Pengaruh Penerapan IFRS 16 (Sewa) terhadap Rasio Keuangan dan Keputusan Investasi pada Perusahaan Retail
Keywords:
IFRS 16, Rasio Keuangan, Keputusan Investasi, Perusahaan Retail, Aset Hak GunaAbstract
This study aims to analyze the impact of IFRS 16 implementation on financial ratios and investment decisions in Indonesian retail companies. IFRS 16, effective from January 1, 2019, requires companies to recognize right-of-use assets and lease liabilities on the balance sheet. The research employs a quantitative approach with comparative analysis of 45 retail companies listed on the Indonesia Stock Exchange for the period 2018-2021. Results show that IFRS 16 implementation significantly increased total assets by an average of 12.3% and total liabilities by 15.7%. The leverage ratio increased from 0.45 to 0.52, while ROA decreased from 8.2% to 7.1%. The impact on investment decisions indicates that 67% of companies experienced changes in capital structure affecting external funding access. This research contributes to understanding the implications of new accounting standards implementation on financial performance and investment strategies of retail companies.
Abstrak
Penelitian ini bertujuan menganalisis pengaruh penerapan IFRS 16 terhadap rasio keuangan dan keputusan investasi pada perusahaan retail di Indonesia. IFRS 16 yang efektif berlaku sejak 1 Januari 2019 mengharuskan perusahaan mencatat aset hak guna dan liabilitas sewa dalam neraca. Metode penelitian menggunakan pendekatan kuantitatif dengan analisis komparatif terhadap 45 perusahaan retail yang terdaftar di Bursa Efek Indonesia periode 2018-2021. Hasil penelitian menunjukkan bahwa penerapan IFRS 16 secara signifikan meningkatkan total aset rata-rata sebesar 12,3% dan total liabilitas sebesar 15,7%. Rasio leverage mengalami peningkatan dari 0,45 menjadi 0,52, sementara ROA mengalami penurunan dari 8,2% menjadi 7,1%. Dampak terhadap keputusan investasi menunjukkan bahwa 67% perusahaan mengalami perubahan struktur modal yang mempengaruhi akses pendanaan eksternal. Penelitian ini memberikan kontribusi dalam memahami implikasi penerapan standar akuntansi baru terhadap kinerja keuangan dan strategi investasi perusahaan retail.
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