Musytari : Jurnal Manajemen, Akuntansi, dan Ekonomi

Vol. 25 No. 2 (2026): Musytari: Neraca Manajemen, Akuntasi, dan Ekonomi, ISSN 3025-9495
Articles

ANALISIS PENGARUH EFISIENSI PENGGUNAAN ASET TERHADAP KINERJA KEUANGAN DENGAN MEDIASI PROFITABILITAS: STUDI PADA PERUSAHAAN TRANSPORTASI DAN LOGISTIK DI BURSA EFEK INDONESIA

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  • Intan Sabila,
  • Gatot Nazir Ahmad,
  • Dicky Iranto
Intan Sabila
Universitas Negeri Jakarta
Gatot Nazir Ahmad
Universitas Negeri Jakarta
Dicky Iranto
Universitas Negeri Jakarta

Published 2026-01-14

Keywords

  • Asset Utilization Efficiency,
  • Profitability,
  • Corporate Financial Performance

How to Cite

ANALISIS PENGARUH EFISIENSI PENGGUNAAN ASET TERHADAP KINERJA KEUANGAN DENGAN MEDIASI PROFITABILITAS: STUDI PADA PERUSAHAAN TRANSPORTASI DAN LOGISTIK DI BURSA EFEK INDONESIA. (2026). Musytari : Jurnal Manajemen, Akuntansi, Dan Ekonomi, 25(2), 2381-2390. https://cibjournal.com/index.php/musytari/article/view/6439

Abstract

This study aims to analyze the effect of asset utilization efficiency (TATO, WCT, and FATO) on financial performance (EPS) with profitability (ROA) as a mediating variable in transportation and logistics companies listed on the Indonesia Stock Exchange during the 2020–2024 period. The study employs secondary data obtained from companies’ financial statements and annual reports. The sample was selected using purposive sampling, resulting in 34 companies with a total of 158 observations (unbalanced data). Data analysis was conducted using panel data regression, Sobel test and bootstrapping. The results indicate that asset utilization efficiency, in general, does not have a significant direct effect on corporate financial performance. Partially, asset utilization efficiency proxied by Total Asset Turnover (TATO) has a significant effect on profitability, whereas Working Capital Turnover (WCT) and Fixed Asset Turnover (FATO) are not significant. Profitability has a significant effect on financial performance. Mediation testing using the Sobel test and bootstrapping confirms that profitability mediates the relationship between asset utilization efficiency (TATO) and financial performance, while the mediation paths through WCT and FATO are not statistically significant

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