The Effect of Capital Structure, Liquidity and Profitability on Company Value in the Food Sub Sector and Beverages on the Indonesia Stock Exchange

Abstract


 
 
 
 This research is motivated by the inconsistency of the results of previous studies so that the purpose of this study is to determine the effect of capital structure, liquidity and profitability on firm value in the Food and Beverage Sub-Sector on the Indonesia Stock Exchange in 2016-2019. The population in this study is the Food and Beverage Sub-Sector companies on the Indonesia Stock Exchange in 2016-2019 through the website www.idx.co.id, where the sample used is 12 companies with 48 observations and the analytical technique used is the classical assumption test, multiple linear regression, and t test. The results of the analysis show that the capital structure has a negative effect on firm value in the food and beverage sub-sector companies on the Indonesia Stock Exchange. Liquidity has a negative effect on firm value in food and beverage sub-sector companies on the Indonesia Stock Exchange. Profitability has a positive effect on firm value in food and beverage sub-sector companies on the Indonesia Stock Exchange.
 .
 
 
 

Analysis Of Financial Performance And Macroeconomic On Firm Value

“…Several researchers found that the capital structure has a positive impact to the firm value (Suzulia and Saluy, 2020;Purwanti, 2020;Rahmawati et al, 2021). And other studies found that the capital structure affects negatively and/or is not significant to the firm value (Antoro et al, 2020;Yasin and Studiviany, 2021;Rudini et al, 2021;Halfiyyah and Suriawinata, 2019).…”

“…Previous studies that found the capital structure has a positive impact to the firm value are (Suzulia and Saluy, 2020), (Anggraeni and Haryani, 2020), (Purwanti, 2020), (Rahmawati et al, 2021). Meanwhile the studies written by (Halfiyyah and Suriawinata, 2019), (Sutanto et al, 2019), (Antoro et al, 2020), (Yasin and Studiviany, 2021), (Rudini et al, 2021), (Wijayaningsih and Yulianto, 2021) stated that the capital structure has negative impact/not significant to the firm value. And the hypothesis that could be arranged regarding capital structure to the firm value are: H1: Capital Structure has a positive and significant effect on firm value.…”

“…According to several previous studies about profitability to the firm value also have different results. There are studies by (Purwanti, 2020), (Markonah et al, 2020), (Mubyarto, 2020), (Antoro et al, 2020), (Rudini et al, 2021), (Putri and Wiksuana, 2021), (Rahmawati et al, 2021) and (Bon and Hartoko, 2022) stated that profitability has a positive impact to the firm value. Meanwhile Sudiani and (Wiksuana, 2018), (Sutanto et al, 2019), (Hirdinis, 2019), (Sudrajat and Setiyawati, 2021), (Sudjiman and Sudjiman, 2022) stated that profitability has a negative impact to the firm value.…”

“…Based on several previous studies regarding profitability to the firm value that also have opposite results. Several researchers found that profitability has a positive impact to the firm value (Markonah et al, 2020;Mubyarto, 2020;Antoro et al, 2020;Rudini et al, 2021;Putri and Wiksuana, 2021;Rahmawati et al, 2021;Bon and Hartoko, 2022;Halfiyyah et al, 2022). Meanwhile other researchers stated that profitability has a negative impact to the firm value (Sudiani and Wiksuana, 2018;Amin, 2021).…”

Perbedaan Faktor-faktor yang Mempengaruhi Nilai Perusahaan pada Sektor Industri Dasar Kimia dan Aneka Industri

“…Karena belum mencapai titik optimalnya, manfaat yang diterima dari peningkatan kewajiban lebih besar dari pengorbanan yangg dikeluarkan mengakibatkan manfaat dalam pemakaian kewajiban dari jangka panjang maupun pendek dapat meningkatkan nilai sebuah perusahaan (Amro & Asyik, 2021). Hasilnya sesuai penelitian Rosalia et al, (2022) tetapi bertentangan penelitian Ni Wayan Rudini et al, (2021) struktur modal tidak mempengaruhii nilai perusahaan…”