The influence of capital structure, profitability and firn size toward firm value in property and real estate company listed in Indonesia Stock Exchange

Amelia, Christy (2021) The influence of capital structure, profitability and firn size toward firm value in property and real estate company listed in Indonesia Stock Exchange. Bachelor thesis, Universitas Pelita Harapan.

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Abstract

The objective of this study is to analyse the influence of capital structure, profitability and firm size toward firm value in property and real estate companies listed in Indonesia Stock Exchange (IDX) for the period 2017- 2019. The independent variables used in this study are capital structure, which is measured by Debt to Equity (DER), profitability measured by Return on Equity (ROE), and Firm Size measured by ln of total assets (SIZE). The dependent variable used in this study is firm value, which is measured by Price to Book Value (PBV). The data used in this research are secondary data obtained from property and real estate companies listed in IDX from 2017 to 2019. Using the purposive-sampling method, 27 property and real estate companies are chosen as samples resulting in total of 81 observations. The data analysis method used in this research is multiple linear regressions processed through Statistical Product and Service Solutions 24 (SPSS 24). The result of this study reveals that capital structure (DER) has an insignificant positive influence partially on firm value, profitability (ROE) has a significant positive partially on firm value, and firm size (SIZE) has insignificant positive influence on firm value partially. Simultaneously, the three independent variables have significant influence on financial distress. / Tujuan dari penelitian ini adalah untuk menganalisis pengaruh struktur modal, profitabilitas dan ukuran perusahaan terhadap nilai perusahaan pada perusahaan properti and real estate yang terdaftar di Bursa Efek Indonesia (BEI) untuk periode 2017-2019. Variabel independen yang digunakan dalam penelitian ini adalah struktur modal yang diukur dengan Debt to Equity Ratio (DER), profitabilitas yang diukur dengan Return on Equity (ROE), dan ukuran perusahaan yang diukur dengan ln dari total aset (SIZE). Variabel dependen yang digunakan dalam penelitian ini adalah nilai perusahaan yang diukur dengan menggunakan Price to Book Value (PBV). Data yang digunakan dalam penelitian ini adalah data sekunder yang diperoleh dari perusahaan properti dan real estate yang terdaftar di BEI dari 2017 hingga 2019. Dengan menggunakan metode purposive sampling, 27 perusahaan properti dan real estate dipilih sebagai sampel dan menghasilkan total 81 objek pengamatan. Metode analisis data yang digunakan dalam penelitian ini adalah regresi linier berganda yang diproses melalui Statistical Product and Service Solutions 24 (SPSS 24). Hasil penelitian ini menunjukkan bahwa struktur modal (DER) memiliki pengaruh positif yang tidak signifikan terhadap nilai perusahaan secara parsial. Sedangkan, profitabilitas (ROE) memiliki pengaruh positif signifikan dan ukuran perusahaan (SIZE) memiliki pengaruh positif insignifikan terhadap nilai perusahaan secara parsial. Secara simultan, ketiga variabel independen tersebut memiliki pengaruh signifikan terhadap nilai perusahaan.

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