PENGARUH KINERJA KEUANGAN DAN PELUANG PERTUMBUHAN TERHADAP NILAI PERUSAHAAN

Abstract

This research is meant to test the influence of financial performance which is proxy with Current Ratio (CR)Return On Asset (ROA), Debt to Equity Ratio (DER), and growth opportunity which is proxy by Total Assets to the firm value which is proxy by Price to Book Value (PBV) through annual financial statement which has been prepared by the food and beverages companies which are listed in Indonesia Stock Exchange. The samples othis research has been obtained by using purposive sampling method on food and beverages companies which are listed in Indonesia Stock Exchange (IDX) in 2012-2015 periods and based on the predetermined criteria, 12 food and beverages companies have been selected as samples. The analysis method has been carried out by using multiple linear regressions analysis. Based on the result of test it can be concluded that: (1) liquidity does not have any influence to the firm value. Because when the current assets is getting high, it means that there is an idle funds in the company; (2) profitability has positive influence to the firm value. when the profit which has been obtained is getting high it will increase the firm value; (3) leverage has positive influence to the firm valueWhen the risk which is burden by the company is high, the profit for investors is getting large as wel; (4) growth opportunity does not have any influence to the firm value. Because the company with high growth level usually
use their profit to expand the business.
Keywords: Liquidity, profitability, leverage, opportunity growth, firm value