PENGARUH PROFITABILITAS, LIKUIDITAS, KEBIJAKAN UTANG DAN GROWTH OPPORTUNITY TERHADAP NILAI PERUSAHAAN

Abstract

The firm value can reflect the value of assets which is owned by the company. The enhancement of the firm value will attract the interest of the investors to invest in the company. The purpose of this research is to examine the influence of profitability, liquidity, debt policy, and growth opportunity to the firm value. This research has been carried out by using the multiple regressions test. The samples are non-banking companies which are listed in LQ45 index in Indonesia Stock Exchange in 2011-2013 periods. The LQ45 index is the row of 45 stocks with the largest transaction in Indonesia Stock Exchange. The LQ45 companies are the selection companies which have the high stock. The selection of the companies is carried out in the beginning of February and August; therefore the stocks in the index will always change. The result of the research shows that the profitability variable has influence to the firm value whereas liquidity, debt policy and growth opportunities variables do not have any influence to the firm value.
Keywords: Profitability, Liquidity, Debt Policy, Growth Opportunity and Firm Value.