Fluctuating economic conditions have increased challenges in maintaining manufacturing firms’ value. This study aims to analyze the effect of liquidity and profitability on firm value, with capital structure as a mediating variable, among manufacturing sector companies listed on the Indonesia Stock Exchange (IDX) in 2023. The approach used is quantitative associative with the Structural Equation Modeling – Partial Least Squares (SEM-PLS) method. The research sample was selected using a purposive sampling technique, resulting in 147 manufacturing companies. The variables used include liquidity (Current Ratio/CR), profitability (Return on Assets/ROA), capital structure (Debt to Equity Ratio/DER), and firm value (Price to Book Value/PBV). The results of the study indicate that, liquidity has no significant effect on firm value, profitability has a positive and significant effect on firm value, capital structure has a positive and significant effect on firm value, capital structure can mediate the effect of liquidity on firm value (full mediation) and capital structure can mediate the effect of profitability on firm value (partial mediation). These findings indicate that increasing profitability and optimal capital structure management are key factors in increasing the value of manufacturing companies in Indonesia.
This study investigates how profitability, ownership structure, and capital structure influence firm value, with liquidity considered as a potential mediating factor. The sample includes 22 non-financial firms from the LQ45 index between 2022 and 2025, yielding 88 firm-year observations. Panel data regression analysis...
Harold Kevin Alfredo, Rizki Agung Wibowo, M. Pratama et al.· Dinasti International Journa...· 0 citations
This study examines the effect of capital structure and liquidity on firm value, with firm size as a moderating variable, in property and real estate companies listed on the Indonesia Stock Exchange. A quantitative approach with a causal associative method was employed. Using purposive sampling, 17 companies were selec...
I. Ramadani, Mardiyani Mardiyani· Jurnal Riset Akuntansi dan K...· 0 citations
Firm value remains a central consideration for investors; however, empirical evidence regarding the effects of firm size, liquidity, and capital structure among Sharia-compliant automotive companies remains inconsistent. This study aims to examine the partial and simultaneous effects of firm size, liquidity, and capita...
This study aims to analyze the determinants of company value in the property and real estate sector listed on the Indonesia Stock Exchange (IDX) for the 2020-2023 period. The variables examined include the Current Ratio (CR) as a proxy for liquidity and Return on Equity (ROE) as a proxy for profitability, with Price to...
This research examines the effect of capital structure and profitability on firm value, with liquidity as a moderating variable, among food and beverage (F&B) manufacturing companies listed on the Indonesia Stock Exchange during the 2020–2024 period. The research is motivated by inconsistent findings in previous studie...
M. Arifani, D. Jati, R. D. Hadiwidjaja· Jurnal Indonesia Sosial Sain...· 0 citations
This research aims to examine the effect of profitability, capital structure, dividend policy, and the Covid-19 effect on firm value, with firm size as a control variable, in property and real estate companies listed on the Indonesia Stock Exchange. This research employed a quantitative approach using panel data regres...
Mutiara Salsabila, Umi Widyastuti, I. Ulupui· American Journal of Economic...· 0 citations
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