PENGARUH STRUKTUR MODAL, PROFITABILITAS, DAN PERTUMBUHAN PENJUALAN TERHADAP NILAI PERUSAHAAN

Abstract

This research aimed to examine the effect of capital structure, profitability, and sales growth on the firm value of pharmaceutical companies listed on the Indonesia Stock Exchange (IDX) during 2017-2021. The capital structure was measured by Debt to Equity Ratio, Return On Equity measured profitability, sales growth was measured by Sales Growth, and firm value was measured by Price to Book Value. The research was causal-comparative with a quantitative approach. Moreover, the data collection technique used purposive sampling, in which the sample was based on the criteria given. The population was 11 pharmaceutical companies listed on IDX. In line with that, there were 7 samples of companies. Additionally, the data analysis technique used multiple linear regression with SPSS 27. The research result concluded that capital structure had a significantly positive effect on firm value. Likewise, profitability had a significantly positive effect on firm value. On the other hand, sales growth had a negative and insignificant effect on firm value.