PENGARUH PROFITABILITAS, LIKUIDITAS DAN UKURAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA (BEI) PERIODE 2019-2023
DOI:
https://doi.org/10.31539/costing.v7i6.13521Keywords:
Profitabilitas, Likuiditas, Ukuran Perusahaan, Nilai PerusahaanAbstract
Tujuan dari penelitian ini adalah untuk menganalisis perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia dari tahun 2019 hingga 2023 dan mengetahui bagaimana profitabilitas (ROA), likuiditas (CR), dan ukuran perusahaan (SIZE) mempengaruhi nilai perusahaan (PBV). Sebanyak 65 perusahaan manufaktur disurvei untuk penelitian ini dengan menggunakan teknik purposive sampling. Untuk menguji hipotesis, peneliti menggunakan analisis regresi linier berganda. Menurut temuan, nilai perusahaan dipengaruhi secara positif oleh profitabilitas dan dipengaruhi secara negatif oleh likuiditas. Penelitian ini tidak menemukan hubungan yang signifikan antara ukuran perusahaan dan nilai perusahaan. Menurut hasil ini, peningkatan efisiensi operasional dapat menyebabkan peningkatan nilai perusahaan. Di sisi lain, manajemen perlu berhati-hati tentang struktur modal yang mereka pilih sehingga nilainya tidak turun karena terlalu banyak likuiditas
References
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Malik, A., & Ismiyanti, F. (2024). Internal Factors Affecting Firm Value (Case Study of Manufacturing Companies in Indonesia). International Journal of Current Science Research and Review, 07(04), 2245–2257. https://doi.org/10.47191/ijcsrr/v7-i4-28
Markonah, M., Salim, A., & Franciska, J. (2020). Effect of Profitability, Leverage, and Liquidity To the Firm Value. Dinasti International Journal of Economics, Finance & Accounting, 1(1), 83–94. https://doi.org/10.38035/dijefa.v1i1.225
Muflikhah, I., & Luhgiatno, L. (2023). Pengaruh Profitabilitas, Likuiditas Dan Ukuran Perusahaan Terhadap Nilai Perusahaan (Studi Kasus Pada Perusahaan Manufaktur Sektor Aneka Industri Yang Terdaftar Di Bursa Efek Indonesia Periode 2019-2022). Jurnal Ilmiah Fokus Ekonomi, Manajemen, Bisnis & Akuntansi (EMBA), 2(03), 302–311. https://doi.org/10.34152/emba.v2i03.865
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Sahputra, R., Saputra, M., & Maryasih, L. (2024). Company Growth, Company Size, Capital Structure and Profitability on Company Value in IDX-Listed Manufacturing Companies. Devotion : Journal of Research and Community Service, 5(5), 570–580. https://doi.org/10.59188/devotion.v5i5.725
Serlindawati, ., & Chairunisa, M. (2024). The Effect of Dividend Policy, Liquidity and Profitability on Company Value. Asian Journal of Economics, Business and Accounting, 24(5), 469–475. https://doi.org/10.9734/ajeba/2024/v24i51323
Shah, D. N. K. (2020). Financial Statement Analysis Through Ratio Analysis of Selected Pharmaceutical Companies. GAP INTERDISCIPLINARITIES - A GLOBAL JOURNAL OF INTERDISCIPLINARY STUDIES, 3(4), 321–331. https://doi.org/10.47968/gapin.340046
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Anggraini Namira Agustin, Maulana Yusuf, & Ahmad Syahrizal. (2023). Pengaruh Profitabilitas Dan Likuiditas Terhadap Nilai Perusahaan Yang Terdaftar Di Jakarta Islamic Index (Jii) Periode 2017 – 2021. MUQADDIMAH: Jurnal Ekonomi, Manajemen, Akuntansi Dan Bisnis, 1(2), 147–164. https://doi.org/10.59246/muqaddimah.v1i2.207
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Benedicto, Kulwizira, L. (2023). Relative Enterprise Valuation. Classroom companion. Classroom companion: business,. https://doi.org/doi: 10.1007/978-3-031-28267-6_21
Dang, H. N., Vu, V. T. T., Ngo, X. T., & Hoang, H. T. V. (2019). tudy the Impact of Growth, Firm Size, Capital Structure, and Profitability on Enterprise Value:Evidence of Enterprises in Vietnam. Journal of Corporate Accounting & Finance, 30(1), 144–160(30(1)). https://doi.org/https://doi.org/10.1002/jcaf.22371
Dewi, F. H. dan S. P. (2021). Pengaruh Profitabilitas, Leverage Dan Ukuran Perusahaan Terhadap Nilai Perusahaan. Jurnal Multiparadigma Akuntansi, Volume III(1), 137-145 137. https://doi.org/10.34209/.v18i1.456
Dita Yuliyanti, et, A. (2024). The company ’ s value is influenced by profitability and liquidity. International Journal of Applied Finance and Business Studies Journal Homepage: Www.Ijafibs.Pelnus.Ac.Id, 11(4), 899–905.
Fernos, J. (2017). ANALISIS RASIO PROFITABILITAS UNTUK MENGUKUR KINERJA (Studi Kasus Pada PT. Bank Pembangunan Daerah Provinsi Sumatera Barat). Jurnal Pundi, 1(2), 107–118. https://doi.org/10.31575/jp.v1i2.25
Ghozali, I. (2018). Aplikasi Analisis Multivariate dengan Program IBM SPSS. 25. Badan Penerbit Universitas Diponegoro: Semarang.
Gunawan, R., Widiyanti, M., Malinda, S., & Adam, M. (2022). the Effect of Current Ratio, Total Asset Turnover, Debt To Asset Ratio, and Debt To Equity Ratio on Return on Assets in Plantation Sub-Sector Companies Listed on the Indonesia Stock Exchange. International Journal of Economic, Business, Accounting, Agriculture Management and Sharia Administration (IJEBAS), 2(1), 19–28. https://doi.org/10.54443/ijebas.v2i1.139
Hafiz, M. (2022). The Effect of Profitability and Corporate Size on Company Value with Good Corporate Governance as a Moderating Variable in Manufacturing Companies. Journal of Economics, Finance And Management Studies, 05(02), 393–398. https://doi.org/10.47191/jefms/v5-i2-17
Hasanudin, & Nurma Wijareni. (2023). The Effect of Capital Structure, Liquidity, and Firm Size on Company Value with Profitability as an Interverning Variable. JMKSP (Jurnal Manajemen, Kepemimpinan, Dan Supervisi Pendidikan), 8(1), 461–473. https://doi.org/10.31851/jmksp.v8i1.12627
Hastuti, R. T., & Tertia, J. C. (2023). Profitability and Leverage Effect on Firm Value with Corporate Social Responsibility as Moderating Variable in Manufacturing Company. International Journal of Application on Economics and Business, 1(1), 88–97. https://doi.org/10.24912/v1i1.88-97
Hermuningsih, S. (2013). Pengaruh Profitabilitas, Growth opportunity, sruktur Modal terhadaP nilai Perusahaan Pada Perusahaan Publik di indonesia. Buletin Ekonomi Moneter Dan Perbankan, 18(1), 38–46. https://doi.org/10.1177/027046769801800106
Hery. (2017). Kajian Riset Akuntansi: Mengulas Berbagai Hasil Penelitian Terkini dalam Bidang Akuntansi dan Keuangan. Jakarta.
Huanency, A., & Wijaya, H. (2023). FACTORS AFFECTING FIRM VALUE THROUGH CAPITAL STRUCTURE AS A MEDIATION VARIABLE. 1(2), 123–138.
Irham, F. (2014). Manajemen keuangan perusahaan : Dan pasar modal (1st ed.).
Iskak, L. wijaya dan jamalaudin. (2024). FAKTOR YANG MEMPENGARUHI NILAI PERUSAHAAN TERHADAP PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BEI. VI(2), 590–600.
Jocelyn, G. (2023). Siswoyo dan Yanti : Faktor-Faktor yang Mempengaruhi Firm Value dengan Managerial ... V(1), 204–215.
Kasmir. (2014). Analisis Laporan Keuangan. Jakarta : Raja Grafindo Persada.
Lestari, F., & Sabila, H. (2022). Analisis Laporan Keuangan Secara Historis dan Forecasting (Studi Kasus Pada PT TDI Periode 2017-2020). Jurnal Bisnisman: Riset Bisnis Dan Manajemen, 1(2), 28–38. http://bisnisman.nusaputra.ac.id
Lestari, K. A. N. S., Lestari, E. P., & Astuty, S. (2024). The Influence of The Principles of Good Corporate Governance, Corporate Social Responsibility, and Financial Literacy on The Financial Performance of Village Credit Institutions In The Negara District of Jembrana. International Journal of Applied Business and International Management, 9(1), 62–74. https://doi.org/10.32535/ijabim.v9i1.2915
Lestusen, I. M., Wutres, K., Tuarissa, R. N., Pinontoan, F. A., & Kahaela, F. (2023). Pentingnya Analisis Keungan Dalam Pengambilan Keputusan Infestasi. IJEN: Indonesian Journal of Economy and Education Economy, 1(2), 94–101. https://doi.org/10.61214/ijen.v1i2.145
Malik, A., & Ismiyanti, F. (2024). Internal Factors Affecting Firm Value (Case Study of Manufacturing Companies in Indonesia). International Journal of Current Science Research and Review, 07(04), 2245–2257. https://doi.org/10.47191/ijcsrr/v7-i4-28
Markonah, M., Salim, A., & Franciska, J. (2020). Effect of Profitability, Leverage, and Liquidity To the Firm Value. Dinasti International Journal of Economics, Finance & Accounting, 1(1), 83–94. https://doi.org/10.38035/dijefa.v1i1.225
Muflikhah, I., & Luhgiatno, L. (2023). Pengaruh Profitabilitas, Likuiditas Dan Ukuran Perusahaan Terhadap Nilai Perusahaan (Studi Kasus Pada Perusahaan Manufaktur Sektor Aneka Industri Yang Terdaftar Di Bursa Efek Indonesia Periode 2019-2022). Jurnal Ilmiah Fokus Ekonomi, Manajemen, Bisnis & Akuntansi (EMBA), 2(03), 302–311. https://doi.org/10.34152/emba.v2i03.865
Nasution, M. A., Ginting, L. D. P., Fitri, A., & Safitri, N. (2023). Analysis of Financial Statements to Measure the Financial Performance of PT. Unilever Indonesia Tbk. Period 2020-2022. Asian Journal of Management Analytics, 2(2), 157–170. https://doi.org/10.55927/ajma.v2i2.3896
Nayaki, D. N. K. (2024). A Study on Financial Statement Analysis of Steel Authority of India. International Journal For Multidisciplinary Research, 6(3), 1–7. https://doi.org/10.36948/ijfmr.2024.v06i03.20952
Ngurah, I. G., Gunadi, B., Putra, I. G. C., Ayu, I., & Manuari, R. (2024). Company Valuation and Influencing Factors : A Study of Automotive and Component Manufacturers Listed on the Indonesia Stock Exchange. 7(2), 1–14.
Ni, Putu, Yeni, Astiti., I, Gusti, Ayu, I. (2022). Pengaruh Struktur Modal, Profitabilitas dan Modal Intelektual terhadap Nilai Perusahaan di Perusahaan Manufaktur. Jurnal internasional penelitian dan analisis multidisiplin. https://doi.org/05(12) doi: 10.47191/ijmra/v5-i12-19
Paramitha, P. indah, & Febriansyah, E. (2023). The Influence Of Profitability, Liquidity, Solvency, Activities, And Company Size On Company Value (Empirical Study of Food and Beverage Manufacturing Companies Listed on the Indonesia Stock Exchange in 2019-2021). Jurnal Ekonomi, Manajemen, Bisnis Dan Akuntansi Review, 3(1), 173–188. https://doi.org/10.53697/emba.v3i1.1275
Przepiorka, W., & Berger, J. (2017). Signaling Theory Evolving: Signals and Signs of Trustworthiness in Social Exchange. Social Dilemmas, Institutions, and the Evolution of Cooperation, 373–392.
Purwanti, T. (2020). The Effect of Profitability, Capital Structure, Company Size, and Dividend Policy on Company Value on the Indonesia Stock Exchange. International Journal of Seocology, 01(02), 060–066. https://doi.org/10.29040/seocology.v1i02.9
Putra, A. N. D. A., & Lestari, P. V. (2016). 253133-Pengaruh-Kebijakan-Dividen-Likuiditas-Pr-3Fa88Dfa. Akuntansi, 5(7), 4044–4070.
Riyanto, B. (2013). Dasar-Dasar Pembelanjaan Perusahaan (edisi 4). Yogyakarta: BPFE.
Roshy, H. K., Roslina, N. Y., Kumalasari, R. E., & Sholihah, S. (2022). PENGARUH PROFITABILITAS DAN KEBIJAKAN DEVIDEN TERHADAP NILAI SUATU PERUSAHAAN YANG BERGERAK DI BIDANG FARMASI (PERIODE 2012 s.d 2019). Accounting and Management Journal, 2(2), 226–234.
Sahputra, R., Saputra, M., & Maryasih, L. (2024). Company Growth, Company Size, Capital Structure and Profitability on Company Value in IDX-Listed Manufacturing Companies. Devotion : Journal of Research and Community Service, 5(5), 570–580. https://doi.org/10.59188/devotion.v5i5.725
Serlindawati, ., & Chairunisa, M. (2024). The Effect of Dividend Policy, Liquidity and Profitability on Company Value. Asian Journal of Economics, Business and Accounting, 24(5), 469–475. https://doi.org/10.9734/ajeba/2024/v24i51323
Shah, D. N. K. (2020). Financial Statement Analysis Through Ratio Analysis of Selected Pharmaceutical Companies. GAP INTERDISCIPLINARITIES - A GLOBAL JOURNAL OF INTERDISCIPLINARY STUDIES, 3(4), 321–331. https://doi.org/10.47968/gapin.340046
Sintarini, R. El, & Djawoto. (2018). Pengaruh Profitabilitas, Likuiditas, Solvabilitas, dan Aktivitas terhadap Nilai Perusahaan Farmasi di BEI. Jurnal Ilmu Dan Riset Manajemen, 7(7), 1–17.
Stewart C. Myers, N. S. M. (1984). Corporate financing and investment decisions when firms have information that investors do not have,. Journal of Financial Economics, 13(2), 187–221. https://doi.org/https://doi.org/10.1016/0304-405X(84)90023-0.
Sukmawardini, D., & Ardiansari, A. (2018). The Influence of Institutional Ownership, Profitability, Liquidity, Dividend Policy, Debt Policy on Firm Value. Management Analysis Journal, 7(2), 211–222. http://maj.unnes.ac.id
Suwardika, I. N. A., & Mustanda, I. K. (2017). Hartono dkk 2016. E-Jurnal Manajemen Unud, 6(3), 1248–1277.
Thoha, M. N. F., & Hairunnisa, L. (2022). Pengaruh Profitabilitas, Solvabilitas, Likuiditas dan Aktivitas terhadap Nilai Perusahaan pada Perusahaan Manufaktur Sub Sektor Makanan dan Minuman yang Terdaftar di Bursa Efek Indonesia Periode 2016-2020. International Journal of Social and Management Studies (Ijosmas), 3(4), 94–104. http://www.ijosmas.org
Widiarta, J. R., & Dermawan, E. S. (2023). the Effect of Profitability, Firm Size, and Capital Structure on Firm Value in Manufacturing Companies. International Journal of Application on Economics and Business, 1(4), 2315–2325. https://doi.org/10.24912/ijaeb.v1i4.2315-2325
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2024-12-10
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