Pengaruh Struktur Modal Terhadap Nilai Perusahaan Dengan Pertumbuhan Perusahaan Sebagai Variabel Moderating (Studi Pada Perusahaan Manufaktur Sektor Makanan dan Minuman)

Sugiarto, Ricky Radius
Edward, Fenty Dwijayanti
Nugroho, Nugroho

Jurnal Terapan Manajemen dan Bisnis
Vol 11, No 1 (2025): Volume 11 Number 1 (2025)

This study aims to test and find empirical evidence regarding: (1) there is a positive influence of capital structure on company value, (2) there is a positive influence of company growth on company value, and (3) there is a positive influence of capital structure on company value with company growth as a moderating variable. The sample used in this study was a manufacturing company listed on the Indonesia Stock Exchange during a 4-year observation period (2010-2013). The total sample was 13 companies. Data were collected using a purposive sampling method. The results based on moderated regression analysis (MRA) showed that: (1) capital structure did not affect company value, (2) company growth affected company value, and (3) capital structure affected company value with company growth as a moderating variable. Thus, the research hypothesis was not empirically supported.