<![CDATA[This study aims to determine the effect of Capital Structure as measured by the Debt to Equity Ratio (DER), Profitability as measured by Return on Assets (ROA), Liquidity as measured by the Current Ratio (CR), and Economic Growth as measured by Gross Domestic Product (GDP) on Firm Value as measured by Price to Book Value (PBV) at PT Kalbe Farma Tbk during the 2015–2025 period. This study employed a quantitative method using secondary data. The population as well as the sample consisted of the annual financial statements of PT Kalbe Farma Tbk for the 11 year period from 2015 to 2025, using a saturated sampling technique. Data were analyzed using multiple linear regression with the aid of IBM SPSS Statistics version 27. The results of the t test indicate that Capital Structure has a positive but insignificant effect on Firm Value, Profitability has a positive and significant effect on Firm Value, while Liquidity and Economic Growth have negative but insignificant effects on Firm Value. The results of the F test indicate that Capital Structure, Profitability, Liquidity, and Economic Growth simultaneously have an effect on Firm Value, but the effect is not statistically significant at PT Kalbe Farma Tbk.]]>
Copyrights © 2026
