PENGARUH RETURN ON ASSET, DEBT TO ASSET RATIO, DAN UKURAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN (STUDI EMPIRIS PADA PERUSAHAAN MANUFAKTUR SEKTOR INDUSTRI BARANG KONSUMSI YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2016-2020)

Abstract

This study aims to analyze the effect of return on assets, debt to asset ratio, and firm size on firm value in manufacturing companies in the comsumer goods industry sector listed on the Indonesia Stock Exchange 2016-2020. The research methodology used is a quantitative method with panel data and, using secondary data obtained from the Indonesia Stock Exchange website and the company’s official website. The sampling technique used was purposive sampling with annual data and the research period from 2016 to 2020. The data analysis technique used was multiple linear regression of panel data by performing desciptive statistical test, classical assumption test (normality test, multicollinearity, heteroscedasticity) and hypothesis testing t- statistics and-f-statistics to test the significance of the effect together with a significant level of 5%. The results of this study indicate that partially the Return on Assets, Debt to Asset Ratio variables have a positive and significant effect on Firm Value, and the Firm Size variable has a negative but not significant effect on Firm Value. Meanwhile, simultaneously, the Return on Assets, Debt to Asset Ratio, and Company Size variables have a significant relationship with the dependent variable, namely Firm Value. The coefficient of determination from this study shows a figure of 21%. This shows that the variation of the independent variables Return on Assets, Debt to Asset Ratio, and Company Size is able to explain the variation up and down of the Firm Value variable by 21% while the remaining 79% is influenced by other variables