PENGARUH WCT, LEVERAGE DAN ROE TERHADAP NILAI PERUSAHAAN PROPERTI DAN REAL ESTATE

Abstract

Firm value is reflected from stock price which is owned by the company. When the stock price is getting high, so that the profit of the stockholders is getting high as well as the firm value. Firm value can be influenced by several factors i.e. working capital turnover, debt to asset ratio, and return on equity. This research is meant to test the influence of working capital turnover, debt to asset ratio, and return on equity to the firm value at property and Real Estate Company which are listed in Indonesia Stock Exchange in 2010-2014 periods. The population of this research is 45 property and real estate sector companies which are listend in the IDX in 2010-2014 periods. The sample collection has been carried out by using purposive sampling method, therefore 8 property and real estate companies have been selected as samples during the observation period in 2010-2014. Data sources of this research is taken from Indonesia Stock Exchange. The analysis technique has been conducted by using multiple linear regressions analysis and the application instrument is SPSS 22 for windows.Based on the result of the analysis shows that working capital turnover has negative influence to the firm value, debt to asset ratio has positive influence to the firm value, return on equity has positive influence to the firm value.
Keywords: Working capital turnover, leverage, debt to asset ratio, return on equity, firm value.