PENGARUH LIKUIDITAS DAN STRUKTUR MODAL TERHADAP NILAI PERUSAHAAN MELALUI PROFITABILITAS

Abstract

This study aims to examine the effect of: (1) Liquidity on profitability; (2) capital structure on profitability; (3) Liquidity to company value; (4) capital structure to firm value; (5) Profitability on firm value; (6) Profitability mediates the effect of liquidity on firm value; (7) Profitability mediates the effect of capital structure on firm value. The population in this study was obtained using a purposive sampling method for consumer goods sector companies listed on the Indonesia Stock Exchange (IDX) during the 2016 - 2020 period and based on predetermined criteria a sample of 31 companies was obtained, resulting in 155 observational data. The analytical method used is path analysis with the SPSS (Statistical Product and Service Solutions) Version 22 application tool. The results of the study show that: (1) Liquidity has a significant positive effect on profitability; (2) capital structure has a significant positive effect on profitability; (3) Liquidity has a significant positive effect on firm value; (4) Capital structure has a positive and insignificant effect on firm value; (5) Profitability has a significant positive effect on firm value; (6) Profitability is able to mediate the relationship between liquidity and firm value; (7) Profitability is able to mediate the relationship between capital structure and firm value.