Management Research Studies Journal
Vol. 7 No. 2 (2026): Management Research Studies Journal

Determinants of Firm Value: Evidence From Consumer Goods Sector in Indonesia Stock Exchange

Fransiska Adeline Putri Rafney Alim (Department of Management, Perbanas Institute)
Natali Yustisia (Unknown)
Hedwigis Esti Riwayati (Unknown)



Article Info

Publish Date
29 Oct 2026

Abstract

Abstract   This research aims to analyse the influence of internal financial factors such as profitability, liquidity and leverage on the firm value of consumer goods companies listed on the Indonesia Stock Exchange during the period 2020 –2024. The research method employed is a quantitative approach using secondary data from the companies’ financial statements for the years 2020–2024. The population in this study consists of consumer goods companies listed on the Indonesia Stock Exchange. The sample size comprises 35 companies, with 175 data observation. The data analysis technique employed is panel data linear regression who supported by software Microsoft Excel and EViews12. The results indicate that profitability and liquidity have a significant positive affect on firm value, whilst leverage does not have a significant affect on firm value. Based on these findings, companies are advised to maintain profitability and liquidity to enhance firm value. While for investors, it is recommended to analyse a company’s financial performance first before making investment decisions.    

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Journal Info

Abbrev

mrsj

Publisher

Subject

Computer Science & IT Economics, Econometrics & Finance Social Sciences

Description

Management Research Studies Journal is a scientific journal published by the Perbanas Institute, which contains scientific articles that are the output of research. The journal has a main focus on the development of management sciences The scope of knowledge includes marketing management, human ...