PENGARUH KINERJA KEUANGAN DAN STRUKTUR MODAL TERHADAP NILAI PERUSAHAAN

Abstract

This research aimed to examine and analyze the effect of financial performance measured by profitability, liquidity, leverage, and capital structure on the firm value. Furthermore, the population of this research used transportation companies listed on IDX. Based on the purposive sampling method it obtained 30 samples from 6 transportation companies listed on IDX during 2014-2018 periods. The analysis method of this research used multiple linear regression analysis. The result of this research showed that (1) Profitability had a positive effect on the firm value, because the higher the ROA showed a good performance of the company, (2) Liquidity did not have any effect on the firm value, therefore the liquidity used as a consideration by the external party was examined by the company and it also had a negative effect on the changing of the company’s stock price, (3) Leverage did not have any effect on the firm value, because the leverage fluctuation did not use as the examining factor for the investors, (4) The capital structure did have any effect on the firm value, because with a high debt it was able to have a high firm value if the market value equity was also high.
Keywords: financial performance, capital structure, and firm value