THE EFFECT OF CAPITAL STRUCTURE AND FIRM GROWTH ON FIRM VALUE WITH DEBT POLICY AS A MODERATOR

This study aims to determine and obtain empirical evidence of the effect of capital structure and company growth on firm value with debt policy as a moderator. This type of research is quantitative research and uses secondary data in the form of audited annual financial reports sourced from the official website of the Indonesia Stock Exchange (IDX). The population in this study were consumer non-cyclicals companies listed on the IDX in 2019-2023 as many as 125 companies as the population, and the sample technique taken using purposive sampling by meeting the criteria as many as 24 companies were sampled in 5 years of observation. The data analysis technique in this study uses moderated regression analysis in the Eviews 9 software application. The results of this study partially show that capital structure affects firm value while company growth has no effect on firm value, and debt policy can moderate capital structure on firm value, but debt policy cannot moderate company growth on firm value.