PENGARUH LIKUIDITAS, PETUMBUHAN PERUSAHAAN, DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN

Abstract

The pharmaceutical industry in Indonesia is a promising sector, so the government includes the medical devise sector and pharmacy as part of the priority sector in an effort to realize the making Indonesia 4.0 program. The pharmaceutical companies are considered to be very good, effective and efficient in their management in the purpose of establishing the company to maximize the prosperity of its stakeholders through maximum firm value. This research aimed to find out the effect of liquidity, firm growth, and profitability on the firm value of pharmaceutical listed on the IDX in 2017-2021 periods. This research was qualitative with the sample collection used purposive sampling method. Furthermore, the research population was 10 pharmaceutical companies and only 6 pharmaceutical companies who met the criteria. Moreover, the research data analysis technique used multiple linear regression with the instruments of SPSS 20 software in examined the effect of liquidity, firm’s growth, and profitability on the firm value. The research result through hypothesis test with the multiple linear regression showed that the liquidity was proxy with current ratio (CR) had a positive and significant effect on the firm value. Moreover, the company’s growth did not affect the firm value. In addition, the company’s profitability was proxy with return on equity (ROE) did not affect the firm value.