PENGARUH RETURN ON ASSETS (ROA) DAN RETURN ON EQUITY (ROE) TERHADAP NILAI PERUSAHAAN PADA SEKTOR INFRASTRUKTUR SUBSEKTOR KONSTRUKSI DAN REKAYASA YANG TERDAFTAR DI BURSA EFEK INDONESIA (BEI) PERIODE 2021–2025
Abstract
This study aims to analyze the effect of Return on Assets (ROA) and Return on Equity (ROE) on firm value in infrastructure-sector companies in the construction and engineering subsector listed on the Indonesia Stock Exchange (IDX) during 2021–2025. The study uses a quantitative approach with an associative research method and secondary data obtained from annual financial reports and capital-market data. The sample consists of eight companies selected through purposive sampling, with five years of observation, resulting in 40 observations. Firm value is measured using Price to Book Value (PBV), while ROA and ROE are used as independent variables. Data analysis includes descriptive statistics, classical assumption tests, multiple linear regression, t-test, F-test, and coefficient of determination. The results show that ROA has a positive and significant effect on firm value, while ROE has a negative and significant effect. Simultaneously, ROA and ROE have a significant effect on firm value. The coefficient of determination indicates that the model explains 68.1% of the variation in firm value based on Adjusted R Square, while the remaining variation is explained by factors outside the model.
References
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Artikel / Jurnal Ilmiah
Dimas Pratama Putra & Syahyuni. (2022).
“Pengaruh ROA, DER terhadap nilai perusahaan subsektor konstruksi dan bangunan yang terdaftar di Bursa Efek Indonesia.”
Jurnal Riset Akuntansi Tridinanti, 4(1), 61–72.
Dion Kurniawan & Irvan Yoga Pardistya. (2024).
“Pengaruh Return on Asset, Return on Equity dan Net Profit Margin terhadap nilai perusahaan pada perusahaan manufaktur subsektor makanan dan minuman yang terdaftar di Bursa Efek Indonesia periode 2017–2022.”
Jurnal Ilmiah Wahana Pendidikan, 10(7), 333–346.
Kalsum Yahya & Muhammad Nur Fietroh. (2021).
“Pengaruh Return on Asset (ROA) dan Net Profit Margin (NPM) terhadap nilai perusahaan.”
Jurnal Manajemen dan Bisnis, 4, 57–64.
Putri Anggraeni & Rifani Akbar. (2023).
“Pengaruh ROA, ROE, TATO terhadap nilai perusahaan (studi pada perusahaan manufaktur yang listed di Bursa Efek Indonesia tahun 2020–2022).”
Jurnal Bintang Manajemen, 1(4), 63–85.
Riendra Muda Zuliatama, Ketut Sunarta, & Ellyin Octavianty. (2024).
“Pengaruh struktur modal dan profitabilitas terhadap nilai perusahaan pada perusahaan sub sektor konstruksi dan bangunan yang terdaftar di Bursa Efek Indonesia periode 2018–2022.”
JATAMA: Jurnal Akuntansi Pratama.
Rifani Akbar Sulbahri, Nur Effen, & Martino. (2022).
“Pengaruh Return on Assets, Return on Equity, Investment Opportunity Set terhadap nilai perusahaan pada perusahaan makanan dan minuman sub sektor barang konsumsi yang terdaftar di Bursa Efek Indonesia.”
Jurnal Riset Akuntansi Tridinanti, 3(2), 61–71.
