PENGARUH PROFITABILITAS, LIKUIDITAS, LEVERAGE DAN TOTAL ASSET TURNOVER TERHADAP FIRM VALUE

Taslikah Taslikah, Indarto Indarto, Yuli Budiati

Abstract


Penelitian ini bertujuan untuk menguji pengaruh profitabilitas, likuiditas, leverage, TATO dan moderasi kepemilikan manajemen terhadap nilai perusahaan. Kepemilikan manajerial sebagai komponen dari corporate governance diharapkan mampu mengatasi masalah keagenan dalam perusahaan.. Penelitian ini menggunakan data sekunder berupa laporan keuangan yang diperoleh melalui situs web Otoritas Jasa Keuangan. Penelitian ini menggunakan metode purposive sampling.  Populasi dalam penelitian ini adalah seluruh perusahaan manufaktur yang sahamnya terdaftar di BEI sejak 2019-2021. Sebanyak 43 perusahaan terpilih menjadi sampel penelitian selama tahun 2019-2021. Metode analisis yang digunakan dalam penelitian ini adalah analisis regresi berganda. Berdasarkan hasil  analisis data dan pembahasan yang telah dikemukakan pengaruh profitabilitas, leverage dan moderasi kepemilikan manajemen terhadap nilai perusahaan dapat ditarik kesimpulan profitabilitas, leverage dan moderasi kepemilikan manajemen terbukti berpengaruh signifikan terhadap nilai perusahaan, hal ini mengindikasikan bahwa peningkatan nilai perusahaan dipengaruhi peningkatan profitabilitas, leverage dan moderasi kepemilikan manajemen artinya kebijakan profitabilitas, leverage dan moderasi kepemilikan manajemen yang dilakukan perusahaan mempengaruhi nilai perusahaan. Leverage dan TATO tidak terbukti berpengaruh signifikan terhadap nilai perusahaan.

Keywords


Profitabilitas; Likuiditas; Leverage; TATO; Kepemilikan Manajemen; Nilai Perusahaan

Full Text:

PDF

References


Ang, Robert, (1997), “Buku Pintar: Pasar Modal Indonesia (The Intelligent Guide to Indonesian Capital Market),” Mediasoft Indonesia, First Edition

Aggarwal,Divya; Purna Chandra Padhan, (2017), “Impact of Capital Structure on Firm value: Evidence from Indian Hospitality Industry,” Theoretical Economics Letters, 2017, 7, 982-1000

Awan, Abdul Ghafoor; Muhammad Usman Lodhi; Dilshad Hussain, (2018), “Determinants of Firm value: A case study of Chemical Industries of Pakistan,” Global Journal of Management, Social Sciences and Humanities 46 Vol 4 (1) Jan-March, 2018 pp.46-61

Baert, Lieven dan Rudi Vander Vennet, (2009), “Bank ownership, firm value, and firm capital structure in Europe, “ JIEL Classification

Brigham, F Eugene, (2005) “Fundamental of financial Management,” The Dryden Press: Holt-Sounders Japan,Third Edition

Brigham, F Eugene, dan Joel Houston, (2004) “Intermediate financial management,” Fifth edition-International edition, The Dryden Press

Brigham dan Houston, (2001), “Manajemen Keuangan,” Edisi Kedelapan, Penerbit Erlangga

Brigham dan Houston, (2009), “Manajemen Keuangan,” Edisi keduabelas, Penerbit Erlangga

Chowdhury, Anup dan Suman Paul Chowdhury. 2010. “Impact of Capial Structure on Firm’s Value: Evidence from Bangladesh”. BEH-Business and Economic Horizons

Collier, Michael, Shaer Biabani; dan Mohammad Thaleghani, (2010), “The effect of industry on the relation between capital structure and profitability of Tehran stock exchange firms,” Journal of Basic and Applied Scientific Research

Elif Akben Selcuk, (2016), “Does firm age affect profitability? Evidence from Turkey,” Journal of Applied Economic Sciences

Ghalandari, Kamal, (2013), “The Moderating Effects of Growth Opportunities on the Relationship between Capital Structure and Dividend Policy and Ownership Structure with Firm value in Iran: Case Study of Tehran Securities Exchange,” Research Journal of Applied Sciences, Engineering and Technology 5(4): 1424-1431, 2013

Gujarati, DN, (1995), “Basic econometrics,” Singapore: Mc Graw Hill, Inc

Hermuningsih, Sri; Dwipraptomo Agus Harjito; dan Dewi kusuma Wardani, (2010), “The influence of insider ownership, deviden policy, and debt policy to the firm value at companies which are enlisted in Indonesia Stock Exchange,” Universitas Islam Indonesia

Imam Ghozali, 2004, “Aplikasi Analisis Multivariate dengan program SPSS,” Badan Penerbit UNDIP, Semarang

Jiekun, Huang, (2012), “Coordination costs, institutional investors, and firm value,” JIEL Classification

Karaca, Süleyman Serdar; Arif Savsar, (2012), “The effect of financial ratios on the firm value: Evidence from Turkey,” Journal of Applied Economic Sciences

Kapoor, Sujata, (2006), “Impact of dividend policy on shareholders value: A study of Indian firms,” Jaypee Institute of Information Technology

McConnel, John J dan Henri Servaes, (1990), “Additional evidence on equity ownership and corporate value,” Journal of Financial Economics

Mehta, (2012), “Strategic Orientation and Financial Performance of Firms Implementing ISO 9000”. International Journal of Quality & Reliability Management

Mocviociov, Julija, Olga Kolyanev, dan Victor Kapanov, (2010), ”The determinants of profitability in the Baltic states and Rusia,” Electronic Publications of Pan European Institutes

Myers, Stewart C dan Richard A. Brealy, 1977. Principle of Corporate Finance, Fourth Edition , Mc. Graw-Hill International Edition

Norhayati, Mohamed; Wee Shu Hui; Normah Hj Omar; Rashidah Abdul Rahman; Norazam Mastuki; Maz Ainy Abdul Aziz; dan Shazelina Zakaria, (2012), “Empirical analysis of determinants on dividend payment: profitability and liquidity,” Accounting Research Institute

Okpara, (2010), “Measurement of impact agency costs level of firms on profitability and leverage policy: an empirical study,” Interdiciplinary Journal of Contemporary Research in Bussiness

Phalippou, Ludovic, (2004), “What drives the value premium,” JIEL Classification

Ren, Haiyun; Krishnamurti Chandrasekar; dan Bin Li, (2015), “Moderating Effects of Board and Managerial Incentive on the Relationship between R&D Investment and Firm PerformanceEvidence from Listed Manufacturing Firms in China,” The Journal of International Management Studies, Volume 7 Number 1

Sabrin, Buyung Sarita, Dedy Takdir .S, Sujono, (2016), “The Effect of Profitability on Firm value in Manufacturing Company at Indonesia Stock Exchange,” The International Journal Of Engineering And Science (IJES)

Sadalia,Isfenti; Saroha Simanjuntak dan Novi Andrani Butar-Butar, (2017), “An Analysis of the Determinants of Capital Structure and their Influence on Firm value (A Case Study on Manufacturing Companies Investors in Southeast Asia),” International Journal of Applied Business and Economic Research

Suad Husnan, (2001), “Corporate Governancedan Keputusan Pendanaan: Perbandingan Kinerja Perusahaan dengan Pemegang Saham Pengendali Perusahaan Multinasional dan Bukan Multinasional,” Jurnal Riset Akuntansi, Manajemen, Ekonomi, Vol. 1 No.1, Februari: 1 – 12

Suad Husnan, (1998), “Manajemen Keuangan-Teori dan Penerapan (Keputusan Jangka Panjang),” Buku I, Edisi 4, BPFE

Sucuahi, William dan Jay Mark Cambarihan. 2016. “Influence of Profitability to the Firm value of Diversified Companies in the Philippines”. Internasional Journal of Accounting and Finance Research. Vol 5. No. 2. Pp 149-153

Sulong; Zunaidah dan Fauzias Mat Nor, (2008), “Dividends, ownership structure and board governance on firm value: empirical evidence from Malaysia Listed Firms,” Malaysian Accounting Review, Volume 7 No. 2, 2008

Thomsen, Steen, (2015), “Blockholder Ownership, Dividends and Firm value In Continental Europe,” Department of International Economics and Management

Van Horne, J.C (2005), “Financial Management and Policy,” Edisi 10, New York, Prentice-Hall

Weston, J.F. dan Copland, T.E. (1997), “Manajemen pendanaan,” Edisi 7. Jakarta : Penerbit Bina Rupa Aksara

Weston, J.F. dan Copland, T.E. (1999),“Manajemen pendanaan,” Edisi 9. Jakarta : Penerbit Bina Rupa Aksara




DOI: http://dx.doi.org/10.26623/sbj.v2i2.8923

Refbacks

  • There are currently no refbacks.


Copyright (c) 2024 Sustainable Business Journal

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.