PERAN PROFITABILITAS PADA PENGARUH STRUKTUR MODAL, LIKUIDITAS, DAN UKURAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN (STUDI EMPIRIS PADA PERUSAHAAN BUMN YANG TERDAPAT DI BURSA EFEK INDONESIA PERIODE 2018–2022)

Singabella, Gilang Ramadhan (2025) PERAN PROFITABILITAS PADA PENGARUH STRUKTUR MODAL, LIKUIDITAS, DAN UKURAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN (STUDI EMPIRIS PADA PERUSAHAAN BUMN YANG TERDAPAT DI BURSA EFEK INDONESIA PERIODE 2018–2022). Tesis (Masters) thesis, Universitas Muhammadiyah Bengkulu.

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Abstract

This study comprehensively examines the influence of capital structure, liquidity, and firm size on firm value, considering profitability as a mediating variable, focusing on State-Owned Enterprises (SOEs) listed on the Indonesia Stock Exchange (IDX) during the 2018–2022 period. Firm value is regarded as a fundamental indicator in assessing corporate financial performance and investment attractiveness. The data were obtained from the annual financial statements of SOEs listed on the IDX and analyzed using multiple linear regression with a path analysis approach to elaborate on the mediating role of profitability. The research findings indicate that capital structure has a positive and significant effect on firm value. Conversely, liquidity and firm size have a negative and significant effect on firm value. Capital structure negatively affects profitability, while liquidity and firm size positively affect profitability. The interaction of capital structure through profitability has a negative and significant effect on firm value. In contrast, the interaction of liquidity through profitability has a negative but not significant effect on firm value. Meanwhile, the interaction of firm size through profitability has a positive and significant effect on firm value. These findings confirm that capital structure, liquidity, and firm size play crucial roles in shaping profitability and firm value. Profitability is proven to be a significant mediating variable in the relationship between firm size and firm value. Therefore, SOEs need to optimize capital structure policies, enhance liquidity efficiency, and design business expansion strategies to increase profitability and strengthen firm value.

Item Type: Thesis (Tesis (Masters))
Additional Information: Pembimbing 1 : Dr. Meilaty Finthariasari, S.E., MM Pembimbing 2 : Dr. Rina Yuniarti, S.E., M.Ak
Uncontrolled Keywords: Capital Structure, Liquidity, Firm Size, Profitability, Firm Value, and SOEs.
Subjects: Universitas Muhammadiyah Bengkulu > 09-Program Pascasarjana > 81101-(S2) Manajemen
09-Program Pascasarjana > 81101-(S2) Manajemen
Divisions: 09-Program Pascasarjana > 81101-(S2) Manajemen
Subjek Terkait > 09-Program Pascasarjana > 81101-(S2) Manajemen
Depositing User: Mr Muammar Hafiz Khattami
Date Deposited: 24 Apr 2025 04:55
Last Modified: 24 Apr 2025 04:55
URI: http://repository.umb.ac.id/id/eprint/971

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