Pengaruh Profitabilitas, Struktur Modal, Dan Keputusan Investasi Terhadap Nilai Perusahaan (Pada Sektor Farmasi Yang Terdaftar Di Bursa Efek Indonesia Tahun 2013-2017)

Abstract

This study aims to determine the effect of Profitability, Capital Structur, and Investment Decision to company values. This population is pharmacist companies of Indonesia Stock Exchange on periode 2013 to 2017. The research design is causal research. The sampling technique is purposive sampling method. The method derived 6 companies that meet the criteria from 9 companies during the observation period of five years. Total sampel are 30 sample. The analysis technique used is the panel data regression. The results showed that profitability has positive and significant influence towards the firm value, while the capital structure has positive and significant towards the firm value. And the investment decision has positive and significant influence towards the firm value.

The Effect of Dividend Policy and Profitability on Firm Value

“…Firm value is the company's performance which is reflected in the share price formed by the supply and demand of the capital market which reflects the social assessment of the company's performance (Oktiwiati & Nurhayati, 2020). In research profitability is measured using Price to Book Value (PBV) (Basri & Multama, 2021).…”

“…One of the efforts made by the company is to enter the capital market, so that it becomes easier to get an injection of funds. This has an impact on more and more investors who are interested in investing in companies that are in the capital market (Oktiwiati & Nurhayati, 2020).…”

Sustainability Report terhadap Nilai Perusahaan: Studi Perusahaan yang Terdaftar dalam Sustainability Report Rating

“…Ketika nilai perusahaan tinggi, maka menandakan bahwa perusahaan tersebut memiliki kinerja perusahaan yang baik (Haryanto, 2014;Kusuma, 2018;Jemunu et al, 2020;dan Bakhtiar et al, 2021). Nilai perusahaan merupakan cerminan dari ekspektasi investor terhadap suatu perusahaan (Solikahan et al, 2013;Yu & Zhao, 2015;Haryanto et al, 2018;Oktiwiati & Nurhayati, 2020;Hasanuddin et al, 2021).…”

THE INFLUENCE OF PROFITABILITY, CAPITAL STRUCTURE, INVESTMENT DECISION, AND FIRM SIZE ON FIRM VALUE (A Study in the Pharmaceutical Sector Listed on the Indonesian Stock Exchange)

“…Then from the ROE variable, different research results were obtained, as in the research that was conducted by Sondakh, et al (2019) and Ali et al (2021) find that ROE positively and significantly affects firm value, while different results were obtained by Tanjung and Halawa (2022) reveals that ROE does not affect firm value. Furthermore, from the capital structure variable, different results were obtained, such as research conducted by Oktiwiati and Nurhayati (2020) and Julaeha, et al (2021) find that capital structure positively and significantly affects firm value, while the results different results were obtained by Haq and Rahayu (2019) and Fitriyah and Djawoto (2021) reveals that capital structure does not affect firm value. Then the same thing happens to the investment decision variable, where Haq and Rahayu (2019) and Oktiwiati and Nurhayati (2020) find that investment decision positively and significantly affects firm value, while Amaliyah and Herwiyanti (2020) and Salama, et al (2019) which found that investment decisions did not affect firm value.…”

“…Furthermore, from the capital structure variable, different results were obtained, such as research conducted by Oktiwiati and Nurhayati (2020) and Julaeha, et al (2021) find that capital structure positively and significantly affects firm value, while the results different results were obtained by Haq and Rahayu (2019) and Fitriyah and Djawoto (2021) reveals that capital structure does not affect firm value. Then the same thing happens to the investment decision variable, where Haq and Rahayu (2019) and Oktiwiati and Nurhayati (2020) find that investment decision positively and significantly affects firm value, while Amaliyah and Herwiyanti (2020) and Salama, et al (2019) which found that investment decisions did not affect firm value. As well as from the firm size variable the same thing also occurs, where in research conducted by Yuniastri, et al (2021) and Haq and Rahayu (2019) find that firm size positively and significantly affects firm value, while Wahyuni and Purwaningsih (2021) and Nasution (2021) reveals that firm size does not affect firm value.…”