Electronic Theses and Dissertation

Penelitian ini bertujuan untuk mengetahui pengaruh kebijakan struktur modal dan kinerja keuangan terhadap nilai perusahaan pada perusahaan property dan real estate yang tercatat di Bursa Efek Indonesia. Penelitian ini menggunakan data panel dengan 15 perusahaan property dan real estate di Bursa Efek Indonesia dari periode 2016-2021 dengan pemilihan sampel menggunakan purposive sampling. Metode analisis data yang digunakan adalah analisis regresi linear berganda dengan model fixed effect. Hasil penelitian menunjukkan bahwa kebijakan struktur modal yang diproksikan dengan laba ditahan berpengaruh negatif dan signifikan terhadap price to book value, debt ratio berpengaruh negatif dan tidak signifikan terhadap price to book value, long term debt to equity ratio berpengaruh negatif dan signifikan terhadap price to book value. Sedangkan, kinerja keuangan yang diproksikan dengan current ratio berpengaruh positif dan signifikan terhadap price to book value, gross profit margin berpengaruh positif dan signifikan terhadap price to book value, net profit margin berpengaruh negatif dan signifikan terhadap price to book value, inventory turnover berpengaruh positif dan signifikan terhadap price to book value, total asset turnover berpengaruh negatif dan tidak signifikan terhadap price to book value dan return on equity berpengaruh positif dan signifikan terhadap price to book value.
Kata Kunci: Struktur Modal, Kinerja Keuangan, Nilai Perusahaan.

This study aims to determine the effect of capital structure policy and financial performance on firm value in the company property and real estate listed on the Indonesia Stock Exchange. This study uses panel data with 15 companies propertyand real estate on the Indonesia Stock Exchange from the 2016-2021 period byselecting a sample using purposive sampling. The data analysis method used ismultiple linear regression analysis with the model fixed effect. The results of thestudy show that the capital structure policy which is proxied by retained earningshas a negative and significant effect on price to book value, debt ratio negativeand not significant effect on price to book value, long term debt to equity rationegative and significant effect on price to book value. Meanwhile, the financialperformance is proxied by current ratio positive and significant effect on price to book value, gross profit margin positive and significant effect on price to bookvalue, net profit margin negative and significant effect on price to book value,inventory turnover positive and significant effect on price to book value, totalasset turnover negative and not significant effect on price to book value and return on equity positive and significant effect on price to book value. Keywords: Capital Structure, Financial Performance, Company Value.