The results showed that the internal factors such as debt to equity ratio, return on equity, and asset growth had a significant positive relationship with price to book value. Panel data regression was applied to establish the relationship between dependent and independent variables. The data collected from financial statements of companies in property and real estate companies listed in Indonesia Stock Exchange during the period from 2013 to 2017, and samples were taken from 20 companies. The Internal factors used in this study are a debt to equity ratio, asset growth, and return on equity, while the external factors used are inflation, exchange rates, and economic growth. The dependent variable used in this study is Price to Book Value. The purpose of this study is to investigate the influence of internal and external factors on the firm value of property and real estate companies listed in Indonesia Stock Exchange.
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