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Ilomata International Journal of Tax and AccountingIlomata International Journal of Tax and Accounting

This study aims to determine, analyze, and test Tobins q, market-to-book value of equity and profitability (ROA), on asset growth in property companies on the Indonesia Stock Exchange (IDX). This study uses a quantitative descriptive approach with the support of a panel regression model, which is used as a predictive analysis tool. The sampling technique used a non-probability random sampling approach with a purposive sampling method. The results of this study indicate that the independent variables (Tobins q (TQ), MBV, and ROA) both simultaneously or together and partially or individually have no effect on the dependent variable (asset growth). The R square value, or the coefficient of determination (R2), is 0.54. This shows the ability of Tobins q (TQ), MBV, and ROA to explain the growth of assets of property companies listed on the Indonesia Stock Exchange by 54%, or, in other words, the ability of Tobins q (TQ), MBV, and ROA to have an effect of 54% on asset growth variables. Meanwhile, the remaining 46% is influenced by other variables not discussed in this study.

Based on the research findings, it was concluded that Tobins q, market-to-book value (MBV), and return on assets (ROA) do not simultaneously influence asset growth.Furthermore, these independent variables also do not have a significant partial effect on asset growth.The study suggests that the relationship between these variables and asset growth in property companies may be more complex and influenced by other factors not considered in this research.

Penelitian lebih lanjut perlu dilakukan untuk menginvestigasi faktor-faktor lain yang mungkin mempengaruhi pertumbuhan aset perusahaan properti di Bursa Efek Indonesia, seperti variabel makroekonomi, kondisi pasar properti, dan kebijakan pemerintah terkait sektor properti. Selain itu, studi komparatif dapat dilakukan dengan membandingkan perusahaan properti di Indonesia dengan negara lain untuk mengidentifikasi perbedaan dan persamaan dalam faktor-faktor yang mempengaruhi pertumbuhan aset. Penelitian selanjutnya juga dapat mengeksplorasi penggunaan model analisis yang lebih kompleks, seperti model persamaan struktural (SEM), untuk menguji hubungan kausal antara Tobins Q, MBV, ROA, dan pertumbuhan aset secara lebih mendalam. Terakhir, penelitian kualitatif, seperti studi kasus, dapat dilakukan untuk memahami secara lebih rinci bagaimana manajemen perusahaan properti membuat keputusan investasi yang mempengaruhi pertumbuhan aset, serta bagaimana mereka merespons perubahan lingkungan bisnis.

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