PENGARUH UKURAN PERUSAHAAN DAN KEPUTUSAN PENDANAAN TERHADAP NILAI PERUSAHAAN DENGAN PROFITABILITAS SEBAGAI VARIABEL MEDIASI

Abstract

This research aimed to examine the effect of firm size (LnTA) and funding decisions (DER) on the firm value (PBV), with profitability (ROA) as a mediating variable. The population was manufacturing companies listed on the Indonesia Stock Exchange (IDX) during 2019-2022. Moreover, the data collection technique used purposive sampling, in which the sample was based on determined criteria. In line with that, there were 58 companies as the sample. In total, 232 data samples were observed. Furthermore, the data analysis technique used path analysis with the SPSS (Statistical Product and Service Solutions) 22 application version. The equation model that had been analyzed shows that: 1) firm size had a positive effect on profitability; 2) funding decision had a negative effect on profitability; 3) profitability had a positive effect on the firm value; 4) firm size had a positive effect on the firm value; 5) funding decision had a positive effect on the firm value; 6) profitability was not able to fully mediate the effect of firm size on the firm value; 7) profitability was able to fully mediate the effect of funding decision on the firm value.