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All Journal Nominal: Barometer Riset Akuntansi dan Manajemen
Hana Dewi Artiqah Khoir
Universitas Negeri Yogyakarta
Economics, Econometrics & Finance

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THE Effect of Profitability, Liquidity, and Free Cash Flow on the Value of LQ45-Indexed Companies on the Indonesia Stock Exchange Isroah Isroah; Hana Dewi Artiqah Khoir
Nominal: Barometer Riset Akuntansi dan Manajemen Vol. 15 No. 1 (2026): Nominal April 2026
Publisher : Universitas Negeri Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21831/nominal.v15i1.101282

Abstract

Abstract This study examines the effects of Return on Assets (ROA), Current Ratio (CR), and Free Cash Flow (FCF) on firm value, measured by Price to Book Value (PBV), in LQ45 companies. Using a quantitative causal-comparative design, 154 firm-year observations were selected through purposive sampling and analyzed using multiple linear regression. The results show that ROA has a positive but insignificant effect on PBV, while CR has a negative and insignificant effect. FCF has a positive and significant effect on PBV. These findings indicate that free cash flow is the main financial factor associated with firm value in the observed sample. Effective free cash flow management may therefore strengthen investor confidence and market valuation.
Co-Authors Isroah Isroah