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All Journal Dinamika Akuntansi Keuangan dan Perbankan JIKA: Jurnal Ilmu Keuangan dan Perbankan Ultima Management : Jurnal Ilmu Manajemen SULTANIST: Jurnal Manajemen dan Keuangan Maker: Jurnal Manajemen FINANCIAL : JURNAL AKUNTANSI EAJ (ECONOMICS AND ACCOUNTING JOURNAL) International Journal of Business, Law, and Education Applied Quantitative Analysis (AQA)
Inrawan, Ady
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Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Mathematics Neuroscience Social Sciences Other

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THE ROLE OF FIRM SIZE IN MODERATING THE RELATIONSHIP BETWEEN PROFITABILITY AND FIRM VALUE: Firm Value, Firm Size, Profitability Inrawan, Ady; Silitonga, Hery Pandapotan; Dermawan Sembiring, Lenny
JURNAL AKUNTANSI FINANCIAL STIE SULTAN AGUNG Vol 11 No 1 (2025)
Publisher : Sekolah Tinggi Ilmu Ekonomi Sultan Agung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37403/financial.v11i1.733

Abstract

The primary objective of this study is to analyze the effect of profitability on firm value, with firm size serving as the moderating variable. The data used in this study are secondary data in the form of financial statements obtained from the Indonesia Stock Exchange (IDX) and the websites of the sampled companies. The research population consists of 27 companies in the heavy constructions & civil engineering subsector during the 2019–2023 period. Using a purposive sampling method, 17 companies were selected, resulting in 85 observations. The data analysis technique employed is multiple linear regression with a moderating variable (Moderated Regression Analysis/MRA). The analysis was conducted using panel data with EViews 13 software. Model selection was performed using the Chow Test, Hausman Test, and Lagrange Multiplier Test. The results indicate that profitability does not significantly affect firm value. However, firm size is proven to moderate the relationship between profitability and firm value, although the moderation coefficient demonstrates a negative effect. This suggests that larger firms face managerial complexity challenges that may actually weaken the influence of profitability on firm value. This study is expected to serve as a reference for corporate management and investors in considering the influence of profitability and firm size on firm value
DIVIDEND POLICY AS MODERATOR OF FIRM VALUE DETERMINANTS Inrawan, Ady
ULTIMA Management Vol 17 No 1 (2025): Ultima Management : Jurnal Ilmu Manajemen
Publisher : Universitas Multimedia Nusantara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31937/manajemen.v17i1.4205

Abstract

Abstract- This study is to analyze the influence of leverage, firm size, and profitability on firm value, with dividend policy as moderator. Secondary data were used, consisting of financial reports gathered from the Indonesia Stock Exchange (IDX). The study’s population consists of 67 firms listed in the LQ45 Index between 2019-2023. By applying purposive sampling, 19 companies chosen, resulting in 95 total observations. The data analysis utilized is multiple linear regression incorporating a moderating variable (Moderated Regression Analysis/MRA), performed on panel data using EViews 13 software. The selection of the analytical model was validated through the Chow Test, the Hausman Test, and the Lagrange Multiplier Test. The findings indicate that leverage  has a negative effect on firm value, while profitability has a positive effect. In contrast, firm size has no significant effect on firm value , the findings indicate that dividend policy moderates the relationship between profitability and firm value. However, dividend policy does not moderate the relationship between leverage or firm size and firm value. These findings suggest that while dividend policy can enhance the positive impact of profitability on firm value, it is insufficient to mitigate the negative effect of leverage or to strengthen the insignificant impact of firm size on firm value Keywords: Firm Value; Leverage; Firm Size; Profitability; Dividend Policy
Co-Authors Acai Sudirman Ananda, Risky Andira, Suci Ayu Br Nainggolan, Jenny Frida Butarbutar, Marisi Christine Loist Darwin Lie Debi Eka Putri Dharma, Edy Dunanti, Indri Efendi Efendi Fitria Halim Juan Anastasia Putri Jubi, Jubi Kesuma, Indrawati Mara Khairul Azwar Lenny Dermawan Sembiring Lia Agustina, Lia Lieyadi, Gilbert Lubis, Siti Arbaini Mahriza, Dita Manurung, Ganda Marina Marina Masyitah, Emi Mustika, Widya Nainggolan, Christine Nainggolan, Christine Dewi Nainggolan, Farida Nainggolan, Pinondang Nurcahyani, Tria Panggabeam, Verda Desi Yolanda Panjaitan, Wenty Pardede, Demak Aldi Pradita, Pradita Prihana, Noni Rudy Rudy Rukmana, Suci Indah Ruth Tridianty Sianipar Saragih, Murni Sari Dewi Sari, Nilam Pusvita Sari, Nurtika Septia Wulandari Siahaan, Yansen Siallagan, Maria Emas P. Sidabutar, Rame Uli Orisa Silitonga, Hery Pandapotan Silitonga, Mangisi Bella Rebekka Silitonga, Wati Simanjuntak, Lamtiur Sinaga, Ade Nova Lina Siregar, Liper Siregar, Muhammad Tony Sitanggang, Cindy Eveline Sitanggang, Farida Natalia Sitorus, Fauziyah Suhartini Suhartini Syahputri, Anggraini Syahputro, Dede Tanjung, Sri Rezeki Putri Tarigan, Paman Tarigan, Parman Theodore, Stevan Turnip, Letty Meldawita Vika, Nelly Wati, Yenny Yusrizal Yusrizal