PENGARUH PROFITABILITAS, LIKUIDITAS, DAN SOLVABILITAS TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN FARMASI YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2015-2019

Abstract

This research aims to determine the influence of profitability, liquidity, solvency to company value in the pharmaceutical sector listed in Indonesia Stock Exchange. The population in this research is all the pharmaceutical companies listed in Indonesia Stock Exchange with total of 8 companies during 2015-2019 periods. Sampling method used purposive sampling with result 8 companies as samples. Data analysis techniques used are multiple regression analysis with classical assumption test. The results show that profitability has a significant positive effect to firm value in the pharmaceutical sector on the Indonesia Stock Exchange for the 2015-2019 period, while liquidity has an insignificant negative effect, and solvency has an insignificant positive effect to firm value in the pharmaceutical sector on the Indonesia Stock Exchange for the 2015-2019 period. Profitabilitas partially has a positive and significant effect on company value with a significance value of  0,000, Likuiditas partially has a negative and significant effect on company value with a significance value 0,042, and Solvabilitas partially has a positive and insignificant effect on company value with a significance value of 0,077. Simultaneously, the variables Profitabilitas, Likuiditas, Solvabilitas have a significant effect on company value with a significance value of 0,000. The coefficient determinant (R2) is 0,445 which means 44,5% company value variation explained by three independent variables, where as 55,5% explained by another variables which is not followed