Faktor-faktor yang Mempengaruhi Nilai Perusahaan Manufaktur yang terdaftar di BEI Periode 2022-2025
DOI:
https://doi.org/10.54065/jss.6.4.2026.1630Keywords:
Corporate Social Responsibility, Good Corporate Governance, Firm Size, Liquidity, Profitability, Firm ValueAbstract
Firm value is an important indicator for investors because it reflects market perception of a company’s performance and future prospects. In the manufacturing sector, changes in financial performance, governance practices, and corporate responsibility disclosure make the analysis of factors affecting firm value increasingly relevant. This study aims to analyze the effect of Corporate Social Responsibility (CSR), Good Corporate Governance (GCG), firm size, liquidity, and profitability on firm value in manufacturing companies listed on the Indonesia Stock Exchange during the 2022–2025 period. This research employed a quantitative approach with a causal-associative design. The data used were secondary data obtained from financial statements, annual reports, and sustainability reports. The sample was selected using purposive sampling, resulting in 22 companies with 88 observations. Data were analyzed using multiple linear regression with IBM SPSS Statistics version 27. The results show that CSR has no significant effect on firm value, with a significance value of 0.664. GCG has a significant effect on firm value, with a significance value of 0.000. Firm size has a significant negative effect on firm value, with a significance value of 0.000. Liquidity has no significant effect on firm value, with a significance value of 0.093, while profitability has a significant effect with a significance value of 0.000. Simultaneously, CSR, GCG, firm size, liquidity, and profitability have a significant effect on firm value, with a significance value of 0.001. The Adjusted R Square value of 0.796 indicates that the independent variables explain 79.6% of the variation in firm value. These findings imply that companies need to strengthen governance practices and improve profitability to increase investor confidence. In conclusion, GCG and profitability are the main factors influencing firm value, while CSR and liquidity are not yet primary considerations for investors.
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