Determinan Keuangan Nilai Perusahaan Sektor Consumer Non-Cyclicals di Bursa Efek Indonesia
DOI:
https://doi.org/10.38035/jafm.v7i3.3585Keywords:
Nilai Perusahaan, Profitabilitas, Likuiditas, Leverage, Fixed Effect ModelAbstract
Tujuan dalam penelitian ini adalah menganalisis pengaruh profitabilitas, likuiditas dan leverage terhadap nilai perusahaan. Penelitian ini menggunakan objek perusahaan yang tercatat di Bursa Efek Indonesia di sektor consumer non-cyclicals. Sektor ini menarik karena menunjukkan fluktuasi nilai perusahaan pascapandemi meskipun karakteristik operasionalnya relatif stabil. Metode penelitian yang digunakan adalah kuantitatif kausal. Sampel dipilih menggunakan metode purposive sampling berdasarkan kriteria menghasilkan jumlah sampel sebanyak 50 perusahaan dengan lima periode dari tahun 2021-2025 dengan total keseluruhan 250 data observasi yang dianalisis menggunakan regresi data panel melalui Eviews 13. Hasil pengujian menunjukkan bahwa model estimasi terbaik adalah Fixed Effect Model. Secara parsial, profitabilitas dan likuiditas berpengaruh positif dan signifikan terhadap nilai perusahaan. Sebaliknya, leverage berpengaruh negatif dan signifikan terhadap nilai perusahaan. Secara simultan, ketiga variabel independen tersebut berpengaruh signifikan terhadap nilai perusahaan. Implikasi pada penelitian ini menegaskan pentingnya efisiensi pemanfaatan aset dan pembatasan utang luar guna menjaga sentimen positif pasar.
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