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Winda Dwi Yanthi
1Fakultas Ekonomi Sekolah Tinggi Ilmu Ekonomi Cirebon
Economics, Econometrics & Finance

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A STUDY OF ENTERPRISE VALUE IN INDONESIAN MANUFACTURING FIRMS: EVIDENCE FROM IDX-LISTED COMPANIES Winda Dwi Yanthi; Eddo nanda Oktarici
JOURNAL OF APPLIED MANAGERIAL ACCOUNTING Vol. 9 No. 1 (2025): JOURNAL OF APPLIED MANAGERIAL ACCOUNTING
Publisher : Pusat P2M Politeknik Negeri Batam

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30871/jama.v9i1.8723

Abstract

The research study examined the influence debt policy, profitability, company performance, and investment decisions on the value of enterprises within the manufacturing sectors which listed on the Indonesia Stock Exchange (IDX) from 2018 into 2022. We included 15 companies in the sample and conducted the analysis using multiple linear regression with SPSS 25. The findings indicated that the debt policy (DER) had a significant negative impact on firm value, evidenced by a t count of -3.178 and a significance level of 0.002. The impact of profitability (ROE) on firm value is notably positive, as evidenced by a t amount of 9.110 and a significance level 0.000. The company performance, measured by ROA, had a significantly negative impact on enterprise value, evidenced by a t count of -0.3288 and a significance level 0.002. In the meantime, investment decisions (CAPBVA) do not significantly influence enterprise value, as indicated by a t count of 1.991 and a corresponding significance level. This study offers investors and company management a deeper understanding of the elements that contribute to firm value in the manufacturing industry.
Co-Authors Eddo Nanda Oktarici