PENGARUH STRUKTUR MODAL, PROFITABILITAS, PERTUMBUHAN PERUSAHAAN, DAN UKURAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN MANUFAKTUR

Abstract

This research aimed to give empirical evidence of the effect of capital structure. profitability, firm growth, and firm size on firm value. While one of the companies objective is to get a profit target and maximize its value on stock price according to companies’ performance. Therefore, companies are expected to survive from strong competition. The research was quantitative. Moreover, there were 291 samples: 66 samples in 20 16, 71 samples in 2017, 69 samples in 2018 and 85 samples in 2019. Furthermore, the data analysis technique used multiple linear regression. The research result concluded that capital structure did not affect firm value. It meant, the companies’ policy did not affect investors’ evaluation on firm value. On the other hand, profitability had a positive effect on firm value. The bigger the profit was, the higher the companies’ performance in paying dividend would be. As a result, the value increased. In contrast, companies’ growth had a negative effect on firm value. This meant, there was no bigger effect of its growth into investors’ evaluation on firm value. Meanwhile, firm size had a positive effect on firm value. The higher the companies’ size was, the easier the company got its internal and external funds.
Keywords: capital structure, profitability, firm growth, firm size