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All Journal Jurnal Minfo Polgan (JMP) Mount Hope Management International Journal
Khenny El Yabes Johananta
Institut Teknologi dan Bisnis Kristen Bukit Pengharapan
Computer Science & IT Decision Sciences, Operations Research & Management Library & Information Science Mathematics Social Sciences

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Pengaruh Current Ratio, Debt to Equity Ratio, Return on Assets, dan Total Assets Turnover Terhadap Nilai Perusahaan pada Perusahaan Consumer Non-Cyclicals yang Terdaftar di Bursa Efek Indonesia Periode 2016–2024 Khenny El Yabes Johananta; Ingrid Panjaitan
Jurnal Minfo Polgan Vol. 15 No. 1 (2026): Artikel Penelitian
Publisher : Politeknik Ganesha Medan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33395/jmp.v15i1.16075

Abstract

This study empirically examines the impact of Current Ratio (CR), Debt to Equity Ratio (DER), Return on Assets (ROA), and Total Asset Turnover (TATO) on company valuation as measured by Price to Book Value (PBV) in the Consumer Non-Cyclicals sector entities listed on the Indonesia Stock Exchange (IDX) during the 2016–2024 period. Using a purposive sampling technique, 9 sample companies were obtained, resulting in 81 observational data. The data were analyzed using multiple linear regression with the Ordinary Least Squares (OLS) approach processed using SPSS. The results of the classical assumption test indicate that the model has met the requirements for normality, multicollinearity, heteroscedasticity, and autocorrelation. Together, the four financial ratios (CR, DER, ROA, and TATO) are proven to have a significant influence on company valuation, with a calculated F value of 74.044 and a significance level below 0.001. Partially, CR shows a statistically significant positive unidirectional relationship (β = 0.787; p = 0.002), DER shows a statistically significant unidirectional relationship (β = 1.053; p = 0.018), ROA shows a statistically significant unidirectional relationship (β = 31.832; p = 0.000), and TATO shows a statistically significant unidirectional relationship (β = 1.575; p = 0.000) on firm value. Among the four variables, ROA has the largest contribution indicated by a standardized beta coefficient of 0.599. The model's explanatory power reaches 78.5% (Adjusted R² = 0.785). These findings support the signaling theory and indicate that financial ratios reflecting liquidity, leverage, profitability, and asset efficiency serve as positive signals for investors in this defensive sector.
PENGARUH DIGITAL ADS TERHADAP PENJUALAN PRODUK PERJALANAN WISATA ROHANI KE TANAH SUCI OLEH VITRA TOUR Aloysius Timoty; Rista Angriani; Khenny El Yabes Johananta
Mount Hope Management International Journal Vol. 3 No. 3 (2025)
Publisher : Institut Teknologi dan Bisnis Kristen Bukit Pengharapan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61696/momil.v3i3.1089

Abstract

This study examines the influence of Digital Ads on the sales of religious tourism packages to the Holy Land by Vitra Tour. In the evolving digital era, digital marketing has become an essential component of business strategy, including in the religious tourism industry. Using a qualitative approach with in-depth interview methods, this research reveals that although Vitra Tour utilizes Digital Ads as one of its marketing strategies, word of mouth marketing remains the primary driver of sales growth. Research findings show that in the last three months, Vitra Tour served 31 participants with annual total participants reaching 80-100 people. Digital Ads play a role in increasing brand visibility and expanding market reach; however, the company's success is more determined by its ability to provide quality and meaningful travel experiences. This study concludes that an integrated marketing approach combining digital marketing with word of mouth marketing, coupled with a focus on service quality, is an effective strategy in building and maintaining business sustainability in the religious tourism sector.
Co-Authors Aloysius Timoty Panjaitan, Ingrid Rista Angriani