Pengaruh Debt To Asset Ratio dan Return on Asset terhadap Nilai Perusahaan (PBV) Sektor Transportasi dan Logistik di BEI 2022-2024

Fitri Puspita Sari; Rosmita Rosmita

doi:10.61132/jumbidter.v3i3.1539

Authors

Fitri Puspita Sari Universitas Bina Sarana Informatika
Rosmita Rosmita Universitas Bina Sarana Informatika

DOI:

https://doi.org/10.61132/jumbidter.v3i3.1539

Keywords:

DAR, Firm Value, PBV, ROA, Transportation Sector

Abstract

This study examines the effect of Debt to Asset Ratio (DAR) and Return on Asset (ROA) on firm value, proxied by Price to Book Value (PBV), among transportation and logistics companies listed on the Indonesia Stock Exchange during the 2022-2024 period. A quantitative associative-causal design was employed using secondary panel data obtained through purposive sampling, resulting in 13 companies and 39 firm-year observations. Multiple linear regression analysis was performed with SPSS version 27 after the data satisfied the classical assumption tests of normality, heteroscedasticity, multicollinearity, linearity, and autocorrelation. The partial test results indicate that DAR has no significant effect on PBV, whereas ROA has a positive and significant effect on PBV. Simultaneously, DAR and ROA significantly affect PBV, explaining 24.7 percent of its variation, while the remaining 75.3 percent is attributable to factors outside the model. These findings suggest that investors in the transportation and logistics sector place greater emphasis on profitability than on the level of debt when assessing firm value, since a debt-heavy capital structure is regarded as inherent to the capital-intensive nature of the industry.

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