Faktor Penentu Nilai Perusahaan: Peran Ukuran Perusahaan dan Profitabilitas di Indonesia

Authors

  • Ihsan Nasihin Universitas Buana Perjuangan
  • Dian Purwandari Universitas Buana Perjuangan Karawang
  • Hendri Nur Ardiansyah Universitas Buana Perjuangan Karawang
  • Erawati Kartika Universitas AKI
  • Desty Prawatiningsih UIN Sultan Maulana Hasanuddin Banten

DOI:

https://doi.org/10.32662/gaj.v8i1.4007

Keywords:

Ukuran perusahaan, kinerja keuangan, nilai perusahaan

Abstract

This study aims to analyze the influence of company size and profitability on company value in property and real estate companies listed on the Indonesia Stock Exchange (IDX) for the 2020-2023 period. The study used a quantitative method with multiple linear regression analysis. Secondary data from the company's financial statements is used, including total assets, Return on Assets (ROA), and Price to Book Value (PBV). Classical assumption tests are performed to ensure the feasibility of the model, including normality, multicollinearity, heteroscedasticity, and autocorrelation tests. The results show that company size and profitability have a positive and significant influence on the value of the company both partially and simultaneously. The Adjusted R² coefficient of 52.1% shows that these two variables together are able to explain the variation in the company's value. This research emphasizes the importance of company management in improving operational scale and efficiency to create higher value for shareholders.

References

Adel, C., Hussain, M. M., Mohamed, E. K. A., & Basuony, M. A. K. (2019). Is corporate governance relevant to the quality of corporate social responsibility disclosure in large European companies? International Journal of Accounting and Information Management, 27(2), 301–332. https://doi.org/10.1108/IJAIM-10-2017-0118

Akbar, F., & Fahmi, I. (2020). Pengaruh Ukuran Perusahaan, Profitabilitas Dan Likuiditas Terhadap Kebijakan Dividen Dan Nilai Perusahaan Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia. Jurnal Ilmiah Mahasiswa Ekonomi Manajemen, 5(1), 62–81. http:jim.unsyiah.ac.id/ekm

Albitar, K., Hussainey, K., Kolade, N., & Gerged, A. M. (2020). ESG disclosure and firm performance before and after IR: The moderating role of governance mechanisms. International Journal of Accounting and Information Management, 28(3), 429–444. https://doi.org/10.1108/IJAIM-09-2019-0108

Almarita, S., & Kristanti, F. T. (2020). Analisis Good Corporate Governance dan Ukuran Perusahaan terhadap Financial Distress. 14(2), 155–170.

Amelia, F., & Anhar, M. (2019). Pengaruh Struktur Modal dan Pertumbuhan Perusahaan terhadap Nilai Perusahaan dengan Profitabilitas Sebagai Variabel Intervening. Jurnal STEI Ekonomi, 28(01), 44–70. https://doi.org/10.36406/jemi.v28i01.260

Bosi, M. K., Lajuni, N., Wellfren, A. C., & Lim, T. S. (2022). Sustainability Reporting through Environmental, Social, and Governance: A Bibliometric Review. Sustainability (Switzerland), 14(19). https://doi.org/10.3390/su141912071

Bunea, O. I., Corbos, R. A., & Popescu, R. I. (2019). Influence of some financial indicators on return on equity ratio in the Romanian energy sector - A competitive approach using a DuPont-based analysis. Energy, 189, 116251. https://doi.org/10.1016/j.energy.2019.116251

Camilleri, M. A. (2017). The integrated reporting of financial, social and sustainability capitals: A critical review and appraisal. International Journal of Sustainable Society, 9(4), 311–326. https://doi.org/10.1504/IJSSOC.2017.090523

Ermanda, M., & Puspa, D. F. (2022). Pengaruh Kepemilikan Institusional, Sustainability Report Dan Intellectual Capital Terhadap Nilai Perusahaan. Jurnal Kajian Akuntansi Dan Auditing, 17(2), 135–147. https://doi.org/10.37301/jkaa.v17i2.89

Haris, E. K., Guritno, Y., & Widyastuti, S. (2022). Pengaruh Leverage, Ukuran Perusahaan dan Dewan Komisaris Independen terhadap Nilai Perusahaan. Syntax Idea, 4(3), 530–540. https://doi.org/

Hasanudin, A. I., Primawresti, R. N., & Tri Lestari. (2022). The Influence of Profitability and Liquidity on Company Value with Capital Structure as Moderating Variables. Journal of Social Science, 3(2), 237–253. https://doi.org/10.46799/jss.v3i2.317

Heryana, R. P., Luthfi, D., & Agus Santoso, R. (2024). Analisis Pengaruh Profitabilitas Dan Leverage Terhadap Tax Avoidance Pada Artikel Terindeks Sinta Tahun 2018-2022. Jurnal Revenue Jurnal Akuntansi, 5(1), 511–532. https://www.kemenkeu.go.id

Kau, S. T., Santoso, R. A., & Fitriana, F. (2024). Analisis Pengaruh Ukuran Perusahaan Terhadap Audit Delay Berdasarkan Literature Review Terindeks Sinta. Gorontalo Accounting Journal, 7(1), 144. https://doi.org/10.32662/gaj.v7i1.3447

Konuk, F. A. (2019). The influence of perceived food quality, price fairness, perceived value and satisfaction on customers’ revisit and word-of-mouth intentions towards organic food restaurants. Journal of Retailing and Consumer Services, 50(May), 103–110. https://doi.org/10.1016/j.jretconser.2019.05.005

Lestari, A. D., & Khomsiyah, K. (2023). Pengaruh Kinerja Lingkungan, Penerapan Green Accounting, dan Pengungkapan Sustainability Report Terhadap Nilai Perusahaan. Jurnal Ekonomi Bisnis, Manajemen Dan Akuntansi (JEBMA), 3(3), 514–526. https://doi.org/10.47709/jebma.v3i3.2799

Lestari, S., & Sihono, A. (2023). Pengaruh Likuiditas, Leverage, Profitabilitas dan Ukuran Perusahaan terhadap Nilai Perusahaan. JIIP - Jurnal Ilmiah Ilmu Pendidikan, 6(11), 9009–9017. https://doi.org/10.54371/jiip.v6i11.2742

Li, Y., Huang, J., & Song, T. (2019). Examining business value of customer relationship management systems: IT usage and two-stage model perspectives. Information and Management, 56(3), 392–402. https://doi.org/10.1016/j.im.2018.07.012

Martha, L., & Sinta, M. (2024). Economics and Digital Business Review Kinerja Keuangan Dan Corporate Social Responsibility ( Csr ) Terhadap Nilai Perusahaan Pada Perusahaan Property Dan Real Estate Di Bursa Efek Indonesia 2018-2022. 5(2).

Mindra, S., & Erawati, T. (2016). Pengaruh Earning Per Share (EPS), Ukuran Perusahaan, Profitabilitas, dan Leverage Terhadap Nilai Perusahaan. Jurnal Akuntansi, 2(2). https://doi.org/10.24964/ja.v2i2.31

Nasihin, I., & Arimurti, T. (2022). Penyusunan Laporan Keuangan Badan Usaha Milik Desa Sugih Anugrah. 6(1), 523–532. http://journal.ummat.ac.id/index.php/jmm

Nasihin, I., & Dewi, S. K. (2021). Pengaruh Rasio Keuangan dan Good Corporate Governance terhadap Basic Earning Power dengan Variabel Moderasi Pertumbuhan Ekonomi. E-Jurnal Akuntansi, 31(8), 2100. https://doi.org/10.24843/eja.2021.v31.i08.p17

Nasihin, I., & Faddila, S. P. (2021). Pelatihan penyusunan sistem informasi akuntansi dan pelaporan keuangan. 5(3), 1071–1087.

Nasihin, I., Fitriana, A. V., Arimurti, T., & Purwandari, D. (2023). SEIKO : Journal of Management & Business The Role Of Financial Performance In The Disclosure Of Sustainability Reportd In State-Owned Enterprises. 6(2), 256–267.

Nasihin, I., Hendriani, M., Puspitasari, M., & Rahman, F. (2022). Analisis Rasio Keuangan Terhadap Perubahan Laba Di Bursa Saham Syariah Dengan Pertumbuhan Ekonomi Sebagai Variabel Moderasi. Jurnal Ecodemica Jurnal Ekonomi Manajemen Dan Bisnis, 6(1), 111–122. https://doi.org/10.31294/eco.v6i1.11858

Nasihin, I., Lasmini, L., Fatihah, D. I., & Purwandari, D. (2024). Pendampingan dan Pelatihan Penentuan Harga Pokok Produksi Pastel Mini UMKM Rizki Kanaya. Jurnal Pengabdian Dan Peningkatan Mutu Masyarakat, Janayu, 5(1), 1–11. https://doi.org/10.22219/janayu.v5i1.30728

Nasihin, I., Lasmini, L., & Humaira, S. (2023). Penyusunan Siklus Akuntansi Penggajian Pada MTS Nurul Falah Al Huda. Abdi: Jurnal Pengabdian Dan Pemberdayaan Masyarakat Volume, 5, 61–67.

Nasihin, I., & Purwandari, D. (2022). Analysis of the Effect of Profitability, Liquidity, and Firm Size on the Timeliness of Financial Report Submission. Jurnal Maksipreneur: Manajemen, Koperasi, Dan Entrepreneurship, 12(1), 33. https://doi.org/10.30588/jmp.v12i1.989

Nasihin, I., Purwandari, D., Ardiansyah, H. N., & Sujaya, F. A. (2024). Pendampingan Penyusunan Laporan Keuangan Untuk Pelaporan Pajak Tahunan UMKM. Jurnal Abdimas BSI, 7(2), 269–279.

Nasihin, I., Purwandari, D., Ardiansyah, H. N., & Trisyanto, A. (2024). Pengaruh Profitabilitas dan Kebijakan Dividen Dalam Menentukan Harga Saham di Bursa Efek Indonesia. COSTING:Journal of Economic, Business and Accounting, 7, 7938–7946.

Nasihin, I., Purwandari, D., Lasmini, L., Kartika, E., & Ardiansyah, H. N. (2025). Strategies To Improve Compliance With Annual Individual Taxpayer Tax Return (WPOP) Reporting. 9(1), 1–12.

Nasihin, I., & Retnosary, R. (2023). Rantai Pasokan Dalam Strategi Sektor Wisata Kabupaten Karawang Untuk Meningkatkan Pendapatan Asli Daerah. Owner, 7(2), 1226–1236. https://doi.org/10.33395/owner.v7i2.1439

Nguyen, C. P., Schinckus, C., & Hong Nguyen, T. V. (2019). Google search and stock returns in emerging markets. Borsa Istanbul Review, 19(4), 288–296. https://doi.org/10.1016/j.bir.2019.07.001

Nurhaliza, S., Reza, M., Hasibuan, I., & Gultom, P. (2025). Pengaruh Profitabilitas , Ukuran Perusahaan , dan Leverage Terhadap Earnings Management Dengan GCG Sebagai Pemoderasi. 05(01), 48–57.

Rasyid, C. A. M. P., Indriani, E., & Hudaya, R. (2022). Pengaruh Corporate Social Responsibility Dan Struktur Modal Terhadap Nilai Perusahaan Dengan Ukuran Perusahaan Dan Profitabilitas Sebagai Variabel Moderasi Pada Perusahaan Pertambangan. Jurnal Aplikasi Akuntansi, 7(1), 135–156. https://doi.org/10.29303/jaa.v7i1.146

Rey-Ares, L., Fernández-López, S., & Rodeiro-Pazos, D. (2021). Impact of working capital management on profitability for Spanish fish canning companies. Marine Policy, 130. https://doi.org/10.1016/j.marpol.2021.104583

Romadhon, F. A., & Nawawi, Z. M. (2024). Pengaruh Profitabilitas, Leverage, dan Kepemilikan Institusional Terhadap Nilai Perusahaan pada Perusahaan Properti dan Real Estate yang Terdaftar di Bursa Efek Indonesia Tahun 2020-2023. Economic Reviews Journal, 3(1), 96–108. https://doi.org/10.56709/mrj.v3i4.548

Ros-Tonen, M. A., Bitzer, V., Laven, A., Ollivier de Leth, D., Van Leynseele, Y., & Vos, A. (2019). Conceptualizing inclusiveness of smallholder value chain integration. Current Opinion in Environmental Sustainability, 41, 10–17. https://doi.org/10.1016/j.cosust.2019.08.006

Suteja, J., Gunardi, A., Alghifari, E. S., Susiadi, A. A., Yulianti, A. S., & Lestari, A. (2023). Investment Decision and Firm Value: Moderating Effects of Corporate Social Responsibility and Profitability of Non-Financial Sector Companies on the Indonesia Stock Exchange. Journal of Risk and Financial Management, 16(1). https://doi.org/10.3390/jrfm16010040

Tarigan, R. Y., Firmansyah, A., Shinta Ramadhani, D. D., & Ikhsan, W. M. (2022). Hubungan Kinerja Keuangan Perusahaan dan Nilai Perusahaan. Studi Akuntansi Dan Keuangan Indonesia, 5(1), 38–60. https://doi.org/10.21632/saki.5.1.38-60

Teresia, E. S. D., & Hermi, H. (2016). Pengaruh Struktur Kepemilikan, Ukuran Perusahaan Dan Keputusan Keuangan Terhadap Nilai Perusahaan Dengan Pertumbuhan Perusahaan Sebagai Variabel Moderating. Jurnal Magister Akuntansi Trisakti, 3(1), 73–94. https://doi.org/10.25105/jmat.v3i1.4969

Wartabone, T. A., Yusuf, N., & Panigoro, N. (2023). Pengaruh Pengungkapan Sustainability Reporting Terhadap Kinerja Keuangan Perusahaan yang Terdaftar di Indeks Saham Syariah Indonesia Periode 2018-2021. Jurnal Simki Economic, 6(2), 430–440. https://doi.org/10.29407/jse.v6i2.364

Downloads

Published

2025-04-19

How to Cite

Nasihin, I., Purwandari, D., Ardiansyah, H. N., Kartika, E., & Prawatiningsih, D. (2025). Faktor Penentu Nilai Perusahaan: Peran Ukuran Perusahaan dan Profitabilitas di Indonesia. Gorontalo Accounting Journal, 8(1), 152–164. https://doi.org/10.32662/gaj.v8i1.4007

Issue

Volume 8 Number 1 April 2025

Section

Articles

License

In order to be accepted and published by Gorontalo Accounting Journal, author(s) submitting the article manuscript should complete all the review stages. By submitting the manuscript, the author(s) agreed to these following terms:

1. The copyright of the accpted for publication articles shall be assigned to Gorontalo Accounting Journal as the publisher of the journal. The intended copyright includes the rights to publish articles in various forms (including reprints) as evidenced by a Statement From the author.

2. Gorontalo Accounting Journal maintain the publishing rights of the published articles. 

Authors are permitted to republish or disseminate published articles by sharing the link/DOI of the article at the Gorontalo Accounting Journal. Authors are allowed to use their articles for any legal purposes deemed necessary without written permission from the Gorontalo Accounting Journal with an acknowledgement of initial publication to this journal.

Users/public (https://jurnal.unigo.ac.id/index.php/gaj/index) use of this website will be licensed to the Creative Commons Attribution 4.0 International License (CC-BY)