PENGARUH LIKUIDITAS, PROFITABILITAS, STRUKTUR MODAL, DAN SUKU BUNGA TERHADAP NILAI PERUSAHAAN
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Abstract
Nilai perusahaan yang tinggi akan membuat pasar percaya tidak hanya pada kinerja perusahaan saat ini namun juga pada prospek perusahaan. Penelitian ini bertujuan untuk mengetahui pengaruh likuiditas, profitabilitas dan struktur modal terhadap nilai perusahaan dengan suku bunga sebagai variabel moderasi pada perusahaan sektor pertambangan yang terdaftar di Bursa Efek Indonesia. Metode penentuan sampel dengan metode purposive sampling, dengan beberapa kriteria yang telah ditentukan maka jumlah sampel adalah sebanyak 28 perusahaan sektor pertambangan. Data penelitian merupakan data sekunder diperoleh dari www.idx.co.id maupun website perusahaan tersebut tahun 2012 sampai dengan tahun 2016. Menjawab masalah penelitian dan pengujian hipotesis penelitian digunakan teknik least square dengan alat bantu aplikasi Eviews versi 9.0. Hasil penelitian menunjukkan bahwa : 1) likuiditas dan struktur modal tidak berpengaruh signifikan terhadap nilai perusahaan, 2) profitabilitas berpengaruh signifikan negatif terhadap nilai perusahaan, 3) suku bunga sebagai variabel moderasi memperkuat hubungan antara profitabilitas terhadap nilai perusahaan.
Kata kunci : likuiditas, profitablitas, struktur modal, suku bunga dan nilai perusahaan.
This study aims to determine the effect of liquidity, profitability and capital structuretowardsthe value of the company with interest rates as moderating variable in companies in mining sectorlisted on the Indonesia Stock Exchange. The method of determining the sample was by purposive samplingmethod, with several predetermined criteria, the number of samples obtained were28 companiesin mining sector. Research and testing in applying researchhypotheses is the least square technique using Eviews application version 9.0. Research result indicates that liquidity has nosignificant effect on firm value, profitability has a significant negative effect on companyvalue, capital structure has nosignificant effect on company value, and interest rates as moderating variablestrengthen the relationship between profitability and company value.
Keywords : Liquidity, Profitability, Capital Structure, Interest Rates, Company Value
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References
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