Financial performance and systematic risk as determinants of firm value: A panel fixed-effects analysis of Indonesian property and real estate issuers, 2015-2025
The BI Rate fell to a pandemic-era low of 3.50% in 2021 before rising to 6.25% during the tightening cycle, straining the credit-dependent property sector. This study re-examines how profitability (ROA), leverage (DER), liquidity (CR), and systematic risk (Beta) relate to firm value (PBV) for 12 IDX-listed property fir...