Peran Profitabilitas Dalam Memoderasi Pengaruh Leverage, Likuiditas Terhadap Nilai Perusahaan
DOI:
https://doi.org/10.31004/joecy.v6i2.14340Keywords:
nilai perusahaan, leverage, likuiditas, profitabilitasAbstract
Penelitian ini bertujuan mengeksplorasi dampak leverage dan likuiditas terhadap nilai perusahaan, serta menganalisis peran profitabilitas sebagai variabel moderasi subsektor makanan dan minuman di IDX selama 2022-2024. Nilai perusahaan diukur dengan PBV, leverage dengan DER, likuiditas dengan CR, dan profitabilitas dengan ROA. Pendekatan kuantitatif digunakan dengan data panel ini. 177 data observasi dari 59 entitas didapat melalui puposive sampling. Model FEM yang terpilih diperkuat menggunakan robust standard errors. Hasilnya, pengaruh leverage berdampak negatif dengan nilai perusahaan. Tinggi nya utang cenderung menurunkan nilai suatu entitas dimata investor. Likuiditas juga berdampak negatif signifikan dengan nilai perusahaan, yang menunjukkan likuiditas berlebih bisa dianggap sebagai ketidakefisienan pengelolaan aset lancar. Profitabilitas terbukti belum mampu memperkuat atau memperlemah keterkaitan leverage dengan nilai perusahaan. Namun mampu memperkuat efek negatif likuiditas pada nilai perusahaan. Perusahaan perlu mengelola tingkat utang dan kemampuan rasio lancarnya secara optimal dengan, tetap fokus pada peningkatan profitabilitas, agar penilaian terhadap nilai perusahaan nya meningkat.
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