The Effect of Profitabilty, Debt Policy and Firm Size on Company Value in Consumer Goods Companies

  • Adat Muli Peranginangin STIE Surya Nusantara
Keywords: Gross Profit Margin (GPM), Operating Profit Margin(OPM), Net Profit Margin(NPM), Return On Asset(ROA), Return On Equity(ROE), Debt Policy (Debt Equity Ratio/DER), Firm size (Assets Size), Company Value (Price Earning Ratio/PER).

Abstract

Investor's perception of the company will be seen through the company's performance which is reflected by the Company's Value. High company value will increase the bargaining power of the company and provide added value for shareholders and investors who want to invest in the company.The objective of the research was to examine and analyze the influence of Profitability Ratio (Gross Profit Margin/GPM, Operating Profit Margin/OPM, Net Profit Margin/NPM, Return On Assets/ROA, Return On Equity/ROE), Debt Policy (Debt Equity Ratio/DER) and Firm size (Assets Size) on the Company Value (Price Earning Ratio/PER) in consumer goods companies listed in the Indonesia Stock Exchange. The research used causal research method and secondary data. The population was 47 consumer goods companies listed in the Indonesia Stock Exchange in the period of 2015-2017, and 23 of them were used as the samples, taken by purposive sampling technique. The data were analyzed by using multiple linear regression analysis. The results showed that simultaneously Gross Profit Margin (GPM), Operating Profit Margin (OPM), Net Profit Margin (NPM), Return On Assets (ROA), Return On Equity (ROE) and Debt Policy (Debt Equity Ratio / DER) significantly influence the Company Value (Per Earning Ratio / PER) with a calculated F value of 0,000. Partially, Gross Profit Margin (GPM) and Company Size (Assets Size) have a significant effect on Company Value (PER), with a t value of 0,000, while Operating Profit Margin (OPM), Net Profit Margin (NPM), Return On Assets (NPM) ROA), Return On Equity (ROE) and Debt Policy (Debt Equity Ratio / DER) have no effect on the Company Value (Per Earning Ratio) with t count values of 0.89, 0.831.0.757.0.864.0.827, respectively. With R Square 0, 348 = 34.8%, meaning that only 34.8% of the variables studied could affect the value of the company while 62.2% is influenced by other variables that were not researched.
Article Metrics

Downloads

Download data is not yet available.

References

Ardimas, W., Wardoyo. (2014) Pengaruh Kinerja Keuangan dan CSR terhadap Nilai

Perusahaan Pada Bank Go Public yang Terdaftar Di BEI. BENEFIT Jurnal

Manajemen dan Bisnis. 18(1), 57-66. doi: https://doi.org/10.23917/benefit.v18i1.1386

Brigham, E. F. & Houston J. F. (2011), Essentials of Financial Management: Dasar-Dasar

Manajemen Keuangan, Jakarta : Salemba Empat.

Budianto, B. A., Suhadak, & Dzulkirom, A. R. (2013), Pengaruh Rasio Profitabilitas

sebelum Initial Public Offering(IPO) 2010 Terhadap Nilai Perusahaan dan

Kecenderungan Profitabilitas di Tahun 2011, JAB , 2(1), 182-192.

Fahmi, I. (2013), Pengantar Manajemen Keuangan Teori dan Soal Jawab, Bandung:

Alfabeta

Hanafi, M. & Halim, A. (2012), Analisis Laporan Keuangan, Yogyakarta: (UPP) STIM

YKPN.

Harmono. (2015), Manajemen Keuangan Berbasis Balanced Scorecard Pendekatan Teori,

Kasus, dan Riset Bisnis. Jakarta:Bumi Aksara

Hartono, J. (2008), Teori Portofolio dan Analisis Investasi Edisi ke 5, Yogyakarta: BPFE

Irawan, A. (2009). Pengaruh Kepemilikan Manajerial terhadap Kebijakan Hutang dan

Damapaknya Pada Economic Value Added Perusahaan. Jurnal Ekspansi. 1(2), 233-

Kasmir, (2015), Analisis Laporan Keuang, Jakarta: PT Raja Grafindo Persada

Murhadi, W. R., (2013), Analisis Laporan Keuangan Proyeksi dan Valuasi Saham, Jakarta:

Salemba Empat

Chasanah, A. N. (2018), Pengaruh Rasio Likuiditas, Profitabilitas, Struktur Modal dan Ukura

Perusahaan Terhadap Nilai Perusahaan pada Perusahaan Manufaktur yang terdaftar di

BEI Tahun 2015-2017, JPEB, 3(1), 39-47. doi: https://doi.org/10.33633/jpeb.v3i1.22

Noerirawan, R. & Muid, A. (2012), Pengaruh Faktor Internal dan Eksternal Perusahaan

terhadap Nilai Perusahaan, Diponegoro Journal of Accounting. 1(2), 1-12.

Riyanto, B. (2011). Dasar-dasar Pembelajaran Perusahaan, Yogyakarta:BPFE

Sartono, A. (2012). Manajemen Keuangan Teori dan Aplikasi, Yogyakarta: BPFE

Sudana, I. M. (2011), Manajemen Keuangan Perusahaan Teori dan Praktek, Jakarta: Erlangga

Syamsusdin, L. (2013). Manajemen Keuangan Perusahaan, Yogyakarta:Gramedia Pustaka

Utama

Torang, S. (2012), Metode Riset Struktur & Perilaku Organisasi, Bandung: Alfabeta

Wiyono, G, & Kusuma, H. (2017). Manajemen Keuangan Lanjutan Berbasis Corporate

Value Creation Edisi 1, Yogyakarta: UPP STIM YKPN

Published
2019-12-18
How to Cite
Peranginangin, A. (2019). The Effect of Profitabilty, Debt Policy and Firm Size on Company Value in Consumer Goods Companies. Abstract Proceedings International Scholars Conference, 7(1), 1217-1229. https://doi.org/10.35974/isc.v7i1.1587