Biaya Modal, Profitabilitas, dan Efisiensi Aktivitas Operasi terhadap Nilai Perusahaan Sektor Teknologi di BEI

Purpose— This study aims to examine the effect of cost of capital, profitability, and operational activity efficiency on firm value among technology sector companies listed on the Indonesia Stock Exchange (IDX) during the 2023–2025 period. Design/methodology— This study employs a quantitative approach using secondary data obtained from the Indonesia Stock Exchange. The sample was determined using a purposive sampling method, resulting in 54 observations from technology sector companies during the 2023–2025 period. The independent variables consist of cost of capital, profitability, and operational activity efficiency, while firm value is the dependent variable. Data analysis was performed using multiple linear regression with the assistance of SPSS version 27. Findings— The results indicate that cost of capital has a significant positive effect on firm value. Profitability has a significant positive effect on firm value, indicating that higher profitability reflects better company performance and prospects, thereby increasing investor confidence and firm value. Operational activity efficiency also has a significant positive effect on firm value, indicating that companies that efficiently utilize their assets to generate sales tend to have higher firm value.