PENGARUH PROFITABILITAS, STRUKTUR MODAL, DAN KEPUTUSAN INVESTASI TERHADAP NILAI PERUSAHAAN

Abstract

This research aimed and analyze the effect of profitability, capital structure, and investment decisions on the firm value of Food and Beverage companies listed on the Indonesia Stock Exchange (IDX) during 2019-2022. Moreover, the research was quantitative. The population was Food and Beverage companies listed on the Indonesia Stock Exchange (IDX). Furthermore, the data collection technique used a purposive sampling method i.e., a sample selection with determined criteria. In line with that, 26 companies were taken as samples. The data were taken for 4 years (2019-2022. In total, 103 observations data were collected. Additionally, the data were secondary in the form of financial statements and annual reports. The data analysis technique used multiple linear regressions. The result indicated that capital structure which was a proxy with DER had a negative effect on firm value. On the other hand, both profitability which was a proxy with ROE, and investment decisions which was a proxy with PER had a positive effect on the firm value. In other words, the higher the ROE value was, the higher the firm value would be. It would indicate and give a signal to the investors in investment decision-making.