Musytari : Jurnal Manajemen, Akuntansi, dan Ekonomi

Vol. 25 No. 2 (2026): Musytari: Neraca Manajemen, Akuntasi, dan Ekonomi, ISSN 3025-9495
Articles

PENGARUH STRUKTUR MODAL DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN: STUDI EMPIRIS PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2022-2024

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  • Nora Rosiana Manik
Nora Rosiana Manik
Universitas HKBP Nommensen

Published 2026-01-28

Keywords

  • Bursa Efek Indonesia, Nilai Perusahaan, Perusahaan Manufaktur, Profitabilitas, Struktur Modal

How to Cite

PENGARUH STRUKTUR MODAL DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN: STUDI EMPIRIS PADA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2022-2024. (2026). Musytari : Jurnal Manajemen, Akuntansi, Dan Ekonomi, 25(2), 4861-4870. https://cibjournal.com/index.php/musytari/article/view/7339

Abstract

Penelitian ini bertujuan untuk menganalisis pengaruh struktur modal dan profitabilitas terhadap nilai perusahaan pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia periode 2022-2024. Data diambil dari 45 perusahaan manufaktur dengan total observasi 135 sampel menggunakan analisis regresi linier berganda dengan pendekatan kuantitatif. Variabel independen dalam penelitian ini adalah struktur modal yang diukur melalui Debt-to-Equity Ratio dan profitabilitas yang diukur melalui Return on Assets, sedangkan variabel dependen adalah nilai perusahaan yang diukur melalui Price-to-Book Value. Hasil penelitian menunjukkan bahwa struktur modal berpengaruh negatif signifikan terhadap nilai perusahaan (β = -0.325; p < 0.05), sedangkan profitabilitas berpengaruh positif signifikan terhadap nilai perusahaan (β = 0.612; p < 0.05). Model penelitian ini memiliki nilai R² sebesar 0.687, yang berarti 68.7% variasi nilai perusahaan dapat dijelaskan oleh kedua variabel independen. Implikasi praktis dari penelitian ini adalah perusahaan manufaktur perlu mempertimbangkan komposisi struktur modal yang optimal dan fokus pada peningkatan profitabilitas untuk meningkatkan nilai perusahaan di mata investor.

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