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All Journal MANAJEMEN DEWANTARA
Nanda Dwi Agus Pertiwi
UPN "Veteran" Jawa Timur

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PENGARUH RISIKO BISNIS, RISIKO FINANSIAL, DAN RISIKO SISTEMATIS TERHADAP NILAI PERUSAHAAN SEKTOR ENERGI YANG TERDAFTAR DI BURSA EFEK INDONESIA Nanda Dwi Agus Pertiwi; Tri Kartika Pertiwi
MANAJEMEN DEWANTARA Vol 10 No 3 (2026): MANAJEMEN DEWANTARA
Publisher : Universitas Sarjanawiyata Tamansiswa

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30738/md.v10i3.23403

Abstract

The primary objective of this research is to assess how business, financial, and systematic risks affect the valuation of energy-sector firms listed on the Indonesia Stock Exchange during the 2020–2024 period. A quantitative research design is adopted, with secondary data serving as the main source. Through purposive sampling, 37 companies are selected, representing 185 firm-year observations. The analytical technique applied is multiple linear regression using SPSS 26. The results reveal that business risk (DOL) and financial risk (DER) do not have statistically significant effects on firm value. However, systematic risk (beta) is found to have a significant negative relationship at the α = 10% level. These findings imply that market-related risks are more influential than internal risk factors in shaping investor perceptions within the energy industry.