The purpose of this study was to examine the role of profitability as a mediating variable in influencing firm value. This study uses a sample of manufacturing companies listed on the Indonesia Stock Exchange from 2016 to 2018. The data used is panel data, with data analysis using multiple regression. Based on the Sobel test, profitability plays a role in mediating the effect of firm size on firm value. The effect of firm size on firm value is indirect, however, through profitability. Therefore, the market price of the shares of large-scale companies will increase if the resulting profitability is high. The capital structure and managerial ownership directly influence firm value. The results showed that managerial ownership and firm size had a positive effect on profitability, while capital structure had no effect on profitability. Capital structure and managerial ownership have a negative effect on firm value, while firm size and profitability have a positive effect on firm value. The main finding of this study is that profitability acts as an intervening variable in mediating the relationship between firm size and firm value.

This study investigated the effects of working capital policy on firm performance and firm value. The research was conducted by manufacturing companies listed in Indonesia Stock Exchange from 2010 to 2013. Variables used as a proxy for working capital policy are current assets to total assets and current liabilities to total assets. This study uses capital structure as a control variable. Capital structure proxies by leverage. Variables used as a proxy for the performance of the company, namely return on assets, and the value of the company is Tobin's Q. Methods of data collection use purposive sampling. The results showed that current assets to total assets have an positive, significant effect on firm performance. Current liabilities to total assets and leverage have an negative, significant effect on firm performance. Furthermore, return on asset has an negative, significant effect on the firm value.

The practice of accounting conservatism, determination of capital structure, and firm performance are important elements in influencing firm value, either directly or through moderation. Firm performance as a reflection of company`s policy plays an important role as a variable that can moderate this influence. Thus, this study aims to examine the role of firm performance in influencing firm value, particularly in moderating the effect of accounting conservatism and capital structure. To test this role, managerial ownership and institutional ownership are viewed as control variables. A total of 43 manufacturing companies from the Indonesia Stock Exchange (IDX) were sampled from 153 manufacturing companies listed from 2017 to 2019 to achieve this target. The data collection approach in this study was purposive sampling, and the data analysis method was multiple regression. The results showed a statistically significant positive effect between accounting conservatism and firm value, while the capital structure had no statistically significant effect. Firm performance acts as a moderating variable of accounting conservatism and capital structure in influencing firm value. The results of this study also confirm that managerial ownership and institutional ownership do not function as control variables in controlling the effect of accounting conservatism and capital structure on firm value. Whereas managerial and institutional ownership is expected to encourage managers to carry out policies that are oriented towards increasing the firm value. AcknowledgmentThis paper is an independent study that is not funded by any institution. We would like to thank all those who have provided immaterial support for the implementation of this study.

Purpose of this study is to examine the relationship between net interest margin and return on assets by placing the net interest margin as the mediating variables. This study uses a sample of banks listed on the Indonesia Stock Exchange for the period 2015 to 2018. Data used is panel data, with data analysis using path analysis. Results showed that the capital adequacy ratio and non-performing loan do not have effect with NIM. We find a statistically significant negative effect between operating cost/operating income ratio and loan to deposit ratio for the NIM. NPL do not have effect with ROA, while CAR, BOPO, and LDR have a negative effect with ROA. However, NIM is positively related to ROA. The important things from this paper that from sobel test results shown that the NIM mediates the relationship between BOPO and LDR to ROA.   Received: 21 January 2021 / Accepted: 10 March 2021 / Published: 10 May 2021

This study aims to test whether profitability acts as a moderating variable that is able to moderate the influence of the company growth and capital structure on the firm value. The independent variables used in this study are company growth and capital structure, while profitability is the moderating variable.The research sample was taken from manufacturing industrial companies listed on the Indonesia Stock Exchange (IDX) during the period 2016 - 2018. The study used panel data which is a combination of cross section and time series data, with data analysis using multiple regression.The results showed that company growth and profitability had a positive effect on the firm value, while capital structure had does not effect. The results of the analysis show that profitability does not moderate the effect of company growth and capital structure on the firm value, the interaction of company growth and capital structure with profitability has a negative impact on the firm value.