Pengaruh Tax Planning, Struktur Modal, Keputusan Investasi, dan Profitabilitas terhadap Nilai Perusahaan

This study aims to examine the effect of investment decisions, funding decisions, dividend policy, profitability and company size on firm value. In this study, company value is measured by Price to Book Value (PBV), Price Earning Ratio (PER) is used as a proxy for investment decisions, Debt to Equity Ratio (DER) is used as a proxy for funding decisions, Devided Payout Ratio (DPR) is used as a proxy dividend policy, Return On Equity (ROE) is used as a proxy for profitability and natural logarithm (ln) is used as a proxy for measure of firm value. This study uses a purposive sampling method to determine the number of samples. The sample used in this study were 10 manufacturing companies listed on the Indonesia Stock Exchange which published financial statements for the 2013-2017. The data analysis method uses multiple regression. The results showed that investment decisions had a positive effect on firm value. However, funding decisions had no effct on firm value, dividend policy had a negatif effect on firm value, profit had a positive effect on firm value and company size had a negatif affect the firm's value.

This study is aimed to examine the effect of financial performance and financial policy using variables the Return on Equity (ROE), Return on Assets (ROA), Firm Size (SIZE), Debt to Equity Ratio (DER), and Earning per Share (EPS) towards firm value indicated by Price to Book Value (PBV) of plantation sector companies listed in the Indonesia Stock Exchange. The data is obtained from the company's financial statements for the 2016-2020 consecutive year. The data was processed using Multiple Regression Analysis with SPSS 25. The results showed that profitability indicated by return on equity (ROE) had a positive and significant effect on the firm value indicated by Price to Book Value (PBV). Return on Assets (assets) has a positive and significant effect on firm value as indicated by Price to Book Value (PBV). Firm size has a positive but non-significant effect on firm value. The debt to Equity Ratio has a significant negative effect on firm value. Earning per share has a positive and significant effect on firm value. Simultaneously, Return on Equity (ROE), Return on Assets (ROA), Company Size (SIZE), Debt to Equity Ratio (DER), and Earning per Share (EPS) has a significant effect on firm value as indicated by Price to Book Value ( PBV)

The purpose of this research is to identify the effect of profitability, capital structure, growth prospect, and company valuation on abnormal return (market-adjusted model) of public companies around the announcement of stock split in Indonesia Stock Exchange in the period of 2010-2013. In this research, Return on Equity (ROE) is used as a proxy of profitability, Debt to Equity Ratio (DER) as a proxy of capital structure, Price to Earnings Ratio (PER) as a proxy of growth prospect, and Price to Book Value (PBV) as a proxy of company valuation. The results of this research indicate that profitability, capital structure, growth prospect, and company valuation simultaneously have no significant effect on abnormal return. Partially, profitability has positive and not significant effect on abnormal return, while capital structure, growth prospect, and company valuation have negative and not significant effect on abnormal return. Keywords: Profitability, Capital Structure, Growth Prospect, Company Valuation, Stock Split, Reverse Split, and Abnormal Return

This study aims to examine the effect of profitability, capital structure, and company size on company value, using institutional ownership as a moderating factor in companies from the Consumer Non-Cyclicals sector listed on the Indonesia Stock Exchange (IDX) during the period 2019 to 2023. Profitability will be assessed through Return on Equity (ROE), while capital structure will be evaluated using the Debt to Equity Ratio (DER). Company size will be determined by the natural logarithm of its total assets, company value will be measured by Price to Book Value (PBV), and institutional ownership will function as a moderating variable. A quantitative approach will be applied in this study, using multiple linear regression and Moderated Regression Analysis (MRA). The sample for this study includes 33 companies, so the total observations are 165. The findings of this study indicate that: (1) Profitability has a positive and significant effect on company value; (2) Capital structure and company size do not have a significant effect on company value; (3) Institutional ownership increases the relationship between profitability and company value; (4) Institutional ownership reduces the influence of capital structure on firm value; (5) Institutional ownership does not play a moderating role in the relationship between firm size and firm value.

Corporate objectives encompass various dimensions, including social responsibility, corporate governance, and human resource development. Effective corporate governance mechanisms enhance a company's image and provide strategic direction aligned with organizational goals. This study employs a causal research method to examine the influence of capital structure, profitability, and leverage on firm value. The firm value is measured using the Price to Book Value (PBV) indicator, while the independent variables include the Debt to Equity Ratio (DER) for capital structure, Return on Equity (ROE) for profitability, and Time Interest Earned (TIE) for leverage. Data for this research was collected using a survey method with a quantitative approach, relying on secondary data from financial statements of companies listed on the Indonesia Stock Exchange. Multiple linear regression analysis was employed to assess the simultaneous effects of independent variables on firm value. Hypothesis testing was conducted using t-tests for individual variables and F-tests for collective impacts, with the coefficient of determination (R2) indicating the extent of explained variance. The results reveal that DER, ROE, and TIE significantly influence firm value. DER negatively impacts firm value, suggesting that companies should manage debt levels effectively to enhance PBV. ROE positively affects firm value by reflecting management efficiency and profitability, encouraging investor confidence and higher valuations. However, excessive leverage can undermine financial stability despite its potential to increase shareholder returns. Therefore, companies should maintain an optimal capital structure, balancing profitability and financial risk to maximize firm value.

This study aims to obtain empirical evidence about the effect of profitability and capital structure moderated by free cash flow on firm value. The research object is a company included in the classification of the raw material industry sector which is listed on the Indonesia Stock Exchange. The variables used as proxies for profitability return on assets (ROA) and return on equity (ROE); the capital structure variable is proxied by the debt to assets ratio (DAR) and the debt to equity ratio (DER), and the firm value is proxied by the price to book value (PBV). While the moderating variable uses free cash flow (FCF). Data analysis used multiple regression with the least squares method, and the sample selection method used purposive sampling. Based on the best model produced in this study, it is proven that free cash flow can significantly strengthen the effect of company profitability proxied by return on assets ROA and return on equity (ROE); the effect of capital structure proxied by DAR on firm value, but not as good as the direct effect of the moderated variables. The study reveals that profitability and capital structure significantly impact firm value, with free cash flow moderated by ROA. However, the model does not outperform direct effects, suggesting improved ROE, DAR management, and effective free cash flow management.

The capital market is a means to obtain funds from the public to be transferred to various business sectors in order to carry out the investment. In general, investors will be willing to invest in the capital market because there is a feeling of security in investment. Investing in the capital market, analysts and investors can make investment approaches that can be broadly divided into two approaches, technical analysis and fundamental analysis. The purpose of this study was to investigate the influence of fundamental factors : Price Earning Ratio (PER), Debt to Equity Ratio (DER), Return on Equity (ROE), and Price to Book Value (PBV) on stock returns of companies listed in the LQ 45 at the Indonesia Stock Exchange. The population consisted of 45 companies in the LQ 45 period from 2013 to 2015 and obtained 28 samples using purposive sampling technique. Based on the results of this study concluded that simultaneous Price Earning Ratio (PER), Debt to Equity Ratio (DER), Return on Equity (ROE), and Price to Bo Value (PBV) effect on stock returns of companies listed in the LQ 45 at Indonesia stock exchange. Partially, variable Price Earning Ratio (PER) and Debt to Equity Ratio (DER) significantly affects stock returns. While variable Return On Equity (ROE) and Price to Book Value (PBV) had no significant effect on stock returns. Keywords: stocks, ROE, DER, PER, PBV

This research was conducted to determine the effect of Return on Equity (ROE) on Price Earnings Ratio (PER) and Price to Book Value (PBV) in LQ45 companies listed on the Indonesia Stock Exchange (BEI). The data studied were financial reports published by 37 companies for four periods, namely 2015 to 2018. The data processing program uses the Eviews 9 program. The contribution of this article is to support investment decisions. The processing results show that ROE has a positive and significant effect on PER. and ROE has a positive and significant effect on PBV. Both are shown by the results of data processing in a positive correlation coefficient and beta coefficient. This correlation shows that in investors making investment decisions, ROE is used to make investment decisions. Then ROE will have an impact on company value. The higher the ROE, the higher the firm value will be. Furthermore, other factors influence PER and PBV, namely dividend playout ratio, return on assets, profit margin, inflation, interest rates, economic conditions, and company competition, both similar and different.

The research objective is to empirically examine the effect of dividend policy, profitability, capital structure, and investment opportunity set on firm value. The object used is the LQ45 index company on the Indonesia Stock Exchange during the period 2017-2021. The analytical tool we use is multiple linear regression using SPPS software. The results of testing 134 samples over a period of 5 years resulted in the findings of profitability with the return on equity (ROE) indicator, and the investment opportunity set with the price earning ratio (PER) indicator being able to significantly increase the company's value with the price to book value (PBV) indicator. While other findings are dividend policy with dividend payout ratio (DPR) indicator has a negative and insignificant effect on firm value (PBV). While the capital structure with the debt to equitu ratio (DER) indicator although it has a positive effect on firm value (PBV), but the results are not significant.

This study aims to examine the effect of capital structure, company size and profitability on the value of banking sector companies. Capital structure variables are proxied with Debt to Equity Ratio (DER), company size variables are proxied with natural logarithms of total assets, profitability is proxied by Return on Equity (ROE) and company value is proxied by Price to Book Value (PBV). In this study using a verifiative descriptive research method with a quantitative approach. The data in this study is secondary data obtained from the Indonesia Stock Exchange. The sample used was 138 out of 46 banking companies listed on the Indonesia Stock Exchange in 2020-2022. The data processing technique uses multiple linear regression analysis using SPSS version 25. The results of this study show that capital structure has no effect on the value of the company. While the size of the company and profitability affect the value of the company.

<p><em>This study aims to explain the effect of the variables of Capital Structure, Dividend Policy and Investment Decisions on Firm Value (a study on companies in the basic and chemical industry sectors 2016-2019). This type of research is a quantitative approach. The population of this study is the basic and chemical industrial sector companies listed on the Indonesia Stock Exchange as many as 78 companies, the determination of the sampling using purposive sampling technique through certain criteria in order to obtain a sample of 16 companies with a total of 4 years of observation. The analytical method used is the panel data regression analysis method using the Eviews 9.0 tool. The results of this study indicate that capital structure, dividend policy and investment decisions simultaneously affect firm value. While partially shows that the capital structure variable proxied by the Debt to Equity Ratio (DER) has no effect on firm value, dividend policy is proxied by the Dividend Payout Ratio (DPR) does not affect the firm value proxied by Price to Book Value. (PBV), and investment decisions proxied by Price Earning Ratio (PER) have a positive and significant effect on firm value proxied by Price to Book Value (PBV).</em><strong><em></em></strong></p>

This study aims to analyze the influence of Debt to Equity Ratio (DER), Return on Equity (ROE), and Total Asset Turnover (TATO) on Price to Book Value (PBV) in banking companies listed on the Indonesia Stock Exchange (IDX) during the 2017–2024 period. The urgency of this research stems from growing global economic uncertainty and domestic financial market volatility, which have significantly impacted the valuation of the banking sector in Indonesia. The recent decline in PBV among major banks highlights the need to reassess which financial indicators are most influential in shaping investor perceptions. This research employs a quantitative approach using multiple linear regression analysis and classical assumption testing. Secondary data were obtained from audited annual financial reports, and analysis was conducted using SPSS version 26. The results show that ROE has a positive and significant effect on PBV, indicating that profitability plays a key role in enhancing firm valuation. Conversely, DER and TATO do not have a statistically significant impact on PBV. Simultaneously, DER, ROE, and TATO collectively do not significantly affect PBV at the 5% level, although ROE remains the most dominant factor. These findings suggest that in the banking sector, market valuation is more responsive to profitability metrics than to capital structure or asset efficiency. Therefore, banks are advised to focus on improving ROE as a strategic financial objective to increase firm value and attract investors in a competitive capital market environment.

The study aims to analyze fundamental financial factors and systematic risks to the share prices of pharmaceutical companies listed on the Indonesia stock exchange. This study uses the company's share price as a dependent variable and returns on Return on Equity (ROE), Earning Per Share (EPS), Price Earning Ratio (PER), Price to Book Value (PBV), Debt to Equity Ratio (DER) and Beta stock as independent variables. Samples were taken as many as nine pharmaceutical companies listed on the Indonesia Stock Exchange (IDX) in 2010-2019. The data used in the financial statements of each sample company, published through www.IDX.co.id and www.financeyahoo.com. The analysis method used in this study is a quantitative method, with classic assumption testing and statistical analysis that is multiple linear regression analysis using a standard effect model. The sampling method used is saturated sampling. The analysis results showed that the financial ratio consisting of ROE, DER, and the Beta stock had a negative effect and did not significantly affect the stock price. EPS has a negative and significant effect on the stock price, while PER and PBV have a positive and insignificant effect on the stock price. Keywords: Return on Equity (ROE), Earning Per Share (EPS), Price Earning Ratio (PER), Price to Book Value (PBV), Debt to Equity Ratio (DER), Beta Stock and Stock Price.

The purpose of this study was to test and analyze the research model on the effect of profitability on the investment opportunity set. Other variables that we suspect influence the investment opportunity set are the capital structure and firm value. The objects in this study are companies included in the LQ45 index on the Indonesia Stock Exchange during the period 2013 – 2021. The analytical tool we use is multiple linear regression to test the effect of the independent variables on the dependent variable. The results of the main test on 298 samples over a period of 10 years resulted in profitability findings with the return on equity (ROE) indicator being able to significantly increase the price earning ratio (PER). While other findings are return on assets (ROA) which is used as an indicator of other profitability variables resulting in a positive and not significant effect on the price earning ratio (PER). The capital structure with the debt to assets ratio (DAR) indicator has a negative and significant effect on the price earning ratio (PER), while the negative and insignificant effect with the debt to equity ratio (DER) indicator. In the end, we also found that the market approach to firm value, namely price to book value (PBV), has a significant positive effect on price earning ratio (PER).

The purpose of this study is to analyze the effect of capital structure on company value in the property/real estate sector listed on the IDX (2020-2024). In this study, capital structure is measured using Return on Assets (ROA), Return on Equity (ROE) and Debt to Equity Ratio (DER) while company value uses Price to Book Value (PBV). The research methodology used is quantitative using multiple regression analysis techniques. Secondary data was obtained from the company's annual financial reports published on the IDX. The sample used in this study was 21 companies selected based on certain criteria using the Purposive sampling method. Based on the test results, it shows that ROA does not have a significant effect on Company Value, ROE does not have a significant effect on Company Value, DER does not have a significant effect on Company Value. Simultaneously ROA, ROE, and DER do not have a significant effect on Company Value. The coefficient of determination (R2) in this study is 0.000, which means that the ability of the independent variable to explain the variation of the dependent variable is 0% while the rest is explained by other independent variables outside the model.