Analisis Nilai Perusahaan Subsektor Retail yang Terdaftar di Bursa Efek Indonesia (BEI) Tahun 2021-2024

MANAFE, Dessy Magdalena Ely (2025) Analisis Nilai Perusahaan Subsektor Retail yang Terdaftar di Bursa Efek Indonesia (BEI) Tahun 2021-2024. Masters thesis, Universitas Katolik Widya Mandira.

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Abstract

This research is entitled “Analysis of Firm Value in the Retail Subsectorlisted on the Indonesia Stock Exchange (IDX) for the Period 2021–2024”, writtenby Dessy Ely Manafe under the supervision of Dr. Henny A. Manafe, SE, MMandDr. M.E. Presevaranda, SE, M.Si. Firm value is an essential indicator that reflects investors’ perceptionof acompany’s performance and prospects. Companies with high firmvalue are generallyconsidered capable of providing sustainable returns and enhancing shareholder wealth. The retail subsector in Indonesia is particularly interesting to study, as it playsasignificant role in the economy while facing challenges such as shifts in consumerbehavior, intense competition, and economic fluctuations. Therefore, this studyfocuses on analyzing firm value by considering liquidity, solvency, profitability, andfirm size. The objectives of this research are: (1) to examine the overviewof liquidity, solvency, profitability, and firm size in retail subsector companies, (2) to determinethe significant effect of liquidity on firm value, (3) to determine the significant effect of solvency on firm value, (4) to determine the significant effect of profitabilityonfirm value, (5) to determine the significant effect of firm size on firmvalue, and(6) todetermine the significant effect of liquidity, solvency, profitability, and firmsizesimultaneously on firm value in retail subsector companies. The research populationconsists of 31 retail subsector companies listed on the Indonesia Stock Exchange(IDX)during 2021-2024. Using purposive sampling, 13 companies were selectedas theresearch sample. The data used are secondary data obtained fromannual financial reports, analyzed with panel data regression through Eviews 12 software. The results indicate that liquidity and profitability have a positive and significant effect on firm value. This implies that the ability of companies to meet short-termobligations and generate profits strengthens investor confidence and contributes totheincrease in firm value. Therefore, managers need to maintain efficiency in managingcurrent assets and ensure stable levels of profitability. In contrast, solvency and firm size have a negative and significant effect onfirmvalue. A high proportion of debt increases financial risk and discourages investors, while larger firm size does not always guarantee efficiency in creating addedvalue. These findings suggest that strategies in managing capital structure and operational efficiency are crucial for retail companies in sustaining and enhancing their firmvalue.

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