Pengaruh Current Ratio, Debt to Equity Ratio, Return on Assets Ratio, dan Return on Equity Ratio pada Price to Book Value bagi Sepuluh Emiten Konsumer yang terdaftar di Bursa Efek Indonesia (BEI), Periode 2015-2024 (Pendekatan Model Regresi Data Panel)

Rambe, Angelia Clairine Felicia (2025) Pengaruh Current Ratio, Debt to Equity Ratio, Return on Assets Ratio, dan Return on Equity Ratio pada Price to Book Value bagi Sepuluh Emiten Konsumer yang terdaftar di Bursa Efek Indonesia (BEI), Periode 2015-2024 (Pendekatan Model Regresi Data Panel). Sarjana (S1) thesis, STIE Tri Bhakti.

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Abstract

This study aims to analyze the effect of financial ratios consisting of Current Ratio (CR), Debt to Equity Ratio (DER), Return on Assets (ROA), and Return on Equity (ROE) on firm value, which is measured using Price to Book Value (PBV). The research objects are ten consumer goods companies listed on the Indonesia Stock Exchange (IDX) during the period 2015 to 2024. This study uses secondary data obtained from the annual financial statements of each company. The analytical method employed is panel data regression using the Fixed Effect Model (FEM) with robust standard error correction to address heteroskedasticity. The selection of the best model was carried out using the Chow test, Hausman test, and Lagrange Multiplier test. The results show that, partially, only the DER variable has a negative and statistically significant effect on PBV. Meanwhile, the variables CR, ROA, and ROE have a positive but statistically insignificant effect. Simultaneously, the four independent variables have a significant effect on firm value. The adjusted coefficient of determination (Adjusted R²) of 0.8271 indicates that the model explains 82.71% of the variation in firm value. This study concludes that capital structure, represented by DER, is a key factor influencing market perceptions of firm value in the consumer goods sector in Indonesia. Meanwhile, liquidity and profitability ratios contribute to firm value, although their impact is not yet statistically significant.

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