Analisis Pengaruh Struktur Modal Dan Ukuran Perusahaan Terhadap Nilai Perusahaan Dengan Profitabilitas Sebagai Mediasi (Studi Kasus Pada Bursa Efek Indonesia Tahun 2017 - 2020)
Abstract
The purpose of this study is to examine the direct effect of capital structure and firm size on firm value and the indirect effect through the profitability. The population in this study were companies listed on the IDX in 2017 – 2020. The sample was taken using a purposive sampling technique with a total sample of 97 companies. The analytical technique used in this research is multiple regression analysis and Sobel test. The results showed that the capital structure and firm size had a significant positive effect on profitability. The results also show that capital structure, firm size and profitability have a significant positive effect on firm value. The results of the Sobel test show that profitability can mediate the effect of capital structure and firm size on firm value. However, the coefficient of determination has a low value in both equations.
References
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Sihombing, L., Astuty, W., & Irfan. (2020). Effect of Capital Structure, Firm Size and Leverage on Firm Value with Profitability as an Intervening Variable in Manufacturing Companies Listed on the Indonesia Stock Exchange. International Journal of New Technology and Research, 6(7), 6585–6591.
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Sudiyatno, B., Puspitasari, E., Suwarti, T., & Asyif, M. M. (2020). Determinants of Firm Value and Profitability: Evidence from Indonesia. Journal of Asian Finance, Economics and Business, 7(11), 769–778.
Suzulia, M. T., Sudjono, & Saluy, A. B. (2020). The Effect of Capital Structure, Company Growth, and Inflation on Firm Value with Profitability as Intervening Variable (Study on Manufacturing Companies Listed on BEI Period 2014-2018). Dinasti International Journal of Economics, Finance & Accounting, 1(1), 95–109.
Wahyuni, A., Alam, S., & Pakki, E. (2020). Effect of Funding Decisions on Firm Value with Profitability as Intervening Variables. Hasanuddin Journal of Business Strategy, 2(1), 49–55.
Zuhroh, I. (2019). The Effects of Liquidity, Firm Size, and Profitability on the Firm Value with Mediating Leverage. KnE Social Sciences, 3(13), 203.
Bandanuji, A., & Khoiruddin, M. (2020). The Effect of Business Risk and Firm Size on Firm Value with Debt Policy as Intervening Variable. Management Analysis Journal, 9(2), 200–210.
Chabachib, M., Hersugondo, H., Ardiana, E., & Pamungkas, I. D. (2019). Analysis of Company Characteristics of Firm Values: Profitability as Intervening Variables. International Journal of Financial Research, 11(1), 60.
Faidah, F. (2018). the Effect of Capital Structure, Corporate Governance, Liquidity and Firm Size on Firm Value With Roe As Intervening Variables. Jurnal Ekonomi Dan Bisnis, 19(3), 24.
Laksitaputri, I. M. (2012). Analisis Faktor-Faktor Yang Mempengaruhi Nilai Perusahaan Dengan Profitabilitas Sebagai Variabel Intervening (Studi pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia periode 2008-2010). Jurnal Bisnis Strategi, 21(2), 1–17.
Listyawati, I., & Kristiana, I. (2020). Pengaruh return on equity, current ratio, size company dan debt to equity ratio terhadap nilai perusahaan. MAKSIMUM: Media Akuntansi Universitas Muhammadiyah Semarang, 10(2), 47–57.
Listyawati, I., & Ramadhan, R. (2019). Analisis Pengaruh Rasio Keuangan Terhadap Nilai Perusahaan. MAKSIMUM: Media Akuntansi Universitas Muhammadiyah Semarang, 9(1), 1–10.
Natsir, K., & Yusbardini. (2020). The Effect of Asset Structure and Firm Size on Firm Value with Capital Structure as Intervening Variable. Advances in Economics, Business and Management Research, 145, 218–224.
Nurlela, N., Sulastri, S., AJ, U. H., & Hanafi, A. (2019). The Influence Of Investment Decisions And Financing Decisions On Firm Value With Profitability As Intervening Variables(Empirical Study On Companies Listed In Indonesian Sharia Stock Index). International Journal of Multicultural and Multireligious Understanding, 6(2), 447.
Purwani, T. (2019). ABID concept in the effect of financial policy on firm value. HOLISTICA – Journal of Business and Public Administration, 10(2), 51–68.
Purwani, T., & Oktavia, O. (2018). Profitabilitas, Leverage, Kebijakan Dividen, Kepemilikan Institusional dan Growth terhadap Nilai Perusahaan. Jurnal Bisnis Dan Ekonomi, 25(1), 13–25.
Putri, I. G. A. P. T. (2020). Effect of capital structure and sales growth on firm value with profitability as mediation. International Research Journal of Management, IT and Social Sciences, 145–155.
Rizki, A., Fatma Lubis, A., & Sadalia, I. (2018). The Influence of Capital Structure to the Firm Value with Profitability As Intervening Variables. KnE Social Sciences, 3(10), 220–230.
Setiadharma, S., & Machali, M. (2017). The Effect of Asset Structure and Firm Size on Firm Value with Capital Structure as Intervening Variable Setiadharma. Journal of Business & Financial Affairs, 6(4), 1–5.
Sihombing, L., Astuty, W., & Irfan. (2020). Effect of Capital Structure, Firm Size and Leverage on Firm Value with Profitability as an Intervening Variable in Manufacturing Companies Listed on the Indonesia Stock Exchange. International Journal of New Technology and Research, 6(7), 6585–6591.
Sondakh, R. (2019). the Effect of Dividend Policy, Liquidity, Profitability and Firm Size on Firm Value in Financial Service Sector Industries Listed in Indonesia Stock Exchange 2015-2018 Period. Accountability, 8(2), 91.
Sudiyatno, B., Puspitasari, E., Suwarti, T., & Asyif, M. M. (2020). Determinants of Firm Value and Profitability: Evidence from Indonesia. Journal of Asian Finance, Economics and Business, 7(11), 769–778.
Suzulia, M. T., Sudjono, & Saluy, A. B. (2020). The Effect of Capital Structure, Company Growth, and Inflation on Firm Value with Profitability as Intervening Variable (Study on Manufacturing Companies Listed on BEI Period 2014-2018). Dinasti International Journal of Economics, Finance & Accounting, 1(1), 95–109.
Wahyuni, A., Alam, S., & Pakki, E. (2020). Effect of Funding Decisions on Firm Value with Profitability as Intervening Variables. Hasanuddin Journal of Business Strategy, 2(1), 49–55.
Zuhroh, I. (2019). The Effects of Liquidity, Firm Size, and Profitability on the Firm Value with Mediating Leverage. KnE Social Sciences, 3(13), 203.
Published
2022-08-29
How to Cite
Purwani, T., & Santoso, R. (2022). Analisis Pengaruh Struktur Modal Dan Ukuran Perusahaan Terhadap Nilai Perusahaan Dengan Profitabilitas Sebagai Mediasi (Studi Kasus Pada Bursa Efek Indonesia Tahun 2017 - 2020). Jurnal Bisnis Dan Ekonomi, 29(1), 91-101. https://doi.org/10.35315/jbe.v28i2.9023
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Articles
