The Effects of Liquidity, Firm Size, and Profitability on the Firm Value with Mediating Leverage

Zuhroh, Idah

doi:10.18502/kss.v3i13.4206

Cited by 84 publications

(134 citation statements)

References 4 publications

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“…The relationship between profitability, capital structure, and firm value has been empirically studied by Chen & Chen (2011) and the results showed profitability affects firm value directly and indirectly through the use of capital structure as a mediator. The same result was also reported by (Hermuningsih, 2012;Thaib & Dewantoro, 2017;Zuhroh, 2019).…”

Section: Introductionsupporting

confidence: 88%

“…Several empirical studies on the relationship between capital structure and firm value have reported different results, for example, Chen & Chen (2011) found leverage to generally have a very negative effect on firm value and the same finding was reported by (Ambarwati & Stephanus, 2014;Dutta et al, 2018;Ernawati & Widyawati, 2015;Rayan, 2008;Sujoko & Soebiantoro, 2007;Zuhroh, 2019). In other studies, leverage was reported to have a significant positive impact on firm value (Anton, 2016;Cheng & Tzeng, 2011;Putri & Ukhriyawati, 2016).…”

Section: Introductionmentioning

confidence: 84%

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The Influence of Profitability on Firm Value with Capital Structure as The Mediator

Mubyarto

2020

JECO

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The purpose of this research was to determine the direct and indirect effect of profitability on firm value using capital structure as a mediator. This involves using panel data from 44 companies listed on LQ45 as of 31st December 2015-2018 and analyzed using the path analysis method including Sobel Test and Bootstrapping technique. The results showed a positive and significant direct effect of profitability on firm value while the indirect effect using capital structure as a mediator between the two variables was found to be negative and significant. Moreover, the direct influence of capital structure on firm value was discovered to be negative and significant while the introduction of profitability variables in the relationship led to a positive and significant influence. Similarly, the direct effect of profitability on firm value using capital structure as the controlling variable was also found to be positive and significant.Keywords: firm value, capital structure, profitabilityPengaruh Profitabilitas Terhadap Nilai Perusahaan dengan Struktur Modal Sebagai MediatorAbstrak: Tujuan dari penelitian ini adalah untuk mengkaji bagaimana pengaruh langsung profitabilitas terhadap nilai perusahaan, dan pengaruh tidak langsung melalui struktur modal sebagai mediator. Menggunakan data panel dari 44 perusahaan yang tercatat di LQ45 per tanggal 31 Desember selama periode 2015 sampai 2018. Metode analisis yang digunakan adalah metode analisis jalur (Path Analysis), dengan Teknik Sobel Test dan Bootsrapping. Hasil riset membuktikan bahwa terdapat pengaruh langsung yang positif dan signifikan antara profitabilitas terhadap nilai perusahaan. Namun, jika dilihat secara tidak langsung pengaruh profitabilitas terhadap nilai perusahaan melalui struktur modal sebagai mediator adalah negatif dan signifikan. Selanjutnya, pengaruh langsung profitabilitas terhadap struktur modal adalah negatif dan signifikan. Sementara ketika dikontrol oleh variabel profitabilitas, pengaruh struktur modal terhadap nilai perusahaan positif dan signifikan. Begitu pula dengan pengaruh langsung profitabilitas terhadap nilai perusahaan dengan mengontrol variabel struktur modal juga positif dan signifikan.Kata kunci: nilai perusahaan, struktur modal, profitabilitas

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Section: Introductionsupporting

confidence: 88%

Section: Introductionmentioning

confidence: 84%

The Influence of Profitability on Firm Value with Capital Structure as The Mediator

Mubyarto

2020

JECO

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“…Hasil tpenelitian tterdahulu tyang tdilakukan toleh tPratama & Wiksuana (2016), Mukherjee & Sen (2018) Suatu tperusahaan tharuslah tberada tdalam keadaan yang menguntungkan (profitable), tkarena ttanpa tadanya tkeuntungan takan tsulit tbagi tperusahaan untuk tmenarik tmodal tdari tluar tperusahaan tatau tinvestor (Zuhroh, 2019). Perusahaan tyang tmemiliki ttingkat tprofitabilitas tyang ttinggi takan tdiminati sahamnya toleh tinvestor, tsehingga tprofitabilitas tdapat tmempengaruhi tnilai perusahaan.…”

Section: Gambar 1 Grafik Indeks Harga Saham Perusahaan Real Esate Daunclassified

Leverage, Profitabilitas, Dan Kepemilikan Manajerial Berpengaruh Terhadap Nilai Perusahaan Pada Perusahaan Real Estate Dan Property

Widayanti

Yadnya

2020

EJMUNUD

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Company Value is the main goal that must be achieved by the company. Investors will look for companies that have good prospects to get high level of company return. This will certainly affect the prices of a company's stock market, which reflects the value of the company. The purpose of this study was to determine the effect of leverage, profitability, and managerial ownership on firm value. The study was conducted on Real Estate and property companies on the Indonesia Stock Exchange 2014-2018. The samples used were 15 companies, with purposive sampling. Data collected using non-participant observation through financial statement on the Indonesia Stock Exchange. Multiple linear regression was used. In this study it was found that leverage, profitability and managerial ownership had positive effect on firm value. The company is expected to pay attention to the leverage ratio, profitability, and managerial ownership so that the company's value increases. Keywords: Leverage, Profitability, Managerial Ownership, Company Value

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“…Investor yang mengevaluasi bahwa suatu perusahaan memiliki prospek yang baik di masa depan cenderung membeli saham perusahaan. Akibatnya, permintaan tinggi untuk saham menyebabkan harga saham menjadi lebih tinggi karena investor memberikan nilai tinggi kepada perusahaan (Zuhroh, 2019)).…”

Section: Pendahuluanunclassified

Determinan Struktur Modal dan Nilai Perusahaan

Pohan

Sari

Munasib

et al. 2020

j.ilm.manaj.dan.n.a

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The purpose of this study is to formulate a determinant model of capital structure and firm value. The population of this study is the tourism industry sector companies listed on the Indonesia Stock Exchange for the period 2013-2018. In this study the entire population is sampled (Total Sampling). Data collection procedures by collecting audited (annual report) financial report data issued by the Indonesia Capital Market Directory (ICMD). The data analysis technique used is path analysis. The results showed that partially profitability, institutional ownership and firm size had a significant effect on capital structure while company growth had no significant effect on capital structure. Simultaneously the profitability variables, institutional ownership, company growth and company size affect the capital structure. Partially profitability, institutional ownership, company size and capital structure have a significant effect on firm value, while company growth does not significantly influence firm value Simultaneously profitability, Institutional ownership, company size, company growth and capital structure have a significant effect on company value in the sector tourism industry.

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The Effects of Liquidity, Firm Size, and Profitability on the Firm Value with Mediating Leverage

Abstract: .

Cited by 84 publications

References 4 publications

The Influence of Profitability on Firm Value with Capital Structure as The Mediator

The Influence of Profitability on Firm Value with Capital Structure as The Mediator

Leverage, Profitabilitas, Dan Kepemilikan Manajerial Berpengaruh Terhadap Nilai Perusahaan Pada Perusahaan Real Estate Dan Property

Determinan Struktur Modal dan Nilai Perusahaan

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