The objective of this study is to examine the impact of liquidity, earning variability, and firm size on systematic risk in LQ45 enterprises from 2020 to 2023, with profitability as a moderating factor. The objective of this study is to analyse the impact of liquidity, earning variability, and firm size on systematic risk, while considering profitability as a moderating factor, inside the LQ45 enterprises during the period of 2020-2023. This study employs a quantitative research methodology. The population under study consists of the LQ45 firms, with a sample size of 29 companies. The analysis method is Moderating Regression Analysis (MRA). The research findings indicate that liquidity, earning variability, and Firm Size exert a substantial negative impact on systematic risk. Additionally, profitability has the potential to mitigate the influence of liquidity, earning variability, and Firm Size on systematic risk.
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