PENGARUH FREE CASH FLOW DAN DEBT TO EQUITY RATIO TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN SUB SEKTOR FARMASI YANG TERDAFTAR DI BURSA EFEK INDONESIA
DOI:
https://doi.org/10.47491/landjournal.v6i2.4252Keywords:
Free Cash Flow, Debt to Equity Ratio (DER), Company ValueAbstract
The rapid economic and business developments currently occurring have caused intense competition for every company. With competition, companies are required to be more progressive and improve their performance to achieve company goals. Company value is often linked to share prices, the higher the share price, the higher the company value, and vice versa. Pharmaceutical companies experienced a decline in share prices after the Covid-19 pandemic ended. This can affect company value. The aim of this research is to determine the influence of Free Cash Flow and Debt Policy on Company Value in pharmaceutical Sub-Sector Companies Listed on the Indonesian Stock Exchange. This research sample used a purposive sampling technique with 40 samples of financial reports from pharmaceutical sub-sector companies listed on the Indonesian Stock Exchange, which were obtained from the financial reports of pharmaceutical sub-sector companies listed on the Indonesian Stock Exchange and processed using SPSS with, Product Moment test Correlation, Multiple Correlation, Multiple Regression Analysis, Coefficient of Determination, t Test (partial), and Uj F (simultaneous) using IBM SPSS Statistics Version 27. The results of this study explain that there is no partial influence between Free Cash Flow on Company Value, whereas Debt policy partially has an influence on company value, and simultaneously Free Cash Flow and Debt to Equity Ratio have an influence on company value in pharmaceutical sub-sector companies listed on the Indonesia Stock Exchange.
References
Anggie Diartuti, T., & Wihandaru. (2019). Pengaruh Profitabilitas, Debt to Equity Ratio, Dan Free Cash Flow (Fcf) Terhadap Nilai Perusahaan Dengan Kebijakan Dividen Sebagai Variabel Intervening. www.umy.ac.id
cnbcindonesia.com. (2023). Gak Bayar Upah Karyawan, Likuiditas Kimia Farma Bermasalah? In CNBC Indonesia. https://www.cnbcindonesia.com/market/20230822131204-17-465060/gak-bayar-upah-karyawan-likuiditas-kimia-farma-bermasalah.
Fahmi, I. (2020). Analisis Laporan Keuangan (D. Handi, Ed.; 7th ed.). Alfabeta.
Ginanjar, P. W., & Mildawati, T. (2020). Pengaruh Free Cash Flow, Profitabilitas, Leverage Dan Kebijakan Deviden Terhadap Nilai Perusahaan. Jurnal Ilmu Dan Riset Akuntansi, 9.
Hery, SE. , M. si. (2023). Analisis Laporan Keuangan (T. Admojo, Ed.). CAPS (Center For Academic Publishing Service).
kontan.co.id. (2023, October 5). Saham Farmasi Tumbang Setelah Bubar Pandemi, Simak Rekomendasi Sahamnya. Kontan.Co.Id. https://investasi.kontan.co.id/news/saham-farmasi-tumbang-setelah-bubar-pandemi-simak-rekomendasi-sahamnya
Kurniawan, R. (2019). Pengaruh Free Cash Flow, Profitabilitas, Dan Debt to Equity Ratio Terhadap Nilai Perusahaan Pada Perusahaan Sektor Industri Barang Konsumsi Di Bursa Efek Indonesia. Journal Fin Acc, 3.
Nasution, M. S. (2020). Pengaruh Debt to Equity Ratio Terhadap Nilai Perusahaan Perbankan Yang Terdaftar Di Bursa Efek Indonesia. Journal Of Islamic Accounting Research, 2(1), 1–16.
Oktavia, R., & Anggarini, D. R. (2021). Pengaruh Free Cash Flow Dan Good Corporate Governance Terhadap Nilai Perusahaan (Studi Pada Perusahaan Sub Sektor Food And Beverages Yang Terdaftar Di Bursa Efek Indonesia Tahun 2015-2019. 4(2), 46–53.
Suciati, N. K. D., Widnyana, I. W., & Tahu, G. P. (2021). pengaruh Free Cash Flow, resiko bisnis dan Debt to Equity Ratio terhadap nilai perusahaan (2021). https://e-journal.unmas.ac.id/index.php/value/article/view/2714
Sugiyono. (2022). Metode Penelitian Kuantitatif, Kualitatif, dan R&D (Sutopo, Ed.). Alfabeta.
Weygandt, J. J., Kimmel, P. D., & Kieso, D. E. (2018a). Pengantar Akuntansi 1 berbasis IFRS (2nd ed.). Salemba Empat.
Yanti, I. G. A. D. N., & Darmayanti, N. P. A. (2019). Pengaruh profitabilitas, ukuran perusahaan, struktur modal, dan likuiditas terhadap nilai perusahaan makanan dan minuman. E-Jurnal Manajemen, 8.
Zurriah, R. (2021). Pengaruh Free Cash Flow Terhadap Nilai Perusahaan. Jurnal Riset Akuntansi Dan Bisnis, 21(1). https://doi.org/10.30596/jrab.v21i1.6530
