Pengaruh Struktur Modal, Kepemilikan Institutional, Research and Development terhadap Nilai Perusahaan pada Perusahaan Sub Sektor Farmasi yang Listing di Bursa Efek Indonesia

Abstract

This study aims to examine and provide evidence on the influence of capital structure, institutional ownership, and research and development on firm value in pharmaceutical sub-sector companies listed on the Indonesia Stock Exchange, both partially and simultaneously.

The population of this study includes all pharmaceutical sub-sector companies listed on the Indonesia Stock Exchange, totaling 13 companies. The sampling technique used was purposive sampling, resulting in 5 companies being selected as samples over a l0-year period from 2014 to 2023. The analytical method applied in this study is panel data regression analysis, using EViews 10 software as an analytical tool.

The results of the study show that only capital structure has a negative and significant effect on firm value in pharmaceutical sub-sector companies listed on the Indonesia Stock Exchange. Meanwhile, institutional ownership and research and development do not have a significant effect on firm value in the same sub-sector.