MODAL INTELEKTUAL, UKURAN PERUSAHAAN DAN STRUKTUR MODAL TERHADAP NILAI PERUSAHAAN DENGAN PROFITABILITAS SEBAGAI VARIABEL INTERVENING

Abstract

The research aimed to examine companies characteristic which was referred to Value Added Intellectual Capital (VAIC), Firm Size, Debt Equity Ratio (DER) on the Firm Value wich was referred to Price Book Value (PBV) of retail companies, with Return On Equity (ROE) as the intervening variable. The population was retail companies which were listed on Indonesia Stock Exchange 2015-2018. While, the data collection technique used purposive sampling. In line with, there were 80 companies as sample. Moreover, the data analysis technique used multiple lincar regression with SPSS 23. The research result concluded VAIC had insignificant effect on profitability, firms size had significant effect on profitability and DER had insignificant effect on profitability. Then, VAIC had significant effect on firm value, Firm size had significant effect on firm value, DER had insignificant effect on firm value and ROE had significant effect on firm value. In addition, according to the result of intervening variable with path analysis, it concluded ROE could mediate VAIC with firm value. Unfortunately, ROE could not mediate the firm size and DER on the firm value.
Keywords: VAIC, firm size, DER, ROE, PBV