PENGARUH LIKUIDITAS, PROFITABILITAS, DAN SOLVABILITAS TERHADAP NILAI PERUSAHAAN FARMASI TERDAFTAR DI BEI

Abstract

This research aimed to examine the effect of liquidity, profitability, and solvability on the firm value of pharmaceutical companies listed on the Indonesia Stock Exchange during 2016-2020. The independent variables were liquidity, which was referred to as the Current Ratio (CR), profitability, which was referred to as Return On Equity (ROE), and Solvability, which was referred to as the Debt to Equity Ratio (DER). Meanwhile, the dependent variable was firm value, which was referred to as Price to Book Value (PBV). The population was 11 pharmaceutical companies listed on the Indonesia Stock Exchange during 2016-2020. Furthermore, the data collection technique used porposive sampling. In line with that, there were 5 samples of companies. The data analysis technique used multiple linear regression with SPSS (Statistical Product and Service Solution) 26. The result concluded that liquidity had a positive but insignificant effect on firm value. Likewise, solvability had a positive but insignificant effect on firm value. On the other hand, profitability had a significant positive effect on firm value.