Pengaruh Profitabilitas, Struktur Modal, Dan Likuiditas Terhadap Nilai Perusahaan
Main Article Content
Abstract
The purpose of this study is to obtain empirical evidence regarding the effect of profitability, capital structure, and liquidity on firm value in property and real estate sub-sector companies listed on the Indonesia Stock Exchange in 2015-2019. This study used 30 property and real estate sub-sector companies that were selected using a purposive sampling method. Data processing techniques use multiple regression analysis assisted by Software Eviews version 11 and Microsoft Excel. The results showed that profitability, capital structure and liquidity had a positive and significant effect on firm value. Liquidity does not have a significant effect on firm value. The implication of this research is the need to increase profitability and capital structure to increase firm value which will provide good signals for investors.
Article Details
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
This work is licensed under a Jurnal Komunikasi Creative Commons Attribution-ShareAlike 4.0 International License.
References
Aisyah, R. N. (2014). Pengaruh Likuiditas dan Struktur Modal Terhadap Nilai Perusahaan (Kasus Pada Perusahaan Pertambangan Logam Dan Mineral Yang Terdaftar Di Bursa Efek Indonesia Periode 2009-2013).
Brigham, E. F., & Houston, J. F. (2013). Fundamentals of Financial Management Eighth Edition (Eighth Edi). Canada: Cangage Learning, Ltd.
Endang dan Murhadi, W. R. W. T. E. (2013). Faktor-faktor Yang Mempengaruhi Nilai Perusahaan di Sektor Property, Real Estate & Building Construction Yang Terdaftar di BEI Periode 2008-2012. Jurnal Akuntansi Dan Keuangan, 2(1), 1–18.
Husna, A., & Satria, I. (2019). Effects of Return on Asset, Debt To Asset Ratio, Current Ratio, Firm Size, and Dividend Payout Ratio on Firm Value. International Journal of Economics and Financial Issues, 9(5), 50–54.
Markonah, M., Salim, A., & Franciska, J. (2020). Effect of Profitability, Leverage, and Liquidity To the Firm Value. Dinasti International Journal of Economics, Finance & Accounting, 1(1), 83–94.
Modigliani, F., & Miller, M. H. (1958). The Cost of Capital, Corporation Finance and the Theory of Investment. The American Economic Review, 48(3), 261–297.
Myers, S. C. (1984). The Capital Structure Puzzle. The Journal of Finance, 39(3), 575–592.
N.K.A., S., & G.B., W. I. (2018). Capital Structure, Investment Opportunity Set, Dividend Policy and Profitability As A Firm Value Determinants. Russian Journal of Agricultural and Socio-Economic Sciences, 9(81), 259–267.
Oktarina, D. (2018). The analysis of firm value in Indonesia Property and Real Estate Companies. International Journal of Research Science & Management, 5(9), 85–92.
Rizki, Z. W., Mochammad, D., & Mangest, R. S. (2018). The Effect of Profitability, Liquidity on Capital Structure and Firm Value : a Study of Property and Real Estate Companies Listed on Indonesia Stock Exchange in 2013-2015. Eurasia: Economics & Business, 2(8), 34–41.
Rompas, G. P. (2016). Likuiditas, Solvabilitas, dan Rentabilitas Terhadap Nilai Perusahaan BUMN Yang Terdaftar Di Bursa Efek Indonesia. Jurnal EMBA, 1(3), 252–262.
Sabrin, Sarita, B., .S, D. T., & Sujono. (2016). Effect of Profitability, Investment Decision on Company Value in Manufacturing Company Listed in Indonesia Stock Exchange. The International Journal Of Engineering And Science (IJES), 5(10), 81–89.
Sari, R. A., & Ardiansari, A. (2019). Determinant of Firm Value in Property, Real Estate and Construction Sector 2015-2017. Management Analysis Journal, 8(3), 293–301.
Sondakh, R. (2019). the Effect of Dividend Policy, Liquidity, Profitability and Firm Size on Firm Value in Financial Service Sector Industries Listed in Indonesia Stock Exchange 2015-2018 Period. Accountability, 8(2), 91–101.
Sujoko, & Soebiantoro, U. (2007). Pengaruh Struktur Kepemilikan, Strategi Diversifikasi, Leverage, Faktor Intern Dan Faktor Ekstern Terhadap Nilai Perusahaan (Studi Empirik Pada Perusahaan Manufaktur Dan Non Manufaktur Di Bursa Efek Jakarta). Jurnal Manajemen Dan Kewirausahawan, 9(1), 41–48.
Tantawi, D., & Jonnardi. (2020). Pengaruh Likuiditas, Firm Growth, Leverage Dan Profitabilitas Terhadap Nilai Perusahaan. Jurnal Multiparadigma Akuntansi Tarumanagara, 2(4), 1460–1468.
Tauke, P. Y., Murni, S., & Tulung, J. E. (2017). Pengaruh Kinerja Keuangan Terhadap Nilai Perusahaan Real Estate and Property Yang Terdaftar Di Bursa Efek Indonesia Tahun 2012-2015. Jurnal EMBA, 5(2), 919–927.
Wicaksana, A. W., Djailani, A. Q., & BS., M. K. A. (2018). Analisis Pengaruh Return On Assets (ROA), Earning Per Share (EPS), dan Debt to Equity Ratio (DER) Terhadap Nilai Perusahaan (Studi Empiris pada Perusahaan yang Tercantum dalam Indeks LQ45 BEI Periode 2013-2016). E-Journal Riset Manajemen, 90–101.
Winarto, J. (2015). The Determinants of Manufacturer Firm Value in Indonesia Stock Exchange. Internasional Journal of Information, Business and Management, 7(4), 323–349.
Wright, P., & Ferris, S. P. (1997). Agency conflict and corporate strategy: The effect of divestment on corporate value. Strategic Management Journal, 18(1), 77–83.
www.idx.co.id
www.idnfinancials.com