Current Ratio, Earnings Per Share, Extensible Business Reporting Language, dan Price To Book Value
Abstract
One of the indicators used by investors to carry out investment analysis is Price to Book Value (PBV) which is influenced by financial performance and ease of access to company information. This research aims to determine the effect of Current Ratio (CR), Earnings per Share (EPS) and Extensible Business Reporting Language (XBRL) on Price to Book Value (PBV). The population of this study are companies that have been listed on the KOMPAS100 index during the 2012-2017 period. The sample selection was carried out by purposive sampling method. The sample chosen was 10 companies. The data is taken from the official website of the Indonesia Stock Exchange. Data is processed using multiple linear regression models. The results of this study state that CR has no significant effect on PBV, EPS has a positive and significant effect on PBV, and XBRL has a negative and significant effect on PBV.
Keywords: Current Ratio; Earnings per Share; Extensible Business Reporting Language; Price to Book Value
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References
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Hidayat, M. (2019). Faktor Yang Mempengaruhi Price To Book Value. Jurnal Bisnis Dan Akuntansi, 20(2), 101–106. https://doi.org/10.34208/jba.v20i2.414
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Julfi, F., Cholifah, & Sutopo. (2021). Pengaruh Return On Asset, Debt To Equity Ratio, Size dan Market To Book Value Equity terhadap Devident Payout Ratio pada Perusahaan Sub Sektor Makanan dan Minuman pada Bursa Efek Indonesia. UBHARA Management Journal, 1(November), 408–412.
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Liu, C., Luo, X., Sia, C. L., O’Farrell, G., & Teo, H. H. (2014). The impact of XBRL adoption in PR China. Decision Support Systems, 59(1), 242–249. https://doi.org/10.1016/j.dss.2013.12.003
Markonah, M., Salim, A., & Franciska, J. (2020). Effect of profitability, leverage, and liquidity to the firm value. DINASTI INTERNATIONAL JOURNAL OF ECONOMICS, FINANCE & ACCOUNTING, 1(1), 83–94. https://doi.org/10.31933/DIJEFA
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Natsir, K., & Yusbardini, Y. (2020). The Effect of Capital Structure and Firm Size on Firm Value Through Profitability as Intervening Variable. Advances in Economics, Business and Management Research, 145(Icebm 2019), 218–224.
Nuswandari, C., Sunarto, S., Jannah, A., & Ikromudin, I. (2019). Corporate Social Responsibility Moderated the Effect of Liquidity and Profitability on the Firm Value. Advances in Economics, Business and Management Research, 86(Icobame 2018), 87–90.
Pujisari, Y., & Biyanto, F. (2019). Kesadaran (Awareness) dan Pemahaman (Understanding) Akuntan Pendidik terhadap XBRL. INVENTORY: Jurnal Akuntansi, 3(1), 33–46.
Putri, M. O. D., & Wiksuana, I. G. B. (2021). THE EFFECT OF LIQUIDITY AND PROFITABILITY ON FIRM VALUE MEDIATED BY DIVIDEND POLICY. American Journal of Humanities and Social Sciences Research (AJHSSR), 212(1), 204–212.
Ramadhani, H. (2016). Analisis Price Book Value Dan Return On Equity Serta Deviden Payout Ratio Terhadap Price Earning Ratio (Studi Pada PT. Bank Mandiri Tbk). Forum Ekonomi, 18(1), 34–42.
Ravelita, N., Andini, R., & Santosa, E. B. (2018). Pengaruh Current Ratio , Debt To Equity Ratio , Return on Assets Terhadap Price Earning Ratio Melalui Price To Book Value Sebagai Variabel Intervening Pada Perusahaan Terdaftar Di Bursa Efek Indonesia Periode 2012-2016. Journal of Accounting, 1(1), 1–20.
Reschiwati, R., Syahdina, A., & Handayani, S. (2020). Effect of Liquidity , Profitability , and Size of Companies on Firm Value. Utopía y Praxis Latinoamericana, 25(6), 324–331.
Rizqia, D. A., Aisjah, S., & Sumiati. (2013). Effect of Managerial Ownership , Financial Leverage , Profitability , Firm Size , and Investment Opportunity on Dividend Policy and Firm Value. Research Journal of Finance and Accounting, 4(11), 120–130.
Rupang, A. D., Falah, S., & Pangayow, B. J. C. (2019). Pengaruh Penerapan Xbrl Terhadap Ketepatan Waktu Pelaporan Keuangan (Studi Empiris Pada Indeks LQ45 Di Bursa Efek Indonesia Tahun 2016-2018). Jurnal Akuntansi & Keuangan Daerah, 14(2), 38–55.
Ruslim, H., & Michael. (2019). The Effect Of Financial Ratio On Company Value With Inflation As A Moderation Variable. Jurnal Akuntansi, XXIII(01), 34–46.
Septariani, D. (2015). Pengaruh Financial Ratios Dan Size Terhadap Price To Book Value (Studi Perusahaan Lq45 Yang Terdaftar Di Bei Periode 2010-2013). Journal of Applied Business and Economics, 2(2), 134–150.
Sucuahi, W., & Cambarihan, J. M. (2016). Influence of Profitability to the Firm Value of Diversified Companies in the Philippines. Accounting and Finance Research, 5(2). https://doi.org/10.5430/afr.v5n2p149
Sugiyono. (2013). Metode Penelitian Kuantitatif, Kualitatif, dan R&D. PT Alfabeta.
Sugiyono. (2017). Metode Penelitian Kuantitatif, Kualitatif, dan R&D. PT Alfabeta.
Wahyu, D. D., & Mahfud, M. K. (2018). Analisis Pengaruh Earning Per Share, Return On Assets, Return On Equity, dan Debt To Equity Ratio Terhadap Return Saham (Pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Periode Tahun 2013-2016). Diponogoro Journal Of Management, 7(2), 1–11.
Wanaputra, F., & Harahap, S. N. (2018). Analisis pengaruh XBRL terhadap kinerja perusahaan di India. Jurnal Ekonomi Dan Bisnis, 21(2), 219–240. https://doi.org/10.24914/jeb.v21i2.1686
Wang, T., Wen, C. Y., & Seng, J. L. (2014). The Association Between The Mandatory Adoption Of Xbrl and The Performance Of Listed State-Owned Enterprises and Non-State-Owned Enterprises in China. Information and Management, 51(3), 336–346. https://doi.org/10.1016/j.im.2014.02.006
Winarto, J. (2015). The Determinants of Manufacturer Firm Value in Indonesia Stock Exchange. International Journal of Information, Business and Management, 7(4), 323–349.
Brigham, E. F., & Houston, J. F. (2011). Dasar-dasar Manajemen Keuangan (A. A. Yulianto (ed.) (eleventh edition). Salemba Empat.
Cusyana, S. R., & Suyanto, S. (2014). Pengaruh Earning per Share, Debt to Equity Ratio, Suku Bunga dan Inflasi terhadap Price to Book Value pada Perbankan di Bursa Efek Indonesia. Jurnal Riset Akuntansi & Perpajakan (JRAP), 1(02), 160–170. https://doi.org/10.35838/jrap.v1i02.75
Fama, E. F., & French, K. R. (1995). Size and Book‐to‐Market Factors in Earnings and Returns. The Journal of Finance, 50(1), 131–155. https://doi.org/10.1111/j.1540-6261.1995.tb05169.x
Harmadji, D. E., Subroto, B., Saraswati, E., & Prihatiningtias, Y. W. (2018). From Theory to Practice of Signaling Theory: Sustainability Reporting Strategy Impact on Stock Price Crash Risk with Sustainability Reporting Quality as Mediating Variable. KnE Social Sciences, 3(10), 647–658. https://doi.org/10.18502/kss.v3i10.3411
Hasanudin, Nurwulandari, A., Adnyana, I. M., & Loviana, N. (2020). The Effect of Ownership and Financial Performance on Firm Value of Oil and Gas Mining Companies in Indonesia. International Journal of Energy Economics and Policy, 10(5), 103–109.
Hidayat, M. (2019). Faktor Yang Mempengaruhi Price To Book Value. Jurnal Bisnis Dan Akuntansi, 20(2), 101–106. https://doi.org/10.34208/jba.v20i2.414
Jensen, M. C., & Meckling, W. H. (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3(4), 305–360. https://doi.org/10.1177/0018726718812602
Jihadi, M., Vilantika, E., Hashemi, S. M., Arifin, Z., Bachtiar, Y., & Sholichah, F. (2021). The Effect of Liquidity , Leverage , and Profitability on Firm Value : Empirical Evidence from Indonesia. Journal of Asian Finance, 8(3), 423–431. https://doi.org/10.13106/jafeb.2021.vol8.no3.0423
Julfi, F., Cholifah, & Sutopo. (2021). Pengaruh Return On Asset, Debt To Equity Ratio, Size dan Market To Book Value Equity terhadap Devident Payout Ratio pada Perusahaan Sub Sektor Makanan dan Minuman pada Bursa Efek Indonesia. UBHARA Management Journal, 1(November), 408–412.
Krismiaji, Aryani, Y. A., & Suhardjanto, D. (2016). International Financial Reporting Standards, board governance, and accounting quality. Asian Review of Accounting. https://www.emerald.com/insight/content/doi/10.1108/ARA-06-2014-0064/full/html
Liu, C., Luo, X., Sia, C. L., O’Farrell, G., & Teo, H. H. (2014). The impact of XBRL adoption in PR China. Decision Support Systems, 59(1), 242–249. https://doi.org/10.1016/j.dss.2013.12.003
Markonah, M., Salim, A., & Franciska, J. (2020). Effect of profitability, leverage, and liquidity to the firm value. DINASTI INTERNATIONAL JOURNAL OF ECONOMICS, FINANCE & ACCOUNTING, 1(1), 83–94. https://doi.org/10.31933/DIJEFA
Marlina, T. (2013). Pengaruh Earning Per Share, Return On Equity, Debt To Equity Ratio dan Size Terhadap Price To Book Value. Jurnal Ilmiah Akuntansi Kesatuan, 1(1), 59–72. https://www.researchgate.net/publication/329364016_Pengaruh_Earning_Per_Share_Return_On_Equity_Debt_To_Equity_Ratio_dan_Size_Terhadap_Price_To_Book_Value_Tri_Marlina
Nasution, Y. S. J. (2015). Peranan Pasar Modal Dalam Perekonomian Negara. HUMAN FALAH: Jurnal Ekonomi Dan Bisnis Islam, 2(1), 95–112.
Natsir, K., & Yusbardini, Y. (2020). The Effect of Capital Structure and Firm Size on Firm Value Through Profitability as Intervening Variable. Advances in Economics, Business and Management Research, 145(Icebm 2019), 218–224.
Nuswandari, C., Sunarto, S., Jannah, A., & Ikromudin, I. (2019). Corporate Social Responsibility Moderated the Effect of Liquidity and Profitability on the Firm Value. Advances in Economics, Business and Management Research, 86(Icobame 2018), 87–90.
Pujisari, Y., & Biyanto, F. (2019). Kesadaran (Awareness) dan Pemahaman (Understanding) Akuntan Pendidik terhadap XBRL. INVENTORY: Jurnal Akuntansi, 3(1), 33–46.
Putri, M. O. D., & Wiksuana, I. G. B. (2021). THE EFFECT OF LIQUIDITY AND PROFITABILITY ON FIRM VALUE MEDIATED BY DIVIDEND POLICY. American Journal of Humanities and Social Sciences Research (AJHSSR), 212(1), 204–212.
Ramadhani, H. (2016). Analisis Price Book Value Dan Return On Equity Serta Deviden Payout Ratio Terhadap Price Earning Ratio (Studi Pada PT. Bank Mandiri Tbk). Forum Ekonomi, 18(1), 34–42.
Ravelita, N., Andini, R., & Santosa, E. B. (2018). Pengaruh Current Ratio , Debt To Equity Ratio , Return on Assets Terhadap Price Earning Ratio Melalui Price To Book Value Sebagai Variabel Intervening Pada Perusahaan Terdaftar Di Bursa Efek Indonesia Periode 2012-2016. Journal of Accounting, 1(1), 1–20.
Reschiwati, R., Syahdina, A., & Handayani, S. (2020). Effect of Liquidity , Profitability , and Size of Companies on Firm Value. Utopía y Praxis Latinoamericana, 25(6), 324–331.
Rizqia, D. A., Aisjah, S., & Sumiati. (2013). Effect of Managerial Ownership , Financial Leverage , Profitability , Firm Size , and Investment Opportunity on Dividend Policy and Firm Value. Research Journal of Finance and Accounting, 4(11), 120–130.
Rupang, A. D., Falah, S., & Pangayow, B. J. C. (2019). Pengaruh Penerapan Xbrl Terhadap Ketepatan Waktu Pelaporan Keuangan (Studi Empiris Pada Indeks LQ45 Di Bursa Efek Indonesia Tahun 2016-2018). Jurnal Akuntansi & Keuangan Daerah, 14(2), 38–55.
Ruslim, H., & Michael. (2019). The Effect Of Financial Ratio On Company Value With Inflation As A Moderation Variable. Jurnal Akuntansi, XXIII(01), 34–46.
Septariani, D. (2015). Pengaruh Financial Ratios Dan Size Terhadap Price To Book Value (Studi Perusahaan Lq45 Yang Terdaftar Di Bei Periode 2010-2013). Journal of Applied Business and Economics, 2(2), 134–150.
Sucuahi, W., & Cambarihan, J. M. (2016). Influence of Profitability to the Firm Value of Diversified Companies in the Philippines. Accounting and Finance Research, 5(2). https://doi.org/10.5430/afr.v5n2p149
Sugiyono. (2013). Metode Penelitian Kuantitatif, Kualitatif, dan R&D. PT Alfabeta.
Sugiyono. (2017). Metode Penelitian Kuantitatif, Kualitatif, dan R&D. PT Alfabeta.
Wahyu, D. D., & Mahfud, M. K. (2018). Analisis Pengaruh Earning Per Share, Return On Assets, Return On Equity, dan Debt To Equity Ratio Terhadap Return Saham (Pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia Periode Tahun 2013-2016). Diponogoro Journal Of Management, 7(2), 1–11.
Wanaputra, F., & Harahap, S. N. (2018). Analisis pengaruh XBRL terhadap kinerja perusahaan di India. Jurnal Ekonomi Dan Bisnis, 21(2), 219–240. https://doi.org/10.24914/jeb.v21i2.1686
Wang, T., Wen, C. Y., & Seng, J. L. (2014). The Association Between The Mandatory Adoption Of Xbrl and The Performance Of Listed State-Owned Enterprises and Non-State-Owned Enterprises in China. Information and Management, 51(3), 336–346. https://doi.org/10.1016/j.im.2014.02.006
Winarto, J. (2015). The Determinants of Manufacturer Firm Value in Indonesia Stock Exchange. International Journal of Information, Business and Management, 7(4), 323–349.
Published
2023-08-30
How to Cite
FATONIAJI, Wildany Ilham; MIMBA, Ni Putu Sri Harta.
Current Ratio, Earnings Per Share, Extensible Business Reporting Language, dan Price To Book Value.
E-Jurnal Akuntansi, [S.l.], v. 33, n. 8, p. 2117-2130, aug. 2023.
ISSN 2302-8556.
Available at: <https://ojs.unud.ac.id/index.php/akuntansi/article/view/80342>. Date accessed: 19 nov. 2024.
doi: https://doi.org/10.24843/EJA.2023.v33.i08.p11.
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