PENGARUH STRUKTUR MODAL, PROFITABILITAS, DAN LIKUIDITAS TERHADAP NILAI PERUSAHAAN

Abstract

This research aimed to find out the effect of capital structure, profitability, and liquidity on firm value of pharmaceutical companies. While capital structure was referred to DER (Debt to Equity Ratio), profitability was referred to ROA (Return On Asset), and liquidity was referred to CR (Current Ratio). Moreover, the research was correlational research. Furthermore, the population was 12 pharmaceutical companies which were listed on IDX. In line with that, there were 9 companies taken as the sample. Additionally, the data collection technique used purposive sampling.The research data was secondary, in which the data source were in the form of documentation. In addition, the data analysis technique used multiple linear regression with SPSS 26. Meanwhile, the instrument of data analysis technique used multiple linear regression tests, classical assumption tests, model proper tests, and t-tests. From those tests, the research result concluded that capital structure (DER) had a positive but insignificant effect on firm value. On the other hand, profitability (ROA) had a negative and insignificant effect on firm value. In contrast, liquidity (CR) had a positive and significant effect on firm value.
keywords : capital structure, profitability, liquidity, firm value