Pengaruh struktur modal, likuiditas, profitabilitas, dan kebijakan dividen terhadap nilai perusahaan pada perusahaan sektor energi di Indonesia
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The purpose of this thesis is to identify the factors that influence firm value in the energy sector. This is driven by data on stock price growth obtained from IDX Statistics, which shows that, on average, stock prices in the energy sector have increased over the past five years. The average growth in the energy sector was recorded at 9% in 2020, 36% in 2021, 33% in 2022, and 9% in 2023. Thus, the average growth rate of the energy sector over the last five years has been 22% per year. The researcher also found that there is still a lack of journals addressing the factors influencing firm value in the energy sector in Indonesia. This study is based on four independent variables and one dependent variable. The dependent variable in question is Firm Value. The independent variables include Capital Structure, Liquidity, Profitability, and Dividend Policy. The companies examined in this study are energy companies listed on the Indonesia Stock Exchange that have adequate financial statement data. The research period covers five years, from 2019 to 2023, focusing on companies in the relevant sector. All selected variables are based on previous research findings. Based on the study conducted, it can be concluded that two variables influence Firm Value: Capital Structure and Profitability, both of which have a significant positive relationship with Firm Value. Meanwhile, the other two variables, Liquidity and Dividend Policy, are found to have no significant relationship with Firm Value.
Tujuan dari penelitian ini adalah untuk mengidentifikasi faktor-faktor yang memengaruhi nilai perusahaan di sektor energi. Penelitian ini didorong oleh data pertumbuhan harga saham yang diperoleh dari Statistik IDX, yang menunjukkan bahwa rata-rata harga saham di sektor energi mengalami peningkatan selama lima tahun terakhir. Pertumbuhan rata-rata sektor energi tercatat sebesar 9% pada tahun 2020, 36% pada tahun 2021, 33% pada tahun 2022, dan 9% pada tahun 2023. Dengan demikian, rata-rata tingkat pertumbuhan sektor energi selama lima tahun terakhir mencapai sekitar 22% per tahun. Peneliti juga menemukan bahwa masih terdapat kekurangan jurnal yang membahas faktor-faktor yang memengaruhi nilai perusahaan di sektor energi di Indonesia. Penelitian ini menggunakan satu variabel dependen, yaitu Nilai Perusahaan, dan empat variabel independen, yaitu Struktur Modal, Likuiditas, Profitabilitas, dan Kebijakan Dividen. Perusahaan yang dianalisis dalam penelitian ini merupakan perusahaan energi yang terdaftar di Bursa Efek Indonesia (BEI) dan memiliki data laporan keuangan yang memadai. Periode penelitian mencakup lima tahun, yaitu dari tahun 2019 hingga 2023, dengan fokus pada perusahaan-perusahaan di sektor terkait. Seluruh variabel yang digunakan dalam penelitian ini didasarkan pada temuan penelitian sebelumnya. Berdasarkan hasil penelitian, dapat disimpulkan bahwa terdapat dua variabel yang berpengaruh signifikan terhadap Nilai Perusahaan, yaitu Struktur Modal dan Profitabilitas, yang keduanya memiliki hubungan positif yang signifikan. Sementara itu, dua variabel lainnya, yakni Likuiditas dan Kebijakan Dividen, tidak menunjukkan hubungan yang signifikan terhadap Nilai Perusahaan.
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