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All Journal CASHFLOW : CURRENT ADVANCED RESEARCH ON SHARIA FINANCE AND ECONOMIC WORLDWIDE Journal of Management, Accounting, General Finance and International Economic Issues (MARGINAL)
Kurniawan, Yogi Ade Tia
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Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Environmental Science Social Sciences

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Determination of Financial Factors on Firm Value Kurniawan, Yogi Ade Tia; Hartono, Ulil; Haryono, Nadia Asandimitra
CURRENT ADVANCED RESEARCH ON SHARIA FINANCE AND ECONOMIC WORLDWIDE Vol. 4 No. 2 (2025): JANUARY
Publisher : Transpublika Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55047/cashflow.v4i2.1525

Abstract

This study aims to analyze the impact of Liquidity, Solvency, Profitability, and Activity on Company Value in food and beverage manufacturing companies listed on the IDX for the 2019–2022 period. The research employs a quantitative, causal associative approach using secondary data from company financial statements. A purposive sampling method was used, resulting in a sample of 24 companies, and the data were analyzed using multiple linear regression. The results show that simultaneously, the independent variables influence Company Value. Partially, the Liquidity variable (proxies: current ratio, quick ratio, and cash ratio) significantly affects Company Value (PBV). For Solvency, the debt-equity ratio (DER) and long-term debt-equity ratio (LTDtER) significantly affect Company Value, while the debt-asset ratio (DAR) does not. In terms of Profitability, return on equity (ROE) and return on assets (ROA) have significant effects, but net profit margin (NPM) does not. Lastly, under the Activity variable, inventory turnover (PPe) significantly affects Company Value, while accounts receivable turnover (PPi) does not. These findings underscore the importance of financial performance metrics in describing a company’s ability to meet obligations, achieve profitability, and manage asset turnover. Such insights are valuable for companies in understanding how their financial performance impacts Company Value.
THE EFFECT OF LIQUIDITY, SOLVENCY, PROFITABILITY AND ACTIVITY ON COMPANY VALUE: (Study of Food and Beverage Sub-sector Manufacturing Companies Listed on the Indonesian Stock Exchange for the 2019-2022 Period) Kurniawan, Yogi Ade Tia
JOURNAL OF MANAGEMENT, ACCOUNTING, GENERAL FINANCE AND INTERNATIONAL ECONOMIC ISSUES Vol. 3 No. 4 (2024): SEPTEMBER
Publisher : Transpublika Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55047/marginal.v3i4.1472

Abstract

The stock trading value in the Indonesian capital market increased by 15.1% to IDR 9,499 trillion in 2022. The food and beverage industry in the manufacturing sector is key to Indonesia's economic growth, showing consistent growth of over 20% in 2022. This industry's success is due to its capital capacity, workforce absorption, and added value creation. This study investigates the impact of Liquidity, Solvency, Profitability, and Activity on the Corporate Valuation of publicly listed food and beverage manufacturing companies on the IDX from 2019 to 2022. Data extracted from the financial records of companies was employed in a method that focused on numbers, cause-and-effect relationships, and connections. A purposive sampling process was used to choose 24 companies for examination. The analysis of the data involved the use of multiple linear regression. The results suggest that the combined independent factors have an impact on the value of a company. Specifically, the level of liquidity, as determined by various ratios such as the current ratio, quick ratio, and cash ratio, has a considerable influence on the company's value as measured by PBV. The debt-to-equity ratio (DER) and long-term debt-to-equity ratio (LTDtER) have a notable influence on solvency, unlike the debt asset ratio (DAR). Company value is greatly affected by return on equity (ROE) and return on assets (ROA), but not by net profit margin (NPM) when it comes to profitability. Lastly, Activity, measured by inventory turnover (PPe), significantly affects company value, whereas receivables turnover (PPi) does not.
Co-Authors Nadia Asandimitra Haryono Ulil Hartono