ANALISIS PENGARUH PROFITABILITAS, UKURAN PERUSAHAAN, PERTUMBUHAN PERUSAHAAN, DAN STRUKTUR MODAL TERHADAP NILAI PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA

This research aims to analyse the development of firm value of the manufacture companies. Based on the data of the Indonesian Ministry of Industry, it shows that value added for manufacturing companies increase, and also increase the contribution of manufacture companies to the development of economic of Indonesia. Profitability, size, growth, and capital structure as independent variables are used to identify the influence of manufacture firm value. There shall be 166 samples of listed manufacture companies in Indonesia Stock Exchange in 2014-2018 which suit for criteria needed, and the data processing using multiple linear regression. The research result shows that only profitability and size variables which have positive significant influences to firm value variable on t- test. Besides, growth and capital structure variables are vice versa.

Pengaruh Firm Size dan Market to Book Ratio terhadap Return Portofolio

Tujuan penelitian – To examine effect of firm size and market to book ratio on portfolio return.Desain/Metodologi/Pendekatan – Research sample consists of manufacture firm stock listed in Indonesian Stock Exchange 2011-2013. Portfolio return measured by excess return of average 5 highest return and 5 lowest return. Portfolio firm size measured by differences of average return of 5 biggest firm size with 5 smallest firm size. Portfolio book to market ratio measured by differences of average return of 5 highest book to market ratio with 5 lowest book to market ratioTemuan – Based on regression analysis, firm size and book to market ratio have negative effect on portfolio return. The result confirms existence of three factor model in return determination. Investor captures the size effect and financial distress indication of book to market ratio in return estimation and stock investment decision making.Keterbatasan penelitian – This research only used manufacture firm as sample, so the result could not be generalized to all firm population at Indonesia Stock Exchange. This research also did not separate between active stock and inactive stock which were traded monthly, so it probably there was bias return calculation because of the inactive stock.Originality/value – the high of book to market ratio showed that the firm had bad performance and tend to financial distress or poor prospect.

THE EFFECT OF PROFITABILITY, LIQUIDITY, GROWTH SALES, OPERATING LEVERAGE AND TANGIBILITY ON CAPITAL STRUCTURE (evidence from manufacture firm listed on Indonesia stock exchange in 2011- 2014)

The purpose of this study is to know the effect of profitability, liquidity, sales growth, operating leverage and tangibility on capital structure: evidence from manufacture firm listed on Indonesia Stock Exchange in 2011-2014. The sample using in this study is 41 companies. The research model in this study employs panel data analysis (unbalanced panel) with fixed effect approach. The result show that profitability and liquidity have negative and significant effect on capital structure. Sales growth and operating leverage have positive but not significant effect on capital structure. Tangibility have negative and not significant effect on capital structure. Key words: Profitability, liquidity, sales growth, operating leverage, tangibility, capital structure, manufacture firm