PENGARUH PROFITABILITAS, LIKUIDITAS, LEVERAGE DAN AKTIVITAS TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN FARMASI DI BEI

Abstract

The pharmaceutical company is one of the groups of the company in the manufacturing industry listed on the
Indonesia Stock Exchange (IDX) as one of the factors which has an important role in supporting the national
health development through a source of medicine production. This research aimed to examine and analyse the effect
of profitability, liquidity, leverage, and activity on the firm value at pharmaceutical companies listed on the
Indonesia Stock Exchange (IDX) in the 2017-2020 period. This research was quantitative, with a comparative
causal approach. Furthermore, the research sample collection technique used the purposive sampling method, so
that it obtained 8 pharmaceutical companies which fulfilled the research criteria. Moreover, the research data used
secondary data with a financial statement of pharmaceutical companies while the research analysis technique used
multiple linear regressions analysis. The hypothesis test result showed that profitability had a significantly positive
effect on the firm value, liquidity had a negative and insignificant effect on the firm value, on the other hand,
leverage had an insignificantly positive effect on the firm value, and activity had a negative and significant effect
on the firm value.