Liquidity can also describe the smoothness of debt repayments to external parties, institutions, or companies. If the company can pay obligations well then cooperating with others will be easy. This is needed in expanding the market network in developing companies so that the value of the company rises with the increasing scope of the company’s market.The company’s failure to pay obligations can cause the company’s bankruptcy. This means that failure and success in liquidity can directly affect the company. If the company is able to pay the short-term debt, the company will be able to operate and increase the value of the company and vice versa.The results of Dharma and Vivi’s research (2016) show that liquidity has an effect on firm value. In contrast to the results of research by Sudiani and Darmayanti (2016) which stated that liquidity does not affect the value of the company.H4: Liquidity affects the company value9. Profitability and The Company ValueProfitability is the level of success of the company in increasing profits. The higher the level of profitability, then it illustrates that the performance of the company in managing its resources is successful by oriented to the maximum and profitable results for the company. A large profit is a success in managing the company’s finances and this can increase the value of the company. The company’s ability to increase the company’s profitability is the success of a manager in managing its operations. Managers play an important role in managing the company’s resources in an effective and efficient way to obtain maximum profits. Maximum profit is the company’s goal, but it can also increase the value of the company by increasing capital and assets due to high profits.The greater the level of profitability of a company will provide guarantees and strong attractiveness for investors to invest capital in the company. If many investors are attracted to the company, then the price of the outstanding shares will be even higher and this will have an impact on increasing the value of the company. The results of Agus and Mustanda’s (2017), Sudiani and Darmayanti (2016), and Dharma and Vivi (2016) research show that profitability affects the value of the company. It is different from Moniaga (2013) study which states that profitability does not affect company value.H5: Profitability affects the company valueRESEARCH METHODS The population in this study are Manufacturing Companies listed on the Stock Exchange in 2015-2017. The sampling technique in this study uses a purposive sampling technique which is a technique used to determine the sample of research by considering certain conditions that aim to make the data obtained more representative. The sample in this study there are 25 companies per year for 3 years in a row.
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