International Journal of Economics, Management and Accounting
Vol. 3 No. 1 (2026): International Journal of Economics, Management and Accounting

The Effect of Capital Structure and Growth on Firm Value with Dividend Policy as a Moderating Variable in FBM KLCI Companies Listed on Bursa Malaysia for the Period 2019–2023

Mellinda Sri Wardani (Unknown)
Erlina Erlina (Unknown)
Ibnu Austrindanney Sina Azhar (Unknown)



Article Info

Publish Date
01 Nov 2025

Abstract

The purpose of this research is to examine and ascertain how capital structure and growth affect company value in FBM KLCI businesses listed on Bursa Malaysia between 2019 and 2023, dividend policy being used as a moderating factor. The study's sample consists of 16 FBM KLCI firms that were listed on Bursa Malaysia between 2019 and 2023. The secondary data utilized was gathered from Bursa Malaysia's website and financial statement documentation studies. Descriptive analysis, panel data regression analysis, MRA, traditional assumption testing, and hypothesis testing are among the data analysis methods used. Eviews Version 13 was used to process the data for this investigation. According to the study's findings, for the 2019–2023 timeframe, capital structure significantly and favorably affects company value in FBM KLCI businesses listed on Bursa Malaysia. In these businesses, growth has no bearing on firm value. In FBM KLCI businesses listed on Bursa Malaysia for the 2019–2023 timeframe, both the correlation between capital structure and company value and the effect of growth on firm value are unaffected by dividend policy.

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Journal Info

Abbrev

IJEMA

Publisher

Subject

Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

Description

Topics in this journal relate to any aspect of management, but are not limited to the following topics: Human Resource Management, Financial Management, Marketing Management, Public Sector Management, Operational Management, Supply Chain Management, Corporate Governance, Business Ethics, Management ...