PENGARUH CURRENT RATIO DAN RETURN ON ASSETS TERHADAP NILAI PERUSAHAAN PADA PT MUSTIKA RATU TBK PERIODE 2014-2023

AbstractThis study aims to examine and analyze the influence of firm size, leverage,and profitability on firm value at PT Sepatu Bata Indonesia Tbk for theperiod 2014– 2023. The research method used is quantitative with adescriptive and verificative approach. Data were obtained from thecompany’s annual financial reports and analyzed using multiple linearregression, along with t-tests and F-tests to test the hypotheses. The resultsshow that partially, firm size (measured by the natural logarithm of totalassets) has no significant effect on firm value, as indicated by the t-value <t-table, namely -0.046 < 2.447 with a significance level of 0.965 > 0.05.Leverage (Debt to Asset Ratio) also has no significant effect on firm valuewith a t- value < t-table, namely 1.247 < 2.447 and a significance of 0.259> 0.05. Similarly, profitability (Return on Assets) has no significant effect,with a t-value < t-table of 1.616 < 2.447 and a significance level of 0.157> 0.05. Simultaneously, all three independent variables do not significantlyaffect firm value, with an F-value < F- table, namely 1.035 < 4.35 and asignificance of 0.442 > 0.05. These findings indicate that investors, inevaluating a company, do not rely solely on internal factors such as size,capital structure, and profit efficiency, but give more emphasis to growthprospects, industry conditions, and other external factors. This studycontributes to the development of financial literature, particularlyregarding firm valuation in the context of the manufacturing industry inIndonesia.Keywords: Current Ratio, Return On Assets, Company Value