PENGARUH STRUKTUR MODAL, PROFITABILITAS, UKURAN PERUSAHAAN, INVESTMENT OPPORTUNITY SET TERHADAP NILAI PERUSAHAAN

Abstract

This research aimed to find out the effect of capital structure, profitability, firm size, investment opportunity
set, on the firm value of various industries which were listed on Indonesia Stock Exchange (IDX) 2014-
2018.The population was 42 various industries which were listed on Indonesia Stock Exchange (IDX) 2014-
2018. While, the data collection technique used purposive sampling in line, there were 23 companies with 115
observations as sample. Moreover, the data analysis technique used multiple linear regression. Based on the
research result, it concluded capital structure had negative effect on the firm value. It meant, the higher the
capital structure, the more debts would be paid. As consequence, the firm value was lower. Meanwhile,
profitability had positive effect on the firm value in other words, the higher the company’s effort in having its
profit, the higher the shares price would be. As consequence, the firm value was higher. On the other hand, the
firm size did not effect on the firm value. It meant, company’s total asset had not convinced the investors yet. As
consequence, the firm value not affected. Furthermore, investment opportunity set set had positive effect on the
firm value. In other words, company’s investment determined a positive net present value. As consequence, the
firm value was increased also