EFFECT OF PROFITABILITY, INVESTMENT DECISION ON COMPANY VALUE IN MANUFACTURING COMPANY LISTED IN INDONESIA STOCK EXCHANGE

Ayu Karnulis Setiyorini, Chandra Kartika

Abstract


Penelitian ini bertujuan untuk menguji pengaruh profitabilitas dan keputusan investasi terhadap nilai perusahaan. Return On Asset (ROA) digunakan sebagai proksi profitabilitas, Total Asset Growth (TAG) sebagai proksi keputusan investasi, dan  Price Book Value (PBV) sebagai proksi nilai perusahaan. Metode pengambilan sampel menggunakan metode purposive sampling, yaitu menggunakan sampel dengan pertimbangan – pertimbangan tertentu , perusahaan yang terdaftar dalam Bursa Efek Indonesia selama periode 2017 – 2018. Sampel yang digunakan adalah 4 perusahaan yang terdaftar dalam Bursa Efek Indonesia. Metode analisis yang digunakan trianggulasi yaitu analisis regresi linier berganda. Hasil penelitian ini secara parsial menunjukkan bahwa profitabilitas (ROA) dan keputusan investasi (TAG) berpengaruh positif dan signifikan terhadap nilai perusahaan (PBV).  Secara simultan, kedua variabel independen  tersebut  mempengaruhi variabel nilai perusahaan (PBV), namun nilai perusahaan tidak hanya dipengaruhi oleh social-faktor internal, nilai perusahaan juga dipengaruhi oleh social eksternal seperti tingkat suku bunga, tingkat inflasi, kurs mata uang dan situasi social politik.

Kata Kunci: Nilai perusahaan (PBV), profitabilitas (ROA), keputusan investasi (TAG).

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References


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DOI: http://dx.doi.org/10.25139/dev.v2i2.1071

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