Pengaruh Likuiditas, Solvabilitas, Profitabilitas, dan Non Performing Financing terhadap Nilai Perusahaan dengan Intellectual Capital sebagai Variabel Moderating pada Perusahaan Multifinance yang Terdaftar di Bursa Efek Indonesia Tahun 2015-2018

Abstract

The objective of the research was to analyze the influence of liquidity, solvability, profitability, and non-performing financing on firm value with intellectual capital as moderating variable. The population was 17 multi-finance companies listed in the Indonesia Stock Exchange in the period of 2015-2018, and 14 of them were used as the samples, taken by using purposive sampling technique. The data were analyzed by using panel data regression analysis, interaction test, and E-views application program. The result of the research showed that the influence of all independent variables on firm value was negative except profitability which had significant influence. Intellectual capital as moderating variable could strengthen significant influence of liquidity and insignificant influence of solvability on firm calue. Intellectual capital as moderating variable could weaken the influence of profitability and non- performing financing on firm value significantly at multi-finance companies listed in the Indonesia Stock Exchange in the period of 2015-2018.