PENGARUH STRUKTUR MODAL, LIKUIDITAS DAN NILAI PASAR
TERHADAP NILAI PERUSAHAAN PADA SEKTOR PROPERTY
DAN REAL ESTATE TAHUN 2013 – 2017
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Institusion
Sekolah Tinggi Ilmu Ekonomi Indonesia Jakarta
Author
Farida Putri, Mediani
Subject
Manajemen Keuangan
Datestamp
2022-01-10 11:23:03
Abstract :
ABSTRAK Penelitian ini bertujuan untuk mengetahui pengaruh struktur modal, likuiditas dan nilai pasar terhadap nilai perusahaan. Struktur modal diukur berdasarkan debt to equity ratio (DER), likuiditas diukur berdasarkan current ratio (CR) dan nilai pasar diukur berdasarkan price earning ratio (PER) sebagai variabel bebas, dan nilai perusahaan yang digunakan sebagai variabel terikat adalah price to book value (PBV). Strategi yang digunakan adalah asosiatif dan metode kuantitatif. Data yang digunakan adalah data sekunder berupa laporan tahunan perusahaan yang tercatat di Bursa Efek Indonesia (BEI) pada sektor property dan real estate tahun 2013 ? 2017 yaitu sebanyak 19 perusahaan yang menjadi sampel penelitian. Hasil penelitian ini menunjukkan bahwa secara simultan struktur modal, likuiditas dan nilai pasar berpengaruh signifikan terhadap nilai perusahaan. Penelitian secara parsial menunjukkan struktur modal tidak memiliki pengaruh signifikan terhadap nilai perusahaan, tetapi likuiditas dan nilai pasar memiliki pengaruh signifikan terhadap nilai perusahaan secara parsial. Kata Kunci : Struktur modal, likuiditas, nilai pasar, nilai perusahaan ABSTRACT The objective of this study was to determine the effect of capital structure, liquidity and market value to firm value. Capital structure is measured based on debt to equity ratio (DER), liquidity is measured based on current ratio (CR) and market value is measured by price earning ratio (PER) as an independent variable, and the value of the company measured by price to book value (PBV) is used as the dependent variable. The strategy used was associative and quantitative methods. The data used were secondary data from the annual reports of companies listed in Indonesia Stock Exchange (IDX) to the property and real estate sectors in 2013 - 2017, as many as 19 companies that became the research sample. The results of this study showed that simultaneously capital structure, liquidity and market value have a significantly effect on the firm value. Partially research shows capital structure does not have a significant effect on firm value, but liquidity and market value have a significant effect on the firm value partially. Keywords : Capital structure, liquidity, market value, firm value
ABSTRAK Penelitian ini bertujuan untuk mengetahui pengaruh struktur modal, likuiditas dan nilai pasar terhadap nilai perusahaan. Struktur modal diukur berdasarkan debt to equity ratio (DER), likuiditas diukur berdasarkan current ratio (CR) dan nilai pasar diukur berdasarkan price earning ratio (PER) sebagai variabel bebas, dan nilai perusahaan yang digunakan sebagai variabel terikat adalah price to book value (PBV). Strategi yang digunakan adalah asosiatif dan metode kuantitatif. Data yang digunakan adalah data sekunder berupa laporan tahunan perusahaan yang tercatat di Bursa Efek Indonesia (BEI) pada sektor property dan real estate tahun 2013 ? 2017 yaitu sebanyak 19 perusahaan yang menjadi sampel penelitian. Hasil penelitian ini menunjukkan bahwa secara simultan struktur modal, likuiditas dan nilai pasar berpengaruh signifikan terhadap nilai perusahaan. Penelitian secara parsial menunjukkan struktur modal tidak memiliki pengaruh signifikan terhadap nilai perusahaan, tetapi likuiditas dan nilai pasar memiliki pengaruh signifikan terhadap nilai perusahaan secara parsial. Kata Kunci : Struktur modal, likuiditas, nilai pasar, nilai perusahaan ABSTRACT The objective of this study was to determine the effect of capital structure, liquidity and market value to firm value. Capital structure is measured based on debt to equity ratio (DER), liquidity is measured based on current ratio (CR) and market value is measured by price earning ratio (PER) as an independent variable, and the value of the company measured by price to book value (PBV) is used as the dependent variable. The strategy used was associative and quantitative methods. The data used were secondary data from the annual reports of companies listed in Indonesia Stock Exchange (IDX) to the property and real estate sectors in 2013 - 2017, as many as 19 companies that became the research sample. The results of this study showed that simultaneously capital structure, liquidity and market value have a significantly effect on the firm value. Partially research shows capital structure does not have a significant effect on firm value, but liquidity and market value have a significant effect on the firm value partially. Keywords : Capital structure, liquidity, market value, firm value
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