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All Journal Jurnal Manajemen dan Dinamika Bisnis
Gunawan, Yosaf Andrew
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Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

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Profitability or Value? Rethinking the Link in Public Companies (Literature Review) Nugroho, Yohanes Vianney Ario; Clarinta, Avika Anno; Putra, Febrianur Ibnu Fitroh Sukono; Gunawan, Yosaf Andrew; Yulianto, Ahmad Rudi
Jurnal Manajemen dan Dinamika Bisnis (JMDB) Vol. 3 No. 1 (2024): JMDB (Jurnal Manajemen dan Dinamika Bisnis)
Publisher : Universitas Dian Nuswantoro

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33633/jmdb.v3i1.14833

Abstract

This study explores the relationship between profitability and firm value in public companies in Indonesia, with capital structure examined as a mediating factor. A literature-based approach was employed by synthesizing findings from national and international research, emphasizing indicators such as Return on Assets (ROA), Return on Equity (ROE), Price to Book Value (PBV), and Tobin’s Q. The results reveal that profitability generally has a positive impact on firm value, yet this effect is not always consistent due to the role of capital structure. High leverage can weaken or even offset the benefits of profitability, while optimal capital structure enhances market valuation. The study provides theoretical contributions to corporate finance and practical implications for managers, investors, and policymakers.
Co-Authors Clarinta, Avika Anno Febrianur Ibnu Fitroh Sukono Putra Nugroho, Yohanes Vianney Ario Yulianto, Ahmad Rudi