PENGARUH STRUKTUR MODAL, UKURAN PERUSAHAAN, DAN PERTUMBUHAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN

Abstract

This research aimed to examine the effect of capital structure, firm size, and companies’ growth on the firm value of Property and Real Estate companies listed on the Indonesia Stock Exchange (IDX). The research was quantitative. Moreover, the data collection technique used purposive sampling. In line with that, there were 19 companies as the sample during the observation period (20019-2022). Therefore, there were 76 data samples. However, there were 9 outlier data. In total, 67 data were analyzed. Furthermore, the data analysis technique used multiple linear regression with SPSS 25. The result concluded that capital structure did not affect firm value. It was caused by the higher debt used which hampered the investors’ interest to invest. On the other hand, firm size had a positive effect on firm value. This happened as the higher the companies’ stability and more optimal their income source management were, the more investors would be interested in investing. In contrast, companies’ growth had a negative effect on firm value. It meant, that the higher the companies’ growth was, the more funds would be needed by companies to support their operations. Thus, it would make the stakeholders’ wealth lack to be considered.