PENGARUH KEPUTUSAN INVESTASI, PROFITABILITAS, DAN STRUKTUR MODAL TERHADAP NILAI PERUSAHAAN
DOI:
https://doi.org/10.31000/bvaj.v8i1.11805Keywords:
eputusan investasi, profitabilitas, struktur modal, nilai perusahaanAbstract
Penelitian ini bertujuan untuk menganalisis pengaruh keputusan investasi, profitabilitas dan struktur modal terhadap nilai perusahaan. Variabel independen yang digunakan dalam penelitian ini yaitu keputusan investasi diproksikan dengan Total Asset Growth (TAG), profitabilitas diproksikan dengan Return on Asset (ROA), dan struktur modal diproksikan dengan Debt Equity Ratio (DER). Variabel dependen yaitu nilai perusahaan diproksikan dengan Tobin's Q. Jenis penelitian kuantitatif dengan metode purposive sampling telah didapatkan sebanyak 190 sampel dari 38 perusahaan perbankan yang terdaftar di Bursa Efek Indonesia selama periode 2018-2022. Metode analisis yang digunakan adalah analisis regresi linier berganda dengan menggunakan program Eviews versi 10. Hasil penelitian menyimpulkan bahwa keputusan investasi (TAG) dan profitabilitas (ROA) berpengaruh terhadap nilai perusahaan, dan struktur modal (DER) tidak berpengaruh terhadap nilai perusahaan.
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ABSTRAC
This study aims to analyse the effect of investment decisions, profitability and capital structure on firm value. The independent variables used in this study are investment decisions proxied by Total Asset Growth (TAG), profitability proxied by Return on Asset (ROA), and capital structure proxied by Debt Equity Ratio (DER). The dependent variable, namely firm value, is proxied by Tobin's Q. This type of quantitative research with purposive sampling method has obtained 190 samples from 38 banking companies listed on the Indonesia Stock Exchange during the 2018-2022 period. The analysis method used is multiple linear regression analysis using the Eviews version 10 programme. The results concluded that investment decisions (TAG) have a positive effect on firm value, profitability (ROA) has a negative effect on firm value, and capital structure (DER) has no effect on firm value.
Keywords: investment decision, profitability, capital structure, firm value
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