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Journal : IQTISHADIA

Moderating effect of profitability: An analysis of factors that determine firm value in the Jakarta Islamic Indeks Amri, Andi; Sagita, Ardio; Ramadhi, Ramadhi
IQTISHADIA Vol 16, No 1 (2023): IQTISHADIA
Publisher : Ekonomi Syariah IAIN Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/iqtishadia.v16i1.22396

Abstract

The value of a firm is often examined by linking the factors that influence on its value. However, this method is no longer adequate because profitability also has a significant role in determining the value of a firm. Thus, incorporating the role of profitability in strengthening firm value is a necessary further step. This quantitative research uses samples of all JII companies within five years, from 2016 to 2020. Seventy financial statements were obtained as samples. Secondary data were obtained through the company website and www.idx.go.id. The analysis of data adopted was the Structural Equation Modelling (SEM) with the help of Smart PLS software. The findings show that the liquidity and debt policy have a positive and significant effect on firm value, but the capital structure, dividend policy, and profitability have no effect on firm value. Meanwhile, profitability has an effect as a moderator in the relationship between liquidity and debt policy on firm value. Nevertheless, profitability has no effect on the relationship between capital structure and dividend policy on firm value. This study could have practical implications whereby investors are more aware that stocks listed in the JII also have bright prospects in addition to their conventional counterparts.
Co-Authors ., Amiluddin Abd Wahid Abd. Wahid Abdul Wahid Adam Andy Omar, Yaumil Atia Ahmad Yusdarwin Waworuntu Akhmad, Noor Alamsyah, Aryo Alfiana Alfiana Alpiani, Alpiani Amiluddin Amiluddin, Amiluddin Andi Adri Arief, Andi Adri Andi Alifuddin ANWAR IBRAHIM, ANWAR Anwar, Dera Azkia Anwar, Dian Purnamasari Ardini, Luky Ardio Sagita Asrina Asrina Aswin Aswin Aynun, Nur Citra Ayu, Ayu Dwi Saputri Wahab Azhari, Alim Bahri Bambang Suseno Batubara, Nur Habibah Cangara, Arie Syahruni Cangara, Satriawati Corry Wardhani, Andy Damayanti, Nora Desti, Yolanda Efendi, Nofriza Eko Susanto Ethrawaty Fachry, Mardiana Fachrandi, Muhammad Kemal Fallah Ilham, Naufal Fawaid, Rezki Inta Febriansya Firman Firman Gosari, Benny Audy Jaya Gultom, Mitra Sami Hamzah Hamzah Hardianti Hardianti, Hardianti Hasanah, Divany Sauzan Hasanah, Sabrinah Nurfalah Hasani, M. Chasyim Hasani, Muh. Chasyim Hayatul Khairul Rahmat Hendra, Mohamad Himawan, Bismar Iman Sudrajat Intan Kusuma Dewi Juansya, Andri Kalalo, Rieneke Ryke Kartika, Tina Kartika Khotibul Umam Lambang Basri Said Lestari, Nur Melinda Machdi, Syakira Permadani Mahardika, Afftah Rizki Mahi , Faizah Malik, Rahmi Fitria Mardiana E. Fachry Mardiyah, Nisfah Ainun Maulana, Mohammad Rizki Mawaddah, Jihan Meli Damayanti, Meli Muhamad Risal Tawil Mulastih, Listiana Sri Mustafa, Muhammad Dalvi Nasruddin, Nur Amaliyah Noviandri Nurdin, Nani Harlinda Nurhasanah, Elis Nurul Mukhlishah Otoluwa, Narto Irawan Pratiwi, Aziizah Nur Putri, Egidia Amalia Rahmadita, Nurmalia Rahman, Irfan Hifdzur Rahmawati, Fatihah Rizki RAMADHI RAMADHI Ramlan, Asrul Rahadi Rani Bastari Alkam, Rani Bastari Renita, Elfa Restu Widyo Sasongko Ristati, Ristati Rivai, Athaullah Andi Rizqi, Muchammad Rosalina, Desi Salsabila, Shafa Tania Salsabila, Tiara Shalihah Sami Gultom, Mitra Sari, Indrya Sarianti, Kiki Siti Chodijah Sitti Fakhriyyah, Sitti Suhada Suhada, Suhada Sunarmo Sunarmo, Sunarmo Suro Adhawati, Sri Swandani, Swandani Syafei, Ilham Syahrul Syahrul Syahruni Cangara, Arie Tae, Lidwina Felisima Tahang, Hamzah Thurisaina, Mihda Utama, David Pra Utami, Gusti Faoziah Tri Waris, Nur Fariza Warsihna, Jaka Zulmi Ramdani