The Effect of Profitability, Liquidity, Leverage, and Asset Efficiency on The Sustainable Growth Rate of Energy Sector Companies Listed on The Indonesian Stock Exchange 2021-2024

Jane Gianna Miduk Situmorang, . (2026) The Effect of Profitability, Liquidity, Leverage, and Asset Efficiency on The Sustainable Growth Rate of Energy Sector Companies Listed on The Indonesian Stock Exchange 2021-2024. Ekombis Review – Jurnal Ilmiah Ekonomi dan Bisnis, 14 (4). ISSN 2338-8412

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Abstract

This study aims to analyze the effect of profitability, liquidity, leverage, and asset efficiency on the Sustainable Growth Rate (SGR) of energy sector companies listed on the Indonesia Stock Exchange (IDX) for the period 2021–2024, with firm size as a control variable. This study uses secondary data from annual financial statements selected through purposive sampling, resulting in 116 firm-year observations. The analysis was conducted using multiple linear regression. The results of the partial test (t-test) show thaZt profitability has a significant positive effect on SGR (sig. 0.000), liquidity has a significant negative effect on SGR (sig. 0.001), asset efficiency has a significant positive effect on SGR (sig. 0.003), while leverage does not show a significant effect on SGR (sig. 0.765). Simultaneous testing shows that the regression model is significant in explaining SGR variation (F = 25.802; sig. 0.000). The Adjusted R² value of 0.519 indicates that 51.9% of SGR variation can be explained by the variables in the model, while the remaining 48.1% is influenced by factors outside the model. These findings confirm that internal financial performance, particularly profitability, asset efficiency, and liquidity management, plays an important role in determining the sustainable growth capacity of companies in the energy sector.

Item Type:	Article
Additional Information:	Jane Gianna Miduk Situmorang (Penulis - 142220067) ; Sri Astuti (Pembimbing)
Uncontrolled Keywords:	Sustainable Growth Rate (SGR); Profitability; Liquidity; Leverage; Asset Efficiency; Energy Sector; Indonesia Stock Exchange; Firm Size
Subjek:	H Social Sciences > HF Commerce > HF5601 Accounting
Divisions:	Fakultas Ekonomi dan Bisnis > (S1) Akuntansi
Depositing User:	Indah Lestari
Date Deposited:	06 Nov 2026 03:11
Last Modified:	06 Nov 2026 03:11
URI:	http://eprints.upnyk.ac.id/id/eprint/50169

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