PENGARUH STRUKTUR MODAL, LIKUIDITAS, DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN DENGAN UKURAN PERUSAHAAN SEBAGAI VARIABEL MODERASI

Nadia Indah  Siswanti; Nur Fadjrih  Asyik

Nadia Indah Siswanti Sekolah Tinggi Ilmu Ekonomi Indonesia (STIESIA) Surabaya
Nur Fadjrih Asyik Sekolah Tinggi Ilmu Ekonomi Indonesia (STIESIA) Surabaya

Keywords: capital structure, liquidity, profitability, firm size, and firm value

Abstract

This research examines the effect of capital structure (DER), liquidity (CR), and Profitability (ROE) on the firm value (PBV) with firm value as a moderating variable in the LQ45 companies listed on the Indonesia Stock Exchange during 2020-2023. The research applies quantitatively with secondary data. Furthermore, the data collection technique used was purposive sampling. In line with that, there were 26 companies during 4 years of observation. Therefore, 104 data samples were analyzed. To answer the hypotheses, the data analysis technique used was multiple linear regressions with Moderate Regression Analysis (MRA). Moreover, the data were processed by SPSS application. The results show that: (1) capital structure has a negative effect on firm value, (2) liquidity has a negative effect on firm value, (3)profitability has a positive effect on firm value, (4) firm size does not affect firm value, (5) firm size can strengthen the positive relationship of capital structure on firm value, (6) firm size was capable to strengthen the positive effect of liquidity on firm value, and (7) firm size can weaken the effect of profitability on firm value.