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All Journal Inisiatif: Jurnal Ekonomi, Akuntansi Dan Manajemen
Windi Puspitasari
Universitas Pamulang
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

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Pengaruh Kinerja Keuangan, Pertumbuhan Perusahaan, dan Kebijakan Hutang terhadap Nilai Perusahaan pada PT Pakuwon Jati Tbk. Periode 2015-2024 Windi Puspitasari; Lisdawati Lisdawati
Inisiatif: Jurnal Ekonomi, Akuntansi dan Manajemen Vol. 5 No. 4 (2026): (Oktober) Inisiatif: Jurnal Ekonomi, Akuntansi dan Manajemen
Publisher : Universitas 45 Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30640/inisiatif.v5i4.7858

Abstract

This study investigates the influence of financial performance, company growth, and debt policy on firm value at PT Pakuwon Jati Tbk over the 2015–2024 period. Financial performance is represented by Return on Assets (ROA), company growth is measured using Asset Growth, while debt policy is assessed through the Debt to Equity Ratio (DER). Firm value is evaluated using Tobin’s Q. A quantitative research approach was applied, utilizing secondary data obtained from the financial statements of PT Pakuwon Jati Tbk during the observation period. The data comprised information from the statement of financial position, income statement, and stock summary for each year of observation. The partial test results reveal that Return on Assets (ROA) positively and significantly affects firm value, as shown by a t-value of 2.676 and a significance level of 0.037 (< 0.05). Conversely, Asset Growth does not significantly influence firm value, with a t-value of -1.693 and a significance level of 0.141 (> 0.05). Debt to Equity Ratio (DER) demonstrates a positive and significant effect on firm value, indicated by a t-value of 6.150 and a significance level of 0.001 (< 0.05). In addition, the simultaneous test demonstrates that ROA, Asset Growth, and DER collectively have a significant effect on firm value, as indicated by an F-value of 22.827 and a significance level of 0.001 (< 0.05).
Co-Authors Lisdawati