Company Value Disclosure Based on Fundamental Analysis of Energy Companies in Indonesia
DOI:
https://doi.org/10.37481/jmeb.v3i2.589Keywords:
Fundamental Analysis, Go Public, Company Value, Business Growth, Energy CompanyAbstract
Firm value is needed for companies going public as an effort to obtain investment/funding in business development. The good value of the company indicates a strong market perception, not only among investors, but also the public. Thus, from a business perspective, good corporate value describes two business dimensions, namely good investment funding and profitable business. This study aims to see the role of the company's fundamental financial factors on business quality, so that it has implications for increasing company value. To answer these objectives, a quantitative approach is used based on financial report data. In the test used the method of statistical analysis of linear regression. The object of this research is energy companies in Indonesia which are registered as go public companies. Sources of research data are financial reports taken by purposive sampling technique. A total of 19 companies were used as research samples and more than 75 financial statements were used as research data. The results show that there is a significant difference in the two tests, where in the simultaneous model all financial fundamental factors have a large contribution to firm value. Meanwhile, the partial model test shows smaller/less linear results. In simultaneous testing, one conclusion was found, that the company's value will strengthen if all the main financial instruments in the company are fulfilled. In other words, the company's business must show good sales and profit growth, so that this has an impact on improving the quality of other business instruments, which in turn has implications for market assessment/public perception.
References
Batubara, H. C., & Putri, A. A. (2021). Pengaruh Ratio Profitabilitas dan Ratio Aktivitas Terhadap Current Ratio pada Perusahaan Sub Sektor Pulp dan Kertas yang Terdaftar di Bursa Efek Indonesia. Maneggio: Jurnal Ilmiah Magister Manajemen, 4(1), 51-61.
Hartono, A., & Rahadi, D. R. (2021). Work From Home Terhadap Kinerja Karyawan Pada Masa Pandemi Covid 19. Jurnal Manajemen Bisnis, 18(1), 16-21.
Husain, T., & Dewi, E. P. (2020). Rasio Keuangan: Studi Komparasi Pada Perusahaan Industri Manufaktur dan Sektor Jasa Yang Melakukan Initial Public Offerings (IPO) Tahun 2018. JIMF (Jurnal Ilmiah Manajemen Forkamma), 3(2).
Indrayani, N. K., Endiana, I. D. M., & Pramesti, I. G. A. A. (2021). Pengaruh Ukuran Perusahaan, Profitabilitas, Kebijakan Dividen, Akuntansi Lingkungan, Leverage Dan Likuiditas Terhadap Nilai Perusahaan. Kumpulan Hasil Riset Mahasiswa Akuntansi (KHARISMA), 3(1).
Irfani, A. S. (2020). Manajemen Keuangan dan Bisnis; Teori dan Aplikasi. Gramedia Pustaka Utama.
Kinasih, H. W., & Laduny, M. F. (2021). Analisis Komparatif Abnormal Return, Cumulative Abnormal Return dan Trading Volume Activity: Event Study Kedatangan Vaksin Sinovac. JURNAL EKUIVALENSI, 7(1), 84-98.
Komalasari, D. N., & Yulazri, Y. (2023). PENGARUH PENGUNGKAPAN LIKUIDITAS, SOLVABILITAS, UKURAN PERUSAHAAN DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN. SCIENTIFIC JOURNAL OF REFLECTION: Economic, Accounting, Management and Business, 6(2), 470-479.
Lumantow, I. P., Saerang, I. S., & Karuntu, M. M. (2022). Analisis Rasio Solvabilitas dan Profitabilitas Pada Perusahaan Sub Sektor Asuransi yang Terdaftar di Bursa Efek Indonesia Tahun 2018-2020. Jurnal EMBA: Jurnal Riset Ekonomi, Manajemen, Bisnis dan Akuntansi, 10(3), 458-465.
Mark, K. M., & Kristanto, A. B. (2020). Pengaruh Persaingan Pasar terhadap Agresivitas Pajak dengan Kecakapan Manajemen sebagai Variabel Moderasi. Jurnal Ilmiah MEA (Manajemen, Ekonomi, & Akuntansi), 4(3), 18-36.
Martha, L., Sogiroh, N. U., Magdalena, M., Susanti, F., & Syafitri, Y. (2018). Profitabilitas dan kebijakan dividen terhadap nilai perusahaan. Jurnal Benefita: Ekonomi Pembangunan, Manajemen Bisnis & Akuntansi, 3(2), 227-238.
Ndruru, M., Silaban, P. B., Sihaloho, J., Manurung, K. M., & Sipahutar, T. T. U. (2020). Pengaruh likuiditas, leverage, dan profitabilitas terhadap nilai perusahaan pada perusahaan manufaktur Tahun 2015-2017. Jurnal Ilmiah MEA (Manajemen, Ekonomi, & Akuntansi), 4(3), 390-405.
Parendra, A., Firmansyah, A., & Prakosa, D. K. (2020). Ukuran perusahaan, leverage, risiko saham di perusahaan perbankan. Dinamika Akuntansi Keuangan dan Perbankan, 9(2), 119-132.
Purba, I. R., & Mahendra, A. (2022). Pengaruh working capital turnover (wct), current ratio (cr), debt to equity ratio (der), dan return on asset (roa) terhadap nilai perusahaan pada perusahaan properti dan real estate yang terdaftar di bursa efek indonesia periode 2017-2020. Jurnal Riset Akuntansi & Keuangan, 61-76.
Rininda, B. P., Fitriani, Y., & Azizah, A. (2021). Menakar Kinerja Keuangan dengan Menggunakan Rasio Solvabilitas. Jurnal Manajemen Bisnis, 18(4), 564-578.
Sari, D. K., & Wahidahwati, W. (2021). Pengaruh pengungkapan sustainability report, ukuran perusahaan, profitabilitas, dan leverage terhadap nilai perusahaan. Jurnal Ilmu Dan Riset Akuntansi (JIRA), 10(4).
Setiawan, A. F., Suwaidi, R. A., No, J. R. M., Anyar, G., Anyar, K. G., & SBY, K. (2022). Pengaruh Rasio Likuiditas, Aktivitas, dan Leverage Terhadap Profitabilitas dengan Firm Size Sebagai Variabel Moderasi. Briliant: Jurnal Riset dan Konseptual, 7(3), 750-761.
Tolong, A., As, H., & Rahayu, S. (2020). Analisis Kinerja Keuangan Koperasi Simpan Pinjam Pada Koperasi Suka Damai. Jambura Economic Education Journal, 2(1), 25-33.
