PENGARUH KINERJA KEUANGAN DAN STRUKTUR MODAL TERHADAP NILAI PERUSAHAAN DENGAN UKURAN PERUSAHAAN SEBAGAI VARIABEL MODERASI

Abstract

This research aimed to examine and find out the effect of financial performance and capital structure on the firm value, with firm size as a moderating variable. The Independent variable was financial performance which was measured by profitability, liquidity, and activity ratio. Moreover, the dependent variable was firm value which was measured by Price to Book Value (PBV) and the moderating variable was firm size was measured by Logarithm Numeric (Ln) Total Asset. The research was quantitative. Furthermore, the data collection technique used purposive sampling. The data were secondary. In line with that, there were 95 samples from 19 Food and Beverage companies listed on the Indonesia Stock Exchange 2018-2022. Additionally, the data analysis technique used multiple linear regression. The result showed that profitability had a positive effect on firm value. However, liquidity did not affect firm value. In contrast, activity ratio had a positive effect on firm value. On the other hand, capital structure had a negative effect on firm value. In addition, the firm size could moderate the effect of profitability and activity ratio on firm value. On the contrary, firm size was not able to moderate the effect of liquidity and capital structure on firm value