi, 6(1), 53-66. https://doi.org/10.57178/atestasi.v6i1.598
Sari, D I., & Maryoso, S. (2021, January 1). The Effect of DER, PER and EPS on the Share Price of Food and Beverage Companies on the Indonesia Stock Exchange. https://www.atlan Sari, D. I., & Maryoso, S. (2021, June). The Effect of DER, PER and EPS on the Share Price of Food and Beverage Companies on the Indonesia Stock Exchange. In Sixth Padang International Conference On Economics Education, Economics, Business and Management, Accounting and Entrepreneurship (PICEEBA 2020) (pp. 56-65). Atlantis Press. tis-press.com/article/125957816.pdf
Shafi, M., Liu, J., & Ren, W. (2020). Impact of COVID-19 pandemic on micro, small, and medium-sized Enterprises operating in Pakistan. Research in Globalization, 2, 100018. https://doi.org/10.1016/j.resglo.2020.100018
Stelk, S., Park, S. H., & Dugan, M. T. (2015). An additional analysis on operating leverage estimation methods. Journal of Financial Economic Policy, 7(2), 180-188. https://doi.org/10.1108/jfep-10-2014-0056
Wang, W., & Liu, Y. (2022). Optimization of Industrial Cluster Management in Urban Development Zones Driven by Big Data. Mobile Information Systems, 2022. https://doi.org/10.1155/2022/9883144
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2023 Jurnal Kajian Ekonomi dan Manajemen Indonesia (JKEMI)
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
