PENGARUH STRUKTUR MODAL, UKURAN PERUSAHAAN DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN

Abstract

The main objectives of a company is to maximize firm value. Firm value reflects the company performance which can influence the perception of the investors to the company which is commonly correlated to stock price. When the stock price is getting high the firm value is getting high as well. Firm value can give prosperity to the stockholder maximally when the stock price increases. This research is aimed to find out the influence of Debt to Asset Ratio, Debt to Equity Ratio, Firm Size, Return on Asset, Return On Equity, and Net Profit Margin to the firm value. The research sample applies consumer goods companies which are listed in Indonesia Stock Exchange in 2014-2016 periods. The numbers of research samples are 27 comsumer goods companies in which these companies have been selected by using purposive sampling. The data analysis has been done by using multiple regressions test analysis which is preceded by classic assumption test which consists of normality test, multicolinearity test, heteroscedasticity test, and autocorrelation test. The hypothesis test has been conducted by using F test and t test. The result of the research shows that Debt to Asset Ratio and Net Profit Margin give negative and significant influence to the firm value. Meanwhile, Debt to Equity Ratio, Firm size, Return on Assets and Return on Equity give positive and significant to the firm value.
Keywords: Firm value, Debt to Asset Ratio, Debt to Equity Ratio, Firm size, Return on Asset