Pengaruh Profitabilitas, Leverage, Likuiditas, Ukuran, Dividen Dan Struktur Aset Terhadap Nilai Perusahaan Industri Farmasi

Article Sidebar

PDF
Issue
Vol. 5 No. 5 (2022): Fair Value: Jurnal Ilmiah Akuntansi dan Keuangan
Published: Dec 28, 2022
Keywords:
Dividend policy; The value of the company; Profitability; asset structure; company size; Effect of liquidity

Main Article Content

Muhammad Fildza Endartono
Universitas Trisakti
Hamdy Hady
Universitas Trisakti
Febria Nalurita
Universitas Trisakti

Abstract

The purpose of this study is to specify the factors that influence firm value. This study uses a sample of manufacturing companies in the pharmaceutical sub-sector listed on the Indonesian Stock Exchange (IDX) for the 2015-2020 period. The independent variables in this study include profitability, leverage, liquidity, firm size, dividend policy and asset structure. The dependent variable of this research is firm value. There are a total sample of 8 manufacturing companies in the pharmaceutical sub-sector obtained using purposive sampling technique. The conclusion of this panel data regression study is that leverage, liquidity, dividend policy and asset structure have a significant negative effect on firm value, while profitability and firm size have no effect on firm value. Companies are advised to pay attention to leverage, liquidity, dividend policy and asset structure because they have a negative effect on firm value. The results of this study are expected to provide information to companies and potential investors to pay attention to leverage, dividend policy liquidity and asset structure because they affect firm value.

Article Details

How to Cite
Endartono, M. F. ., Hady, H. ., & Nalurita , F. . (2022). Pengaruh Profitabilitas, Leverage, Likuiditas, Ukuran, Dividen Dan Struktur Aset Terhadap Nilai Perusahaan Industri Farmasi. Fair Value: Jurnal Ilmiah Akuntansi Dan Keuangan, 5(5), 2085–2093. https://doi.org/10.32670/fairvalue.v5i5.2740
Section
Articles

References

Al-Slehat, Z. A. F., Zaher, C., Fattah, A., & Box, P. O. (2020). Impact of financial leverage, size and assets structure on firm value: Evidence from industrial sector, Jordan. International Business Research, 13(1), 109–120.

Andriani, P. R., & Rudianto, D. (2019). Pengaruh Tingkat Likuiditas, Profitabilitas Dan Leverage Terhadap Nilai Perusahaan Pada Subsektor Makanan Dan Minuman Yang Tercatat Di Bei (Bei) Periode 2010-2017. Journal of Entrepreneurship, Management and Industry (JEMI), 2(1), 48–60.

Anwar, M. (2019). Dasar-Dasar Manajemen Keuangan Perusahaan. Prenada Media.

Ayuba, H., Bambale, A. J., Ibrahim, M. A., & Sulaiman, S. A. (2019). Effects of Financial Performance, Capital Structure and Firm Size on Firms’ Value of Insurance Companies in Nigeria. Journal of Finance, Accounting & Management, 10(1).

Crane, A. D., Michenaud, S., & Weston, J. P. (2016). The effect of institutional ownership on payout policy: Evidence from index thresholds. The Review of Financial Studies, 29(6), 1377–1408.

Endri, E., & Fathony, M. (2020). Determinants of firm’s value: Evidence from financial industry. Management Science Letters, 10(1), 111–120.

Faridah, N., & Kurnia, K. (2016). Pengaruh Keputusan Investasi, Pendanaan, Kebijakan Dividen, Tingkat Suku Bunga Terhadap Nilai Perusahaan. Jurnal Ilmu Dan Riset Akuntansi (JIRA), 5(2).

Franciska, A., & Putra, R. N. A. (2021). Determinan Nilai Perusahaan Pada Jakarta Islamic Index 2015-2019. JURNAL AKUNTANSI DAN KEUANGAN ISLAM, 9(2), 157–179.

Hamidah, G., & Umdiana, N. (2017). Pengaruh Profitabilitas dan Investment Opportunity Set (IOS) terhadap Nilai Perusahaan dengan Harga Saham sebagai Variabel Intervening. JAK (Jurnal Akuntansi) Kajian Ilmiah Akuntansi, 4(1).

Hasanudin, H. (2020). The effect of ownership and financial performance on firm value of oil and gas mining companies in Indonesia. 670216917.

Hirdinis, M. (2019). Capital structure and firm size on firm value moderated by profitability. International Journal of Economics and Business Administration.

Husna, A., & Satria, I. (2019). Effects of return on asset, debt to asset ratio, current ratio, firm size, and dividend payout ratio on firm value. International Journal of Economics and Financial Issues, 9(5), 50.

Indrayani, N. K., Endiana, I. D. M., & Pramesti, I. G. A. A. (2021). Pengaruh Ukuran Perusahaan, Profitabilitas, Kebijakan Dividen, Akuntansi Lingkungan, Leverage Dan Likuiditas Terhadap Nilai Perusahaan. Kumpulan Hasil Riset Mahasiswa Akuntansi (KHARISMA), 3(1).

Iswajuni, I., Manasikana, A., & Soetedjo, S. (2018). The effect of enterprise risk management (ERM) on firm value in manufacturing companies listed on Indonesian Stock Exchange year 2010-2013. Asian Journal of Accounting Research.

Marsha, N., & Murtaqi, I. (2017). The effect of financial ratios on firm value in the food and beverage sector of the IDX. Journal of Business and Management, 6(2), 214–226.

Muthoni, J., Shimelis, H., & Melis, R. (2013). Potato production in Kenya: Farming systems and production constraints. Journal of Agricultural Science, 5(5), 182.

Oktaviarni, F. (2019). Pengaruh profitabilitas, likuiditas, leverage, kebijakan dividen, dan ukuran perusahaan terhadap nilai perusahaan. Jurnal Akuntansi, 9(1), 1–16. https://doi.org/10.33369/j.akuntansi.9.1.1-16

Prasetyorini, B. F. (2013). Pengaruh ukuran perusahaan, leverage, price earning ratio dan profitabilitas terhadap nilai perusahaan. Jurnal Ilmu Manajemen, 1(1), 183–196.

Rai Prastuti, N. K., & Merta Sudiartha, I. G. (2016). Pengaruh struktur modal, kebijakan dividen, dan ukuran perusahaan terhadap nilai perusahaan pada perusahaan manufaktur. Udayana University.

Sasongko, B. (2019). The Effect of Debt Equity Ratio, Dividend Payout Ratio, and Profitability on the Firm Value. The International Journal of Business Management and Technology, 3(5), 104–109.

Setiadharma, S., & Machali, M. (2017). The effect of asset structure and firm size on firm value with capital structure as intervening variable. Journal of Business & Financial Affairs, 6(4), 1–5.

Siahaan, E., Gultom, P., & Lumbanraja, P. (2016). Improvement of employee banking performance based on competency improvement and placement working through career development (case study in Indonesia). International Business Management, 10(3), 255–261.

Suardana, I. K., Endiana, I. D. M., & Arizona, I. P. E. (2020). Pengaruh profitabilitas, kebijakan utang, kebijakan dividen, keputusan investasi, dan ukuran perusahaan terhadap nilai perusahaan. Kumpulan Hasil Riset Mahasiswa Akuntansi (KHARISMA), 2(2).

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.

Surjandari, D. A., Minanari, M., & Nurlaelawati, L. (2021). Good Corporate Governance, Leverage, Firm Size And Earning Management Evidence from Indonesia. International Journal of Commerce and Finance, 7(2), 165–183.

Thakur, R., & Workman, L. (2016). Customer portfolio management (CPM) for improved customer relationship management (CRM): Are your customers platinum, gold, silver, or bronze? Journal of Business Research, 69(10), 4095–4102.

Ukhriyawati, C. F., Ratnawati, T., & Riyadi, S. (2017). The influence of asset structure, capital structure, risk management and good corporate governance on financial performance and value of the firm through earnings and free cash flow as an intervening variable in banking companies listed in Indonesia Stock Exchange. International Journal of Business and Management;, 12(8).

Widyastuti, V., Wahono, B., & Rizal, M. (2020). Analisis Pengaruh Board of Directors, Struktur Aset, Kepemilikan Institusional, dan Kebijakan Hutang Terhadap Nilai Perusahaan (Studi Kasus Pada Perusahaan Pertambangan Yang Terdaftar Di BEI Periode 2017-2019). Jurnal Ilmiah Riset Manajemen, 9(06).