INFLUENCE OF FINANCIAL LEVERAGE, LIQUIDITY, AND FIRM SIZE TO FARM VALUE
(Case Study On Infrastructure, Utilities, and Transportation Companies Listed On
The Indonesia Stock Exchange (BEI) Periods 2015 – 2018)
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Institusion
Sekolah Tinggi Ilmu Ekonomi Indonesia Jakarta
Author
Samudera, Mega
Subject
Manajemen Keuangan
Datestamp
2022-01-06 03:41:40
Abstract :
ABSTRACT This study aims to determine the effect of financial leverage, liquidity, and firm size on the firm value. The strategy in this study are asosiative and causal. The populations in this study are infrastructure, utilities, and transportation companies listed on Indonesia Stock Exchange at 2015 ? 2018. Sampling method performed with purposive sampling method, and based on predetermined criteria, the number of samples is 20 companies on the main board of this sector. Data analysis technique is using classical assumption test and analysis panel data with application tool E-Views 10 Student Version. used is Hyphothesis testing studies used analysis of panel data. The result showed that: 1) financial leverage significant positive effect on firm value, 2) liquidity not significant positive effect on firm value, 3) firm size not significant positive effect on firm value, 4) financial leverage, liquidity, and firm size simoultaneously has significant positive effect with 94.62% value of coefficient determination. The result showed that financial leverage is only significant positive influence to the value of the company. This meansthat low financial leverage can provide added to value to the company, which is reflected by the increasing value of PBV. Key Word: Financial Leverage (DER), Liquidity (CR), Firm Size (Size), Firm Value (PBV).
ABSTRACT This study aims to determine the effect of financial leverage, liquidity, and firm size on the firm value. The strategy in this study are asosiative and causal. The populations in this study are infrastructure, utilities, and transportation companies listed on Indonesia Stock Exchange at 2015 ? 2018. Sampling method performed with purposive sampling method, and based on predetermined criteria, the number of samples is 20 companies on the main board of this sector. Data analysis technique is using classical assumption test and analysis panel data with application tool E-Views 10 Student Version. used is Hyphothesis testing studies used analysis of panel data. The result showed that: 1) financial leverage significant positive effect on firm value, 2) liquidity not significant positive effect on firm value, 3) firm size not significant positive effect on firm value, 4) financial leverage, liquidity, and firm size simoultaneously has significant positive effect with 94.62% value of coefficient determination. The result showed that financial leverage is only significant positive influence to the value of the company. This meansthat low financial leverage can provide added to value to the company, which is reflected by the increasing value of PBV. Key Word: Financial Leverage (DER), Liquidity (CR), Firm Size (Size), Firm Value (PBV).
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