Article Per Year (5 Year)
p-Index From 2021 - 2026
0.444
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All Journal International Journal of Application on Economics and Business
Merry Susanti
Faculty of Economics and Business, Universitas Tarumanagara, Jakarta, Indonesia
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Social Sciences

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THE INFLUENCE OF PROFITABILITY, LEVERAGE, AND FIRM SIZE ON FIRM VALUE OF THE BANKING SECTOR LISTED ON THE INDONESIAN STOCK EXCHANGE Christian Febianto; Merry Susanti
International Journal of Application on Economics and Business Vol. 2 No. 3 (2024): Agustus 2024
Publisher : Graduate Program of Universitas Tarumanagara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24912/ijaeb.v2i3.195-205

Abstract

This research was conducted to empirically test the effect of profitability (ROA), leverage (DAR), and firm size as independent variables on firm value (PBV) as the dependent variable in banking sector companies listed on the IDX in the 2018–2021 period. The technique used in selecting samples in this research was purposive sampling, with a total sample size of 30 companies. The number of observations in this research was 120, with a sample of 30 companies per year for four years. The data in this research was also managed using Microsoft Excell 2021, and data processing was done using IBM SPSS version 25 software. The results show that profitability (ROA) has a positive and significant effect on firm value, leverage (DAR) has a positive and significant effect on firm value, and firm size also has a positive and significant effect on company value.
DETERMINANTS OF CAPITAL STRUCTURE IN CONSUMER NON-CYCLICALS COMPANIES LISTED ON IDX FOR 2021-2024 Davin Edrick; Merry Susanti
International Journal of Application on Economics and Business Vol. 4 No. 2 (2026): May 2026
Publisher : Graduate Program of Universitas Tarumanagara

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24912/ijaeb.v4i2.407-419

Abstract

This study seeks to examine the relationship between sales growth, liquidity, and firm size and the capital structure of consumer non-cyclical companies listed on the Indonesia Stock Exchange during the 2021 to 2024 period. The research background is rooted in the funding pressures that emerged after the COVID-19 pandemic, when rising raw material prices and higher interest rates simultaneously reduced corporate financial flexibility and increased borrowing costs for both operational and investment activities. These conditions created a dilemma for companies in this sector, as they were required to maintain business performance while facing limited funding capacity, making an assessment of internal factors influencing capital structure increasingly relevant. To obtain a more systematic empirical understanding, the study employs a quantitative approach with purposive sampling based on the availability of annual financial statements denominated in rupiah. Through this procedure, secondary data from 54 companies were collected, resulting in a total of 186 observations used for analysis. The findings show that sales growth has a positive effect on capital structure, indicating that expanding firms tend to increase their proportion of debt to support further growth. In contrast, liquidity exhibits a negative effect because greater internal funds allow firms to reduce dependence on external financing. Meanwhile, firm size does not show a significant effect, suggesting that the scale of assets is not a dominant factor in determining capital structure within the consumer non-cyclical sector during the observation period.
Co-Authors Christian Febianto Davin Edrick