Pengaruh Likuiditas dan Keputusan Investasi terhadap Nilai Perusahaan dengan Profitabilitas Sebagai Variabel Intervening

Suryani, Disty Wahyu and Yeni, Fitri (2022) Pengaruh Likuiditas dan Keputusan Investasi terhadap Nilai Perusahaan dengan Profitabilitas Sebagai Variabel Intervening. Jurnal EKOBISTEK Fakultas Ekonomi. ISSN 2301-5268

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Abstract

This study intended to estimate the influences of liquidity and investment decision on firm value with profitability as an intervening variable. The population of this study are manufacturing companies listed on the Indonesia Stock Exchange for the period 2018 to 2020, that is 193 with the number of samples used are 93 companies with the sampling method using purposive sampling. The study design used was quantitative by collecting secondary data. This study uses path analysis method with SPSS 25 data processing tool. The independent variables in this study are Liquidity (CR) and Investment Decisions (PER), while the dependent variable is Firm Value (NP) and Profitability (ROA) as intervening variables. The results of study showed that that Liquidity (CR) and Investment Decision (PER) have a significant effect on Profitability (ROA) in manufacturing companies listed on the Indonesia Stock Exchange for the period 2018-2020. Liquidity (CR) and Investment Decision (PER) have a significant effect on Firm Value (NP) while Profitability (ROA) has no significant effect on Company Value (NP) in manufacturing sector companies listed on the Indonesia Stock Exchange for the 2018-2020 period. Profitability (ROA) is not able to.mediate.the.relationship.between.Liquidity (CR) and Firm Value (NP) in manufacturing companies listed on the Indonesia Stock Exchange for the 2018-2020 period. Profitability (ROA) is able to mediate the relationship between Investment Decisions (PER) on Firm Value (NP) in manufacturing sector companies listed on the Indonesia Stock. Exchange for the 2018- 2020 period. The contribution of liquidity (CR) and investment decision (PER) to profitability (ROA) by 12,9% while 87,1% is a variables outside te research that has been done. Contribution of liquidity, investment decision and profitabiity of 26% while 74% are variales outside the research that has been done. Recommendations for further research use variables that can be determining factors in increasing firm value, such as dividend policy, debt policy, ownership struktur, funding devisions, cpital expenditure, leverage, company growth, and so on. Adding the research period to 5 periods and increasing the number of samples.

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