Pengaruh Struktur Modal dan Profitabilitas terhadap Nilai Perusahaan pada Sektor Logam dan Sejenisnya Tahun 2017-2021

  • Ahmad Nufyar Fakultas Ekonomi dan Bisnis, Universitas Negeri Padang, Padang
  • Erly Mulyani Fakultas Ekonomi dan Bisnis, Universitas Negeri Padang, Padang
Keywords: Capital Structure, Profitability, Firm Value

Abstract

This study aims to determine the effect of capital structure and profitability on firm value in metal sector companies listed on the Indonesia Stock Exchange for the 2017-2021 period. The study is a causal study that uses linear regression analysis to test the hypotheses that are asked. The population in this study is the entire metal company and the like listed in the Indonesia stock exchange, which includes 14 companies. The sample retrieval technique used is an purposive sample so that the number of samples used in this study is 70. The source of data used in this study is the data source that is available after it has been collected by others. The research suggests that capital structures have no significant impact on firm values and profitability demonstrate a positive and significant impact on firm values. For further research it is hoped to examine other variables other than capital structures and profitability, and it is hoped that they will multiply samples that will be studied to improve results.

 

References

Agus Harjito dan Martono. (2012). Manajemen Keuangan (2nd ed.). Ekonisia.

Almahadin, H. A., & Oroud, Y. (2019). Capital structure-firm value nexus: The moderating role of profitability. Revista Finanzas y Politica Economica, 11(2), 375–386. https://doi.org/10.14718/REVFINANZPOLITECON.2019.11.2.9

Anggraeni, I. G. A. M. O., & Rahyuda, H. (2020). The Influence Of Company Size And Capital Structure On Company Profitability And Value In Food And Beverage Companies In Indonesia Stock Exchange. American Journal of Humanities and Social Sciences Research (AJHSSR), 4(9), 236–243.

Anwar Sanusi. (2011). Metodologi Penelitian Bisnis. Salemba Empat.

Besley Scott and Brigham, E. F. (2008). Essential of Manageial Finance (Cengage Learning (ed.); 14th Editi).

Brigham, E. F. dan J. F. H. (2018). Dasar- Dasar Manajemen Keuangan (14th ed.). Salemba Empat.

Cuong, N. T., & Canh, N. T. (2012). The effect of capital structure on firm value for Vietnam’s seafood processing enterprises. International Research Journal of Finance and Economics, 89(June 2012), 221–233.

Dang, H. N., Vu, V. T. T., Ngo, X. T., Thi, H., & Hoang, V. (2019). S tudy the Impact of Growth , Firm Size , Capital Structure , and Pro fi tability on Enterprise Value : Evidence of Enterprises in Vietnam. The Journal of Corporate Accounting & Finance, 146–162. https://doi.org/10.1002/jcaf.22371

Dewi, P. Y. S., Yuniarta, G. A., AK, S., Atmadja, A. T., & SE, A. (2014). Pengaruh struktur modal, pertumbuhan perusahaan dan profitabilitas terhadap nilai perusahaan pada perusahaan LQ 45 di BEI periode 2008-2012. JIMAT (Jurnal Ilmiah Mahasiswa Akuntansi), 2(1).

Endah Prawesti Nigrum. (2022). Nilai Perusahaan. CV. Adanu Abimata.

Gultom, R., & Wijaya, S. W. (2013). Analisis Faktor Faktor yang Mempengaruhi Nilai Perusahaan Farmasi di Bursa Efek Indonesia periode 2008-2011. Jurnal Wira Ekonomi Mikroskil, 3(1), 51–60.

Harahap, Sofyan Syafri. Drs. (2007). Analisis Kritis Atas Laporan Keuangan, Cetakan ke-7. PT Raja Grafindo Persada.

Harmono. (2009). Manajemen Keuangan Berbasis Balanced Scorecard (Pendekatan Teori, Kasus, dan Riset Bisnis). Bumi Aksara.

Hartono, J. (2005). Hubungan Teori Signalling dengan Underpricing Saham Perdana diBursa Efek Jakarta. Jurnal Bisnis Dan Manajemen, 35–50.

Hasanuddin, R. (2020). PENGARUH STRUKTUR MODAL DAN PROFITABILITAS TERHADAP HARGA SAHAM (Studi pada Perusahaan Makanan dan Minuman yang terdaftar di Bursa Efek Indonesia Tahun 2009-2012). Jurnal Administrasi Bisnis S1 Universitas Brawijaya, 11(1), 82708.

Hemuningsih, S. (2013). Pengaruh Profitabilitas, Growth Opportunity, Struktur Modal Terhadap Nilai Perusahaan Publik Di Indonesia. Bulletin of Science, Technology and Society, (2), 127–148. https://doi.org/10.1177/027046769801800106

Herijawati, E. (2016). Pengaruh Likuiditas Dan Profitabilitas Terhadap Nilai Perusahaan ( Study Empiris Pada Perusahaan Manufaktur Sektor Logam Dan Sejenisnya Yang Terdaftar Di Bursa Efek Indonesia ). 2, 1–6.

Husnan. (2006). Manajemen Keuangan (R. Franita (ed.)).

Jama’an. (2008). Pengaruh Mekanisme Corporate Governance Dan Kualitas Kantor Akuntan Public Terhadap Integritas Informasi Laporan Keuangan (Studi Pada Perusahaan Public Di BEJ). Diponegoro, Semarang.

Kurniawati, P. & T. (2018). Pengaruh Struktur Modal dan Profitabilitas Terhadap Harga Saham (Studi pada Perusahaan Makanan dan Minuman yang Terdaftar Di BEI Periode 2013-2015). Jurnal Administrasi Bisnis (JAB), 56(1).

Lanjas, V. M. (2021). The Effect of Capital Structure, Company Growth, and Profitability on Firm Value. Research Journal of Finance and Accounting, 12(6), 102–109. https://doi.org/10.7176/rjfa/12-6-09

Lubis, I. L., Sinaga, B. M., & Sasongko, H. (2017). Pengaruh Profitabilitas, Struktur Modal, Dan Likuiditas Terhadap Nilai Perusahaan. Jurnal Aplikasi Bisnis Dan Manajemen, 3(3), 458–465.

Mishelle Doorazamy. (2021). Capital structure , firm value and managerial ownership : Evidence from East African countries. Investment Management and Finanancial Innovations, 18(1). https://doi.org/10.21511/imfi.18(1).2021.28

Muliana, M., & Ahmad, S. W. A. (2021). Pengaruh Struktur Modal Dan Profitabilitas Terhadap Nilai Perusahaan. POINT: Jurnal Ekonomi Dan Manajemen, 3(2), 97–110. https://doi.org/10.46918/point.v3i2.1171

Osazuwa, N. P., & Che-ahmad, A. (2016). The moderating effect of profitability and leverage on the relationship between eco-efficiency and firm value in publicly traded Malaysian firms. Social Responsibility Journal, 12(2). https://doi.org/10.1108/SRJ-03-2015-0034

Pamungkas, H. S. (2013). Pengaruh keputusan investasi, keputusan pendanaan, kebijakan dividen dan ukuran perusahaan terhadap nilai perusahaan. Jurnal Akuntansi & Auditing Indonesia, 17(2), 155–164. https://doi.org/10.20885/jaai.vol17.iss2.art6

Pramana, I. G. N. A. D., & Mustanda, I. (2016). The Effect of Profitability and Size on Firm Value with CSR as a moderating variable. E-Journal of Management, 5(1), 27–33.

Saidi. (2004). Faktor-Faktor yang Mempengaruhi Struktur Modal pada Perusahaan Manufaktur Go Public di BEJ Tahun 1997-2002. Jurnal Bisnis Dan Ekonomi, 11(1).

Sembiring, S., & Trisnawati, I. (2019). Faktor-Faktor Yang Mempengaruhi Nilai Perusahaan Selvi Sembiring Ita Trisnawati. Jurnal Bisnis Dan Akuntansi, 21(1), 173–184.

Spence, M. (1973). Job Market Signaling. The Quarterly Journal of Economics, 87(3), 355-374.

Sri, H. (2013). Pengaruh Profitabilitas, Growth opportunity, sruktur Modal terhadaP nilai Perusahaan Pada Perusahaan Publik di indonesia. Buletin Ekonomi Moneter Dan Perbankan, 18(1), 38–46. https://doi.org/10.21098/bemp.v16i2

Sujoko dan Soebiantoro. (2007). Pengaruh Struktur Kepemilikan Saham, Leverage, Faktor Intern Dan Faktor Ekstern Terhadap Nilai Perusahaan (Studi empirik pada perusahaan manufaktur dan non manufaktur di Busra Efek Jakarta). Jurnal Manajemen Dan Kewirausahaan, 9(1), 41-48.

T. Velnampy & J. Aloy Niresh. (2012). The Relationship between Capital Structure & Profitability. Global Journal of Management and Business Research, 12(13).

Tanggo, R. R., & Taqwa, S. (2020). Pengaruh Profitabilitas, Kualitas Laba Dan Keputusan Investasi Terhadap Nilai Perusahaan. Jurnal Eksplorasi Akuntansi, 2(4), 3828–3839. https://doi.org/10.24036/jea.v2i4.321

Vo, X. V., & Ellis, C. (2017). An empirical investigation of capital structure and firm value in Vietnam. Finance Research Letters, 22, 90–94. https://doi.org/10.1016/j.frl.2016.10.014

Wardiah, M. L. (2017). Analisis Laporan Keuangan. CV. Pustaka Setia.

Yuliana. (2021). Pengaruh Struktur Modal dan Kebijakan Dividen terhadap Nilai Perusahaan pada Sub Sektor Real dan Estate di Bursa Efek Indonesia (BEI). Journal Inovasi Penelitian, 1(12), 2587–2598.

Published
2023-09-04