PENGARUH STRUKTUR MODAL, PROFITABILITAS DAN UKURAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN FARMASI YANG TERDAFTAR DI BEI

Abstract

This research aimed to find out the effect of capital structure, profitability and firm size on firm value of
phannaceutical companies which were listed on Indonesia Stock Exchange during 2016-2019. While capital
structure was referred to Debt to Equity Ratio (DER), profitability was referred to Return On Equity (ROE),
firm size was reforred to Firm Size and firm value was reforred to Price to Book Value (PBV). The research was
quantitative. Moreover, there were 8 from 11 pharmaceutical companies as the sample. Furthermore, the data
were secondary which in the form of companies' financial statements. Additionally, the data collection technique
used purposive sampling. In addition, the data analysis technique used linear regression with SPSS 21. From
hypothesis test (t-test), it concluded that capital structure had a negative and significant effect on firm value. On
the other hand, profitability had a positive but insignificant effect on firm value. In contrast, firm size had a
positive and significant effect on firm value.
Keywords: capital structure, profitability, firm size, firm value