THE ROLE OF PROFITABILITY IN MEDIATING CAPITAL STRUCTURE, AND FIRM SIZE ON FIRM VALUE MEDIATED BY PROFITABILITY
DOI:
https://doi.org/10.53625/ijss.v1i5.1326Keywords:
Capital structure Firm size Profitability Firm value Company Propety Real estatAbstract
This study aims to examine the effect of capital structure and firm size on profitability and firm value. The total population and sample are 32 real estate property companies listed on the Indonesia Stock Exchange. The data is taken from secondary data listed on the IDX from the financial statements of www.idx.com. The data analysis technique in this study used multiple regression analysis and was expanded with path analysis. From the results of regression testing, it can be concluded as follows: Capital structure has a negative and significant effect on profitability, while firm size has a positive and significant effect on profitability. Partially, capital structure and profitability have a positive and significant effect on firm value, while firm size has a negative and insignificant effect. Profitability has a positive and significant effect on firm value. Profitability as an intervening variable does not mediate the relationship between capital structure and firm size with firm value shown from t arithmetic which is smaller than t table Sobel test.
References
Erawati, L., & Dewi, A. S. (2019). Peran Profitabilitas Sebagai Variabel Interverning Dan Pengaruh Struktur Modal Terhadap Nilai Perusahaan.
Nursetya, Radhika Putri Dan Hidayati, Lina Nur. 2020. How Does Firm Size And Capital Structure Affect Firm Value?. Journal Of Management And Entrepreneurship Research Volume 01, Issue 2, P. 67-76, P-Issn 2723-1658, E-Issn 2723-1666 Available At Http://Ejournal.Unisnu.Ac.Id/Jmer/ Doi:Https://Doi.Org/10.34001/Jmer.2020.12.01.2-7
Riduwan, E. A. K., & Kuncoro, A. (2012). Cara Menggunakan Dan Memaknai Path Analysis (Analisis Jalur). Bandung: Alfabeta
Brigham, E. F., & Houston, J. F. (2016). Fundamentals Of Financial Management (Ninth). Boston:Cengage Learning.
Gitman, L. J., & Zutter, C. D. (2015). Principle Of Managerial Finance (Fourteenth). United States Of America: Pearson Education Limited.
Natsir, Khairina Dan Yusbardini. 2019. The Effect Of Capital Structure And Firm Size On Firm Value Through Profitability As Intervening Variable.Dvances In Economics, Business, Business and management research, volume 145. 8th International Conference on Entrepreneurship Dvances In Economics, Business And Management Research, Volume 145
Andirerei, A., “Kinerja Sektor Industri Bursa Efek Indonesia,” Investing.Com, 2019
Harjito, D. And S. Martono, Manajemen Keuangan. Edisi Kedua. Yogyakarta: Ekonisia, 2014.
Gharaibeh, A. M. O. And A. A. A. A. Qader,“Factors Influencing Firm Value As Measured By The Tobin’s Q: Empirical Evidence From The Saudi Stock Exchange (Tadawul),” International Journal Of Applied Business And Economic Research, Vol. 15, No. 6, Pp. 333–358, 2017.
Oktarima, B., “Pengaruh Profitabilitas,Likuiditas, Dan Struktur Modal Terhadap Nilai
Perusahaan (Studi Empiris: Pt. Mayora Indah, Tbk. Tahun 2011 – 2015),” Jurnal Sekuritas, Vol. 1, No. 1, Pp.98–107, 2017.
Hamidy.(2015). Pengaruh Strukturmodal Terhadap Nilaiperusahaan Dengan Profitabilitas Sebagai Variabel Intervening Pada Perusahaan Properti Dan RealEstate Di Bursa Efek Indonesia. Jurnal Ekonomi Dan Bisnis Universitas Udayana(Unud), Bali
Amalia Dewi R, Topowijono, Dan Sri Sulasmiyati. 2015. Pengaruh Ukuran Perusahaan, Profitabilitas, Struktur Modal, Dan Keputusan Investasi Terhadap Nilai Perusahaan Sektor Properti, Real Estate, Dan Building Construction Di Bei Periode 2010-2013. Jurnal Administrasi Bisnis. 23(2)
Rahmawati, S. H., “Analisis Faktor-Faktor Yang Mempengaruhi Nilai Perusahaan(Studi Empiris Pada Perusahaan-Perusahaan Yang Terdaftar Di Bei Tahun 2010-2012,” Journal Universitas Riau, Vol. 2, No.1, Pp. 1–15, 2015
Akhmadi Dan Ariandini. 2018. Profitabilitas Dan Dampak Mediasinya Terhadap Nilai Perusahaan (Studi Empirik Pada Perusahaan Sektor Pertambangan Yang Terdaftar Di Bursa Efek Indonesia Periode 2011-2015). Volume Xi, Nomor 1, Desember 2018
Putri, Siti Meilani Wandini. 2014. Pengaruh Dividen Payout Ratio (Dpr), Debt Equity Ratio (Der), Return On Asset (Roa), Dan Size Perusahaan Terhadap Nilai Perusahaan Pada Perusahaan Manufaktur Yang Terdaftar Di Bursa Efek Indonesia (Bei) Periode 2009-2012. E- Journal. Fakultas Ekonomi. Universitas Maritim Raja Ali Haji. Tanjungpinang.
Pantow, Mawar Sharon R, Sri Murni Dan Irvan Trang. 2015. Analisa Pertumbuhan Penjualan, Ukuran Perusahaan, Return On Asset, Dan Struktur Modal Terhadap Nilai Perusahaan Yang Tercatata Di Indeks Lq 45. Jurnal Emba Vol.3 No.1 Maret 2015, Hal.961-971.
Febria, Ririind Lahmi. 2013. Pengaruh Leverage Dan Ukuran Perusahaan Terhadap Profitabilitas. Jurnal Akuntansi, Vol. 1 No.3
Paramitha, Putu Dyah Pradnya. (2020). The Role Of Profitability In Mediating The Effect Of Capital Structure And Liquidity On Firm Value In Food And Beverage Sub-Sector In Indonesian Stock Exchange. Jurnal Ekonomi Dan Bisnis
Jagaditha, 7(2), 80-91 Doi: Https://Doi.Org/10.22225/Jj.7.2.2154.8-19
Atiningsih, Suci Dan Izzaty, Khairina Nur. 2021. The Effect Firm Size On Company Value With Profitability As Intervening Variable And Dividend Policy As Moderating Variable. International Journal Of Economics, Business And Accounting Research (Ijebar) Peer Reviewed – International Journal Vol-5, Issue-4, 2021 (Ijebar) E-Issn: 2614-1280 P-Issn 2622-4771 Https://Jurnal.Stie-Aas.Ac.Id/Index.Php/Ijebar
Kodongo, O., Mokoaleli-Mokoteli T., & Maina, L., K. (2014). Capital Structur, Profitability And Firm Value: Panel Evidence Of Listed Firm In Kenya. Ssrn Electronic Jorunal, 17 (1), 1-20
Sugosha, Jelita, M., Gede, L., & Artini, S. (2020). The Role Of Profitability In Mediating Company Ownership Structure And Size Of Firm Value In The Pharmaceutical Industry On The Indonesia Stock Exchange. 7(1), 104–115
Sugosha, M. J., & Artini, L. G. S. (2020). The Role Of Profitability In Mediating Company Ownership Structure And Size Of Firm Value In The Pharmaceutical Industry On The Indonesia Stock Exchange. Journal Of Management, It And Social Sciences 7(1), 104–115
Tahu, G. P., & Susilo, D. D. B. (2017). Effect Of Liquidity, Leverage, And Profitability To The Firm Value (Divident Policy As Moderating Variable) In Manufacturing Company Of Indonesia Stock Exchange. Research Journal Of Finance And Accounting, 8(18), 89–98.
Khairunnisa, I., Mismiwati, & Shalihah, B. M. (2020). Pengaruh Debt To Equity Dan Firm Size Terhadap Nilai Perusahaan Dengan Return On Equity Sebagai Variabel Intervening Pada Perusahaan Yang Terdaftar Di Jakarta Islamic Index (Jii) Periode 2016-2018. I-Finance: A Research Journaln On Islamic Finance, 6(1).
Ju, L., Yu, S. 2011. The Influence Of Profitability On Firm Value With Capital Structure As The Mediator And Firm Size And Industry As Moderators. Investment Management And Financial Innovations. Volume 8, Issue 3, 121-130
Dewi, G. A. M. S., & Abundanti, N. (2020). Effect Of Profitability On Firm Valuewith Dividend Policy As A Mediation Variables In Manufacturing Companies. American Journal Of Humanities And Social Sciences Research (Ajhssr), 4(11),330–335.
Ardiana, E., & Chabachib, M. (2018). Analisis Pengaruh Struktur Modal , Ukuran Perusahaan Dan Likuiditas Terhadap Nilai Perusahaan Dengan Profitabilitas Sebagai Variabel Intervening ( Studi Pada Perusahaan Consumer Goods Yang Terdaftar Di Bei Pada Tahun 2012-2016 ). Diponegoro Journal Of Management,7(2), 1–14.
Yusra, I., Hadya, R., Begawati, N., & Istiqomah, L. (2019). Panel Data Model Estimation: The Effect Of Managerial Ownership, Capital Structure, And Company Size On Corporate Value Panel Data Model Estimation : The Effect Of Managerial Ownership, Capital Structure, And Company Size On Corporate Value. Journal Of Physics: Conference Series, 1175, 1–6. Https://Doi.Org/10.1088/17426596/1175/1/012285
Mei, Andanyani Ni Komang Dan Anom, Purbawangsa Ida Bagus. 2019. The Role Of Profitability In Mediating Effect Of Liquidity, Capital Structure, And Sales Growth On Corporate Value In Manufacturing Companies Of Indonesia Stock Exchange. Rjoas, 11(95), November 2019. Doi 10.18551/Rjoas.2019-11.12
Prakoso, Sajiwo Tri. 2022. Dampak Capital Structur, Liquiditas, Ukuran Perusahaan Dan Profitabilitas Terhadap Nilai Perusahaan. Jurnal Manajemen dan Bisnis (J-Mabis) Vol. 1, No. 1. http://ojs.ukb.ac.id/index.php/Jmabis/article/view/405/301
