Analysis Of The Effect Of Financial Ratios On Market Value In The Coal Production Sub-sector Listed On The Indonesia Stock Exchange

Isra, Lailathul (2026) Analysis Of The Effect Of Financial Ratios On Market Value In The Coal Production Sub-sector Listed On The Indonesia Stock Exchange. Tugas Akhir (S1) - thesis, Universitas Bakrie.

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Abstract

This study aims to analyze the effect of liquidity, leverage, efficiency, and profitability ratios on market value in coal mining production companies listed on the Indonesia Stock Exchange for the period 2021–2024. The market value of the firm is measured using Price to Book Value as a proxy to capture how the market values the equity of asset‑intensive companies amid coal price fluctuations and increasing pressure from the energy transition. This research employs a quantitative approach with a causal design. The population consists of coal mining production companies listed on the IDX, while the sample is selected using purposive sampling based on the availability of audited annual financial statements and stock price data over the observation period. The independent variables in this research are liquidity, leverage, efficiency, and profitability, whereas the dependent variable is market value (PBV). Data are analyzed using statistical methods (such as regression or structural modeling) to examine the partial and simultaneous effects of each financial ratio on PBV. The results show that, partially, efficiency has a positive and significant effect on PBV, while liquidity, leverage, and profitability have no significant effect on PBV. These findings indicate that the capital market places greater emphasis on firms’ ability to utilize assets efficiently rather than merely observing liquidity levels, capital structure, or short‑term profitability when valuing coal mining production companies during the 2021–2024 period.

Item Type:	Thesis (Tugas Akhir (S1) - )
Subjects:	Accounting Finance > Finance Management Thesis > Thesis (S1)
Divisions:	Fakultas Ekonomi dan Ilmu Sosial > Program Studi Manajemen
Depositing User:	Lailathul Isra
Date Deposited:	24 Feb 2026 02:11
Last Modified:	24 Feb 2026 02:11
URI:	https://repository.bakrie.ac.id/id/eprint/13109

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