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p-Index From 2021 - 2026
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All Journal Journal of Management and Digital Business
Rachel Oktavia Audina
Sekolah Tinggi Ilmu Ekonomi Indonesia Surabaya
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

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Manajemen keuangan perusahaan dan nilai perusahaan: Peran profitabilitas, likuiditas, dan efisiensi aset pada sektor energi di Indonesia Rachel Oktavia Audina; Emeralda Ayu Kusuma
Journal of Management and Digital Business Vol. 6 No. 2 (2026): Journal of Management and Digital Business
Publisher : Nur Science Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.53088/jmdb.v6i2.3084

Abstract

Firm value reflects investors’ perceptions of a company’s performance and prospects, particularly in the capital-intensive energy sector. This study examines the effect of profitability, liquidity, and activity ratios on firm value in energy companies listed on the Indonesia Stock Exchange during 2020–2024. A quantitative approach with multiple linear regression is applied using purposive sampling, resulting in 7 firms and 35 observations. Profitability is proxied by Return on Assets (ROA), liquidity by Current Ratio (CR), activity ratio by Total Asset Turnover (TATO), and firm value by Price to Book Value (PBV). The results show that ROA, CR, and TATO have a positive and significant effect on firm value. These findings indicate that efficient asset utilization, adequate liquidity, a strong activity ratio, and strong profitability serve as important signals for investors in assessing firm performance and increasing firm value in the capital market.
Co-Authors Emeralda Ayu Kusuma