PENGARUH PROFITABILITAS, LEVERAGE DAN GROWTH OPPORTUNITY TERHADAP NILAI PERUSAHAAN

Abstract

This research aimed to find out the effect of profitability, leverage and growth opportunity on firm value of property and real estate companies which were listed on Indonesia Stock Exchange (IDX) during 2015-2018. Those variables were referred to return on equity, debt to equity ratio, asset growth ratio and price book value. While the population was 14 property and real estate companies which were listed on Indonesia Stock Exchange (IDX) during 2015-2018. Furthermore, the data were secondary, which in form of companies annual financial statement that were listed on Indonesia Stock Exchange. Additionally, the data analysis technique used multiple linier regression. Based on the research, profitability had positive and significant effect on firm value of property and real estate companies. Likewise, leverage had positive and significant effect on firm value of property and real estate companies. On the other hand, growth opportunity had negative and insignificant effect on firm value of property and real estate companies. Moreover, from determination test, it showed variable of profitability, leverage and growth opportunity had contributed for about 56,1% on firm value of property and real estate companies which were listed on Indonesia Stock Exchange (IDX) during 2015-2018. Meanwhile, the rest of 43,9% was affected by other variiables outside the research model.
Keywords: dividend policy, profitability, leverage, firm value.