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Journal : JEBD

Pengaruh Leverage dan Capital Expenditure terhadap Nilai Perusahaan dengan Return on Assets sebagai variabel intervening pada Perusahaan Consumer Non-Cyclicals subsektor Food and Beverage yang terdaftar di BEI Periode 2020-2024 Sari, Dinda Risma Permata; Veri, Jhon; Nadia, Putri
Jurnal Ekonomi dan Bisnis Digital Vol. 3 No. 3 (2026): Januari - Maret
Publisher : CV. ITTC INDONESIA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62379/jebd.v3i3.4314

Abstract

This study aims to analyze the effect of Leverage and Capital Expenditure on firm value with Return on assets (ROA) as an Intervening Variable in Consumer Non-Cyclicals Food and Beverage subsector companies listed on the Indonesia Stock Exchange (IDX) during the 2020–2024 period. The sampling technique used was purposive sampling, resulting in a sample of 28 companies from a population of 98 firms over a five-year observation period. The data analysis methods employed were panel data regression and path analysis, processed using EViews 13 software. The results indicate that leverage has an effect on Return on Assets (ROA), while Capital Expenditure does not affect Return on Assets (ROA). Leverage is proven to have an effect on Firm Value, whereas Capital Expenditure does not affect Firm Value, and Return on Assets (ROA) does not affect Firm Value. Furthermore, the results of the path analysis show that Leverage does not affect Firm Value through Return on Assets (ROA) as an Intervening Variable, and Capital Expenditure also does not affect Firm Value through Return on Assets (ROA) as an Intervening Variable
Pengaruh Struktur Modal dan Profitabilitas Terhadap Nilai Perusahaan Dengan Kebijakan Dividen Sebagai Varaibel Intervening Pada Perusahaan Basic Materials Yang Terdaftar di BEI Tahun 2020-2024 Asyfa, Dheandra; Veri, Jhon; Nadia, Putri
Jurnal Ekonomi dan Bisnis Digital Vol. 3 No. 3 (2026): Januari - Maret
Publisher : CV. ITTC INDONESIA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62379/jebd.v3i3.4315

Abstract

This study aims to analyze the effect of Capital Structure and Profitability on Firm Value, with Dividend Policy as an intervening variable in Basic Materials sector companies listed on the Indonesia Stock Exchange (IDX) during the 2020–2024 period. The sampling technique used was purposive sampling, resulting in a sample of 23 companies from a population of 109 firms over five years of observation. The data analysis methods employed were panel data regression and path analysis, using EViews 13 software.The results indicate that Capital Structure has an effect on Dividend Policy, while Profitability does not affect Dividend Policy. Furthermore, Capital Structure affects Firm Value, whereas Profitability does not affect Firm Value, and Dividend Policy does not affect Firm Value. In addition, the path analysis results show that Capital Structure does not affect Firm Value through Dividend Policy as an intervening variable, and P Brofitability also does not affect Firm Value through Dividend Policy as an intervening variable.
Co-Authors Adela, Syarifah Nur Adzim, M. Yasir Fath’hul Agistia, Nesa Ainun Mardiah Al-Fadillah, Annsisya Shafira Amanda, Isnaeni Annisa Rahmawaty Ansari, Ilham Aqila, Salfa Aryani, Desy Astaharie, Shinta Angelia Astryna, Syarifah Yanti Asyfa, Dheandra Azhar, Gustika Azrin, Minalni Bayhaqi, Rasya Abi Cahyana, Icha Deni Anggraini Dwiniati, Dwiniati Erwan Efendi Fenny Etrawati Fitri, Hasmaynelis Freddy, Manton Chandra Fuspita Sari, Rispa Gracia, Jeaneatte Hadiyanto Hadiyanto Hasanah, Afifah Nurazizatul Hery Sutrawan Nurdin, Hery Sutrawan Humaeroh, Novi Identiti Inas Sofia Latif Indriyati, Susana Innayatillah Julianas, Eva Junaidah Junaidah Khansa D, Afifah Kurnia, Lisa Lionita, Widya M Almurdani Mahdi Mahdi, Mahdi Meilina, Rulia Miranda, Aullya Nurhayati Nurhayati Nuryadin, Devi Faustine Elvina Nuzulul Rahmi, Nuzulul Oktavia, Sella Pamungkas, Aldi Panny Agustia Rahayuningsih Parwati, Tri Ayu Pratiwi, Wulan Iska Pulungan, Wahyuni Purnamasari, Anisa Putra, Waldino Radityani, Fitri Afina Rahma, Nadratur Rahmatika Rizal Fahmi ROHANA ROHANA Sakir, Sarni Salsabila A, Mutiara Sandra, Alya Dwi Sari, Dinda Risma Permata Sinata, Novia Sipahutar, Yesika Siti Patimah Siti Utari, Diah Sovia Mas Ayu Subandi Subandi SUMADI SUMADI Toni, Toni Veri, Jhon Vinka, Jasinta Ananda Viona, Resyelly Wahyudi Rahmat Wahyuni Muhsin, Sri Wanda, Irma Yadi, Hervi Yudi Ramdhani yulia Yulia Yulia Yunita A, Vera Yunitasari, Nita Yupita, Lasmi Z, Qirsa Zahrota Zikrinnissa, Zikrinnissa Zulkarnain Zulkarnain ‘Inayah, Awaliyyatul