Firms’ value determinants: evidence from Jakarta Islamic Index (JII)

Authors

  • Septila Faradita Fakultas Ekonomi dan Bisnis Islam UIN Antasari, Indonesia
  • Zaki Mubarak Fakultas Ekonomi dan Bisnis Islam UIN Antasari, Indonesia

DOI:

https://doi.org/10.29040/jiei.v8i3.6200

Keywords:

Company Value, Debt to Equity Ratio, Liquidity, Company Size, Profitability

Abstract

Several factors, including the debt-to-equity ratio (DER), liquidity, firm size, and profitability, are believed to be capable of influencing the value of a company. However, the results of prior research indicate that there is a gap in knowledge. This study aims to investigate the impact of DER, current ratio (CR) and quick ratio (QR), firm size, the return of assets (ROA) and the return of equity (ROE) on the value of companies as measured by Tobin's q. The research employed a quantitative approach, including secondary data gathered from the Indonesia Stock Exchange's official website. Multiple regression is the type of analysis employed. The sampling strategy employs the purposive sampling method, with 22 sample companies selected from a population of 47 companies. This study was conducted on JII listed firms between 2017 and 2020. The results suggested that the DER, liquidity, company size, and profitability all had simultaneous effects on the value of the company, as evidenced by a significance value of 0.000 and a F value of 85.035. The significance value is greater than 0.05, indicating that DER, current ratio, quick ratio, company size, and ROA have no effect on the company's value. In the meantime, the ROE variable has a marginal impact on the value of the company, with a significance value of 0.000<0.05.

References

Ayu, I. G., & Novita, D. (2019). PENGARUH PROFITABILITAS , UKURAN PERUSAHAAN , STRUKTUR MAKANAN DAN MINUMAN. E-Jurnal Manajemen, 8(4), 2297–2324. https://doi.org/https://doi.org/10.24843/EJMUNUD.2019.v8.i4.p15

Chasanah, A. N. (2019). Pengaruh Rasio Likuiditas, Profitabilitas, Struktur Modal Dan Ukuran Perusahaan Terhadap Nilai Perusahaan Pada Perusahaan Manufaktur Yang Terdaftar Di Bei Tahun 2015-2017. Jurnal Penelitan Ekonomi Dan Bisnis, 3(1), 39–47. https://doi.org/10.33633/jpeb.v3i1.2287

Dewi, V. S., & Ekadjaja, A. (2020). PENGARUH PROFITABILITAS, LIKUIDITAS, DAN UKURAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN MANUFAKTUR. Jurnal Multiparadigma Akuntansi Tarumanagara, 2(1), 118–126.

Huda, N., & Nasution, M. E. (2007). Investasi pada pasar modal syariah / Nurul Huda, Mustafa Edwin Nasution (I). Kencana.

Jayanti, F. D. (2018). Pengaruh Profitabilitas, Struktur Modal, Likuiditas dan Ukuran Perusahaan Terhadap Nilai Perusahaan. Jurnal Bingkai Ekonomi, 3(2), 34–44.

Kurnia, D. (2017). Analisis signifikansi leverage dan kebijakan deviden terhadap nilai Perusahaan. Jurnal Akuntansi Kajian Ilmiah Akuntansi, 4(2), 12–21.

Manoppo, H., & Arie, F. V. (2016). PENGARUH STRUKTUR MODAL, UKURAN PERUSAHAAN DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN OTOMOTIF YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2011-2014. Jurnal EMBA, 4(2), 485–497.

Muhammad Fala Dika, H. P. (2020). Kata Kunci: EPS, ROA, DER , Harga Saham. Nominal: Barometer Riset Akuntansi Dan Manajemen, 9(2).

Nafisah, N. I., Halim, A., & Sari, A. R. (2020). Pengaruh Return on Assets (Roa), Debt To Equity Ratio(Der), Current Ratio (Cr), Return on Equity (Roe), Price Earning Ratio (Per), Total Assets Turnover (Tato), Dan Earning Per Share (Eps) Terhadap Nilai Perusahaan Manufaktur Yang Terdaftar Di Bei. Jurnal Riset Mahasiswa Akuntansi, 6(2), 1–17. https://doi.org/10.21067/jrma.v6i2.4217

Ogolmagai, N. (2013). Leverage Pengaruhnya Terhadap Nilai Perusahaan pada Industri Manufaktur yang Go Public Di Indonesia. Jurnal EMBA, 1(3), 81–89.

Oktrima, B. (2015). MODAL TERHADAP NILAI PERUSAHAAN. Jurnal Sekuritas Manajemen Keuangan, 1(2581), 98–107.

Putri, D. E., & Sari, E. P. (2020). Dampak CR, DER dan NPM terhadap Tobin`s Perusahaan Sub Sektor Kosmetik dan Barang Keperluan Rumah Tangga yang terdaftar di BEI. Jesya (Jurnal Ekonomi & Ekonomi Syariah), 3(2), 249–255. https://doi.org/10.36778/jesya.v3i2.195

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. In Universitas Negeri Yogyakarta.

Rahayu, M., & Sari, B. (2018). FAKTOR-FAKTOR YANG MEMPENGARUHI NILAI PERUSAHAAN. 2(74), 69–76.

Downloads

Published

02-11-2022

How to Cite

Faradita, S., & Mubarak, Z. (2022). Firms’ value determinants: evidence from Jakarta Islamic Index (JII). Jurnal Ilmiah Ekonomi Islam, 8(3), 3207–3212. https://doi.org/10.29040/jiei.v8i3.6200

Issue

Vol. 8 No. 3 (2022): JIEI : Vol.8, No.3, 2022

Section

Articles

Citation Check

License

The copyright of the article fully belongs to the Jurnal Ilmiah Ekonomi Islam and publishing rights belong entirely to LPPM STIE AAS Surakarta

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

Similar Articles

1 2 3 4 5 6 7 8 9 10 > >> 

You may also start an advanced similarity search for this article.