PENGARUH PROFITABILITAS, STRUKTUR MODAL DAN LIKUIDITAS TERHADAP NILAI PERUSAHAAN

Abstract

This research examines the effect of profitability, capital structure, and liquidity on firm value. Profitability was measured by proxy of Return On Equity (ROE), capital structure was measured by proxy of Debt to Equity Ratio (DER), and liquidity was measured by proxy of Current Ratio (CR). The population consists of Food and Beverage companies listed on the Indonesia Stock Exchange (IDX) during 2020-2023. Furthermore, the data collection technique used purposive sampling. In line with that, there were 19 companies as the sample, The data analysis technique used multiple linear regression. The result indicates that (a) profitability has a positive effect on firm value. It means investors can consider the company's profitability when making investment decisions; (b) capital structure does not affect firm value. It shows that investors do not consider whether the company has many debts or more rely on equity in funding when making investment decisions :and (c) liquidity did not affect firm value. This makes investors lack consideration of the short-term ratio since the current ratio is more related to the internal condition of the company in fulfilling their short-term accountability.