ANALYSIS OF THE EFFECTS OF LIQUIDITY, ACTIVITIES, LEVERAGE, AND PROFITABILITY ON FIRM VALUE IN RETAIL TRADE SUBSECTOR (IDX) 2015-2020 PERIOD
DOI:
https://doi.org/10.31933/dijdbm.v3i1.1078Keywords:
Liquidity (CR), Activity (TATO), Leverage (DER), Firm Value (PBV)Abstract
This research intends to determine the effect of liquidity, activity, leverage, and profitability on company value. The population of this research is the entire IDX retail trade subsector in 2015-2020 as many as 25 companies and the number of samples is 14 companies. The data analysis method used in the research is Panel Data Regression and the best model is the Random Effect Model. The results of the research partially found that liquidity (CR), activity (TATO), and leverage (DER) did not affect PBV, while profitability (NPM) had a positive effect on PBV. The research results simultaneously found that liquidity (CR), activity (TATO), leverage (DER), and profitability (NPM) had an impact on PBV.
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Anggraini, S. (2020). Analysis of the Effect of Profitability on Liquidity, Leverage and Activities Company Towards the Value of the Company in the Company Mining Sector on the Indonesia Stock Exchange (IDX) for the 2015–2018 period. Journal of Management and Organization, 9 (11), 1-11.
Artati, D. (2020). Effect of Return on Assets, Size and Current Ratio on Firm Value. JBMA, 7(1), 111-131.
Astohar., AMS, D., & Rahmadhani. S. (2020). The Influence of Internal and External Factors on Returns of Go Public Banking Stocks Listed on the Indonesia Stock Exchange in 2014- 2019. Journal of Among Makati, 13 (2), 1-12. DOI: 10.52353/ama.v13i2.193.
Carstens, R. & Wesson, N. (2019). The Impact of South African Real Estate Investment Trust Legislation on Firm Growth and Firm Value. South African Journal of Economic and Management Sciences, 22(1), 1-8. DOI:10.4102/sajems.v22i1.2257.
Fahmi, Irham. (2017). Financial Statement Analysis. Alphabet. Bandung.
Harahap, M., Erlina., & Daulay, M. (2019). The Influence of Capital Structure, Profitability, Liquidity, Ownership Structure, and Firm Size on Firm Value. International Journal of Research and Review, 6(2), 92-105.
Harry. (2016). Financial Ratios for Business. PT. Grasindo. Jakarta.
Hung, DN, Cuong, PD, & Ha, VTB (2018). Effects of financial statements information on firms' value: evidence from Vietnamese listed firms. Investment Management and Financial Innovations, 15(4), 210-218. DOI:10.21511/imfi.15(4).2018.17.
Ibrahim, M. (2017). Capital Structure and Firm Value in Nigerian Listed Manufacturing Companies: an Empirical Investigation Using Tobin's Q Model. International Journal of Innovative Research in Social Sciences & Strategic Management Techniques (IJIRSSSMT), 4(2), 112-125.
Jensen, MC & Meckling, WH (1976). Theory of the firm: Managerial behavior, agency cost and ownership structure. Journal of Financial Economics, 3(4), 305- 360. DOI: 10.1016/0304-405X(76)90026-X.
Kalbuana, N., Yohana., Agustina., & Aryadi., RC (2020). Effect of Audit Quality, Tax Avoidance, Leverage and Presentation of Other Comprehensive Income on Firm's Value in Jakarta Islamic Index Company. Journal of Islamic Economics Perspectives. 2(1), 1- 11.
Lubis, IL, Sinaga, BM, & Sasongko, H. (2017). Effect of Profitability, Capital Structure and Liquidity on Firm Value. Journal of Business and Management Applications, 3 (3), 458- 465. DOI:10.17358/jabm.3.3.458.
Makkulau, A., Amin, F., & Hakim, A. (2018). Effect of Capital Structure on Firm Value with Profitability as an Intervening Variable in Property and Real Estate Companies listed on the Indonesia Stock Exchange. Sigma: Journal of Economics and Business, 1(2), 67–74.
Mandey, SR, Pangemanan, SS, & Pangerapan, S. (2017). Analysis of the Effect of Insider Ownership, Leverage and Profitability on Company Value in the Manufacturing Company Sector on the Indonesia Stock Exchange for the Period of 2013-2015. EMBA Journal, 5(2), 1463–1473.
Maneerattanarungrot, C. & Donkwa, K. (2018). Capital Structure Affecting Firm Value in Thailand. ABAC Journal 38 (2), 133-146.
Mohammed, ZO & Ani, MKA (2019). The Effect of Intangible Assets, Financial Performance and Financial Policies on the Firm Value: Evidence from Omani Industrial Sector. Contemporary Economics, 4 (3), 379-391. DOI:10.5709/ce.1897-9254411.
Ningsih, S. & Sari, SP (2019). Analysis of The Effect of Liquidity Ratios, Solvability Ratios and Profitability Ratios on Firm Value in Go Public Companies in The Automotive and Component Sectors. International Journal of Economics, Business and Accounting Research (IJEBAR), 3 (4), 351-359 .
Oktrima, B. (2017). The Effect of Profitability, Liquidity and Capital Structure on Firm Value (Empirical Study: PT. Mayora Indah, Tbk. 2011–2015). Journal of Securities (Stocks, Economics, Finance and Investment), 1 (1), 98-107. DOI:10.32493/skt.v1i1.622.
Safitri, N. (2021). The Effect of Financial Performance on Firm Value.Journal of Accounting Science and Research, 10 (2), 1-18 .
Seno, HB & Thamrin, H. (2020). Analysis of Financial Performance Towards Firm Value (Case Study at Building Construction Sub Sectors on IDX During Period of 2012–2018). Journal of Accounting and Finance Management, 1 (2), 209-218. DOI:10.38035/jafm.v1i2.27.
Sihombing, Pardomuan. (2018). Corporate Financial Management. PT. IPB Publisher Pres. Bogor.
Suwardika, INA & Mustanda, IK (2017). The Effect of Leverage, Company Size, Company Growth, and Profitability on Firm Value in Property Companies. E-Journal of Unud Management, 6 (3), 1248-1277.
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2021-12-25
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