Article Per Year (5 Year)
p-Index From 2021 - 2026
0.408
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This Author published in this journals
All Journal IJEBD (International Journal Of Entrepreneurship And Business Development) International Journal of Economics, Business and Accounting Research (IJEBAR)
Erwin Budianto
Swadaya Gunung Jati University
Economics, Econometrics & Finance

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THE EFFECT OF PROFITABILITY AND LEVERAGE ON FIRM VALUE WITH INSTITUTIONAL OWNERSHIP AS A MODERATING VARIABLE IN CONSUMER NON-CYCLICAL FIRMS Kholid Ubaedillah; Erwin Budianto; Agustina Budianto
International Journal of Economics, Business and Accounting Research (IJEBAR) Vol 10 No 2 (2026): IJEBAR: Vol. 10, Issue 2, June 2026
Publisher : LPPM ITB AAS INDONESIA (d.h STIE AAS Surakarta)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29040/ijebar.v10i2.19865

Abstract

This study aims to measure the impact of profitability and leverage on firm value, with institutional ownership serving as a moderator variable. Focusing on companies in the Non-Cyclical Consumer Goods sector listed on the Indonesia Stock Exchange from 2022 to 2024, this study employs a quantitative associative approach and uses secondary financial data. Through purposive sampling, this study analyzes 36 firm-year observations using SPSS 25 via multiple linear regression and moderated regression analysis. Empirical findings indicate that profitability (ROA) positively and significantly influences firm value (Tobin’s Q). Similarly, leverage (DER) exerts a positive and significant effect on firm value in the baseline model. Moderation analysis reveals that institutional ownership strengthens the relationship between profitability and firm value, but does not significantly moderate the effect of leverage. The uniqueness of this study lies in its focus on the Non-Cyclical Consumer Goods sector amid recent economic changes. These results suggest that future research should incorporate additional corporate governance indicators and cross-industry comparisons to better identify the drivers of firm value.
Profitability Ratio Analysis to Measure Financial Performance Melinda Handayani; Muhammad Iqbal; Erwin Budianto; Nurhana Dhea Pharlina
IJEBD (International Journal of Entrepreneurship and Business Development) Vol 9 No 1 (2026): Jan - Feb 2026
Publisher : LPPM of NAROTAMA UNIVERSITY

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29138/ijebd.v9i1.3529

Abstract

Purpose: This research aims to evaluate the profitability ratios of companies in the Food and Beverage sector listed on the Indonesia Stock Exchange (IDX) from 2021 to 2024. The study specifically focuses on analyzing the Return on Assets (ROA), Return on Equity (ROE), Net Profit Margin (NPM), and Gross Profit Margin (GPM) as key indicators of financial performance. Design/methodology/approach: The study employs a quantitative analysis using financial data from annual reports of publicly listed Food and Beverage companies. Profitability ratios are calculated for each company over the four-year period and analyzed for trends and fluctuations. Statistical tools are used to assess the relationship between profitability ratios and factors such as operational efficiency, asset management, and market conditions. Findings: The findings indicate significant fluctuations in profitability ratios, reflecting challenges in cost management, asset utilization, and market competition. The study reveals that while some companies successfully managed to improve their profitability, others faced difficulties due to rising operational costs and inefficiencies in asset utilization. The analysis highlights the importance of controlling production costs, optimizing asset management, and adjusting pricing strategies to improve profitability. Paper type: Research Paper
Co-Authors Agustina Budianto Kholid Ubaedillah Melinda Handayani Muhammad Iqbal Nurhana Dhea Pharlina