ABSTRACT

Fitriani, (2019). The Effect of Profitability Ratio, Liquidity Ratio, Solvency Ratio, and Activity Ratio towards the Value of the Firm with CSR moderating variabels. (An Empirical Study on Manufacturing Companies Listed on Indonesia Stock Exchange (IDX) in 2014 – 2017). Supervisor: Pusvita Indria Mei Susilowati, SE, M.SA, Ak, CA

The aim of this research was to examine and to analyze (1) the effect of profitability towards the value of the firm; (2) the effect of liquidity towards the value of the firm; (3) the effect of solvency towards the value of the firm; (4) the effect of activity towards the value of the firm; (5) the effect of CSR towards the value of the firm; and (6) CSR could moderate the relation among profitability, liquidity, solvency, and activity towards the value of the firm.

The objects of this present study were based on manufacturing companies listed on Indonesia Stock Exchange (IDX). The total number of the manufacturing companies listed on IDXin 2014 – 2017 was 160 companies. Based on the purposive sampling method, there were 54 companies used as samples out of 216 samples for 4 years of observation. The secondary data was obtained by documentation. The analysis data technique applied in this research were simple linear regression analysis, multiple regression analysis, and Moderated Regression Analysis (MRA) with the help of IBM SPSS23^th version program.

The results of this research showed that liquidity variable had a negative effect; while profitability variable, activity variable, and CSR had a positive effect towards the value of the firm. However, solvency variable had no effect towards the value of the firm and CSR could not moderate the relation among profitability, liquidity, solvency, and activities variables towards the value of the firm. CSR is not a moderating variable, but an independent variable since it affects the value of the firm directly. Keywords: Value of the Firm, Profitability, Liquidity, Solvency, Activity,CorporateSocial Responsibility (CSR)

ABSTRAKSI

Fitriani, (2019). PengaruhRasio Profitabilitas,Rasio Likuiditas, Rasio Solvabilitas, dan Rasio Aktivitas Terhadap Nilai Perusahaan Yang Dimoderasi CSR (Studi Empiris Pada Perusahaan Manufaktur yang Terdaftar di BEI Tahun 2014-2017). Pembimbing: Pusvita Indria Mei Susilowati, SE, M.SA, Ak, CA

Tujuan penelitian ini adalah untuk menguji dan menganalisis (1) pengaruh profitabilitas terhadap nilai perusahaan; (2) pengaruh likuiditas terhadap nilai perusahaan; (3) pengaruh solvabilitas terhadap nilai perusahaan; (4) pengaruh aktivitas terhadap nilai perusahaan; (5) pengaruh CSR terhadap nilai perusahaan; dan (6) CSR dapat memoderasi hubungan antara profitabilitas, likuiditas, solvabilitas, dan akivitas terhadap nilai perusahaan.

Obyek penelitian ini menggunakan perusahaan manufaktur yang terdaftar di BEI. Populasi perusahaan manufaktur yang terdaftar di BEI tahun 2014-2017 adalah 160 perusahaan. Berdasarkan metode purposive sampling jumlah perusahaan yang dijadikan sebagai sampel adalah sebanyak 54 perusahaan dengan total 216 sampel untuk 4 tahun pengamatan. Jenis data yang digunakan adalah data sekunder dengan teknik pengumpulan data yaitu dokumentasi. Teknik analisis data menggunakan analisis regresi linier sederhana, analisis regresi berganda, dan analisis Moderated Regression Analysis (MRA) dengan bantuan program IBM SPSS Versi 23.

            Hasil penelitian ini menunjukkan bahwa variabel profitabilitas berpengaruh positip, likuiditas berpengaruh negatif, aktivitas berpengaruh positif, CSR berpengaruh positif terhadap nilai perusahaan. Namun variabel solvabilitas tidak berpengaruh terhadap nilai perusahaan, serta CSR tidak mampu memoderasi hubungan antara variabel profitabilitas, likuiditas, solvabilitas dan aktivitas terhadap nilai perusahaan. CSR bukan merupakan variabel moderasi, melainkan variabel independen karena CSR berpengaruh langsung terhadap nilai perusahaan.

Kata Kunci : Nilai Perusahaan,Profitabilitas, Likuiditas, Solvabilitas, Aktivitas, Corporate Social Responsibility (CSR)