Analisis Pengaruh Leverage, Financial Performance Firm Size Dan Sales Growth Terhadap Firm Value Pada Perusahaan Manufaktur Di Bursa Efek Indonesia

Abstract

This study aims to analyze the effect of leverage, financial performance, firm size and sales growth on firm value. The study population is all manufacturing companies listed on the Indonesian stock exchange, the period 2017 - 2018. The sample selection uses a purposive sampling method. Data analysis and hypothesis testing were carried out using a structural equation modeling approach using the Eviews 11. The results showed that financial performance and sales growth had a significant effect on firm value. investors in making investment decisions view the level of profitability from their ability to manage assets. The ability to manage assets creates sales growth so that it can get maximum profit. Both of these things can increase the company's value in the market. Investors in making investment decisions generally do not consider several factors as a whole, so that the right investment decisions will be obtained.

Profitability and Liquidity Moderated By Firm Size as Determinants of Firm Value

“…Liquidity can provide information about a company's ability to pay its current obligations. The higher the liquidity, the higher the company value, which reflects that the company is in good condition (Fauziah & Jamal, 2020). This is in accordance with signal theory, that company information will be able to provide signals to investors.…”

“…Liquidity can provide information about a company's ability to pay its current obligations. The higher the liquidity, the higher the company value, which reflects that the company is in good condition (Fauziah & Jamal, 2020). The research results show that the liquidity ratio does not affect company value because investors pay less attention to the liquidity variable because based on research data, the distribution of current debt and current assets is relatively constant.…”

Faktor-Faktor Yang Mempengaruhi Firm Value Dengan Variabel Kontrol Firm Size

“…Menurut (Febriyanto, 2018), perusahaan yang memiliki sales growth yang baik juga memiliki pertumbuhan perusahaan yang baik. Hasil penelitian milik hasil dari penelitian milik (Fajaria & Isnalita, 2018) dan (Fauziah & Jamal, 2020) mengatakan bahwa sales growth memiliki pengaruh yang positif dan signifikan terhadap firm value.…”

The Effect of Political Connection and Women Directors on Company Value with Financial Performance as a Mediating Variable

“…(Kusumajaya, 2011) Arguing that investors will buy company stock because they are attracted by the profitability that the company provides to shareholders, high profitability will increase the book value as a measure of the company's value. Research conducted by (Efendi, Susilawati & Suryaningsih, 2022;Fauziah & Jamal, 2020;Nafasati & Hilal, 2021;Rusnaeni, Gursinda, Sasongko & Hakim 2022;Setiawanta et al, 2019) shows that financial performance has a positive effect on the value of the company. H5: Financial performance has a positive effect on company value.…”

“…If financial performance is good, investors will be interested in buying shares, which will eventually increase stock prices (Ligita & Muazaroh, 2020). Research conducted by (Efendi, Susilawati & Suryaningsih, 2022;Fauziah & Jamal, 2020;Nafasati & Hilal, 2021;Rusnaeni, Gursinda, Sasongko & Hakim, 2022;Setiawanta, Purwanto & Hakim, 2019) shows that financial performance has a positive effect on the value of the company. Research conducted by (Efendi, Susilawati & Suryaningsih, 2022) shows that financial performance is able to mediate political connections with financial performance.…”