Determinants of Firm Value on Real Estate and Property Sector

Ulum, Achmad Saiful (2022) Determinants of Firm Value on Real Estate and Property Sector. Himalayan Journal of Economics and Business Management, 3 (2). pp. 166-174. ISSN 2709-3557

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Abstract

This research belongs to the type of explanatory research. The purpose of this study is to determine the pattern of the relationship between profitability, capital structure and firm value in real estate and property sector companies. The sample in this study are real estate and property companies listed on the Indonesia Stock Exchange. the period 2016 - 2019. The data used in this study were obtained through www.idx.co.id and the websites of each real estate and property company listed on the IDX for the period 2016 - 2019. The sampling technique in this study used the purposive sampling method, namely the determination of the sample based on criteria including real estate and property companies listed on the Indonesia Stock Exchange for the 2016-2019 period, not having negative equity and profits. The data analysis technique used in this study used the SEM-PLS method with SMART-PLS software. The results showed that NPM and ROA were able to measure profitability. DAR and DER are able to measure capital structure. PER and PBV are able to measure firm value. The results showed that all hypotheses were accepted, which means that profitability has a significant positive effect on firm value, profitability has a significant positive effect on capital structure, capital structure has a significant positive effect on firm value, capital structure can partially mediate the effect of profitability on firm value. Mediation test shows that capital structure is a mediating variable between profitability and firm value. Companies must be able to increase profitability so as to improve the capital structure which will increase the value of the company. Further research can discuss and discuss research on capital structure on firm value with various different indicators such as dividend yield, dividend payout ratio, and other indicators for the company's financial performance variables as well as increasing the research period so as to produce more representative results. Keywords: Capital Structure, Firm Value, Probability, SEM-PLS.

Item Type:	Article
Subjects:	600 - TECHNOLOGY > 650 - 659 MANAGEMENT & PUBLIC RELATIONS > 658 - GENERAL MANAGEMENT > 658.15 - FINANCIAL MANAGEMENT
Divisions:	Lecturer
Depositing User:	Achmad Saiful Ulum
Date Deposited:	25 May 2022 03:29
Last Modified:	16 Sep 2022 08:41
URI:	http://eprints.perbanas.ac.id/id/eprint/9076

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