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All Journal Jurnal Manajemen Bisnis Abdimas Media Trend: Berkala Kajian Ekonomi dan Studi Pembangunan EKOMBIS REVIEW: Jurnal Ilmiah Ekonomi dan Bisnis JURNAL MANAJEMEN MOTIVASI Inovasi : Jurnal Ekonomi, Keuangan, dan Manajemen Al-Khidmah BULETIN AL-RIBAATH Unes Law Review JURNAL PRODUKTIVITAS Journal of Humanities and Social Studies JURNAL MANAJEMEN BISNIS Jurnal Sains Manajemen dan Bisnis Indonesia International Journal of Economics Development Research (IJEDR) Proceedings Series on Social Sciences & Humanities Journal Of World Science MULTIPLE: Journal of Global and Multidisciplinary Jurnal Ilmiah Ekonomi dan Manajemen IIJSE JIBEMA: Jurnal Ilmu Bisnis, Ekonomi, Manajemen, dan Akuntansi IECON: International Economics and Business Conference INOVASI: Jurnal Ekonomi, Keuangan, dan Manajemen JESH: Journal of Economics, Social, and Humanities
Dedi Hariyanto
Universitas Muhammadiyah Pontianak
Religion Arts Humanities Biochemistry, Genetics & Molecular Biology Chemical Engineering, Chemistry & Bioengineering Chemistry Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Energy Engineering Environmental Science Health Professions Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Physics Public Health Social Sciences Other

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Journal : JURNAL MANAJEMEN BISNIS

 1 
The Influence of Debt to Asset Ratio, Debt to Equity Ratio, Return on Assets, and Return on Equity on Firm Value in Financial Sector Companies Listed on the Indonesia Stock Exchange Aristawati, Karina Ayu; Hariyanto, Dedi
Jurnal Manajemen Bisnis Vol. 12 No. 1 (2025): March
Publisher : Pusat Penerbitan dan Publikasi Ilmiah, FEB, Universitas Muslim Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33096/jmb.v12i1.1080

Abstract

This study set out to explore how four financial ratios—DAR (Debt to Asset Ratio), DER (Debt to Equity Ratio), ROA (Return on Assets), and ROE (Return on Equity)—influence the value of banking businesses listed on the Indonesia Stock Exchange (IDX). Using a quantitative method, researchers analyzed the financial statements of IDX-listed companies in the financial sector through multiple linear regression. To ensure the reliability of the regression model, it was tested for normality, multicollinearity, heteroscedasticity, and autocorrelation using classical assumption tests. However, the results showed that none of the four variables—DAR, DER, ROA, or ROE—had a significant impact on firm value, either individually or collectively. This was confirmed by both the F-test and the t-test. The model’s R² value was just 0.014, meaning these variables explain only 1.4% of the changes in firm value. The remaining 98.6% is likely influenced by other factors outside the scope of this study. In short, this research suggests that DAR, DER, ROA, and ROE may not be the most useful indicators for assessing the value of financial sector companies. Future studies should consider additional variables, such as broader economic conditions and internal management strategies, to gain deeper insights into what drives firm value in this industry.
Co-Authors Abdurrahman Abdurrahman Adela Putri, Sofia Ahmad Ali Djamhuri Andika Fahruzzi Apriansyah Aqcahya, Nabila Arif Didik Kurniawan Arin Rafani Aristawati, Karina Ayu Cecep Kusmana Cilci, Riri Fitria Dedek Ningsih Lingga Devi Yasmin Deviansyah Deviansyah Dwi Utami Kliman Edy Suryadi Eka Indah Raharjo Eni Eni Equeza Ermulyawati Eva Pujianti Fahmi 01 Felia Anadita Fitri Fenni Supriadi Fita Kurniasari Fuad Ramdhan Ryanto Ghea Renova Karina Hamisah Hamisah Helman Fachri Heni Dwi Jayanti Heni Safitri Heni Safitri Heni Safitri Heni Safitri Herlina Seeng Ima Qurrota’ani Imariani Imariani Isna Safitri, Isna Isnaini Istifani Sucimanah Jestica Arifani Dilla Hardanti Karidan Karidan Khairunnisa, Hanna Khofifah, Nur Maisur Maisur Marisa Jemmy Maulida Maulida Melinda Tri Sundari Midun Midun Miea Sari Muhammad Dairul Ma'rif Muhammad Razibi Muiszudin Muiszudin Mulyana Mulyana Nada Wulantika Neni Triana M. Ngadimin Ngadimin Nina Yulinda Nirmalasari Nirmalasari Nurhayati, Aisah Dwi Ocktolius Syaputra Oksarini, Amalia Oktoriny, Fitra Pebriyanti Pustika, Titin Hestri Putri, Amelia Putri, Selvi Ananda Putri, Sukhesy Eka Ramadanti, Aulia Ramdhan Ryanto, Fuad Rayenda Khresna Brahmana Rian Sofiani Ririn Dwi Jayanti Riski Eka Yuliani Rita Kesumawati Rizky, Anisa Dinda Rohman Rohman Romi Ferdian Romi Ferdian Rusmini Rusmini Salsabila, Putri Aurora Samsuddin Samsuddin Samsul Bahari Sandy Haryono Santy Mayda Batubara Sarinah Sarinah Sehariyo Wijoyo Selly Septiana Siti Rahmawati Sa’baniah Sofi Zulfarida Sova Ariska Subhan A Sukardi Sukardi Sukhesy Eka Putri Syifa Azizah Tina Ardianti Titin Hestri Pustika Tuti Kurniati Wahdah Wahdah Wahyu Darmawan Wendy Widya Apriyani Windi Rati Fritiwi Wulandari Wulandari Wulandari, Febi Yunimar Zahari Zahari Zainudin, Amelia Nur Aini