Determinants of firm value in the food and beverage industry sector: Evidence from companies listed on the Indonesia Stock Exchange

Authors

Esya Mayuni , Muhammad Salman , Tuti Meutia

DOI:

10.62941/rbar.v1i2.37

Issue:

Vol. 1 No. 2 (2024): April-June

Keywords:

Capital structure, firm growth, profitability, firm value
Received: 07/25/2024
Accepted: 09/05/2024
Published: 06/30/2024

Reseach Article

How to Cite

Mayuni, E., Salman, M., & Meutia, T. (2024). Determinants of firm value in the food and beverage industry sector: Evidence from companies listed on the Indonesia Stock Exchange. Review of Business and Accounting Research, 1(2). https://doi.org/10.62941/rbar.v1i2.37

Abstract

This study aims to determine the determinants of firm value in the food and beverage industry sector listed on the Indonesia Stock Exchange (IDX). This research is of a quantitative nature. The research population and sample consist exclusively of food and beverage companies that are publicly listed on the Indonesia Stock Exchange (BEI). The sample was selected using a purposive selection technique, consisting of 26 enterprises. The Debt to Equity (DER) ratio is used as a proxy for the capital structure of a firm. The measure of company growth is proxied by the variable called Growth. Profitability is represented by the Return On Assets (ROA) ratio. Lastly, the Price to Book (PBV) ratio is used as a proxy for the value of the company. The data analysis method employed is the traditional assumption test and multiple linear regression. The research findings indicate that the partial development of the capital structure has a noteworthy and positive impact on the value of the firm. Additionally, the expansion of the company also has a good and considerable influence on its value. However, the effect of profitability on the company value is shown to be small. All the independent variables, namely capital structure, company development, and profitability, have a simultaneous and significant beneficial impact on the value of the company.

References

Brigham, E. F. dan J. F. Houston., (2001). Manajemen Keuangan. Edisi Kedelapan. Jakarta: Erlangga.

Febrianti, M. (2012). Faktor-Faktor Yang Mempengaruhi Nilai Perusahaan Pada Industri Pertambangan Di Bursa Efek Indonesia. Jurnal Bisnis Dan Akuntansi 14 (2):141 -56.

Ghozali, I. (2009). Aplikasi Analisis Multivariate dengan Program SPSS. Semarang: Badan penerbit Universitas Diponegoro.

Halim, M. Chandra. T. & Sudarno. (2019). Analisis Faktor-Faktor Yang Mempengaruhi Struktur Modal Dan Nilai Perusahaan Sektor Makanan Dan Minuman Yang Terdaftar Di Bursa Efek Indonesia Tahun 2012-2017. Jurnal Ilmiah Manajemen. Vol. 7, No. 4. DOI: https://doi.org/10.24912/jmbk.v4i1.6793

Hermuningsih, S. (2013). Pengaruh Profitabilitas, Growth Opportunity, Struktur Modal Terhadap Nilai Perusahaan Pada Perusahaan Publik Di Indonesia. Buletin Ekonomi Moneter Dan Perbankan, 16(2), 127-148. DOI: https://doi.org/10.21098/bemp.v16i2.27

Indriawati, I. Ariesta, M. & Santoso, E. B. (2018).Pengaruh Profitabilitas,Keputusan Investasi, Pertumbuhan Perusahaan Terhadap Nilai Perusahaan Dengan Kebijakan Deviden Sebagai Variabel Intervening Pada Perusahaan Manufaktur Food And Beverageyang Terdaftar Di Bursa Efek Indonesia Tahun 2012 -2016. Journal Of Accounting. Vol. 4, No. 4.

Indriyani, E. (2017). Pengaruh Ukuran Perusahaan dan Profitabilitas Terhadap Nilai Perusahaan. Jurnal Ilmu Akuntansi, Vol. 10 (2). DOI: https://doi.org/10.15408/akt.v10i2.4649

Khoiriyah, N. (2018). Pengaruh Ukuran Perusahaan Dan Profitabilitas Terhadap Nilai Perusahaan Dengan Kebijakan Deviden Sebagai Variabel Pemoderasi: Study Empiris Pada Indeks LQ45 Di Bursa Efek Indonesia Tahun (2014-2016). Undergraduate thesis, Universitas Islam Negeri Maulana Malik Ibrahim.

Kusumajaya, D. K. O. (2011). Pengaruh Struktur Modal Dan Pertumbuhan Perusahaan Terhadap Profitabilitas Dan Nilai Perusahaan Pada Perusahaan Manufaktur Di Bursa Efek Indonesia. Universitas Udayan No. 1026

Mahzura & Syahri, T. A. (2018). Analisis Pengaruh Kinerja Keuangan, Ukuran Perusahaan, Struktur Kepemilikan, Leverage Dan Pertumbuhan Perusahaan Terhadap Nilai Perusahaan Pada Perusahaan Industri Makanan Dan Minuman Yang Terdaftar Di Bei Periode 2012-2016. Http://Repositori.Usu.Ac.Id/Handle/123456789/7049

Nurrohmah, M. A. (2020). Faktor-Faktor Yang Mempengaruhi Nilai Perusahaan Pada Perusahaan Makanan Dan Minuman Tahun 2015-2018. Https://Jurnal.Univpgri-Palembang.Ac.Id/Index.Php/Neraca/Article/View/3920 DOI: https://doi.org/10.31851/neraca.v4i2.3920

Rachman, N. A. (2016). Faktor-Faktor Yang Mempengaruhi Nilai Perusahaan Pada Sektor Industri Food And Beverages Yang Terdaftar Di Bursa Efek Indonesia (Bei) Pada Tahun 2011-2015. Jurnal Pendidikan Dan Ekonomi, 2016 - Journal.Student.Uny.Ac.Id

Rianti, R (2021). Pengaruh Profitabilitas Dan Strukur Modal Terhadap Nilai Perusahaan Pada Pt. Indofood Sukses Makmur,Tbk Yang Terdaftar Di Bursa Efek Indonesia. Http://Repository.Univ-Tridinanti.Ac.Id/Id/Eprint/3610

Ross, S. A. (1997). Some Notes On Financial Incentive-Signalling Models, Activity Choice And Risk Preferences. The Journal Of Finance. Vol. 33 No.3 DOI: https://doi.org/10.2307/2326473

Sari, O. (2013). Pengaruh Keputusan Investasi, Keputusan Pendanaan Dan Kebijakan Dividen Terhadap Nilai Perusahaan. Jurnal Analisis Manajemen, Vol. 2 (2).

Sugiyono. 2012. Metode Penelitian Pendidikan (pendekatan Kuantitatif Kualitatif dan R&D). Bandung: Alfabeta

Sugiyono. 2013. Metode Penelitian Pendidikan (Pendekatan Kuantitatif, Kualitatif, dan R&D.

Author Biographies

Esya Mayuni, Department of Accounting, Faculty of Economics, Universitas Samudra, Langsa, Indonesia

Muhammad Salman, Department of Accounting, Faculty of Economics, Universitas Samudra, Langsa, Indonesia

Tuti Meutia, Department of Accounting, Faculty of Economics, Universitas Samudra, Langsa, Indonesia

License

Copyright (c) 2024 Esya Mayuni, Muhammad Salman, Tuti Meutia

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.