Pengaruh Price to Earning Ratio (PER), Debt Equity Ratio (DER), Return on Assets (ROA), dan Return on Equity (ROE) terhadap Nilai Perusahaan (PBV) Pada Perusahaan sektor Industrial yang terdaftar di Index KOSPI Korea Selatan Periode 2019-2023

Abstract

Objective: The purpose of this study is to analyze and explain the influence of Price to Earning Ratio (PER), Debt to Equity Ratio (DER), Return on Assets (ROA), and Return on Equity (ROE) on company value (Price to Book Value/PBV). This study focuses on companies in the industrial sector listed on the KOSPI Index, South Korea, for the period 2019–2023.

Methodology: This study was conducted with a quantitative approach. The type of data used is secondary data obtained from annual financial reports. The data was then analyzed using multiple linear regression techniques with the SPSS version 25 program.

Results: The results of the study show that simultaneously, PER, DER, ROA, and ROE have a significant influence on firm value (PBV), with an Adjusted R Square value of 68.8%. This indicates that the independent variables can explain a substantial portion of the variance in firm value. Partially, the study found that the Price to Earning Ratio (PER) does not have a significant effect on firm value. The regression model formed is Y = 0.529 + 0.059(PER) + 0.018(DER) - 0.048(ROA) + 0.063(ROE).

Implication: This research provides empirical evidence regarding the financial factors affecting firm value in the South Korean industrial sector. The findings suggest that investors should consider these financial ratios simultaneously when making investment decisions to assess company performance and value accurately.