PENGARUH PROFITABILITAS, INTELLECTUAL CAPITAL DAN STRUKTUR MODAL TERHADAP NILAI PERUSAHAAN PERKEBUNAN

Abstract

This research aimed to examine the effect of profitability, intellectual capital, and capital structure on the firm value of plantation companies during 2017-2021. Moreover, the population was plantation companies listed on the Indonesia Stock Exchange (IDX) during 2017-2021. Furthermore, the data collection technique used purposive sampling, in which the sample was based on the criteria given. In line with that, there were 9 plantation companies listed on IDX during 2017-2021 as the sample. Additionally, the data analysis technique used multiple linear regression with SPSS (Statistical Product and Service Solution) 26 version. In addition, profitability had a positive and significant effect on the firm value because of the company’s ability to earn high profits for plantation companies during 2017-2021. On the other hand, intellectual capital had a negative and significant effect on the firm value because investors do not respond to information about intellectual capital because they believe that the increase in firm value is influenced by other factors of plantation companies during 2017-2021. In contrast, the capital structure had a negative and insignificant effect on the firm value due to debt from sources that have a high risk of increasing the firm value, of plantation companies during 2017-2021