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Journal : Worksheet : Jurnal Akuntansi

PENGARUH STRUKTUR MODAL, RISIKO BISNIS, DAN PROFITABILITAS TERHADAP NILAI PERUSAHAAN (Studi Kasus pada Perusahaan Sektor Teknologi yang terdaftar di Bursa Efek Indonesia Periode 2021-2024) Fira, Salsa; Asliana, Endang; Puspitasari, Endah
Worksheet : Jurnal Akuntansi Vol 5, No 2 (2026)
Publisher : UNIVERSITAS DHARMAWANGSA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46576/wjs.v5i2.8444

Abstract

The rapid growth of technology sector companies in Indonesia, accompanied by significant stock price fluctuations, indicates inconsistencies in firm value assessment influenced by financial performance and funding decisions. This study aims to analyze the effect of capital structure, business risk, and profitability on firm value in technology sector companies listed on the Bursa Efek Indonesia during the 2021–2024 period. The research applies a quantitative approach using secondary data obtained from published annual financial statements. The sampling technique employed purposive sampling based on predetermined criteria. Data analysis was conducted using multiple linear regression, preceded by descriptive statistical tests, classical assumption tests, and hypothesis testing. Firm value was measured using Price to Book Value (PBV), capital structure was proxied by Debt to Asset Ratio (DAR) and Long-Term Debt to Equity Ratio (LTDER), business risk was measured using Degree of Operating Leverage (DOL), and profitability was proxied by Return on Assets (ROA). The results indicate that capital structure and profitability have a significant effect on firm value, while business risk shows a varying influence depending on the company’s financial condition. These findings imply that optimal debt management and the ability to generate profits are essential factors in enhancing firm value, whereas excessive business risk may reduce investor confidence. Therefore, companies are expected to determine an optimal capital structure and maintain stable profitability to maximize firm value and attract potential investors.
Co-Authors . Anindyajati Aditya Fitriasari Aditya Fitriasari Agustina, Bayu Agustina, Bayu Anandini Aulia Safiera Anindyajati Anindyajati Ari Satia Nugraha Azis, Deri Abdul Banun Kusumawardani Baroroh, Rizqy Kiromin Bawon Triatmoko Bawon Triatmoko Bawon Triatmoko Binar Asrining Dhiani Dani Usmar Dani Usmar, Dani Dea Ajeng Pravita Suendi Dewi Dianasari Dewi Dianasari Dewi Dianasari Diana Holidah Dianasari, Dewi Dwi Merry Christmarini Robin Dwi Novita Wijayanti Dyaningtyas D. P. Putri Dyaningtyas Dewi P. Putri Dyaningtyas Dewi Putri Pamungkas Edy Meiyanto Edy Meiyanto Endah Dwi Setyowati Endah Dwi Setyowati Endang Asliana ESTIKA YUNINDARWATI Evi Umayah Ulfa Fadhila, Nadila Ikhda Ramadhani Faris Rudiana, Irfan Fatimatuz Zuhro Fauzia Ken Nasititi Febi, Qonita Nafilah Fifteen Aprila Fajrin Fira, Salsa Hasanah, Fitrianti Milhatul Hidayatul Ulyah Indah Yulia Ningsih Irma Josefina Savitri Karmilasari, Alviani Dwi Labes, Antje Lestyo Wulandari Lukmanto, Lukmanto Maharany, Dinda Mochammad Amrun Hidayat Muhammad Zaki Rahman Nahraeni, Wini Nasititi, Fauzia Ken Nia Kristiningrum Novan Eko Setiyanggono Novia Hilma Nur Fauziah Matra Nur Ismiyati Nur Ismiyati Nuri . Nuri . Nuri Nuri Nuri Nuri Nuri Nuri Nuri Nuri Nuri Nuri Oktavia, Melinda Dwi Putri Putri Aditama, Tiara Sagita Putri Dwi Apriliani Ramadhan Bagus Cahyono Ramadhan, Andika Dewi Rifki Febriansah Rifki Febriansah Rike Oktarianti Rosidah, Malihatul Rudiana, Irfan Faris Sarmoko Sarmoko Senjarini, Kartika Siti Masithoh Siti Muslichah Siti Nurjannah Siti Sarah, Siti Sugeng Riyanto Sugeng Riyanto Tanfidz Alishlah, Tanfidz Tazkiyatul Fitriyah Tri Agus Siswoyo Tsabit Barki Viddy Agustian Rosyidi Wathon, Syubbanul Yuni Retnaningtyas Zahra, Nurul Fatimatuz