PENGARUH LIKUIDITAS, LEVERAGE DAN AKTIVITAS TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN INDUSTRI MANUFAKTUR FORESTY AND PAPER YANG TERDAFTAR DI BURSA EFEK INDONESIA PADA TAHUN 2018-2022

Abstract

This research aimed to analyze and examine the effect of liquidity, leverage, and activity on the firm value of
Forestry and Paper companies listed on the Indonesia Stock Exchange. Furthermore, liquidity was measured by
the Current Ratio (CR), Leverage was measured by the Debt to Assets Ratio (DAR) and activity was measured by
Total Assets Turnover (TATO). The research was causal-comparative with a quantitative approach.
Furthermore, the population was Foresty and Paper companies listed on the Indonesia Stock Exchange (IDX).
The data were secondary in the form of companies’ financial statements. Moreover, the data collection technique
used purposive sampling with determined criteria. In line with that, there were 5 Foresty and Paper companies for
5 years (2018-2022). Therefore, it obtained 25 data samples processed. Additionally, the data analysis technique
used multiple linear regression with the SPSS program. The research result showed that liquidity (CR) had a
positive but insignificant effect on firm value. Likewise, leverage (DAR) had a positive but insignificant effect on
firm value. On the other hand, activity (TATO) had a significantly positive effect on firm value.