PENGARUH DEBT TO EQUITY RATIO DAN RETURN ON ASSET RATIO TERHADAP KEBERHASILAN PENDANAAN (Studi Empiris Pada UMKM Yang Terdaftar Di Santara dan Bizhare)

This study aims to test and analyze empirically related to the effect of debt to equity ratio and return on asset ratio on the success of fundraising-based crowdfunding. The population used in this study is UMKM registered on the equity crowdfunding platform Santara and Bizhare with a sample of UMKM that publish financial statements in their prospectus where 31 samples are obtained. This type of research is associative quantitative research. The sampling technique is using a purposive sample and the data source comes from secondary data in the form of financial reports issued by UMKM in the prospectus and testing aids using SPSS. The research result obtained is debt to the equity ratio and return-on-asset ratio have no effect simultaneously on the success of fundraising, the debt to equity ratio has a partial effect, and return on asset ratio has no partial effect on the success of fundraising