1. Home
  2. Vol 1, No 1 (2022)
  3. Sunaryo

The Influence of Net Profit Margin, Current Ratio and Debt to Equity Ratio on Company Value With Dividend Policy as an Intervening Variable in Retail Subsector Companies for the 2012-2019 Period

Deni Sunaryo

Abstract


The purpose of this study is to determine the effect of Net Profit Margin, Current Ratio and Debt to Equity Ratio to Firm Value with Dividend Policy as an Intervening variable which shows the dissimilarity of results in previous studies. This research uses the object of Retail sub-sector companies in Southeast Asia for the period 2012-2019. The sampling method used in this study used purposive sampling technique and obtained 19 companies with a total of 152 samples.The analysis technique used is descriptive test analysis, classical assumption test, coefficient of determination test (R2), multiple linear regression analysis, t test, F test, path analysis and sobel test. The results of the study partially concluded that the Net Profit Margin had a significant effect on the Price Earnings Ratio. Current Ratio and Debt to Equity Ratio have no significant effect on Price Earnings Ratio. Simultaneously concluded that the Net Profit Margin, Current Ratio and Debt to Equity Ratio have a significant effect on the Price Earnings Ratio. Net Profit Margin has no significant effect on Earnings Per Share. Current Ratio and Debt to Equity Ratio have a significant effect on Earnings PerShare. Price Earnings Ratio has no significant effect on Earnings PerShare. The results of the study can be concluded that Earnings per Share cannot mediate the effect of Net Profit Margin, Current Ratio and Debt to Equity Ratio on Price Earnings Ratio.


Keywords


Net Profit Margin, Current Ratio, Debt to Equity ratio, Company Value, Dividend Policy

References


Ekaprastyana, Devy, and Saiful Anwar. 2017. “The Effect of Earning Per Share and Debt to Asset Ratio on Firm’s Value : Case Study on Food and Beverage Corporation Listed in Indonesia Stock Exchange.” Jurnal Keuangan dan Perbankan 13(2): 120–27.

Fahmi, I. (2015). PENGANTAR MANAJEMEN KEUANGAN, Teori Dan Soal Jawab. bandung: alfabeta.

Fahmi, I. (2016.). PENGANTAR MANAJEMEN KEUANGAN Teori Dan Soal Jawab. bandung: alfabeta.

Faruq, Ach., I Made Wianto Putra, and Ni Putu Riasning. 2021. “Pengaruh Current Ratio, Debt to Equity Ratio, Return on Equity Terhadap Earning Per Share Pada Perusahaan Sub Sektor Batu Bara Yang Terdaftar Di Bursa Efek Indonesia 2014-2018.” Jurnal Riset Akuntansi Warmadewa 2(1): 35–40.

Ghozali, I. (2018). Aplikasi Analisis Multivariate dengan program IBM SPSS 25 (ke-9). UNDIP.

Kasmir. (2013). Analisis Laporan Keuangan. 1 (ke-6). jakarta: Rajawali pers.

Kasmir. (2016). Analisis Laporan Keuangan. Jakarta: Raja Grafindo Persada.

Kasmir. (2014). Raja Grafindo Persada Analisis Laporan Keuangan, Edisi Satu, Cetakan Ketujuh.

Mari’e Hasan Hamed Banykhaled, Khalaf Taani. 2011. “THE EFFECT OF FINANCIAL RATIOS, FIRM SIZE AND CASH FLOWS FROM OPERATING ACTIVITIES ON EARNINGS PER SHARE: (AN APPLIED STUDY: ON JORDANIAN INDUSTRIAL SECTOR).” 3(1)(ISSN: 1309-8063): 197–205.

Nur, Triasesiarta. 2018. “Pengaruh Growth Opportunity , Profitabilitas Dan Struktur Modal Terhadap Nilai Perusahaan Dengan Dividen Sebagai Variabel Intervening Pada Perusahaan Manufaktur Yang Terdaftar Di BEI Pada Periode 2014-2017.” 5(Salvatore 2005): 393–411.

Pouraghajan, Abbasali, Elham Mansourinia, Seyedeh Maryam, and Babanejad Bagheri. 2013. “Investigation the Effect of Financial Ratios , Operating Cash Flows and Firm Size on Earnings Per Share : Evidence from the Tehran Stock Exchange.” International Research Journal of Applied and Basic Sciences 4(5): 1026–33. file:///F:/Skripsi Lia/eps 2.pdf.

Riyanto Bambang. (2010). DASAR DASAR PEMBELANJAAN PERUSAHAAN. edisi 4. BPFE-YOGYAKARTA.

Rohman, Abdul, I Gede Arimbawa, Saeed Ahmed Saeed Al-asrani, and Elok Damayanti. 2018. “THE EFFECT OF NET PROFIT MARGIN ( NPM ), CURRENT RATIO AND DEBT TO EQUITY RATIO ( DER ) ON PRICE EARNING RATIO IN MANUFACTURING SUB METAL SECTORS LISTED IN INDONESIA STOCK EXCHANGE.” 2018(Idx): 2016–18.

Santosa, Perdana Wahyu, Ovinda Aprilia, and Martua Eliakim Tambunan. 2020. “The Intervening Effect of the Dividend Policy on Financial Performance and Firm Value in Large Indonesian Firms.” International Journal of Financial Research 11(4): 408–20.

Sari, Rita Purnama. 2021. “Jurnal Proaksi PENGARUH CURRENT RATIO , DEBT EQUITY RATIO , TOTAL ASSET TURNOVER TERHADAP PRICE EARNING RATIO Jurnal Proaksi Vol . 8 No . 1 Januari – Juni 2021.” 8(1): 156–65.

Sugiyono. 2018. METODE PENELITIAN(Kuantitatif,Kualitatif,Dan R&D. ke-27. bandung: alfabeta.

Uno, Mohamad Barlianta, Hendra Tawas, and Paulina Van Rate. 2014. “Analisis Kinerja Keuangan, Ukuran Perusahaan, Arus Kas Operasional Pengaruhnya Terhadap Earning Per Share.” Jurnal Riset Ekonomi, Manajemen, Bisnis dan Akuntansi 2(3): 745–57.

Zuraida, Ida. 2019. “Pengaruh Struktur Modal, Ukuran Perusahaan, Profitabilitas Dan Kebijakan Dividen Terhadap Nilai Perusahaan.” BALANCE Jurnal Akuntansi dan Bisnis 4(1): 529.


Full Text: PDF

DOI: 10.55824/tamb.v1i1.4

Refbacks

  • There are currently no refbacks.


Copyright (c) 2022 The Academy Of Management and Business