PENGARUH KINERJA KEUANGAN TERHADAP NILAI PERUSAHAAN (STUDI EMPIRIS PADA PERUSAHAAN PROPERTY AND REAL ESTATE YANG TERDAFTAR DI BURSA EFEK INDONESIA)

Abstract

This research aimed to examine the effect of financial performance (liquidity, solvability and activity) on firm value. While, financial performance was measured by Current Ratio (CR), Debt to Equity Ratio (DER) and Total Asset Turnover (TATO). The research was quantitative. Moreover, the population was Property and Real Estate companies which were listed on Indonesia Stock Exchange during 2016-2018 (3 years). Furthermore, the data collection technique used purposive sampling, in which the sample was based on criteria given. Additionally, based on its sampling, there were 138 samples from 46 Property and Real Estate companies which were listed on Indonesia Stock Exchange during 2016-2018. In addition, the data analysis technique used multiple linear regression with SPSS 23. The research result concluded Current Ratio had negative and significant effect on firm value. On the other hand, Debt to Equity Ratio did not affect firm value. In contrast, Total Asset Turnover had positive and significant effect on firm value.
Keywords: current ratio, debt to equity ratio, total asset turnover, firm value