The Effect of Debt To Equity Ratio, Return On Asset, and Price Earning Ratio on Price Book Value in the Case Study of BUMN Companies Listed on the IDX in 2021-2023
Adhelya Cita Ardhini1*, Dewi Kalsum2, Hikmah Octavianisa3, Fatlina Zainuddin4

1Student of Management Undergraduate Study Program, Faculty of Economic and Business, Tadulako University
2Student of Management Undergraduate Study Program, Faculty of Economic and Business, Tadulako University
3Student of Management Undergraduate Study Program, Faculty of Economic and Business, Tadulako University
4Management Undergraduate Study Program, Faculty of Economic and Business, Tadulako University

Abstract

The purpose of this study was to determine the effect of debt to equity ratio, return on assets, and price earning ratio on price book value in state-owned companies. This research uses quantitative methodology. The population is 20 BUMN companies listed on the Indonesia Stock Exchange for the period 2021-2023. The sample in this study were 10 BUMN companies selected through purposive sampling technique. Data comes from the Indonesia Stock Exchange website. The analytical approach applied is multiple linear regression. The results showed that together (simultaneously) the independent variables (DER, ROA, PER) had a significant influence on the dependent variable (PBV). Partially, DER and PER variables affect PBV, while ROA has no effect on PBV. The independent variables account for 61.1% of the variation in the dependent variable, with the remaining 38.9% caused by other factors not included in this study.

Keywords: Debt To Equity Rasio, Return On Asset, Price Earning Ratio, Price Book Value.

Topic: Financial Management