PENGARUH CASH RATIO, RETURN ON ASSET, DEBT TO ASSET RATIO, CURRENT RATIO, DAN FIRM SIZE, TERHADAP NILAI PERUSAHAAN (Studi Empiris pada Perusahaan Otomotif yang Terdaftar di Bursa Efek Indonesia Tahun 2020-2023)

Abstrak

Penelitian ini bertujuan untuk menganalisis pengaruh Cash Ratio, Return on Asset (ROA), Debt to Asset Ratio (DAR), Current Ratio (CR), dan Firm Size terhadap nilai perusahaan pada perusahaan otomotif dan komponennya yang terdaftar di Bursa Efek Indonesia (BEI) periode 2020–2023. Penelitian ini menggunakan pendekatan kuantitatif dengan uji asumsi klasik (uji normalitas, multikolinearitas, autokorelasi, dan heteroskedastisitas), serta uji regresi linier berganda menggunakan uji F, uji t, dan uji koefisien determinasi (R²). Data yang digunakan merupakan data sekunder berupa laporan keuangan tahunan, dengan jumlah sampel 11 perusahaan yang dipilih melalui metode purposive sampling, sehingga diperoleh 44 observasi. Hasil penelitian menunjukkan bahwa secara simultan Cash Ratio, Return on Asset, Debt to Asset Ratio, Current Ratio, dan Firm Size berpengaruh signifikan terhadap nilai perusahaan. Secara parsial, Cash Ratio, Return on Asset, dan Current Ratio berpengaruh positif dan signifikan terhadap nilai perusahaan, Firm Size berpengaruh negatif dan signifikan terhadap nilai perusahaan, sedangkan Debt to Asset Ratio tidak berpengaruh signifikan terhadap nilai perusahaan. Nilai adjusted R² sebesar 94,6% menunjukkan bahwa variasi nilai perusahaan sebesar 94,6% dapat dijelaskan oleh kelima variabel independen dalam model, sedangkan sisanya sebesar 5,4% dipengaruhi oleh faktor lain di luar model.

Kata Kunci: Cash Ratio, Return on Asset (ROA), Debt to Asset Ratio (DAR), Current Ratio (CR), Firm Size, Nilai Perusahaan

This study aims to analyze the effect of Cash Ratio, Return on Asset, Debt to Asset Ratio, Current Ratio, and Firm Size on company value in automotive companies and their components listed on the Indonesia Stock Exchange (IDX) during the period 2020–2023. This study uses a quantitative approach with classical assumption tests (normality, multicollinearity, autocorrelation, and heteroscedasticity tests), as well as multiple linear regression tests using the F test, t test, and coefficient of determination (R²) test. The data used are secondary data in the form of annual financial reports, with a sample size of 11 companies selected through the purposive sampling method, resulting in 44 observations. The results of the study indicate that simultaneously, Cash Ratio, Return on Assets, Debt to Asset Ratio, Current Ratio, and Firm Size have a significant effect on company value. Partially, Cash Ratio, Return on Assets and Current Ratio have a positive and significant effect on firm value, Firm Size has a significant negative effect on firm value and Debt to Asset Ratio does not have a significant effect on firm value. The adjusted R² value of 94.6% indicates that 5.4% of the variation in firm value can be explained by the five independent variables in the model, while the rest is influenced by other factors outside the model..

Keywords: Cash Ratio, Return on Asset (ROA), Debt to Asset Ratio (DAR), Current Ratio (CR), Firm Size, Firm Value