The Influence of Firm Size, Capital Structure, Total Assets Turnover Ratio and Liquidity on Financial Performance with Good Corporate Governance as a Moderation Variable in Food and Beverage Sub-Sector Manufacturing Companies Listed on the IDX 2016-2022

Abstract

This research aims to determine the influence of company size, capital structure, total asset turnover ratio, and liquidity on financial performance with good corporate governance as a moderating variable in food and beverage sub-sector manufacturing companies listed on the BEI in 2016-2022. This research was conducted based on information obtained on the Indonesian Stock Exchange. The sampling technique for this research uses a purposive sampling method. The population in this study were 47 food and beverage sub-sector manufacturing companies listed on the IDX in 2016-2022, and the sample obtained was 20 companies. The data types used are secondary data panel data regression data analysis techniques and moderate regression analysis (MRA) tests with the help of Eviews 10. This research shows that company size has a negative and significant effect on financial performance, capital structure has a negative and significant impact on financial performance, TATO has a positive and significant impact on financial performance, and liquidity has a negative and insignificant effect on financial performance. Good corporate governance can moderate the influence of company size on financial performance; GCG can moderate the impact of capital structure on financial performance; GCG can moderate the effect of TATO on financial performance; and GCG is unable to moderate the influence of liquidity on financial performance. Keywords: company size (firm size), capital structure (DER), total asset turnover ratio, liquidity (CR), good corporate governance (proportion of independent commissioners), financial performance (ROA)