PENGARUH STRUKTUR MODAL DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN FARMASI (PT. KALBE FARMA TBK) PERIODE 2010-2022
Abstract
This research aims to determine whether there is an influence of Capital Structure (Debt to Equity Ratio) on Company Value (Price Earning Ratio) partially, whether there is an influence of Profitability (Net Profit Margin) on Company Value (Price Earning Ratio) partially, whether there is an influence Capital Structure (Debt to Equity Ratio) and Profitability (Net Profit Margin) on Company Value (Price Earning Ratio) simultaneously in the pharmaceutical company PT. Kalbe Farma Tbk which is listed on the Indonesia Stock Exchange (BEI) for the 2010-2022 period. The research method used is a quantitative method with descriptive analysis techniques. The data used is secondary data in the form of annual financial reports at PT. Kalbe Farma Tbk, the data was tested using the Statistical Product Service and Solution (SPSS) application program version 27.0. The data analysis used is descriptive statistical tests, classical assumption tests, regression analysis, coefficient of determination, t test, f test. Based on the results of the model suitability test, it shows that partially the capital structure (Dear to Equity Ratio) does not have a significant effect on company value (Price Earning Ratio) where the calculated T is 0.407 < T table 2.262 with a significant level of 0.069 > 0.05 and partially Profitability ( Net Profit Margin) does not have a significant effect on Company Value (Price Earning ratio) where T calculated is -1.735 < T table 2.262 with a significance level of 0.111 > 0.05. Meanwhile, based on the simultaneous F Test, Capital Structure (Debt to Equity Ratio) and Profitability (Net Profit Margin) have no significant effect on Company Value (Price Earning Ratio) where F count is 2.138 > F table 4.10 with a significance value of 0.169 > 0, 05. Then the R Square value was obtained at 29.9% while the remaining 70.1% was influenced by other factors that were not explained by other variables in the research.
References
AF, James, Stoner dan R. Edward Freeman, Manajemen diterjemahkan oleh Wilhelmus W. Bakowatun dan Benyamin Molan, Jakarta Intermedia, (2012)
Agus, Harjito., & Martono, SU. (2014). Cetakan keempat. “Manajemen Keuangan” edisi ke 2. Yogyakarta. Ekonisia. Alfabeta.
Amirullah. (2015). Pengantar Manajemen. Jakarta: Mitra Wacana Media.
Anwar, M. (2019). Dasar-Dasar Manajemen Keuangan Perusahaan. Jakarta: Bandung: Alfabeta.
Brigham, E. F., & Houston, J. F. (2020). Dasar-Dasar Manajemen Keuangan (14 ed). (N Sallama, & F. Kusumastuti, Penerj). Jakarta: Salemba Empat.
Budi Raharjo. (2009). Keuangan dan Akuntansi untuk Manajer Non Keuangan. Edisi Pertama. Yogyakarta: Graha Ilmu.
Daft Richard L. (2014) "Era Baru Manajemen". Edisi Kesembilan. Jakarta: Salemba Empat.
F. (2022). Manajemen keuangan. Penerbit Widina. Hery. (2017). Analisis Laporan Keuangan. Jakarta: Grasindo.
Ghozali, I. (2019). Aplikasi Analisis Multivariate dengan Program IBM SPSS 25.
Ghozali, Imam. (2018). Aplikasi Analisis Multivariate dengan Program IBM SPSS
Ghozali, Imam. (2019). Analisis Multivariat dan Ekonomitrika. Semarang: Badan Penerbit Universitas Diponegoro.
Handini, S. (2020). Buku Ajar Manajemen Keuangan . Surabaya: Scopindo Media Pustaka.
Hasan, S., Elpisah, E., Sabtohadi, J., Nurwahidah, M., Abdullah, A., & Fachrurazi,
Hery. (2015). Analisis Laporan Keuangan. Edisi I. Yogyakarta: Center For Academic Publishing (CAPS).
I Made Sudana. 2016. Manajemen Keuangan Perusahaan Teori dan Praktik Jakarta: Erlangga
Indrarini, M. S. (2020). Nilai Perusahaan Melalui Kualitas Laba. Surabaya: Scopindo Media Pustaka.
Irhami, F. (2016). “Pengantar Manajemen Keuangan”. Penerbit: Alfabeta, Bandung.
Jatmiko, D. (2017). Pengantar Manajemen Keuangan . Yogyakarta: Diandra Kreatif.
Jhon, S. (2018). Manajemen. Yogyakarta: UGM PRESS.
Kariyoto. (2018). Manajemen Keuangan Konsep dan Implementasi. Malang: UB Press.
Languju, Octavia, Marjam Mangantar, and Hizkia H.D. Tasik. (2016). "Pengaruh Return on Equity, Ukuran Perusahaan, Price Earning Ratio Dan Struktur Modal Terhadap Nilai Perusahaan Property and Real Estate Terdaftar Di Bursa Efek Indonesia. “Jurnal Berkala Efisiensi 16(2): 387-98
Nengsih, Rita, “Pengaruh Current Ratio, Net Profit Margin dan Modal Terhadap Nilai Perusahaan, ”Jurnal Humaniora: Jurnal Ilmu Sosial, Ekonomi dan Hukum 4.1 (2020): 120-129.
Nurhayati, M., Oktiwiati, E., (2020) Pengaruh Profitabilitas, Struktur Modal dan Keputusan Investasi Terhadap Nilai Perusahaan (Pada Sektor Farmasi yang Terdaftar di Bursa Efek Indonesia Tahun 2013-2017). Jurnal Ilmiah Manajemen.
Paminto, A., Setyadi, D., & Sinaga, J. (2016). The Effect of Capital Structure , Firm Growth and Dividend Policy on Profitability and Firm Value of the Oil Palm Plantation Companies in Indonesia. European Journal of Business and Management, 8(33), 123–134
Pardede, Rotua Desisari, et al. "Pengaruh Kebijakan Deviden, Net Profit Margin (NPM) dan Current Ratio Terhadap Nilai Perusahan Pada Perusahaan Property dan Real Estate yang Terdaftar di Bursa Efek Indonesia Periode 2012-2016. "Jurnal Akrab Juara 4.2 (2019): 80-94.