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Pengaruh Leverage, Profitabilitas, Ukuran Perusahaan, Pertumbuhan Perusahaan, dan Komisaris Independen terhadap Nilai Perusahaan pada Subsektor Makanan dan Minuman yang Terdaftar di BEI 2022-2025 Qinayya Alimmazan; Ngurah Pandji Mertha Agung Durya; Wikan Isthika; Purwantoro Purwantoro
Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah Vol. 8 No. 9 (2026): Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah
Publisher : Intitut Agama Islam Nasional Laa Roiba Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47467/alkharaj.v8i9.13253

Abstract

Firm value serves as a crucial benchmark reflecting the market's assessment of management's success. This study aims to examine the impact of leverage, profitability, firm size, firm growth, and independent commissioners on the firm value of companies in the food and beverage sub-sector listed on the Indonesia Stock Exchange (IDX) during the 2022–2025 period. Employing a quantitative approach using secondary data and purposive sampling, the study yielded 228 observations from 73 companies after excluding 16 outliers. Data analysis was conducted using multiple linear regression via SPSS. The results indicate that leverage has a positive and significant effect on firm value, whereas profitability, firm size, firm growth, and independent commissioners do not have a significant effect. Nevertheless, the five variables collectively exert a significant influence on firm value, accounting for 20.3% of the variance. These findings suggest that leverage—specifically through debt management—is the primary factor considered by investors, outweighing other performance and governance indicators.