PENGARUH LIKUIDITAS, PROFITABILITAS, STRUKTUR MODAL, DAN UKURAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN ROKOK YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2017-2021

Abstract

This research aimed to find out, examine, and analyze the effect of liquidity, profitability, capital structure, and firm size on the firm value of Cigarette companies listed on the Indonesia Stock Exchange during 2017-2021. The independent variables were liquidity which was measured by Current Ratio (CR), profitability which was measured by Return On Asset (ROA), the capital structure which was measured by Debt to Equity Ratio (DER), and firm size which was measured by Size Logarithm Natural from Total Asset. While the dependent variable was the firm value which was measured by Price to Book Value (PBV). Moreover, the research was descriptive-quantitative with a causal-comparative as approach. The data collection technique used purposive sampling, in which there were 4 out of 5 Cigarette companies listed on the Indonesia Stock Exchange during 2017-2021 as the sample. Furthermore, the data analysis technique used multiple regression, a classical assumption test, a proper model test, and a hypothesis test with SPSS 24. From the proper model test result, it showed that all independent variables collectively had a significant effect on firm value. Additionally, the hypothesis test result concluded that profitability had a significant effect on firm value. However, liquidity, capital structure, and firm size had an insignificant effect on firm value.