PENGARUH PROFITABILITAS DAN STRUKTUR MODAL TERHADAP NILAI PERUSAHAAN (STUDI EMPIRIS INDUSTRI FOOD & BEVERAGE DI BEI TAHUN 2017-2020)

Abstract

This research aimed to examine the effect of profitability and capital structure on firm value. The Return On
Asset was used to find out the companies’profitability. While, capital structure was referred to ratios namely,
Debt to Total Equity (DTE) and Debt to Total Asset (DTA). Meanwhile, firm value was referred to Tobins’ Q.
The population was go-public companies which were listed on Indonesia Stock Exchange (IDX). Moreover, the
population was Food and Beverages companies which were listed on Indonesia Stock Exchange (IDX) during
2017-2020. The research was quantitative. Furthermore, the method used descriptive statistics. Additionally,
the data analysis technique used classical assumption test, proper model test, and hypothesis test with SPSS 16.
Meanwhile, the data collection technique used purposive sampling. In line with that, there were 24 companies
as the sample with 68 observations of financial statements. The research result concluded that ROA as well as
DTE had a positive and significant effect on firm value. On the other hand, DTA had a no significant effect on
firm value.