The Effect of Financial Performance and Capital Structure on Company Value With Company Size as a Moderation Variable
Asian Journal of Economics, Business and Accounting · pp. 112–123 · Published 21 Dec 2023
10.9734/ajeba/2023/v23i241191Abstract
Aims: This study aims to analyze the effect of financial performance and capital structure on firm value with firm size as a moderating variable. Research Contribution: can provide information to companies about the factors that influence company value so that companies can increase company value so that they can influence the perceptions of investors and potential investors towards the company. Study Design: The method used is quantitative research with secondary data taken from the company's financial statements with data collection techniques using purposive sampling. Place and Duration of Study: The population in this study are manufacturing companies in the consumer goods industry sector which are listed on the Indonesia Stock Exchange during 2019-2021. Methodology: The data analysis used is moderated regression analysis (MRA). Result:The results of this study indicate that: (1) Financial performance has no effect on firm value. (2) Capital structure has no effect on firm value. (3) Firm size has no effect on firm value. (4) Firm size is unable to moderate the effect of financial performance on firm value. (5) Firm size is able to moderate the effect of capital structure on firm value. Research Limitations: (1) the proxy used to measure financial performance only uses net profit margin, (2) the proxy used to measure capital structure only uses the debt to equity ratio, (3) the research object only focuses on manufacturing companies in the goods industry sector consumption is listed on the Indonesian Stock Exchange with an observation period of only three (3) years
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