Evaluating Asset Efficiency and Liquidity in Driving Return on Investment:  A Case Study of  PT Hanjaya Mandala Sampoerna Tbk

Intan Sari Budhiarjo; Iriana Kusuma Dewi; Waluyo Jati; Friska Disty Anindia

doi:10.70716/emis.v4i3.835

Authors

Intan Sari Budhiarjo Faculty of Economy and Business, Pamulang University, Indonesia Author
Iriana Kusuma Dewi Faculty of Economy and Business, Pamulang University, Indonesia Author
Waluyo Jati Faculty of Economy and Business, Pamulang University, Indonesia Author
Friska Disty Anindia Faculty of Economy and Business, Pamulang University, Indonesia Author

DOI:

https://doi.org/10.70716/emis.v4i3.835

Keywords:

evaluating asset efficiency, liquidity, total assets turnover, current ratio, return on investment.

Abstract

Financial performance plays a crucial role in supporting company sustainability and profitability within the tobacco manufacturing industry. Therefore, understanding the factors influencing profitability is crucial, particularly Total Assets Turnover and Current Ratio. This study aims to analyze the influence of Total Assets Turnover and Current Ratio on Return on Investment at PT Hanjaya Mandala Sampoerna Tbk. The study employed a descriptive quantitative approach using secondary data gathered from the company's annual financial reports. The study sample comprised 10 years of observation. Data were analyzed using multiple linear regression conducted through the EViews 14 software. The results showed that Total Assets Turnover had a significant effect on Return on Investment, while Current Ratio also had a significant effect on Return on Investment. Furthermore, Total Assets Turnover and Current Ratio simultaneously had a significant effect on Return on Investment. The R-squared value of 0.838453 indicates that 83.84% of the variation in Return on Investment can be explained by these two independent variables. These findings suggest that enhancing company profitability can be achieved through optimizing asset efficiency and managing liquidity effectively.

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