THE EFFECT OF LIQUIDITY AND WORKING CAPITAL ON CORPORATE VALUES WITH PROFITABILITY AS MODERATING VARIABLES IN MANUFACTURING COMPANIES LISTED ON IDX
DOI:
https://doi.org/10.38035/dijefa.v1i1.199Keywords:
Liquidity, Working Capital, Company Value, Profitability.Abstract
This study aims to examine and analyze the effect of Liquidity (X1) and Working Capital (X2) on Company Value (Y) with Profitability (Z) as a moderating variable. The study was conducted on manufacturing companies listed on the Indonesia Stock Exchange with a research period of 2014-2018. The sample selection method used is porpusive sampling and obtained as many as 22 manufacturing companies as samples with 110 observations. Based on the partial test results there is a significant effect between liquidity on firm value, there is no influence between working capital on firm value. Liquidity and working capital together have a significant effect on firm value. Profitability is not able to moderate liquidity to the value of the company. Profitability is able to moderate working capital to the value of the company. Simultaneously liquidity and working capital have a significant effect on firm value. The contribution of the independent variable that is liquidity and working capital in influencing the dependent variable that is the value of the company is 87.23%.
References
Agusentoso Randhy. 2017. Pengaruh Struktur Modal, Perputaran Modal Kerja dan Profitabilitas Terhadap Nilai Perusahaan (PBV) Studi Kasus Perusahaan Pertambangan Dan Energi di BEI. Vol 1 no 4.
Arfan, dkk. (2016). Analisa Laporan Keuangan. Cetakan Pertama. Medan: Penerbit Madenatera
Effendi, Muh. Arief. 2016. The Power Of Corporate Governance: Teori dan Implementasi. Jakarta: Salemba Empat.
Fatahillah, Hidayati. 2015. Pengaruh Efisiensi Modal Kerja, Likuiditas, Aktifitas dan Solvabilitas Terhadap Profitabilitas Pada Perusahaan Manufaktur di BEI. Skripsi: S1 Fakultas Ekonomi UNISMA, Malang
Hery. 2016. Analisis Laporan Keuangan. Jakarta : Grasindo
Indriyani, Eka. 2017. Pengaruh Ukuran Perusahaan dan Profitabilitas Terhadap Nilai Perusahaan. Akuntabilitas: Jurnal Ilmu Akuntansi Volume 10 (2), Oktober 2017 P-ISSN: 1979-858X; E-ISSN: 2461-1190 Page 333 – 348.
Indriyani Ayu, Paramita Patricia Dhiana. 2018. Pengaruh Perputaran Modal Kerja Dan Net Profit Margin (NPM) Terhadap Nilai Perusahaan Dengan Profitabilitas Sebagai Variabel Moderating Pada Perusahaan Farmasi Yang Terdaftar Di Bursa Efek Indonesia Periode 2012-2016: Journal Off Accounting Universitas Pandanaran Semarang
Irham Fahmi. 2016. Pengantar Manajemen Keuangan, Cetakan kelima, Alfabeta, Bandung
Kasmir. 2015. Analisis Laporan Keuangan. Jakarta: Rajawali Pers
Lawrence J. Gitman and Chad J. Zutter. 2015. Principle Of Managerial Finance, Fourteenth Edition. Singapore: Pearson Education
Putra, AA Ngurah dharma adi, lestari, putu vivi. 2016. Pengaruh Kebijakan Dividen, Likuiditas, Profitabilitas Dan Ukuran Perusahaan Terhadap Nilai Perusahaan. E-Jurnal Manajemen Unud
Sari dan Hidayat. 2017. Pengaruh Struktur Modal, Likuiditas terhadap Profitabilitas Perusahaan Makanan dan Minuman di BEI. Jurnal Ilmu dan Riset Manajemen. Vol. 6. No. 6. Sekolah Tinggi Ilmu Ekonomi Indonesia (STIESIA) Surabaya
Suffah, Roviqotus dan Akhmad Riduwan. 2016. Pengaruh Profitabilitas, Leverage, Ukuran Perusahaan Dan Kebijakan Dividen Pada Nilai Perusahaan. Jurnal ilmu dan riset akuntansi volume 5 nomer 2, februari 2016
Warouw, Christiana, Nangoy Sintje, Saerang Ivonne S. 2016. Pengaruh Perputaran Modal Kerja Dan Profitabilitas Terhadap Nilai Perusahaan Pada Perusahaan Farmasi Di Bursa Efek Indonesia. Jurnal Berkala Ilmiah Efisiensi Universitas Sam Ratulangi Manado, vol. 16 no. 02
Downloads
Published
How to Cite
Issue
Section
License
Authors who publish their manuscripts in this journal agree to the following conditions:
- The copyright on each article belongs to the author(s).
- The author acknowledges that the Dinasti International Journal of Economics, Finance & Accounting (DIJEFA) has the right to be the first to publish with a Creative Commons Attribution 4.0 International license (Attribution 4.0 International (CC BY 4.0).
- Authors can submit articles separately, arrange for the non-exclusive distribution of manuscripts that have been published in this journal into other versions (e.g., sent to the author's institutional repository, publication into books, etc.), by acknowledging that the manuscript has been published for the first time in the Dinasti International Journal of Economics, Finance & Accounting (DIJEFA).