The Influence of Capital Structure and Profitability on Firm Value Moderated by Dividend Policy

This study aims to examine the influence of capital structure, profitability on company value with company size as a moderation variable. The research uses a quantitative approach, with research objects in manufacturing companies listed on the Indonesia Stock Exchange for the 2018-2022 period. The type of data uses secondary data in the form of financial statement documents sourced from the Indonesia Stock Exchange (IDX) website www.idx.co.id., with a total of 218 data samples. The sampling technique used is purposive sampling with certain criteria, namely companies that have complete financial report data, companies that get positive profits, and companies that distribute dividends. The data analysis technique used Multiple Linear Regression Analysis and Moderated Regression Analysis (MRA) with Eviews 12 software. The results show that the capital structure does not have a significant effect on the company's value, profitability has a significant positive effect on the company's value, the Dividend Policy is not able to moderate the influence of the capital structure on the company's value, and the Dividend Policy is not able to moderate the influence of profitability on the company's value. The implication of this research is that companies can evaluate dividend policies for long-term goals, and help investors in making investment decisions.

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Publication Details

Journal
Zenodo (CERN European Organization for Nuclear Research)
Published
2024-12-05
DOI
https://doi.org/10.5281/zenodo.14285230
Primary Topic
Financial Analysis and Corporate Governance
Type
article
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article

The Influence of Capital Structure and Profitability on Firm Value Moderated by Dividend Policy

Zenodo (CERN European Organization for Nuclear Research)
Financial Analysis and Corporate Governance
article

The Influence of Capital Structure and Profitability on Firm Value Moderated by Dividend Policy

article en

Abstract

This study aims to examine the influence of capital structure, profitability on company value with company size as a moderation variable. The research uses a quantitative approach, with research objects in manufacturing companies listed on the Indonesia Stock Exchange for the 2018-2022 period. The type of data uses secondary data in the form of financial statement documents sourced from the Indonesia Stock Exchange (IDX) website www.idx.co.id., with a total of 218 data samples. The sampling technique used is purposive sampling with certain criteria, namely companies that have complete financial report data, companies that get positive profits, and companies that distribute dividends. The data analysis technique used Multiple Linear Regression Analysis and Moderated Regression Analysis (MRA) with Eviews 12 software. The results show that the capital structure does not have a significant effect on the company's value, profitability has a significant positive effect on the company's value, the Dividend Policy is not able to moderate the influence of the capital structure on the company's value, and the Dividend Policy is not able to moderate the influence of profitability on the company's value. The implication of this research is that companies can evaluate dividend policies for long-term goals, and help investors in making investment decisions.

Zenodo (CERN European Organization for Nuclear Research)
Muhammadiyah University of Yogyakarta (ID)
Openalex Percentile: Top 44%
Financial Analysis and Corporate Governance
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