The Effect Of Current Ratio, DebtThe Effect Of Current Ratio, Debt To Equity Ratio And Return On Assets On Company Value To Equity Ratio And Return On Assets On Company Value
Abstract
The management of a company that has gone public is responsible for maximizing the value of the company in order to maximize the return of the company owner. One way to maximize company value is to improve company performance which can be measured through financial ratios. In this study, the ratios used are Current Ratio as a proxy for the liquidity ratio, Debt to Equity Ratio as a proxy for the solvency ratio and Return On Assets as a proxy for the profitability ratio. The data used in this study are secondary data obtained historically in financial reports published by the Indonesia Stock Exchange 2012-2016. The method used in this research is descriptive and verification methods with a quantitative approach. The analysis technique used is panel power regression analysis using the Eviews 9 tool. The results of this study indicate that partially Current Ratio has no effect on firm value, with t-count value 0.152127 <t-table 2.03951 and sig. amounting to 0.8801> 0.05. Debt to Equity Ratio affects firm value, with a t-count value of 2.062743> t-table 2.03951 and a sig. amounting to 0.0476 <0.05. Return On Assets has an effect on firm value, with a t-count value of 3.058731> t-table of 2.03951 and a significance value of 0.0046 <0.05. Current Ratio, Debt to Equity Ratio and Return On Assets simultaneously affect firm value, by obtaining the calculated F value of 3.305611 which is greater than the F table value of 2.91 and the sig value. of 0.032986 <0.05.
Keywords: Current Ratio, Debt to Equity Ratio, Return On Assets, Firm Value, Price to Book Value
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