THE EFFECT FIRM SIZE ON COMPANY VALUE WITH PROFITABILITY AS INTERVENING VARIABLE AND DIVIDEND POLICY AS MODERATING VARIABLE

Suci Atiningsih, Khairina Nur Izzaty

Abstract

This study aims to determine the effect of firm size on firm value with profitability as an intervening variable and dividend policy as a moderating variable in manufacturing companies listed on the Indonesia Stock Exchange in 2017-2019. The population in this study were 306 manufacturing companies listed on the Indonesia Stock Exchange. Sampling using purposive sampling technique. The sample of this research is manufacturing companies listed on the Indonesia Stock Exchange in 2017-2019. This study uses secondary data. Data analysis used linear regression with path analysis. The results of this study are firm size has a positive effect on ROA and ROE. Firm size, ROA, and ROE have a positive effect on firm value. Profitability can mediate the effect of firm size on firm value and dividend policy can moderate the effect of firm size on firm value.

Full Text:

PDF

References

Aldi, M. F., Erlina, & Amalia, K. (2020). Pengaruh Ukuran Perusahaan Leverage, Profitabilitas dan Likuiditas Terhadap Nilai Perusahaan Dengan Kebijjakan Dividen Sebagai Variabel Moderasi Pada Perusahaan Industri Barang Konsumsi yang Terdaftar di Bursa Efek Indonesia (BEI) Periode 2007-2008. Jurnal Sains Sosio Humaniora, 4, 262–276.

Andriyani, I., Pebrica, R., Mayasari, & Aryani, D. S. (2018). Soundness Rating of Commercial Banks Before and After Implementation of RGEC Method In Indonesia. Jurnal Keuangan Dan Perbankan, 22(1), 162–169.

Anggraeni, M. D. P., & Sulhan, M. (2020). Pengaruh Profitabilitas, Likuiditas, dan Leverage terhadap Nilai Perusahaan dengan Kebijakan Dividen sebagai Variabel Moderasi. Jurnal Ilmu Manajemen Dan Akuntansi Terapan (JIMAT), 11(1).

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.

Astutik, E. M. (2020). Faktor-Faktor yang Memengaruhi Nilai Perusahaan dengan Profitabilitas sebagai Variabel1 Mediasi. 9(1).

Brigham, E. F., & Gapenski, E. . (2006). Intermediate Financial Management (7th editio). Sea Harbor Drive: The Dryden Press.

Brigham, E. F., & Houston, J. F. (2015). Dasar-Dasar Manajemen Keuangan. In Salemba Empat (11th ed.).

Budiharjo, R. (2020). The Effect of Capital Stucture on Firm Value with Profitability as a Moderating Variable. 22(4), 27–33.

Dehkalani, N. M., Asadi, A., & Kordlouie, H. R. (2015). The Relationship between Institusional Ownership with the Current Financial Performance of the Firms Listed in Bombay Stock Exchange. Nternational Journal of Management, Accounting and Economics, 2(5), 571–583.

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.

Dewi, N., & Abundanti, N. (2019). Pengaruh Leverage dan Ukuran Perusahaan terhadap Nilai Perusahaan dengan Profitabilitas sebagai Variabel Intervening. E-Jurnal Manajemen, 8(5), 3028–2056.

Ghozali, I. (2018). Aplikasi Analisis Multivariate Dengan Program IBM SPSS 25.

Hasangapon, M., Iskandar, D., Purnama, E. D., & Tampubolon, L. D. (2021). The Effect of Firm Size and Total Assets Turnover (Tato) on Firm Value Mediated by Profitability in Wholesale and Retail Sector Companies. Jurnal Primanomics : Jurnal Ekonomi Dan Bisnis, 19(3), 1–15.

Huda, S., Zuhroh, D., & Firdiansjah, A. (2020). The Effect of Profitability and Capital Structure on Firm Value Through Dividend Policy in Transportation Companies Listed on the Indonesia Stock Exchange for the Period of 2015-2018 Student in Magister Management Program , University of Merdeka Malang. 6(9), 44–55.

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

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).

Nurminda, A., Isynurwardhana, D., & Nurbaiti, A. (2017). Pengaruh Profitabilitas, Leverage, Dan Ukuran Perusahaan Terhadap Nilai Perusahaan (Studi pada Perusahaan Manufaktur Sub Sektor Barang dan Konsumsi yang Terdaftar di Bursa Efek Indonesia Periode 2012-2015). E-Proceeding of Management, 4(1), 542–549.

Pirzada, K., Mustapha, M. Z. B., & Wickramasinghe, D. (2015). Firm Performance, Institusional Ownership and Capital Structure: A case of Malaysia. Procedia - Social and Behavioral Sciences, 170–176.

Sari, W., Pratama, L. I., David, & Claudie. (2019). The Moderating Impact of Dividend Policy and Corporate Social Responsibility On Profitability towards Firm Value. Jurnal Akuntansi Manajemen Dan Ekonomi, 21(4), 1–8.

Septianawati, D. (2019). Pengaruh Ukuran Perusahaan, Umur Perusahaan, Leverage dan Keputusan Investasi terhadap Nilai Perusahaan dengan Profitabilitas sebagai Variabel Intervening (Studi Kasus pada Perusahaan Manufaktur yang Terdaftar di Bursa Efek Indonesia tahun 2015-2017). Skripsi Universitas Widya Dharma.

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.

Wibisana, I. A., Mardani, R. M., & Wahono, B. (2018). Pengaruh Manajemen Modal Kerja, Umur Perusahaan dan Ukuran Perusahaan terhadap Profitabilitas1 (Studi pada Perusahaan Manufaktur yang1 Terdaftar di Bursa Efek Indonesia Periode1 2015-2017). Jurnal Riset Manajemen, 7(5), 25–42.

Yulimtinan, Z., & Atiningsih, S. (2021). Leverage, Ukuran Perusahaan, dan Pertumbuhan Penjualan terhadap Nilai Perusahaan dengan Profitabilitas sebagai Variabel Mediasi. Balance: Jurnal Akuntansi Dan Bisnis, 6(1), 69–82.

Refbacks

  • There are currently no refbacks.