PERAN STRUKTUR MODAL, PROFITABILITAS DAN PENGUNGKAPAN LINGKUNGAN TERHADAP NILAI PERUSAHAAN

  • Hesti Fajarsari Akademi Entrepreneurship Terang Bangsa Semarang
  • Ika Swasti Putri Universitas Dharma AUB Surakarta, Universitas Sebelas Maret http://orcid.org/0000-0003-4841-3739
  • Alexander Nova Vernando Akademi Entrepreneurship Terang Bangsa Semarang
  • Erlitawati Kaharudin Akademi Entrepreneurship Terang Bangsa Semarang
  • Anang Tri Wahyono Akademi Entrepreneurship Terang Bangsa Semarang
DOI: https://doi.org/10.25134/equi.v21i02.9707
Keywords: capital structure, profitability, environmental disclosure, the value of the company, oil and gas sector

Abstract

Abstrak

Penelitian ini mengkaji hubungan antara struktur modal, profitabilitas, dan pengungkapan lingkungan terhadap nilai perusahaan pada sektor minyak dan gas yang terdaftar di Bursa Efek Indonesia periode 2019-2023. Sampel penelitian terdiri dari 15 perusahaan dengan total 60 observasi. Pengumpulan data menggunakan data sekunder. Metode analisis yang digunakan adalah regresi linear berganda dengan pendekatan data panel. Hasil penelitian menunjukkan bahwa struktur modal dan profitabilitas berpengaruh positif signifikan terhadap nilai perusahaan, sedangkan pengungkapan lingkungan tidak berpengaruh signifikan. Struktur modal yang optimal dapat meningkatkan nilai perusahaan dengan menyeimbangkan komposisi utang dan ekuitas, sehingga memberikan sinyal positif kepada investor terkait stabilitas keuangan perusahaan. Profitabilitas yang tinggi mencerminkan efisiensi operasional dan kemampuan perusahaan menghasilkan laba secara konsisten, yang pada gilirannya meningkatkan nilai perusahaan. Di sisi lain, pengungkapan lingkungan tidak berpengaruh signifikan, kemungkinan disebabkan oleh kurangnya standar yang konsisten dalam pelaporan informasi lingkungan serta pertimbangan manajer terkait biaya modal dan risiko informasi. Penelitian ini memberikan wawasan mengenai faktor-faktor yang mempengaruhi nilai perusahaan di sektor minyak dan gas, serta implikasinya bagi pengambilan keputusan manajerial dan investasi. Keterbatasan penelitian meliputi fokus pada satu sektor industri dan ukuran sampel yang terbatas, sehingga penelitian selanjutnya disarankan untuk memperluas cakupan sektor dan sampel, serta menggunakan metode pengumpulan data yang lebih beragam.

 

Kata kunci: struktur modal; profitabilitas; pengungkapan lingkungan; nilai perusahaan; sektor minyak dan gas

 

Abstract

This study examines the relationship between capital structure, profitability, and environmental disclosure on the value of companies in the oil and gas sector listed on the Indonesia Stock Exchange for the 2019-2023 period. The research sample consisted of 15 companies with a total of 60 observations. Data collection using secondary data The analysis method used is multiple linear regression with a panel data approach. The results of the study show that capital structure and profitability have a significant positive effect on the company's value, while environmental disclosure has no significant effect. An optimal capital structure can increase the value of the company by balancing the composition of debt and equity, thereby giving a positive signal to investors regarding the company's financial stability. High profitability reflects the company's operational efficiency and ability to generate profits consistently, which in turn increases the company's value. On the other hand, environmental disclosure has no significant effect, likely due to the lack of consistent standards in environmental information reporting as well as managers' considerations regarding capital costs and information risks. This study provides insight into the factors that affect the value of companies in the oil and gas sector, as well as their implications for managerial and investment decision-making. The limitations of the research include focusing on one industry sector and limited sample size, so further research is recommended to expand the scope of sectors and samples, as well as use more diverse data collection methods.

 

Keywords: capital structure; profitability; environmental disclosure; the value of the company; oil and gas sector

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Published
2024-07-31
How to Cite
Fajarsari, H., Putri, I. S., Vernando, A. N., Kaharudin, E., & Wahyono, A. T. (2024). PERAN STRUKTUR MODAL, PROFITABILITAS DAN PENGUNGKAPAN LINGKUNGAN TERHADAP NILAI PERUSAHAAN. Equilibrium: Jurnal Penelitian Pendidikan Dan Ekonomi, 21(02), 118-131. https://doi.org/10.25134/equi.v21i02.9707
Issue
Vol 21 No 02 (2024): Equilibrium: Jurnal Penelitian Pendidikan dan Ekonomi
Section
Articles

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