PENGARUH KINERJA KEUANGAN TERHADAP NILAI PERUSAHAAN

Abstract

This research aimed to find out the effect of financial performance which was measured by liquidity (Quick Ratio), profitability (Return on Asset) and solvability (Debt to Asset) on the firm value of some Textileand Garment companies which were listed on Indonesia Stock Exchange 2015-2018. The data collection technique used purposive sampling. In line with, there were 60 companies as sample. While, the data analysis technique used multiple linear regression. The research result concluded profitability had negative effect on the firm value. This meant, as proper profitability gave positive signal; optimal performance would be the result. Meanwhile, liquidity did not affect the firm value. Liquidity itself was company effort in fulfilling their short-therm liabilities. In other words. The higher the liquidity, the higher the firm value and the lower the liquidity, the lower the firm value. Moreover, higher cash performance would affect company short term liabilities and gave positive effect on the firm value. In addition, company who had higher solvability would gain bigger loss and risk. On the other hand, the company also got the chance to have bigger profit.
Keywords: Liquidity, Profitability, Solvability, Firm Value