Pengaruh Struktur Modal, Profitabilitas, dan Ukuran Perusahaan Terhadap Nilai Perusahaan Pada Perusahaan Manufaktur di BEI Tahun 2016-2018

Abstract

The purpose of this research is to determine the effect of capital structure, profitability, company size on firm value in manufacturing companies on the IDX. The population in this study is the financial statement data of manufacturing companies that are listed and presented to the public in full published by the Indonesian Capital Market Directory (ICMD) on the Indonesia Stock Exchange for the period 2016-2018. While the sample used is 23 companies on the Indonesia Stock Exchange for the period 2016-2018. Hypothesis 1 testing (H1) shows that the t value = -1.342 α = 0.05, so that Hypothesis 1 (H1) is not significant (H1 is rejected). Thus, the hypothesis (H1) that capital structure (X1) affects firm value (Y) is not proven. This means that the greater of capital structure invested by investors in the company, the less it doesn’t affect the value of the company. Hypothesis 2 testing (H2) shows that the t value for (β2) = 8.769 > t table = 1.667, with a significance number = 0.000 < α = 0.05, so that Hypothesis 2 (H2) is significantly positive (H2 is accepted). Thus, the hypothesis (H2) that profitability (X2) has a positive effect on firm value (Y) is proven. This means that the greater of profitability generated by the company, the more the company value will also increase.