Firm Size and Leverage on Company Performance : The Role of IT Investment as a Moderation Variable
DOI:
https://doi.org/10.55606/ijemr.v4i2.332Keywords:
Leverage, Company-PerformanceAbstract
This study aims to analyze the effect of firm size and leverage on company performance with Information Technology Investment (ITI) as a moderating variable in non-primary consumer goods sector companies (consumer cylicals) listed on the Indonesia Stock Exchange in 2021-2023. The population in this study were all non-primary consumer goods sector companies (consumer cylicals) listed on the Indonesia Stock Exchange. The sample in this study was 85 companies with 220 observation data obtained using purposive sampling techniques. This study uses multiple linear regression analysis methods and Moderated Regression Analysis (MRA) using IBM SPSS 30 software. The results of this study conclude that firm size has a significant positive effect on company performance, leverage has a significant negative effect on company performance, Information Technology Investment (ITI) significantly strengthens the effect of firm size on company performance, Information Technology Investment (ITI) does not moderate the relationship between leverage and company.
References
Budiadnyani, N. P., Dewi, P. P. R. A., & Arlita, I. G. A. D. (2023). Leverage dan kinerja perusahaan dengan ukuran perusahaan sebagai variabel moderasi. Owner: Riset dan Jurnal Manajemen, 7(4), 2874–2883. https://doi.org/10.33395/owner.v7i4.1684
Ghozali, I. (2018). Aplikasi analisis multivariate dengan program IBM SPSS 25. Semarang: Badan Penerbit Universitas Diponegoro.
Handoyo, S., Suharman, H., Ghani, E. K., & Soedarsono, S. (2023). A business strategy, operational efficiency, ownership structure, and manufacturing performance: The moderating role of market uncertainty and competition intensity and its implication on open innovation. Journal of Open Innovation: Technology, Market, and Complexity, 9(2), 100039. https://doi.org/10.1016/j.joitmc.2023.100039
Hermin, H., Machmud, M., & Hasan, H. (2023). Pemanfaatan teknologi informasi dalam pengembangan bisnis PT Pos Indonesia. Konstelasi: Konvergensi Teknologi dan Sistem Informasi, 3(1), 208–216. https://doi.org/10.24002/konstelasi.v3i1.7027
Jensen, M. C., & Meckling, W. H. (2019). Theory of the firm: Managerial behavior, agency costs and ownership structure. In Corporate governance (pp. 77–132). Gower.
Kent, R. (2020). Data construction and data analysis for survey research. Bloomsbury Publishing.
Kohli, R., Devaraj, S., & Ow, T. T. (2012). Does information technology investment influence a firm’s market value? A case of non-publicly traded healthcare firms. MIS Quarterly: Management Information Systems, 36(4), 1145–1164. https://doi.org/10.2307/41703502
Makkulau, L., Susanti, L., & Muhammad, M. (2010). Pendeteksian outlier dan penentuan faktor-faktor yang mempengaruhi produksi gula dan tetes tebu dengan metode likelihood displacement statistic lagrange. Jurnal Teknologi Informasi, 12(2), 25–100.
Mangeka, D. P., & Rahayu, Y. (2020). Pengaruh fraud triangle dalam mendeteksi financial statement fraud. Jurnal Ilmu dan Riset Akuntansi (JIRA), 9(2).
Menicucci, E., & Paolucci, G. (2016). The determinants of bank profitability: Empirical evidence from European banking sector. Journal of Financial Reporting and Accounting, 14(1), 86–115.
Mohajan, H. (2020). Quantitative research: A successful investigation in natural and social sciences. Munich Personal RePEc Archive, 9(4).
Myers, S. C., & Majluf, N. S. (1984). Corporate financing and investment decisions when firms have information that investors do not have. Journal of Financial Economics, 13(2), 187–221.
Nurfitri Imro’ah, A. A. N. N. D. (2020). Metode Cochrane-Orcutt untuk mengatasi autokorelasi pada estimasi parameter ordinary least squares. Bimaster: Buletin Ilmiah Matematika, Statistika dan Terapannya, 9(1), 95–102. https://doi.org/10.26418/bbimst.v9i1.38590
Park, G., & Kim, K. S. (2023). Impacts of startup founders’ personal and business networks on fundraising success by mediating fundraising opportunities: Moderating role of firm age. Journal of Open Innovation: Technology, Market, and Complexity, 9(2), 100063. https://doi.org/10.1016/j.joitmc.2023.100063
Partiwi, R., & Herawati, H. (2022). Pengaruh kepemilikan institusional, leverage dan ukuran perusahaan terhadap kinerja perusahaan. Jurnal Kajian Akuntansi dan Auditing, 17(1), 29–38. https://doi.org/10.37301/jkaa.v17i1.76
Ramadhani, A. F. (2020). Pengaruh struktur kepemilikan terhadap audit report lag pada perusahaan perbankan (Skripsi). STIE Perbanas Surabaya.
Sri, D., & Chen, M. (2019). Pengaruh strategi diversifikasi terhadap kinerja perusahaan pada perusahaan food and beverages. Jurnal Akuntansi Kompetitif, 2(3), 121–131. https://doi.org/10.35446/akuntansikompetif.v2i3.397
Sukadana, N., Alit, I. K., & Triaryati. (2018). Pengaruh pertumbuhan penjualan, ukuran perusahaan, dan leverage terhadap profitabilitas pada perusahaan food and beverage BEI. Jurnal Ilmu Manajemen, 7(11), 6239–6268.
Sunarto, & Budi, A. P. (2009). Pengaruh leverage, ukuran dan pertumbuhan perusahaan terhadap profitabilitas. Jurnal Ilmiah Telaah Manajemen, 6(1), 86–103.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2025 International Journal of Economics and Management Research

This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.