NUR'AINI, KHOFIFAH (2026) PENGARUH LIKUIDITAS DAN SOLVABILITAS TERHADAP NILAI PERUSAHAAN SEKTOR CONSUMER NON-CYCLICALS BEI DENGAN MEDIASI PROFITABILITAS. S1 thesis, Universitas Mercu Buana Jakarta.
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Abstract
This research focuses on the Consumer Non-Cyclicals sector as the main subject of study. The rationale for this selection is based on the phenomenon of a declining tren in firm value within the sector, even though the Central Bureau of Statistics notes it as one of the major contributors to Gross Domestik Product growth. The objective of this study is to examine the inpact of liquidity and solvency on firm value, utilizing profitability as a mediating variable for companies in the Consumer Non-Cyclicals sector listed on the Indonesia stock Exchange. Employing a quantitive approach with a causality design, the sample was drawn from the population of relevant companies during the observation period using a purposive sampling method based on spesific criteria. To measure the direct and indirect effects among the variables, panel data regrssion analysis was applied using EViews software. The research findings indicate that neither liquidity nor solvency has an effect on firm value. On the other hand, profitability has a positive and significant impact on firm value. The results aso show that liquidity has a positive and significant effect on profitability, whereas solvency has no effect on profitability. Regarding its mediating role, profitability was proven capable of mediating the effect of liquidity on fimr value, but it failed to mediate the impact of solvency on firm value. Keywords: liquidity, solvency, profitability, firm value, consumer non-cyclicals sector Penelitian ini menjadikan sektor Consumer Non-Cyclicals sebagai fokus utama kajian. Alasan pemilihannya didasari oleh adanya fenomena penurunan tren nilai perusahaan pada sektor tersebut, padahal menurut Badan Pusat Statistik, sektor ini merupakan salah satu penyumbang terbesar bagi pertumbuhan Produk Domestik Bruto. Tujuan studi ini adalah untuk menguji dampak likuiditas dan solvabilitas terhadap nilai perusahaan, dengan menempatkan profitabilitas sebagai variabel mediasi pada perusahaan di sektor Consumer Non-Cyclicals yang terdaftar di Bursa Efek Indonesia. Melalui pendekatan kuantitatif dengan desain kausalitas, sampel ditarik dari populasi perusahaan terkait selama periode amatan menggunakan metode purposive sampling berdasarkan kriteria spesifik. Untuk mengukur efek langsung dan tidak langsung antar variabel, diaplikasikan metode regresi data panel yang dioperasikan menggunakan perangkat lunak Eviews. Temuan riset mengindikasikan bahwa baik likuiditas maupun solvabilitas tidak memiliki pengaruh terhadap nilai perusahaan. Di sisi lain, profitabilitas memberikan dampak yang positif dan signifikan terhadap nilai perusahaan. Hasil juga menunjukkan bahwa likuiditas berdampak positif dan signifikan terhadap profitabilitas, sedangkan solvabilitas tidak memiliki pengaruh terhadap profitabilitas. Terkait peran mediasinya, profitabilitas terbukti mampu memediasi pengaruh solvabilitas terhadap nilai perusahaan. Kata kunci: likuiditas, solvabilitas, profitabilitas, nilai perusahaan, sektor consumer non-cyclicals
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