PENGARUH PERTUMBUHAN PERUSAHAAN, LEVERAGE, DAN KEPUTUSAN INVESTASI TERHADAP NILAI PERUSAHAAN

Abstract

This research examines and obtains empirical evidence of the effect of company growth, leverage, and investment decisions on the firm value at the Food and Beverage manufacturing companies listed on the Indonesia Stock Exchange. The research applies quantitatively. The population consists of Food and Beverage manufacturing companies listed on the Indonesian Stock Exchange during 2019-2023. Furthermore, the sampling technique used was purposive sampling with criteria given. In line with that, 28 companies with 5 years of observation from 2019 to 2023 were taken as samples. Therefore, there were 140 data samples. Moreover, the data analysis technique used was multiple linear regressions. The result shows that company growth refers to Asset Growth (AG), and investment decision refers to Price to Earning Ratio (PER) have a positive effect on the firm value referred to as the Tobins’Q. Meanwhile, leverage refers to a Debt to Equity Ratio (DER) does not affect firm value. In other words, the higher the company’s growth value and investment decisions are, the higher the company’s value will be. These can be a signal for investors in investment decision-making.