Dampak Likuiditas, Solvabilitas, dan Profitabilitas terhadap Nilai Perusahaan pada Emiten Energi Tahun 2021-2024
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Abstract
Penelitian ini dilakukan untuk mengkaji bagaimana rasio likuiditas, solvabilitas, dan profitabilitas memengaruhi nilai perusahaan pada emiten subsektor energi terbarukan yang tercatat di Bursa Efek Indonesia periode 2021–2024. Pesatnya perkembangan sektor energi terbarukan di Indonesia menjadikan evaluasi kinerja keuangan dan dampaknya terhadap nilai pasar perusahaan semakin penting. Studi ini menerapkan metode kuantitatif dengan analisis regresi linier berganda serta serangkaian uji asumsi klasik guna memastikan kelayakan model. Data yang digunakan berasal dari laporan keuangan tahunan yang telah diaudit, dan pemilihan sampel dilakukan dengan teknik purposive sampling sehingga terkumpul 128 observasi. Hasil analisis menunjukkan bahwa secara parsial rasio likuiditas (CR) dan solvabilitas (DER) tidak memberikan pengaruh signifikan terhadap nilai perusahaan, yang berarti investor tidak menjadikan kemampuan memenuhi kewajiban jangka pendek maupun proporsi utang sebagai penentu utama nilai perusahaan di subsektor ini. Sebaliknya, rasio profitabilitas (ROA) berpengaruh positif dan signifikan, menunjukkan bahwa laba menjadi faktor paling diperhatikan dalam penilaian investor. Secara bersama sama, ketiga rasio tersebut memengaruhi nilai perusahaan meskipun kontribusi model relatif kecil. Temuan ini menegaskan pentingnya peningkatan profitabilitas serta pengelolaan keuangan yang sehat bagi perusahaan energi terbarukan.
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a Creative Commons Attribution-NonCommercial 4.0 International License
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