Analisis Faktor – Faktor yang Mempengaruhi Nilai Perusahaan Manufaktur dengan ROA Sebagai Variabel Intervening (Studi pada Perusahaan Manufaktur food and beverages yang Listed di BEI tahun 2010-2012)
Abstract: The value of the
company is a factor that considered by investors in taking investment decision.
Research by Sulistyawan (2005), and Hermawati (2011) shows there are differences in the results
based on existing data, there relationship that might be differences of affect the value of the company. Therefore,it is needed for further research.
This study tested the effect of Sales growth (SG), Total Asset Turnover (TATO),
Net Profit Margin (NPM) against the Return on Asset (ROA) as well as the
influence of Return on Assets (ROA), Sales growth (SG) against Price Book Value
(PBV) on food and baverage manufacturing company that is listed on the
Indonesia stock exchange (idx) of the period 2010 – 2012.
The sample used in this study consisted of 20 food and baverage
manufacturing company that is listed on the Indonesia stock exchange (idx) of
the period 2010 – 2012. Its purposive sampling. The data obtained from
Indonesian Capitan Market Directory (ICMD) and the Annual Report of the
company. Analytical techniques used is multiple regression analysis and path
analysis of SEM programs.
The results showed that Sales growth (SG) have a negative effect of the
Return on Assets (ROA), as well as direct negative and significant effect on
Price Book Value (PBV) also. Total Asset Turnover (TATO) have a negative effect
of the Return on Assets (ROA). Net Profit Margin (NPM) have a positive and
significant effect of the Return on Asset (ROA). Return on Asset (ROA) have a positive and
significant effect of the Price Book Value (PBV).
Keywords: Sales growth (SG),
Net Profit Margin (NPM), Return on Assets (ROA), and Price Book Value (PBV)
Penulis: Brian Yuanta Satriya,
Sugeng Wahyudi
Kode Jurnal: jpmanajemendd170365
