PENGARUH PROFITABILITAS, GROWTH OPPORTUNITY, DAN STRUKTUR MODAL TERHADAP NILAI PERUSAHAAN

Abstract

This research provides empirical evidence on the impact of profitability, growth opportunities, and capital structure on firm value. The firm value, which was a dependent variable, was measured by Price to Book Value (PBV). In contrast, the independent variables, such as profitability, growth opportunity, and capital structure, were measured by Return on Equity (ROE), asset growth, and Debt to Equity Ratio (DER). The study population consisted of all infrastructure companies listed on the Indonesia Stock Exchange between 2019 and 2023, a total of 65 companies. Using purposive sampling, a sample of 48 companies was obtained. The data collection technique used was purposive sampling. Moreover, the data were secondary, in the form of annual reports and financial reports that were listed on IDX during 2019-2023 and had been audited. The research applies quantitatively with multiple linear regression as an analysis technique used was multiple linear regression. The result shows that profitability does not affect firm value. However, both growth opportunity and capital structure have a positive effect on the firm value of manufacturing companies listed on IDX 2019-2023.