Articles

Internal Factors Affecting Firm Value (Case Study of Manufacturing Companies in Indonesia)

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Despite the pivotal role of the manufacturing sector in the Indonesian economy and its continuous growth, there exists a dearth of comprehensive research on the determinants of firm value within this sector. The lack of understanding regarding how financial factors such as leverage, liquidity, profitability, and firm size impact firm value among manufacturing companies listed on the IDX hinders effective decision-making for investors, creditors, stakeholders, and company management. This study aims to Investigate the effects of firm size, profitability, liquidity, and leverage on firm value is the main purpose of this study, which focuses on manufacturing companies listed on the Indonesia Stock Exchange (IDX). The population comprises manufacturing companies listed on the Indonesia Stock Exchange from 2018 to 2022. Using purposive sampling technique and going through the sampling criteria, a final sample of 82 companies was used in this research. The data analysis method used in this study was a regression analysis using SPSS software. The study revealed that higher debt levels (Leverage) and excessive cash reserves (Liquidity) were linked to decreased firm value. Additionally, the finding also shows that as companies became more profitable, their overall value tended to decrease. On a positive note, larger firms (Firm Size) exhibited higher company value. The findings have implications for investors, creditors, and stakeholders navigating the Indonesian manufacturing sector, providing nuanced insights into financial determinants of firm value. These findings emphasize the importance of a balanced financial strategy for companies and highlight the advantages of size in the economic landscape.

The Influencing Factors Firm Value with CSR as a Moderation Variable: A Study of Energy Companies Listed on the IDX in the Period 2014-2022

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The value of a company reflects how investors assess the company. This research aims to analyze the influence of profitability (ROA), leverage (DER), firm size, and asset turnover (TATO) as factors that influence firm value (Tobin’s Q) and uses CSR disclosure as a moderating variable. This research uses a population of energy sector companies listed on the IDX in 2014–2022, which was selected according to criteria, resulting in a research sample of 28 companies with a total of 224 observations. The type of data used is secondary data, and the hypothesis testing used is panel data regression analysis with multiple linear regression tests and interaction moderation tests with the help of R-Studio software. The research results show that profitability has a positive effect on firm value, while leverage, firm size, and asset turnover do not affect firm value. CSR disclosure is unable to moderate profitability, leverage, firm size, and asset turnover based on firm value.

The Effect of Profitability, Capital Structure and Cash Dividend on Firm Value of Public Non-Financial Companies in Indonesia During the Period Before and During the Covid-19 Pandemic (2018-2021)

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This study aims to test and prove empirically the effect of the independent variables namely profitability, capital structure and cash dividends on the dependent variable, namely firm value with liquidity and firm size as control variables. The research method used is quantitative research in the form of a correlational study using firm financial report panel data taken at www.idx.co.id. The sampling technique in this study was purposive sampling with a total sample of 116 non-financial companies listed on the Indonesia Stock Exchange for the 2018-2021 period. The data analysis method used is multiple linear regression using the eviews application. The results of the study found that profitability, cash dividends, liquidity and firm size had no effect on firm value in the period before and during the Covid-19 pandemic. Capital structure has an effect on firm value in the period before and during the Covid-19 pandemic. Adjusted R2 value shows that 64.7% of firm value can be explained by profitability, capital structure, cash dividends, liquidity and firm size, the remaining 35.3% is influenced by other variables not examined in this study.

Analysis of Changes in Food and Beverage Sector Stock Prices on the Indonesia Stock Exchange

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Stock prices on the Indonesia Stock Exchange (IDX), always fluctuate, so it is necessary to analyze any variables that affect stock prices. The purpose of this study is to analyze the factors that affect stock prices, the Food and Beverage Sector on the IDX for the period 2015 to 2019. The analysis method uses correlation, regression, t test, Anova test and multiple linear analysis with several classical assumption tests. The research population was 18 companies and the sample studied was 12 companies and data processing using SPSS Version 22.

The conclusions of the study are (a). Interest rates have no significant effect on stock prices, while firm size and earnings per share value have a significant effect on stock prices. Simultaneously, the three independent variables (Interest rate, company size and Earning per share), have a significant effect on the stock price of Food and Beverages on the Indonesia Stock Exchange.