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

Abstract

This research aimed to find out the effect of capital structure, invesment decisions, and profitability on the firm
value of Coal Mining companies listed on the Indonesia Stock Exchange (IDX) during 2018-2022. The research
was causal-comparative with a quantitative approach. Moreover, the data were secondary, in the form of
companies financial statements. The data collection technique used saturation sampling with 10 companies as
the sample. Furthermore, the data analysis technique used multiple linear regression with SPSS. The result of
the determination coefficient test R Square was 0,655. It meant that 65,5% of the firm value could be explained
by capital structure, investment decisions, and profitability. The rest percentage was explained by other
variables. Additionally, the result of the hypothesis test (t-test) concluded that capital structure (Debt to Equity
Ratio), had a positive but insignificant effect on the firm value of Coal Mining companies. However, the
investment decisions (Price Earning Ratio) as well as profitability (Return On Equity) had a positive and
significant effect on the firm value of Coal Mining companies.