PENGARUH KINERJA KEUANGAN TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN JASA TELEKOMUNIKASI

Abstract

The purpose of establishing a company is to achieve maximal profit or to give prosperity of the
stakeholder and to maximize the firm value. Firm value is very important since it reflects the
performance of the company in which it can influence the perception of investors to the company. The
performance of the company can be seen from the financial ratio analysis. This research is meant to
test the influence of liquidity ratio which is measured by using Current Ratio (CR);
solvability ratio is
measured by using Debt to Equity Ratio (DER);
activity ratio is measured by using Return on Total
Asset (ROA) to the firm value which is measured by using Price to Book Value (PBV). The sample of
this research consists of 6 telecommunication companies which are listed in Indonesia Stock Exchange
in 2009-2013 periods. The research data has been processed by using software SPSS 20, with classic
assumption test, feasibility model test, multiple linear regressions analysis and hypothesis test. The
result of this research shows that Debt to Equity Ratio (DER) and Return on Total Asset (ROA) has
significant influence to the firm value (PBV), meanwhile Current Ratio (CR) and Total Asset Turn
Over (TATO) does not have any significant influence to the firm value (PBV).

Keywords: Current Ratio, Debt to Equity Ratio, Total Asset Turn Over, Return On Total Asset, and
Price to Book Value.