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All Journal EKOMBIS REVIEW: Jurnal Ilmiah Ekonomi dan Bisnis
Julitia, Windi Rika
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Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Energy Other

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The Influencesof Investment Policy, Profitability, And Capital Structurecon Firm Value In The Energy Sectorslisted Onxthe Indonesia Stock Exchange (IDX) Julitia, Windi Rika; Susilo, Joko; Hudzaifah, Yasir
EKOMBIS REVIEW: Jurnal Ilmiah Ekonomi dan Bisnis Vol 13 No 4 (2025): Oktober
Publisher : UNIVED Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37676/ekombis.v13i4.8631

Abstract

This study aims to analyze and assess the impact of capital structure, profitability, and investment policy on firm value in the energy sector, focusing on firms that were publicly listed on the Indonesia Stock Exchange (IDX) between 2021 and 2024. Using a documentation method and a quantitative approach, the data is derived from the annual financial statements of energy companies officially published on the IDX website (www.idx.co.id). Following the Chow, Hausman, and Lagrange Multiplier tests to determine the most appropriate model, Panel regression model with the Common Effects Model was employed as the analytical method. The findings indicate that while capital structure does not have a significant partial effect, both profitability and investment policy exert a positive*and*significant influence on firm value. However, when assessed simultaneously, all three independent variables significantly affect firm value. The adjusted*R-squared value of 97.58% suggests that the model effectively explains the dependent variable. These findings imply that corporate management should prioritize improving profitability efficiency and implementing targeted investment strategies, as both are key factors in enhancing long-term firm value and attracting investor interest.
Co-Authors Joko Susilo Yasir Hudzaifah