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All Journal IIJSE Determinasi: Jurnal Penelitian Ekonomi Manajemen dan Akuntansi
Ghuri, Erni
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Economics, Econometrics & Finance

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Investment Decisions as a Moderator in Capital Structure, Firm Size, Profitability, and Firm Value Ghuri, Erni; Zulfikar, Zulfikar
Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE) Vol 7 No 3 (2024): Sharia Economics
Publisher : Sharia Economics Department Universitas KH. Abdul Chalim, Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/iijse.v7i3.6806

Abstract

This research investigates how financial leverage, firm size, and profitability influence firm valuation, with capital allocation choices examined as a moderating variable. Specifically, it seeks to answer whether these financial factors significantly affect firm value and whether investment decision proxies strengthen these relationships. Utilizing a quantitative approach, the study analyzes secondary data from the financial statements of conventional banks listed on the Indonesia Stock Exchange (IDX) between 2020 and 2022. Multiple linear regression assesses direct effects, while moderated regression analysis tests the interaction effects using SPSS software. Financial leverage is measured through the debt-to-equity ratio (DER), firm size by the natural logarithm of total assets (Ln), profitability by return on equity (ROE), capital allocation choices by the price-earnings ratio (PER), and firm valuation by price-to-book value (PBV). Findings reveal that financial leverage and profitability significantly influence firm valuation, while firm size does not. The lack of significance for firm size may reflect that larger banks in Indonesia are not inherently more efficient or value-generating due to structural or operational inefficiencies. Capital allocation choices have a direct, positive effect on firm valuation, but moderate the impact of profitability, rather than leverage or size. This suggests that investors prioritize profitability when making valuation-based investment decisions. These results are consistent with prior studies that highlight the dominant role of profitability in driving firm value, particularly in emerging markets, where size alone does not guarantee performance or market perception.
Pengaruh Penggunaan Financial Technology QRIS (Quick Response Code Indonesian Standard) Terhadap Tingkat Pendapatan Pedagang Kaki Lima di Sekitar Universitas Muhammadiyah Surakarta Maulida Pangesti, Fania; Nadhiroh, Annisa Fitrotun; Ghuri, Erni; Tanjung, Dewi Sekar; Kusumaningrum, Dyah Ayu; Noor Adiba, Dira Rosyida
Determinasi: Jurnal Penelitian Ekonomi Manajemen dan Akuntansi Vol. 2 No. 1 (2024)
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/determinasi.v2i1.196

Abstract

Quick Response Code Indonesian Standard or QRIS is a QR code network used by various Payment System Service Providers (PSSP). Most street vendors have implemented this payment method. For various reasons, one of which is to increase the amount of income because it is believed that the convenience provided by QRIS will be directly proportional to the income level of Street Vendors around the Muhammadiyah University of Surakarta. This research uses primary data and secondary data. Primary data was taken from a sample of street vendors around Muhammadiyah University, Surakarta. The sample was determined based on criteria determined by the researcher, namely 8 respondents. Meanwhile, secondary data was taken from journals and articles. The research method used is a descriptive qualitative method using in-depth interviews and data analysis using content analysis methods. Keyword: QRIS, Payment Methods and Street Vendors
Co-Authors Dewi Sekar Tanjung Dyah Ayu Kusumaningrum Maulida Pangesti, Fania Nadhiroh, Annisa Fitrotun Noor Adiba, Dira Rosyida Zulfikar Zulfikar