Pengaruh Profitabilitas dan Struktur Modal Terhadap Nilai Perusahaan

Dian Ratnasari, Anggita Langgeng Wijaya, Richo Diana Aviyanti

Abstract


 

The purpose of this research is to find out and analyse the impact of profitability and capital structure on the value of the company. This type of research is quantitative research using secondary data obtained from financial statements and company annual reports. The population in this study is the total manufacturing companies listed on the Indonesian Stock Exchange (BEI) in 2019-2022 a total of 93 companies. Sampling in this study is using purposive sampling method so obtained observation data of as many as 372 companies. Data analysis techniques use panel data regression using eviews 12 program. The results of this research prove that profitability affects the value of the company and the capital structure affects its value.

 Keywords: Company's Value, Profitability, Stock Structure.

 


Full Text:

PDF

References


Aji, A. W., & Atun, F. F. (2019). Pengaruh Tax Planning, Profitabilitas, Dan Likuiditas Terhadap Nilai Perusahaan Dengan Ukuran Perusahaan Sebagai Variabel Moderasi (Studi Kasus Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia Tahun 2014-2018). Jurnal Ilmiah Akuntansi Dan Humanika, 20(3). https://doi.org/10.26623/slsi.v20i3.5062

Al-Nsour, O. J., & Al-Muhtadi, A. M. I. (2019). Capital Structure, Profitability and Firm’s Value: Evidence from Jordan. Research Journal of Finance and Accounting, 10(20), 73–80. https://doi.org/10.7176/RJFA/10-20-07

Arianti, B. F., & Yatiningrum, R. (2022). Pengaruh Struktur Modal , Pertumbuhan Penjualan Dan Keputusan Investasi Terhadap Nilai Perusahaan Pendahuluan. Nationally Accredited Journal, 5(1), 1–10. https://doi.org/10.32662/gaj.v5i1.1845

Basuki, A. T. (2021). Analisis Data Panel Dalam Penelitian Ekonomi Dan Bisnis (Dilengkapi Dengan Penggunaan Eviews) (Pertama). Katalog Dalam Terbitan (KDT).

Bhattarai, B. P. (2020). Determinants of Firm Value in Commercial Banks of Nepal. The International Journal Of Business and Management, 8(8), 148–155. https://doi.org/10.24940/theijbm/2020/v8/i8/BM2008-021

Bita, F. Y., Hermuningsih, S., & Maulida, A. (2021). Pengaruh Profitabilitas Likuiditas Dan Ukuran Perusahaan Terhadap Nilai Perusahaan. Jurnal Syntax Transformation, 2(3), 298–306. https://doi.org/DOI: https://doi.org/10.46799/jst.v2i3.233

Chakraborty, B., & Maruf, Y. H. (2023). Are Liduidity, Dividend Policy, Leverage, and Profitability The Determinants of frim Value : Evidence From The Listed Frims. Copernican Journal of Finance & Accounting, 12(1), 47–63. https://doi.org/http://dx.doi.org/10.12775/CJFA.2023.003

Cnnindonesia.com. (2017). Tagihan Utang Nyonya Meneer Capai RP 252 Miliar. https://www.cnnindonesia.com/ekonomi/20170904195610-92-239398/tagihan-utang-nyonya-meneer-capai-rp-252-miliar

Damayanti, N. M. E., & Darmayanti, N. P. A. (2022). Pengaruh Ukuran Perusahaan, Likuiditas, Profitabilitas, Dan Struktur Modal Terhadap Nilai Perusahaan Transportasi Dan Logistik. E-Jurnal Manajemen Universitas Udayana, 11(8), 1462. https://doi.org/10.24843/ejmunud.2022.v11.i08.p02

Dang, T. D., & Do, T. V. T. (2024). Does capital structure affect firm value in Vietnam ? Investment Management and Financial Innovations, 18(1). https://doi.org/10.21511/imfi.18(1).2021.03

Devi, S. C., & Riduwan, A. (2023). Pengaruh Profitabilitas, Leverage, dan Arus Kas Terhadap Nilai Perusahaan. Jurnal Ilmu Dan Riset Akuntansi, 12(7), 1–19. http://jurnalmahasiswa.stiesia.ac.id/index.php/jira/article/view/5372

Dewi, V. S., & Ekadjaja, A. (2020). Pengaruh Profitabilitas, Likuiditas Dan Ukuran Perusahaan Terhadap Nilai Perusahaan Pada Perusahaan Manufaktur. Jurnal Multiparadigma Akuntansi Tarumanagara, 2(1), 118–126.

Dwiastuti, D. S., & Dillak, V. J. (2019). Pengaruh Ukuran Perusahaan, Kebijakan Hutang, dan Profitabilitas Terhadap Nilai Perusahaan. Jurnal Aset (Akuntansi Riset), 11(1), 137–146. https://doi.org//10.17509/jaset.v11i1.16841

Febiyanti, T. I., & Anwar, M. (2022). Pengaruh Profitabilitas terhadap Nilai Perusahaan Dengan Kebijakan Dividen sebagai Variabel Moderasi terhadap Perusahaan Properti dan Real Estate. Al-Kharaj : Jurnal Ekonomi, Keuangan & Bisnis Syariah, 4(6), 1784–1794. https://doi.org/10.47467/alkharaj.v4i6.1090

Ghani, R. A., Samah, A. R. A. S., Bahruddin, N. S., & Ahmad, Z. (2023). Determinants of Firm Value as Measured by the Tobin ’ s Q : A Case of Malaysian Plantation Sector. International Journal of Academic Research in Accounting Finance and Management Sciences, 13(2), 420–432. https://doi.org/10.6007/IJARAFMS

Hirdinis. (2019). Capital Structure and Firm Size on Firm Value Moderated by Profitability. International Journal of Economics and Business Administration, VII(1), 174–191. https://doi.org/10.35808/ijeba/204

Hung, D. N., Cuong, P. D., & Ha, V. T. B. (2024). Effects of financial statements information on firms ’ value : evidence from Vietnamese listed firms. Investment Management and Financial Innovations, 15(4). https://doi.org/10.21511/imfi.15(4).2018.17

Irma, Puspitasari, D., Widhi Rachmawati, D., Husnatarina, F., Suriani, Evi, T., Susanto, A., Anas, M., Muliadi, S., & Citra Sari, D. (2021). Manajemen Keuangan. Nuta Media.

Jonah, A. O., & Bemshima, O. B. (2024). Capital Structure , Dividend Policy and Firm Value of Listed Non- Financial Companies in Nigeria . International Journal of Research and Innovation in Social Science (IJRISS), VIII(IV), 1279–1296. https://doi.org/10.47772/IJRISS

Liputan6.com. (2017). Kronologi Putusan Pailit Produsen Jamu Legendaris Nyonya Meneer. https://www.liputan6.com/bisnis/read/3049608/kronologi-putusan-pailit-produsen-jamu-legendaris-nyonya-meneer?page=2#google_vignette

Luu, D. H. (2021). The Impact of Capital Structure on Firm Value : A Case Study in Vietnam. Journal of Asian Finance, Economics and Business, 8(5), 287–292. https://doi.org/10.13106/jafeb.2021.vol8.no5.0287

Mangkona, S., Fadhilah, N., & Nurfan, H. M. (2023). Pengaruh Kebijakan Dividen dan Struktur Modal Terhadap Nilai Perusahaan Manufaktur di Bursa Efek Indonesia. Amsir Management Journal, 4(1), 11–21. https://doi.org/10.56341/amj.v4i1.243

Ndruru, M., Silaban, P. B., Sihaloho, J., Manurung, K. M., & Sipahutar, T. T. U. (2020). Pengaruh likuiditas, Leverage, dan Profitabilitas terhadap Nilai Perusahaan pada Perusahaan Manufaktur Tahun 2015-2017. Jurnal Ilmiah MEA (Manajemen, Ekonomi, Dan Akuntansi, 4(3), 2621–5306. https://doi.org/10.31955/mea.v4i3.403

Nguyen, L., Tan, T. K. P., & Nguyen, T. H. (2021). Determinants of Firm Value : An Empirical Study of Listed Trading Companies in Vietnam. Journal of Asian Finance, Economics and Business, 8(6), 809–817. https://doi.org/10.13106/jafeb.2021.vol8.no6.0809

Noviani, A. V., Atahau, A. D. R., & Robiyanto, R. (2019). Struktur modal, profitabilitas, dan nilai perusahaan: Efek moderasi Good Corporate Governance. Jurnal Ekonomi Dan Bisnis, 22(2), 391–415. https://doi.org/10.24914/jeb.v22i2.2601

Nugraha, N. M., Susanti, N., & Rhamadan Setiawan, M. (2021). Pengaruh Struktur Modal, Perputaran Modal Kerja, dan Ukuran Perusahaan Terhadap Nilai Perusahaan. Riset & Jurnal Akuntansi, 5(1), 208–218. https://doi.org/10.33395/owner.v5i1.383

Octavus, C., & Adiputra, I. G. (2020). Pengaruh Struktur Modal dan Ukuran Perusahaan terhadap Nilai Perusahaan Asuransi di Indonesia. Jurnal Manajerial Dan Kewirausahaan, 2(4), 873. https://doi.org/10.24912/jmk.v2i4.9866

Okezone.com. (2017). Nyonya Meneer Bangkrut di Generasi ke Tiga. https://economy.okezone.com/read/2017/08/07/320/1750939/nyonya-meneer-bangkrut-di-generasi-ketiga-kok-bisa

Puspawijaya, D. A., & Sasongko, N. (2021). Pengaruh Leverage , Profitabilitas , Kualitas Audit , Opini Auditor , Kebijakan Dividen Terhadap Nilai Perusahaan. Seminar Nasional Akuntansi Call for Paper UPN VETERAN JATIM, 1(1), 93–106.

Putri, D. A. N., Wijaya, A. L., & Murwani, J. (2023). Pengaruh Struktur Kepemilikan Saham, Struktur Modal, dan Profitabilitas terhadap Nilai Perusahaan dengan Dewan Komisaris Independen sebagai Variabel Moderasi. Seminar Inovasi Manajemen Bisnis Dan Kuntansi (SIMBA) 5, September.

Rahmadan, B. (2024). Pengaruh Profitabilitas dan Ukuran Perusahaan terhadap Nilai Perusahaan dengan Struktur Modal sebagai Variabel Intervening. Bachelor’s Thesis, Fakultas Ekonomi Dan Bisnis UIN Jakarta.

Sepa, A., Pestovic, K., Tica, N., & Sakovic, D. (2024). Key determinants of frim value : evidence from serbian listed companies. The Annals of the Faculty of Economics in Subotica. https://doi.org/10.5937/AnEkSub2400000S.Original

Setyawan, B. (2021). Pengaruh Modal Kerja Dan Profitabilitas Terhadap Nilai Perusahaan. Jurnal Bisnis Terapan, 5(1), 73–88. https://doi.org/10.24123/jbt.v5i1.4093

Spence, M. (1973). “Job Market Signaling.” The Quarterly Journal of Economics, 87(3).

Vukovic, B., Tica, T., & Jaksic, D. (2023). Firm value determinants: panel evidence from European listed companies. Strategic Management, 20(0). https://doi.org/10.5937/StraMan2300052V

Wahyuningtyas, N., Taufiq, A. R., & Sudrajad, M. A. (2023). Pengaruh Investasi dan Kinerja Keuangan terhadap Nilai Perusahaan dengan Struktur Modal sebagai Variabel Moderasi. Seminar Inovasi Manajemen Bisnis Dan Akuntansi (SIMBA) 5, September.


Refbacks

  • There are currently no refbacks.


 

 

 

 

 

 

 

Editorial Office:

Universitas PGRI Madiun

Kampus 3 Lantai 2

Fakultas Ekonomi dan Bisnis

Jl. Auri no. 14-16 Madiun