Determinants of Company Value (PBV) And Their Impact on Share Returns: A Case Study of Stock Price Index in Mining Companies Listed on the Indonesia Stock Exchange (IDX) 2017–2020



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Submitted Jul 5, 2022
Published Aug 6, 2022
10.24018/ejbmr.2022.7.4.1553

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The author conducted this research to comprehend and analyze the company's performance which will focus on the financial ratio, they are Total Asset Turnover Ratio (TATO), Debt to Equity Ratio (DER), Current Ratio (CR) which influenced by company value and the impact on Stock Returns (SR). The value of the company in this research is calculated using Price to Book Value (PBV). The research data is taken from companies active on the Indonesia Stock Exchange from 2017 to 2020, especially in the mining sector. This research uses a selected sample of 29 companies with panel data analysis method which is processed using the "Eviews 11" data processing program. The research results show that stock returns (SR) are not influenced by CR, but TATO, DER and PBV have a significant effect on stock returns (SR). TATO, DER, and CR together have a significant effect on SR and also on PBV. The impact on the dependent variable (SR) which is influenced indirectly by the independent variable (CR, DER TATO) is proven to be more dominant than the direct effect.

Keywords: Current Ratio (CR), Debt to Equity Ratio (DER), Price to Book Value (PBV), Stock Returns (SR), Total Asset Turnover ratio (TATO)

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