Effect of Activities on the Value of Chemical Sub-Sector Companies Listed on the Indonesia Stock Exchange

Authors

  • Ady Inrawan STIE Sultan Agung Pematangsiantar
  • Debi Eka Putri STIE Sultan Agung Pematangsiantar
  • Anggraini Syahputri Universitas Tanjung Pura
  • Emi Masyitah Universitas Potensi Utama
  • Gilbert Lieyadi STIE Sultan Agung Pematangsiantar

DOI:

https://doi.org/10.32493/eaj.v7i3.y2024.p71-77

Abstract

The study aims to evaluate two main aspects: first, to provide an overview of activities and company values among Chemical Sub-Sector companies listed on the Indonesia Stock Exchange, and second, to investigate how these activities impact the companies' values. The research design is based on library research, focusing on all Chemical Sub-Sector companies listed as of December 31, 2022. The study employs purposive sampling and combines both qualitative and quantitative descriptive analysis methods. Analytical techniques used include classical assumption tests, simple regression analysis, correlation coefficients, and hypothesis testing. The findings reveal several key points: Firstly, the average level of activity among these companies has shown a tendency to decrease, while their values have generally increased. Secondly, the simple regression analysis indicates that activity does not significantly affect company value, with a negative relationship observed. Thirdly, both the correlation coefficient and determination analysis suggest a very weak relationship between activity levels and company value. Finally, the t-test results confirm that activity has a negative and statistically insignificant impact on company value.

Keywords: Activity, Company Value.

References

Andayani, N. S., Wiksuana, I. B., & Sedana, I. B. P. (2017). Kinerja keuangan sebelum dan sesudah IPO dan pengaruhnya terhadap nilai perusahaan PT Garuda Indonesia (PERSERO) Tbk. E-Jurnal Ekonomi dan Bisnis Universitas Udayana, 6(3), 881–908. Available at: https://ojs.unud.ac.id/index.php/EEB/article/view/25211/17250

Berry, Y., et al. (2023). Manajemen keuangan (strategi mengelola keuangan yang efektif). Efitra (Ed.). PT. Sonpedia Publishing Indonesia.

Brigham, E., & Houston, J. F. (2018). Dasar-dasar manajemen keuangan (14th ed.). Jakarta: Salemba Empat.

Ilham, R. N., Sinaga, S., Putri, D. E., Sinta, I., & Fuadi, F. (2021). Efek Dari Leverage Dan Ukuran Perusahaan Dalam Memengaruhi Tingkat Profitabilitas. Jurnal Ilmiah Edunomika, 5(02), 466221.

Ilham, R. N., Putri, D. E., Sinurat, M., Likdanawati, L., & Sinta, I. (2021). PENGARUH RASIO KEUANGAN TERHADAP PERUBAHAN LABA (Studi Empiris Perusahaan Consumer Good Yang Terdaftar Di BEI Periode 2015-2019). Jurnal Akuntansi dan Pajak, 22(2), 587-596.

Lase, A. Z., Jubi, J., Susanti, E., & Putri, D. E. (2019). Pengaruh Likuiditas, Aktivitas Dan Profitabilitas Terhadap Nilai Perusahaan Pada Perusahaan Sub Sektor Kabel Yang Terdaftar Di Bursa Efek Indonesia. Sultanist: Jurnal Manajemen Dan Keuangan, 7(1), 56-63.

Musthafa. (2017). Manajemen keuangan. Yogyakarta: ANDI. Available at: https://books.google.co.id/books?id=4VJLDwAAQBAJ&printsec=copyright&hl=id&source=gbs_pub_info_r#v=onepage&q&f=false

Noviyanti, D., & Ruslim, H. (2019). Pengaruh struktur modal, profitabilitas, rasio aktivitas terhadap nilai perusahaan. Jurnal Manajerial dan Kewirausahaan, 3(1), 34–41. Available at: https://doi.org/10.24912/jmk.v3i1.11285

Putri, D. E., Ilham, R. N., & Syahputri, A. (2021). Efek Mediasi Profitabilitas Pada Pengaruh Leverage Dan Ukuran Perusahaan Terhadap Nilai Perusahaan. Jurnal Ilmiah Edunomika, 5(02), 465082.

Rizkika, A. B., & Djawoto. (2022). Pengaruh likuiditas, aktivitas, dan profitabilas terhadap nilai perusahaan pada perusahaan pertambangan yang terdaftar di BEI. Jurnal Ilmu dan Riset Manajemen, 11(10), 1–14. Available at: http://jurnalmahasiswa.stiesia.ac.id/index.php/jirm/article/view/4959/4970

Sembiring, L. D., et al. (2016). Pengaruh likuiditas, leverage, dan profitabilitas terhadap nilai perusahaan pada PT Adhi Karya (Persero), Tbk yang terdaftar di Bursa Efek Indonesia. Jurnal SULTANIST, 5(2), 66–73. Available at: https://doi.org/10.37403/sultanist.v4i2.75

Syahyunan. (2015). Manajemen keuangan perencanaan, analisis dan pengendalian keuangan (2nd ed.). Medan: USU Press.

Swastika, N., & Agustin, S. (2021). Pengaruh profitabilitas, solvabilitas, dan aktivitas terhadap nilai perusahaan food and beverage yang terdaftar di BEI. Jurnal Ilmu dan Riset Manajemen, 10(1). Available at: http://jurnalmahasiswa.stiesia.ac.id/index.php/jirm/article/view/3890/3901

Tiana, C. A., & Triyonowati. (2020). Pengaruh struktur modal, profitabilitas, dan rasio aktivitas terhadap nilai perusahaan (studi pada sektor property dan real estate periode 2015-2018). Jurnal Ilmu dan Riset Manajemen, 9(7). Available at: http://jurnalmahasiswa.stiesia.ac.id/index.php/jirm/article/view/3106/3121

Wijaya, C., & Rifa’i, M. (2016). Dasar-dasar manajemen. Medan: PERDANA PUBLISHING. Available at: https://www.academia.edu/4463866

Additional Files

Published

2024-09-29

Issue

Vol. 7 No. 3 (2024): EAJ (Economics and Accounting Journal)

Section

Articles

License

Copyright (c) 2024 Ady Inrawan, Debi Eka Putri, Anggraini Syahputri, Emi Masyitah, Gilbert Lieyadi

Creative Commons License

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

Authors who publish with this journal agree to the following terms:

  1. Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
  2. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
  3. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).

 

<a rel="license" href="http://creativecommons.org/licenses/by-sa/4.0/"><img alt="Creative Commons License" style="border-width:0" src="https://i.creativecommons.org/l/by-sa/4.0/88x31.png" /></a><br />This work is licensed under a <a rel="license" href="http://creativecommons.org/licenses/by-sa/4.0/">Creative Commons Attribution-ShareAlike 4.0 International License</a>.