PENGARUH DEBT TO EQUITY RATIO (DER), RETURN ON EQUITY (ROE), FIXED ASSET RATIO (FAR), DIVIDEND PAYOUT RATIO (DPR) TERHADAP NILAI PERUSAHAAN PADA LQ-45 YANG TERDAFTAR DI BURSA EFEK INDONESIA PADA TAHUN 2018-2023.
THE EFFECT OF DEBT TO EQUITY RATIO (DER), RETURN ON EQUITY (ROE), FIXED ASSET RATIO (FAR), DIVIDEND PAYOUT RATIO (DPR) ON COMPANY VALUE IN LQ-45 LISTED ON THE INDONESIA STOCK EXCHANGE IN 2018-2023.
Keywords:
DER, ROE, FAR, DPR, PBV, Nilai Perusahaan, LQ-45, Bursa Efek IndonesiaAbstract
This study aims to analyze the effect of Debt to Equity Ratio (DER), Return on Equity (ROE), Fixed Asset Ratio (FAR), and Dividend Payout Ratio (DPR) on firm value as proxied by Price to Book Value (PBV) in companies listed in the LQ 45 index on the Indonesia Stock Exchange (IDX) for the period 2018-2023. This is an associative quantitative study using secondary data obtained from the financial reports of LQ-45 companies. The sample consisted of 16 companies selected based on specific criteria, resulting in 96 annual observations. The data were analyzed using panel data regression with the Random Effect Model (REM) approach. The results show that, partially, DER and ROE have a positive and significant effect on firm value, while FAR and DPR do not have a significant effect. These findings imply that funding policy and profitability play an essential role in determining firm value, particularly in navigating market dynamics before, during, and after the COVID-19 pandemic
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