Analisis Faktor Internal Dan Faktor Eksternal Terhadap Profitabilitas Perusahaan Sektor Pariwisata
Abstrak
Penelitian ini bertujuan untuk menganalisis pengaruh faktor internal (Debt to Asset Ratio, Earnings Per Share, Current Ratio, Diversitas Gender) dan faktor eksternal (Inflasi, Pertumbuhan Ekonomi) terhadap Profitabilitas (Return On Equity) perusahaan sektor Tourism and Recreation yang terdaftar di Bursa Efek Indonesia periode 2020-2024. Metode penelitian menggunakan pendekatan kuantitatif dengan regresi data panel menggunakan Eviews 13. Sampel dipilih menggunakan teknik purposive sampling didapatkan 29 perusahaan dengan total hasil 145 data observasi. Hasil penelitian menunjukkan bahwa secara simultan seluruh variabel independen berpengaruh signifikan terhadap profitabilitas dengan nilai Adjusted R-squared sebesar 81,47%. Secara parsial, Debt to Asset Ratio berpengaruh signifikan negatif, sedangkan Earnings Per Share berpengaruh signifikan positif. Temuan empiris yang utama penelitian ini adalah Inflasi pada masa pemulihan berpengaruh positif signifikan terhadap profitabilitas, yang Menggambarkan fenomena Demand-Pull Inflation akibat Permintaan yang meningkat setelah kegiatan ekonomi terputus pada masa Covid-19. Sebaliknya, Diversitas Gender tidak berpengaruh signifikan karena belum mencapai massa kritis (tokenism), dan Pertumbuhan Ekonomi tidak berpengaruh karena adanya sectoral time-lag. Kata Kunci: Demand-Pull Inflation, Profitabilitas, Pariwisata, Regresi Data Panel, Struktur Modal, Diversitas Gender.
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