Pengaruh Kinerja Keuangan dan Struktur Modal Terhadap Nilai Perusahaan: Peran Pemoderasi Ukuran Perusahaan Pada Perusahaan Sub Sektor Batubara yang Terdaftar Di Bursa Efek Indonesia Periode 2016-2018

Oleh Hesti Nurdiani

Abstract

The purpose of this study was to determine and analyze the effect of profitability on firm value, the effect of liquidity on firm value, the influence of capital structure on firm value, knowing the size of the company as a moderating variable would later be able to moderate or not profitability on firm value, liquidity on firm value and structure capital to the value of the company in the coal sub-sector companies listed on the Indonesia Stock Exchange in 2016-2018. This study uses quantitative research with a sample of 13 coal sub-sector companies listed on the Indonesia Stock Exchange during the 2016-2018 period. While the sample technique used in this study is using purposive sampling method. The determination of sample techniques in this study is based on several criteria. The type of data used is secondary data. The results of this study indicate that profitability (ROA) has a negative and not significant effect on firm value (PBV), liquidity (CR) has a negative and not significant effect on firm value (PBV), and capital structure (DER) has a positive and not significant effect on value company (PBV). In moderation, company size is able to positively moderate (strengthen) the profitability relationship to firm value (PBV), and the liquidity relationship (CR) to firm value (PBV), and negatively moderate (weaken) the relationship of capital structure (DER) to firm value.

Key Words: Profitability; liquidity, capital structure; firm value; company size