PENGARUH KINERJA LINGKUNGAN, KINERJA KEUANGAN DAN STRUKTUR MODAL TERHADAP NILAI PERUSAHAAN

Abstract

This research determines the effect of the environment's performance, financial performance, and capital structure on firm value. The environment’s performance was measured by PROPER, financial performance was measured by Return On Asset (ROA),capital structure was measured by Debt to Assets Ratio (DAR), and firm value was measured by Tobin’s Q. The research applies quantitatively. Furthermore, the population was mining companies listed on the Indonesia Stock Exchange (IDX) during 2019-2023  The data were secondary, in the form of annual statements. The sampling technique used was purposive sampling, with 60 data samples from 12 companies taken. Moreover, the data analysis technique used multiple linear regression. The result shows that the environment’s performance has a negative effect on firm value. It is caused by a high cost of the environment's performance, and the environmental aspects, which have not been optimally recognized as a primary consideration in investment decisions in the mining sector. However, the financial performance has a positive effect on firm value, reflecting the company’s financial efficiency in producing profit from its assets. Similarly, the capital structure has a positive effect on firm value and shows that companies are able to manage liabilities optimally so that it can increase the company’s value.