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All Journal Jurnal Ilmiah Telaah Manajemen Jurnal Bisnis dan Ekonomi E-Bisnis : Jurnal Ilmiah Ekonomi dan Bisnis Students´ Journal of Economic and Management Benefit: Jurnal Manajemen dan Bisnis Jurnal EMT KITA SEIKO : Journal of Management & Business Owner : Riset dan Jurnal Akuntansi Fair Value: Jurnal Ilmiah Akuntansi dan Keuangan OIKOS: Jurnal Kajian Pendidikan Ekonomi dan Ilmu Ekonomi Jesya (Jurnal Ekonomi dan Ekonomi Syariah) International Journal of Islamic Business and Economics (IJIBEC) EKONOMI, KEUANGAN, INVESTASI DAN SYARIAH (EKUITAS) Budapest International Research and Critics Institute-Journal (BIRCI-Journal): Humanities and Social Sciences MANAJEMEN Jurnal Ilmiah MEA (Manajemen, Ekonomi, dan Akuntansi) Indo-Fintech Intellectuals: Journal of Economics and Business Journal of Principles Management and Bussines FINANCE : International Journal Of Management Finance Jurnal Hukum Islam International Journal of Economics, Management and Accounting International Journal Business, Management and Innovation Review International Journal of Islamic Business and Economics (IJIBEC) International Journal of Accounting, Management, and Economics Research : Ijamer Management Dynamics: International Journal of Management and Digital Sciences
Herry Subagyo
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Religion Arts Humanities Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Environmental Science Law, Crime, Criminology & Criminal Justice Social Sciences Other

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Journal : Journal of Principles Management and Bussines

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Retail Companies' Value Determination Using Profitability As A Mediating Variable Oktavia, Erni; Oktavia, Vicky; Subagyo, Herry; Prawitasari, Dian
Journal of Principles Management and Business Vol. 4 No. 01 (2025): June 2025
Publisher : Scimadly Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55657/jpmb.v4i01.224

Abstract

This study aims to examine the effect of liquidity and sales growth on firm value, with profitability as a mediating variable, in retail companies listed on the Indonesia Stock Exchange (IDX) during the period 2019–2023. The analysis is based on secondary data derived from annual financial statements and IDX statistics. The research population consists of 51 retail sector companies, from which 95 observations were selected using purposive sampling based on specific criteria, covering 19 firms. The data were analyzed using the Structural Equation Modeling-Partial Least Squares (SEM-PLS) approach with WarpPLS software. The findings reveal that liquidity has a significant positive impact on profitability, while sales growth does not significantly influence profitability. Furthermore, both liquidity and sales growth have a significant negative effect on firm value, whereas profitability positively and significantly contributes to firm value. However, the mediating role of profitability is not supported, as it does not significantly mediate the relationship between liquidity or sales growth and firm value. These results suggest that while improving liquidity can enhance profitability, it does not necessarily increase firm value. Additionally, sales growth alone is insufficient to improve either profitability or firm value without effective cost management. Profitability remains a critical determinant of firm value, highlighting the importance of operational efficiency and strategic financial management in the retail sector.
Co-Authors 08.05.51.0146 Dadang Febriyanto Putra 09.05.51.0021 Sri Mulyati 09.05.51.0095 Utami Noor Adyati 10.05.51.0008 Yusshinta Noviana Abdillah, Wimbo Aries Setiawan Aryanto, Vincent Didiek Wiet Bara Zaretta Bara Zaretta Batara David Martin Siregar Celline Yulia Isabella Dian Prawitasari Diana Puspitasari Diva Aulia Nurfitriani Dwi Eko Waluyo Febriana, E Artha Feni Nola, Ekta Rossivea Hayva Zahrasyawalinda Irza Shara Hervina Kamiliya, Chantika Zulfa Khanza Monica Salsabila Lenni Yovita Maaz Ud Din Made Gede Wirakusuma Mahmud Mahmud Marsella Dyah Mirza Elysia, Tia Sonia Muzaroah, Siti Nila Tristiarini, Nila Oktavia, Erni Oktavia, Vicky Oktoriza, Linda Ayu Permatasari, Noviana Putri Prawitasari, Dian Pringgendani, Gadistya Putri, Rhenra Amelia Retno Indah Hernawati Riska Forma Madania Rudi Kurniawan Safa Aulia Safitri, Maria Samasta, Almira Santi Sih Darmi Astuti Sih Darmi Astuti, Sih Darmi Astuti Suhita Whini Setyahuni Ud Din, Maaz Usman Vicky Oktavia Viviani, Olinda Widhi, B. Andini Nugrahaning Widya Latief, Indha Maharani Yeri Adriyanto, Yeri Yovita, Lenni