Faktor – Faktor yang mempengaruhi nilai perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia
P Penelitian ini menguji faktor – faktor seperti perputaran aset tetap, rasio utang, pertumbuhan penjualan, ekuitas pemegang saham, laba per saham, rasio pembayaran dividend. Nilai perusahaan yang diukur oleh Tobins Q. Sampel yang digunakan sebanyak 29 perusahaan sektor non – keuangan yang tercatat di Bursa Efek Indonesia (BEI) selama lima tahun dari 2011-2015. Metode analisis yang digunakan dalam penelitian ini adalah analisis data panel. Hasil dari penelitian ini adalah (1) Fixed Asset Turnover berpengaruh terhadap Tobins Q (2) Debt Ratio tidak berpengaruh terhadap Tobins Q (3) Sales Growth Tidak Berpengaruh terhadap Tobins Q. (4) Shareholder’s Equity berpengaruh positif terhadap Tobins Q. (5) Earning per Share tidak berpengaruh terhadap Tobins Q. (6) Dividendd Payout Ratio tidak berpengaruh terhadap Tobins Q. Karena, perusahaan harus meningkatkan nilai perusahaan agar dapat meningkatkan kinerja keuangan dan bagi investor sebelum melakukan investasi sebaiknya memperhatikan faktor-faktor yang mempengaruhi kinerja perusahaan.
T This research examines factors such as Performance Ratio, Leverage Ratio, Profit Sustainbility Ratio, Shareholder’s Equity, Profitability and Cash Flow Indicator Ratio on Firm Value measured by Fixed asset turnover, debt ratio, sales growth, shareholder’s equity, earning per share dan dividendd payout ratio, Firm Value measured by Tobins Q. The samples used were 29 companies engaged in the Non- Financial sector manufactur that are listed on the Indonesia Stock Exchange (BEI) for five years from 2011 to 2015. The analytical methods used in this research is panel data regression. The results showed that (1) there is positive significant impact between Fixed Asset Turnover and Tobins Q (2) there is no significant impact between Debt Ratio and Tobins Q (3) there is no significant impact between Sales Growth and Tobins Q (4) there is no significant impact between Shareholder’s Equity and Tobins Q (5) there is positive significant impact between Earning per Share and Tobins Q (6) there is no significant impact between Dividendd Payout Ratio and Tobins Q. Then, the companies need to increase firm value for financial performance and for the investor before making an investment should consider the factors that affect the firm performance