PENGARUH STRUKTUR MODAL, UKURAN PERUSAHAAN DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN

Abstract

This research aimed to examine the effect of capital structure, firm size, and profitabilitas on firm value through annual financial statements which were published by Food and Beverage companies from 2017 to 2020. The research was quantitative. Moreover, the independent variables were Debt to Asset Ratio (DAR), Debt to Equity Ratio (DER), firm size (SIZE), Return on Asset (ROA), Retrun on Equity (ROE) and Net Profit Margin (NPM) on the dependent variable, namely firm value (Tobin’s Q). Futhtermore, the population was 11 Food and Beverage companies that were listed on Indonesia Stock Exchange (IDX) from 2017 – 2020. Additionally, the data collection technique used purposive sampling in which the sample was based on the criteria given. In addition, the data analysis technique used multiple linear regression with SPSS 25. The research result concluded that Debt to Asset Ratio, Firm Size and Net Profit Margin had positive but effect on firm value. On the other hand, the Debt to Equity Ratio had a negative and significant effect on firm value. In contrast, Return on Asset as well as Return on Equity had a positive and significant effect on firm value of Food and Beverage companies from 2017 – 2020.