Likuiditas, Profitabilitas, dan Implikasinya terhadap Nilai Perusahaan pada Sektor Makanan dan Minuman di Indonesia

Abstract

This study aims to analyze the effect of liquidity and profitability on company value in food and beverage sector companies listed on the Indonesia Stock Exchange (IDX) during the 2019–2023 period. This sector plays a strategic role in the domestic manufacturing and consumption industries. The research sample consisted of 19 companies selected using a purposive sampling method based on the availability of complete financial data and consistency of record-keeping throughout the study period. The approach used is quantitative descriptive to describe the relationship between liquidity and profitability as independent variables and company value as the dependent variable. Data analysis was performed using EViews software version 12. The results of the analysis indicate that liquidity does not significantly influence firm value, with a regression coefficient of β1 = -0.018402 and a significance value of p = 0.83. This means that the level of liquidity does not significantly determine firm value. Conversely, profitability has a positive and significant effect on firm value, as indicated by the regression coefficient β2 = 8.664593 and p = 0.0028. This means that every one-unit increase in profitability can increase firm value by 8.664593. The R-squared value of 0.074 indicates that 7.4% of the variation in firm value can be explained by both variables. This finding provides important insights for management and investors in making strategic corporate decisions