Pengaruh Human Capital Efficiency, Structural Capital Efficiency, Capital Employed Efficiency, dan Leverage terhadap Sustainable Growth pada Perusahaan BUMN Yang Tercatat di Bursa Efek Indonesia Periode 2019-2023

Abstract

This study aims to evaluate the influence of human capital efficiency, structural capital efficiency, capital employed efficiency, and leverage on sustainable growth in state-owned enterprises listed on the Indonesia Stock Exchange during the period of 2019–2023. The population in this study includes all state-owned enterprises listed on the Indonesia Stock Exchange, totaling 25 companies. The sampling technique used is saturated sampling, in which the entire population was used as the sample. The initial number of observations was 125 over five years, which was later reduced to 99 after removing outliers to ensure the validity of the analysis. This research is a quantitative study that use secondary data. The analysis of the data was carried out through descriptive statistics, classical assumption testing, and multiple linear regression techniques. The findings show that structural capital efficiency and capital employed efficiency have a positive and significant effect, while human capital efficiency and leverage do not have a significant effect on sustainable growth.