PENGARUH RASIO LIKUIDITAS DAN STRUKTUR MODAL TERHADAP NILAI PERUSAHAAN PADA PT SUMBER ALFARIA TRIJAYA Tbk PERIODE 2014-2023

Abstract

This study aims to determine the effect of liquidity ratio and capital structure on firm value at PT Sumber Alfaria Trijaya Tbk during the period 2014-2023. The company value in this study is measured using the Price to Book Value (PBV) ratio, while the liquidity ratio is measured by Current Ratio (CR) and the capital structure is measured by Debt to Asset Ratio (DAR). The research method used is associative method with quantitative approach. The data analysis technique used is multiple linear regression. The results showed that partially Current Ratio has a significant negative effect on firm value, with a significance value of 0.017, a regression coefficient of -166,523.046, and a t-count of -3.120. Debt to Asset Ratio also has a significant effect on firm value, but in a negative direction, as indicated by a significance value of 0.038, a regression coefficient of -217,504.756, and a t-count of -2.549. Simultaneously, both variables have a significant effect on firm value, with a significance value of 0.018 and an F-count of 7.564. These findings indicate that financial ratios such as liquidity and capital structure are important factors that need to be considered in an effort to increase firm value.