PENGARUH STRUKTUR MODAL, PROFITABILITAS, DAN KEPUTUSAN INVESTASI TERHADAP NILAI PERUSAHAAN PADA SEKTOR PERTAMBANGAN BATU BARA

Abstract

This research aimed to find out the effect of capital structure, profitability, and investment decisions on firm value. The capital structure was referred to as Debt to Equity Ratio, profitability was referred to as Net Profit Margin, and investment decisions were referred to as Capital Expenditure to Book Value Asset. While the firm value was referred to as Price to Book Value. The population was 21 mining companies that were listed on IDX 2016-2021. Moreover, the data collection technique used purposive sampling. In line with that, there were 7 samples. Furthermore, the research was quantitative, the data analysis technique used multiple liniear regression. The result concluded that capital structure had asignificantly positive effect on firm value. It meant the debt which was used by the company would be a good indication of opportunity in the future. Therefore, the investors were interested in investing. As consequence, it increased the firm value. Profitability had a significantly positive effect on firm value. This meant as the companies increased their profit, investors were more likely to invest. So, the firm value increased. Investment decisions had a significantly negative effect on firm value. As the decisions were wrong, the investor would not invest, and the companies had a loss.