PENGARUH LEVERAGE, AKTIVITAS, DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BEI

Abstract

The aim of building company is to get some profits in order to maximize the firm value. At this point, the value reflects company perfomance which affects investors perception on the firm value. While, company financial statement, with its financial ratio analysis, is used to analyze its performance. This research aimed to examine the effect of leverage (DER), activity (TATO), profitability (ROE) on the firm value (PBV). The population was manufacturing companies which were listed on Indonesia Stock Exchange 2013-2017. Moreover, the data collection technique used purposive sampling, in which the sample was taken based on criteria given. In line with, there were 15 companies as sample. In addition, the data analysis technique used multiple linier regression. The research result concluded leverage had nagative but insignificant effect on the firm value (PBV). On the other hand, activity (TATO) and profitability (ROE) had positif and significant effect on the firm value (PBV), in brief, the firm value could be affacted by activity and pofitability. Furthermore, the manufacturing companies had to consider and maintain its laverage in order to have better company perfomance prospect.
Keywords: firm value, leverage, activity, profitability