PENGARUH PROFITABILITAS, LIKUIDITAS DAN KEPUTUSAN INVESTASI TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN SUB SEKTOR FARMASI YANG TERDAFTAR DI BEI

Abstract

This research aimed to analyze the effect of profitability, liquidity, and investment decision on the firm value at pharmaceutical sub-sector companies listed on the Indonesia Stock Exchange in the 2015-2020 period. Furthermore, the independent variables of this research used profitability proxy with Return on Asset, Liquidity was proxy with Current Ratio, and investment decision was proxy with Total Asset Growth. Furthermore, the dependent variable of this research used a firm value proxy with Price to Book Value. This research was quantitative with a causal-comparative approach to observe the cause and effect correlations among the variables. Meanwhile, the research sample collection technique used purposive sampling i.e., research with tested determined criteria. Based on the purposive sampling method it obtained 60 samples from 10 pharmaceutical companies listed on Indonesia Stock Exchange during the 2015-2020 periods. Moreover, the analysis method of this research used multiple linear regressions with SPSS 26 version. The research result found that profitability (ROA) had positively affected the firm value, liquidity (CR) had positively affected the firm value, and investment decision (TAG) had positively affected the firm value.
Keywords: profitability, liquidity, investment decision, firm value