PENGARUH PROFITABILITAS, LIKUIDITAS, DAN LEVERAGE TERHADAP NILAI PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA

Abstract

This research aimed to find out (1) the effect of profitability on the firm value; (2) the effect of liquidity on the firm value; and (3) the effect of leverage on the firm value. Profitability was measured by proxy of Return On Asset (ROA), liquidity was measured by proxy of Current Ratio (CR), and leverage was measured by proxy of Debt to Equity Ratio (DER) in the manufacturing companies listed on the Indonesia Stock Exchange.The research was quantitative. Furthermore, the data collection technique used a purposive sampling method i.e., a sample collection based on the determined criteria. In line with that, there were 208 data samples from 52 companies. Moreover, the population was manufacturing companies listed on the Indonesia Stock Exchange (IDX) during 2019-2022. The data analysis technique used multiple linear regressions. The result indicated that profitability had a positive effect on the firm value which was measured by proxy of Return On Asset (ROA). However, liquidity did not positively affect the firm value which was measured by proxy of Current Ratio (CR). Likewise, leverage did not positively affect the firm value which was measured by proxy of Debt Equity Ratio (DER).