PENGARUH PROFITABILITAS, STRUKTUR MODAL, DAN UKURAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN (STUDI PADA PERUSAHAAN DI SUB-SEKTOR MAKANAN DAN MINUMAN YANG TERDAFTAR PADA BURSA EFEK INDONESIA PERIODE 2018 – 2020)

Authors

  • Roby Amirul Alrasyid Accounting Department, Faculty of Economics and Business, Brawijaya University
  • Made Sudarma Brawijaya University

Abstract

The increasingly tough industrial competition requires companies to be capable of expanding their business. As such, many companies decide to raise capital through stock exchange. When entering the stock exchange, issuers have to deal with how to attract investors, one of which is by improving the firm value. This study aims to determine the effect of profitability, capital structure, and firm size on the firm value of food and beverage sub-sector companies listed on the Indonesia Stock Exchange between 2018 and 2020. The dependent variable in this study include firm value with the proxy of price to book value (PBV), and the independent variables include profitability with the proxy of return on assets (ROA), capital structure with the proxy of debt to equity ratio (DER), and firm size with the proxy of total assets. This study involves 84 samples with predetermined criteria selected through purposive sampling technique and analyzed by multiple linear regression utilizing SPSS 26 software. The results of this study indicated that profitability and capital structure had a positive effect on firm value, while firm size did not have a positive effect on firm value.

Published

2022-09-06