The Influence Of Profitability Ratio, Liquidity Ratio, Firm Size And Inventory Turnover On Firm Value (Pbv)
(Study On Food And Beverage And Cosmetics And Household Sub-Sector Manufacturing Companies Listed On The Indonesia Stock Exchange 2016-2021 Period)
1Ardisa Pramudita, 2Rilla Gantino
1,2Faculty of Economics and Business,Esa Unggul University, Jakarta
https://doi.org/10.47191/jefms/v6-i1-04ABSTRACT:
This study aims to analyze the comparative effect of profitability, liquidity, company size, and inventory turnover on firm value. Empirical studies of manufacturing companies in the food and beverage and cosmetics sub-sector and households listed on the IDX in 2016-2021. Profitability is proxied by ROE using the formula net profit divided by equity. Liquidity is proxied by CR using current assets divided by current liabilities. Company size proxied by SIZE using natural logarithm (total assets). Inventory Turnover is proxied by ITO using the formula Cost of Goods Sold divided by average inventory. And the value of the company proxied by PBV is the share price divided by the book value per share.
The results of hypothesis testing simultaneously show that profitability, liquidity, firm size, and inventory turnover have a significant effect on firm value. Partially, profitability has no significant effect on the company value of the food and beverage sub-sector, while profitability has a significant and positive effect on the company value of the cosmetics and household sub-sectors. Liquidity has a significant and positive effect on firm value in the food subsector, while liquidity has no effect on firm value in the cosmetics and household subsectors. Firm size has a significant and positive effect on firm value in the food and beverage subsector, while firm size has no effect on firm value in the cosmetics and household subsectors. Inventory Turnover has no effect on firm value in the food and beverage subsector, while Inventory Turnover has a significant and positive effect on firm value in the cosmetics and household subsectors.
KEYWORDS:
Profitability, Liquidity, Firm Size, Inventory Turnover and Firm Value
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