PENGARUH LIKUIDITAS, PROFITABILITAS, UKURAN PERUSAHAAN DAN LEVERAGE TERHADAP NILAI PERUSAHAAN SEKTOR PROPERTI DAN REAL ESTATE DI BURSA EFEK INDONESIA

Abstrak

Penelitian ini bertujuan untuk menganalisis pengaruh likuiditas, profitabilitas, ukuran Perusahaan, dan leverage terhadap nilai Perusahaan pada Perusahaan sektor properti dan real estate di Bursa Efek Indonesia 2021-2024. Penelitian menggunakan pendekatan kuantitatif dengan data sekunder yang bersumber dari laporan keuangan Perusahaan melalui situs resmi BEI. Teknik pengambilan sampel menggunakan purposive sampling sehingga diperoleh 34 Perusahaan dengan total 136 data pengamatan, yang setelah dilakukan prosedur pembersihan data (outlier) menjadi 112 data yang layak dianalisis menggunakan regresi linear berganda dengan perangkat lunak SPSS versi 26. Variabel independen terdiri dari likuiditas (CR), profitabilitas (ROA), ukuran Perusahaan (Firm Size), dan leverage (DER), sedangkan variabel dependen adalah nilai Perusahaan (PBV). Hasil pengujian secara Uji F menunjukkan bahwa keempat variabel independen tersebut secara bersama-sama berpengaruh signifikan terhadap nilai Perusahaan. Secara Uji T, hasil penelitian menunjukkan bahwa Likuiditas, Profitabilitas dan Leverage berpengaruh positif signifikan terhadap nilai Perusahaan, Sedangkan Ukuran Perusahaan berpengaruh negatif dan signifikan. Nilai Adjusted R Square sebesar 0.996 menunjukkan bahwa 99.6 persen variasi nilai Perusahaan dapat dijelaskan oleh model penelitian ini, sementara sisanya sebesar 0.4 persen dijelaskan oleh faktor lain di luar penelitian.

This study aims to analyze the effect of liquidity, profitability, firm size, and leverage on firm value in property and real estate on the Indonesia Stock Exchange 2021-2024 period. The study employs a quantitative approach using secondary data obtained from companies’ financial statements published on the official IDX website. The sampling technique used is purposive sampling, resulting in 34 companies with a total of 136 observations. After conducting data cleaning procedures to eliminate outliers, 112 observations were deemed eligible for analysis. The data were analyzed using multiple linear regression with SPSS version 26. The independent variables consist of liquidity measured by the Current Ratio (CR), profitability measured by Return on Assets (ROA), firm size, and leverage measured by the Debt to Equity Ratio (DER), while the dependent variable is firm value measured by Price to Book Value (PBV). The results of the F-test indicate that all independent variables simultaneously have a significant effect on firm value. The t-test results show that liquidity, profitability, and leverage have a positive and significant effect on firm value, whereas firm size has a negative and significant effect. The adjusted R-squared value of 0.996 indicates that 99.6 percent of the variation in firm value can be explained by the research model, while the remaining 0.4 percent is explained by other factors outside the model.