Pengaruh Profitabilitas, Good Corporate Governance, Dan Umur Perusahaan Terhadap Nilai Perusahaan (studi Empiris Pada Perusahaan Sektor Infrastruktur, Utilitas, Dan Transportasi Yang Terdaftar Di Bursa Efek Indonesia Periode 2015 - 2019)

Cathryn Nabiila Ardianto, Leny Suzan

Abstract

Abstrak Nilai perusahaan merupakan nilai yang dibayar oleh pembeli seandainya perusahaan tersebut dijual, nilai tersebut ditunjukkan melalui harga saham perusahaan tersebut. Pada penelitian ini, nilai perusahaan diukur dengan rasio PBV (Price Book Value). Penelitian ini bertujuan untuk mengetahui pengaruh profitabilitas, good corporate governance (GCG), dan umur perusahaan terhadap nilai perusahaan pada perusahaan sektor infrastruktur, utilitas, dan transportasi yang terdaftar di Bursa Efek Indonesia (BEI) tahun 2015 – 2019. Populasi dalam penelitian ini perusahaan infrastruktur, utilitas, dan transportasi yang terdaftar di Bursa Efek Indonesia (BEI) tahun 2015 sampai dengan 2019. Teknik pemilihan sampel menggunakan purposive sampling. Penelitian ini menggunakan analisis regresi data panel dengan menggunakan software Eviews 11. Berdasarkan hasil penelitian, profitabilitas, dewan direksi, dewan komisaris independen, dan umur perusahaan secara simultan berpengaruh terhadap nilai perusahaan. Profitabilitas berpengaruh negatif terhadap nilai perusahaan secara parsial, sedangkan dewan direksi, dewan komisaris independen, dan umur perusahaan tidak bepengaruh terhadap nilai perusahaan secara parsial. Berdasarkan hasil tersebut, bagi calon investor disarankan dalam mengambil keputusan berinvestasi agar dapat melihat dan mempertimbangkan kembali nilai rasio profitabilitas dan bagi perusahaan disarankan agar dapat meningkatkan implementasi good corporate governance (GCG). Kata kunci: Nilai Perusahaan, Profitabilitas, Dewan Direksi, Dewan Komisaris Independen, Umur Perusahaan Abstract Firm value is the value paid by the buyer when the company is sold, the value is shown through the share price of the company. In this study, firm value is measured by the PBV (Price Book Value) ratio. This study aims to determine the affect of profitability, good corporate governance (GCG), and firm age on firm value in infrastructure, utility, and transportation sector companies listed on the Indonesia Stock Exchange (IDX) in 2015 – 2019. The population in this study is infrastructure, utility, and transportation companies listed on the Indonesia Stock Exchange (IDX) from 2015 to 2019. The sample selection technique used purposive sampling. This study uses panel data regression analysis using Eviews 11. Based on the results of the study, profitability, board of directors, independent board of commissioners, and firm age simultaneously affect the firm value. Profitability has a negative effect on firm value partially, while the boards of directors, independent board of commissioners, and firm do not effect on firm value partially. Based on these results, it is recommended for potential investors in making investment decisions in order to see and reconsider the value of the profitability ratios and for companies it is recommended to improve the implementation of good corporate governance (GCG). Keywords: Firm Value, Profitability, Board of Directors, Independent Board of Commissioners, Firm Age

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