ANALYSIS OF FIRM VALUE DETERMINANTS IN THE COSMETICS AND HOUSEHOLD GOODS SUBSECTOR

This study aims to examine and understand connection between Debt to Equity Ratio (DER), Earning per Share (EPS), and Return on Equity (ROE) to firm value as measured through Price Book Value (PBV). The data used comes from the annual financial statements of companies in the cosmetics and household goods sub-sector listed on the Indonesia Stock Exchange during the 2017-2023 period. The research sample was selected by the purposive sampling method, which resulted in six samples of companies that met the criteria. In this study, a quantitative approach was applied using secondary data obtained from the official website of the Indonesia Stock Exchange and the company's website. The data analysis was carried out with using by Eviews 13 software for panel data processing, multiple linear regression, as well as classical assumption testing. It was found that this test passed all classical assumption tests with a very strong level of influence of the determinant coefficient. The most appropriate model for this analysis is the Fixed Effect Model (FEM). The hypothesis test includes the t-test for partial analysis, and the F-test for simultaneous analysis. The results show that partially, Debt to Equity Ratio (DER) has a significant and positive correlation with Price Book Value (PBV), Earning per Share (EPS) has a significant and positive correlation with Price Book Value (PBV), Return on Equity (ROE) has a significant and positive correlation with Price Book Value (PBV). In addition, results of the F test also confirmed that the three variables had a simultaneous connection with the firm value. Keywords: Debt to Equity Ratio, Earning per Share, Return on Equity, Firm Value.