Pengaruh Leverage, Cash Holdings, Tobin’s Q, dan Intensitas Iklan Terhadap Acquisition Ability (Studi Empiris pada Perusahaan yang Terdaftar di Bursa Efek Indonesia Periode 2020-2023)

Abstract

This study aims to analyze the influence of leverage, cash holdings, Tobin's Q, and advertising intensity on acquisition ability in companies listed on the Indonesia Stock Exchange (IDX) during the 2020-2023 period. Acquisition ability is a crucial indicator that reflects a company's capability to acquire other company, which can provide added value and enhance its competitiveness. This study uses a quantitative approach with logistic regression to examine the connection between independent variables (leverage, cash holdings, Tobin's Q, and advertising intensity) and the dependent variable (acquisition ability). The data used are secondary data obtained from the annual financial reports of companies listed on the IDX during the 2020-2023 period. The results of this study indicate that leverage and Tobin's Q have a positive impact on acquisition ability, while cash holdings and advertising intensity do not affect acquisition ability. This study contributes to understanding the factors that influence the acquisition ability of companies in Indonesia and provides practical implications for company management in making strategic decisions related to leverage, cash management, and investment in advertising to support acquisition strategies.