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All Journal Jurnal Dimensi Journal of Economic, Bussines and Accounting (COSTING) International Journal of Economics Development Research (IJEDR) Jurnal Ilmu Manajemen Universitas Tadulako (JIMUT) Budapest International Research and Critics Institute-Journal (BIRCI-Journal): Humanities and Social Sciences Indian Journal of Forensic Medicine & Toxicology Jurnal Ekonomi Trend : Pemasaran, Produksi, Keuangan, SDM, Akuntansi dan Sistem Informasi Manajemen International Journal of Social Service and Research Journal of Management and Social Sciences Student Scientific Creativity Journal Manajemen Kreatif Jurnal Jurnal Kewirausahaan dan Manajemen Bisnis CUAN Jurnal Ekonomi Manajemen Akuntansi PROSIDING SEMINAR NASIONAL PENELITIAN DAN PENGABDIAN KEPADA MASYARAKAT (SNPPM) UNIVERSITAS MUHAMMADIYAH METRO Sasambo: Jurnal Abdimas (Journal of Community Service)
Moh. Ali Murad
Faculty Of Economics, Universitas Tadulako, Palu, Indonesia
Religion Arts Humanities Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Environmental Science Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Public Health Social Sciences Transportation

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Capital Structure, Business Risk and Company Value with Firm Size as a Moderating Variable: Empirical Evidence from Pharmaceutical Companies in Indonesia Anisah, Anisah; Murad, Moh. Ali; Asriadi, Asriadi; Samudra, Suryadi; Magfirah, Dilah
Budapest International Research and Critics Institute-Journal (BIRCI-Journal) Vol 5, No 4 (2022): Budapest International Research and Critics Institute November
Publisher : Budapest International Research and Critics University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33258/birci.v5i4.7180

Abstract

This study investigates the extent to which firm size can strengthen or weaken the relationship between capital structure and business risk in inducing firm value. This study uses panel data from ten pharmaceutical companies sourced from the company's annual reports for 2015-2021. The data analysis technique used the Structure Equation Modeling (SEM) method through the Partial Least Square (PLS) approach with WarpPLS 6.0 software. This study found that capital structure had no effect on firm value, while business risk had a significant negative effect on firm value. Firm size is only able to moderate the relationship between capital structure and firm value. Thus, in order to maximize the value of pharmaceutical companies in Indonesia, the main concern of managers is to ensure that the amount of income received by the company remains stable in order to avoid income volatility that can trigger increased business risk for the company. In addition, it is also necessary to consider the size of the company when you want to make a policy to determine how much debt or equity is used to finance the company so that maximizing the value of the company can be achieved. 
Co-Authors Ali Hussein Ali Anisah Anisah Anisah Anugrah Dwilaksana Ardiansyah Ardianto, Heni Asriadi Asriadi Asrin Dedi Defretes Waang Dilah Magfirah Elimawaty Rombe Fahry Budianto Fania Mhayugiastiwi Fardi Fardi Fardi Fardi Hariani Hariani Harnida Wahyuni Adda Hartina Hartina Herni Wati Iin Puspita Sari IRA NURIYA SANTI Juliana Kadang K Bidin, Cici Rianti KORNELIUS, YOBERTH Lamusa, Faruq Lamusu, Faruq Magfirah, Dilah Mansur Kakim Milany, Audy Putri MUH. YUNUS KASIM, MUH. YUNUS KASIM Musdalifah Musdalifah Muslimin Muzakir Muzakir Nanda Alief Yudha Gunawan Nanda Alief Yudha Gunawan Nilluh Putu Evvy Rossanty Niluh Putu Evvy Rossanty Nirwan Nirwan Nurasyimah Usman Pricylia Chintya Dewi Buntuang Puspita Dewi, Puspita Rahdyanti Rahdyanti Rianto Hermawan Risendy, Rian Risnawati Risnawati Risnawati Risnawati Sembiring, Rinawati Sri Rahayu Ramadhani Suryadi Hadi Tito Yanuar Dana Wiri Wirastuti Yoberth Kornelius Zakiyah Zahara